Here's what's new in QuickBooks Online for May 2024

May is Small Business Success Month, a great time to assess where you are with regard to serving your customers and building value. While you’re at it, be sure to check out this month’s QuickBooks ecosystem updates.

What’s new in May

• Remind a customer of their unpaid balances
• Send invoices with text messages using QuickBooks Payments
• Batch-import journal entries
• Create Item and Sales Receipt transactions from a bank feed
• Digitize the I-9 employment verification process with QuickBooks Online Payroll
• Transfer QuickBooks Checking funds to an external bank instantly for a 1.5% fee
• More time-tracking functionality in QuickBooks Time entries

Remind a customer of their unpaid balances

In a nutshell: From QuickBooks Online, you can now send an email reminder to a customer that totals their unpaid balances—and makes it easy to pay them all at once.

Before this update, your customers would receive separate email reminders for each invoice, making it difficult for them to locate and remember to pay them.

To send a grouped reminder to a customer:

• Select Sales, then Customers.
• In the Action column for your customer, select Send reminder.
• Follow the steps to send a reminder to your customer about all their pending invoices.

Learn more

Send invoices with text messages using QuickBooks Payments

In a nutshell: If you use QuickBooks Payments, you can now send invoices to your customers through text messages, in addition to email. This helps create greater awareness of invoices and can make it easier for your customers to pay them. 

To access this feature, you must send pay-enabled invoices as a U.S.-based Payments merchant on the Rethink platform.

After selecting Review and Send in your invoice, you can select the option to Add text message. From there, you can preview the text message and add your customer’s mobile phone number as needed. Then, click Send invoice to send both the email and text invoice to your customer. 

Note: Ensure that you have permission from your customer before sending an invoice by text.

Learn more

Batch import journal entries

In a nutshell: Now, rather than depending on third-party solutions or manual work, you can batch import journal entries directly into QuickBooks Online. Uploading journal entries rather than re-typing them also helps ensure consistency and accuracy of your financial data. 

To upload one or more CSV files of journal entries, each with up to 1,000 rows of data, Select Settings, then Import data, and choose Journal entries.

Learn more

Create Item and Sales Receipt transactions from a bank feed

In a nutshell: Now you can create transactions straight from your bank feed to help improve reporting and insights on your business performance. 

Staying on top of sales performance and compliance takes extra time and work to manually create transactions and match them. Using your bank feed in QuickBooks Online, you can now add transactions to the books at a more detailed item level. You can also add transactions as Sales Receipts to categorize them more accurately. Plus, for the purposes of creating an Estimates vs. Actuals report in QuickBooks Online Advanced, you can split transactions from the bank feed by product or service.

Digitize the I-9 employment verification process with QuickBooks Online Payroll

In a nutshell: QuickBooks Online Payroll Premium and Elite subscribers can now collaborate more easily with their employees to complete I-9 employment verification.

Rather than rely on hard copies of this important form, you can simplify and digitize the I-9 process:

• As part of their QuickBooks Workforce self-setup, your new employee will fill out their portion to confirm their identity and eligibility for U.S. employment.
• On their start date, the employee would bring you their ID-confirming documents.
• Within 3 days of this start date, you would complete the employer part of the I-9 form in QuickBooks.
• Afterwards, for your safekeeping, the employee’s I-9 is stored in the Documents tab of their profile.

Note: QuickBooks Workforce must be enabled for an employee for them to self-setup and complete their I-9 form.

Transfer QuickBooks Checking funds to an external bank instantly for a 1.5% fee

In a nutshell: Now you can instantly transfer funds from QuickBooks Checking to an external bank for a 1.5% fee.**

You may have payments set up in your external bank account and want to use your QuickBooks Checking funds to quickly pay bills, payroll, or other expenses. With ACH, it takes a few days to transfer, which can cause stress if your business is already strapped for cash.

Now, you can avoid that wait time by instantly transferring funds from QuickBooks Checking to your external bank for a 1.5% fee.

QuickBooks and Intuit is a technology company, not a bank. Banking services provided by our partner, Green Dot Bank, Member FDIC.

Important pricing details and disclaimers

**Product Information

QuickBooks Checking Account opening is subject to identity verification and approval by Green Dot Bank.

QuickBooks Checking account: Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Green Dot Bank operates under the following registered trade names: GoBank, GO2bank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation. 

©2024 Green Dot Corporation. All rights reserved. QuickBooks products and services, including Instant Deposit, QuickBooks Payments, Cash flow planning / forecasting are not provided by Green Dot Bank.

**Features

Instant Transfer: Within up to 30 minutes. Instant transfer is an additional service offered by QuickBooks Checking subject to eligibility criteria, including delayed eligibility for new users. The service carries a 1.5% fee. Deposit times may vary due to third party delays. Limits apply. See Deposit Account Agreement for details.

More time-tracking functionality in QuickBooks Time entries

In a nutshell: You can now access more features of QuickBooks Time Classic without leaving QuickBooks Online.

Rather than switching between these two tools, you can use updated functionality in QuickBooks to help track employees’ time:

• See more timesheet details right in Time entries, including time tracked, GPS points, contractor time, attachments, notes, employees that are missing pay rates, and more.
• Choose a single day in the Time entries date picker to view entries from that day.
• Sort information in the Time entries table by columns as needed.
• Consult the new In/Out via column to see which device an employee used to clock in and out.
• Among other display options, choose All workers to see all worker time ready for approval.
• Get an alert in QuickBooks Online if an employee has tracked overtime.

Learn more