Here's what's new in QuickBooks Online in February 2024

Welcome to February! In honor of Black History Month, Intuit QuickBooks has published an article on insights from Black-owned business owners. Check it out for insightful information.

Here are this month’s new features; we’re sure you’ll find them innovative.

What’s new in February

Simplifying QuickBooks Time setup in QuickBooks Online Payroll

Share documents with an employee through their profile in QuickBooks Online Payroll

Assign more tasks with custom roles in QuickBooks Online Advanced

Chase Bank statements now automatically import to QuickBooks Online

Cash flow projections to be discontinued on February 2, 2024

Direct deposit transaction matching in QuickBooks Online Payroll

Simplifying QuickBooks Time setup in QuickBooks Online Payroll

In a nutshell: You can get started with QuickBooks Payroll and QuickBooks Time faster than ever with a new integrated setup experience for tracking. The setup tasks and workflows for QuickBooks Time are available in Payroll Overview and Time Overview. 

The updated setup for QuickBooks Time guides you through these basics:

• Customizing timesheet fields.
• Enabling time tracking via mobile app or on-site kiosks.
• Inviting team members to track time in the Workforce app.
• Assigning permissions to edit timesheets.
• Setting up tablet or computer-based kiosks for time tracking at a work location.

You can also set up these advanced tasks for QuickBooks Time:

• Assigning groups and managers for approving time.
• Establishing break rules.
• Assigning team members to customers.
• Setting up geofencing for automated time tracking. 

To customize additional settings, select Overview in QuickBooks Time.

Share documents with an employee through their profile in QuickBooks Online Payroll

In a nutshell: To help simplify HR processes and secure private information, you can now upload and share documents to your employees’ individual Workforce profiles through QuickBooks Online Payroll. 

After you share a document to an employee’s profile, the employee will get an email notification. They can then securely sign in to Workforce and visit the Documents tab to view any shared documents and tax forms.

Note: At this time, shared documents are accessible through QuickBooks Workforce on the web but not the mobile app.

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Assign more tasks with custom roles in QuickBooks Online Advanced

In a nutshell: You can now assign more granular access to financial data using custom roles in QuickBooks Online Advanced.

Advanced lets you delegate with confidence by assigning roles you’ve customized to fit each team member’s day-to-day tasks. These roles limit access to sensitive financial and payroll data for a more effective separation of duties.

Custom roles now include these options:

• Control access to more types of transactions such as invoices, estimates, bills, expenses, purchase orders, and checks.
• More control of what team members can do with transactions, including view-only, create, edit, and delete.
• More specific access to task areas such as bank feeds, reconciliation, registers, chart of accounts, journal entries, and online bill pay.

In addition, you or your accountant can control who can view, create, edit, or delete transactions, as well access accounting features such as reconciliation, registers, and chart of accounts.

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Chase Bank statements now automatically import to QuickBooks Online

In a nutshell: If you bank with Chase, it’s simpler than ever to reconcile those transactions in QuickBooks Online. That’s because you can see your monthly statements right in QuickBooks. 

Now you can finish the books without taking the time to download and re-upload your statements each month. From the Reconcile screen, just select the Chase bank account and then View statements.

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Cash flow projections to be discontinued on Feb. 2, 2024

In a nutshell: Starting Feb. 2, 2024, cash flow projections will no longer be available in QuickBooks Online. However, you can still access all historical cash flow data for you and your clients after this date.

Direct deposit transaction matching in QuickBooks Online Payroll

In a nutshell: Starting this month in QuickBooks Online Payroll, matching direct-deposited payroll transactions will happen automatically without you lifting a finger.

With this update, each paycheck paid by direct deposit will be auto matched to a bank debit in Bank transactions. No more manually matching payroll transactions to paychecks one-by-one—just review the proposed categorization and move on with your day.

Note: After this update, you will see notifications of automatic matches; you can always turn off this setting if you prefer to match manually. All transactions will appear as “Intuit,” but detailed descriptions will still mention “Payroll.”

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