Dear Chartered Accountants, in our earlier post, we introduced our new solution – a professionally designed practice management solution on the cloud, QuickBooks(R) Online Accountant (QBOA) which has been designed to address the challenges faced by the busy accountant fraternity.
In our earlier post, we looked at how QBOA harnesses the power of the cloud to transform your lives. Let us now take a closer look at two more unique features that our team at Intuit has designed to make your life hassle-free – workflow and task management, and complete GST compliance.
Workflow and Task Management
QBOA has efficient tools that helps you manage your team and their work. These allow you to provide timely inputs and suggestions while simplifying the delegation-reporting process. And, here’s how you can use this feature.
Create projects and assign tasks
You can effortlessly create projects and tasks for each client, and also decide and allocate them to staff from your team using QBOA’s built-in templates. Features such as assigning different roles and setting different permissions for each member let you be in charge of the whole process. You can interact with your team and supervise their tasks with just a few clicks.
Get real-time updates on each task
You can get real-time status updates of all tasks at any given time. Using the workflow created by the system, you can verify the trail of instructions given, steps followed, results achieved and task completion timelines. This greatly improves team productivity and accountability. Meeting deadlines is crucial in terms of avoiding fines and penalties, isn’t it?
Complete GST Compliance
With the introduction of the single and uniform Goods and Sales Tax (GST) Act for the entire country, your work has increased tremendously.
The compliance and filings that the GST system mandates is different for each company depending upon the company’s size and nature of operations.
The periodicity of the returns to be filed is also specific to each firm. You have to constantly be on top of the various regulations to provide the right advice to your clients.
At Intuit, we have understood this difficult but extremely important aspect of your job.
Now, with QBOA you can aim for complete GST compliance with ease.
Create and send professional GST compliant invoices to clients
An invoice, as per the GST Act, should display several fields like Customer Name and Address, GST No., HSN Code (for products) or SAC Code (for services). You can capture client-specific relevant information and store it in QBOA.
You can also customise the invoice format as needed and get the system to generate it. Also, using QBOA, you can easily mail GST-compliant invoices to clients.
Generate GST reports
GST registered businesses have to generate and file several GST reports such as the monthly GSTR-1, the monthly GSTR-3B, the annual GSTR-9 return, and several others. With QBOA, you can now generate the required reports in the correct format and in no time at all. You can do away with all the manual effort involved in collating data from spreadsheets or disparate systems for the preparation of GST reports.
Huge savings in terms of time and effort will be a happy result! Don’t forget to register now and explore the features of QBOA if you haven’t done so already.
And, this is not all. There are more features, such as Accountant Specific Tools and easy Bank Reconciliations, that we want to tell you about. Do come back for updates.