Welcome to the monthly insight blog featuring your May product updates. This month we showcase the New Practice Management tools – find out more. Streamline your work amongst your team members with improved communication, save time with your construction clients with our new CIS dashboard and learn how your clients can easily import data.
Don’t let anything fall through the cracks:
We hear from accounting professionals like you, who tell us that when it comes to managing their practice: anecdotes of missed deadlines and the fear that something will fall through the cracks.
That’s why we’ve created the Practice Management feature in QBOA, designed to be the one place for accountants to effortlessly and seamlessly manage workflow, client communications and daily operations.
Here are three key ways the Practice Management feature in QBOA will help you save time and empower their growth for long-term financial success:
#1: From multiple places to track client information and workflow to integrated task creation and completion in QuickBooks Online Accountant.
The Practice Management feature reduces the number of tools you need to manage their practice to just one. This solution is designed to eliminate the disjointed experience of manual tracking, and provide a unified view of your work that delivers visibility across all initiatives. easily create and assign tasks directly within QBOA, which are then automatically marked as complete, once they are finished. As always, you can access this feature anytime, anywhere.
#2: From cumbersome and manual tracking to a unified view of work for managers and team members.
Practice Management will allow you to stay on top of your firm’s workflow by keeping track of all deadlines, across all employees and across all clients. The new dashboard feature will display an overview of your workflow and provide visibility into each initiative, track processes and manage notifications, so that you can be confident that no deadlines will be missed.
#3: From spending time tracking down source documents from clients to always knowing what you asked for, what you received and what you’re still waiting on.
Practice Management allows you to save time and streamline their client collaborations directly within QBOA. Send messages to clients within the platform, securely share and access documents, and track the status of requests, all in one place. With the Practice Management feature in QuickBooks, you can more efficiently communicate with clients and always have insight into what they have requested, what they have received and what is still needed.
Improve communications with your firm
We’ve introduced several new features to streamline work amongst your team members in QuickBooks. Assign a lead accountant to a client, view who in the firm has made changes in the audit log and create custom reports
CIS New Tax Dashboard
If your client is a contractor working in construction, you’ll be aware of CIS and all the paperwork that goes with it. Launching in May, all CIS contractors will be able to see their CIS deductions and view their CIS returns from one place, which will save your client time and allow them to cut down on the paperwork.
A view of the new CIS tax dashboard
With CIS switched on, QuickBooks will help your client calculate CIS deductions on your invoices, expenses, and bank transactions. And it doesn’t end here, we’ll continue working on CIS.
Time Tracking just got a new look
While time tracking will still be fast and easy, it will now reflect QuickBooks look and feel your clients are accustomed to using. With more businesses working on the go, we’ve also created a new and exciting mobile time tracking experience to simplify the process and make your client’s businesses more productive.
The look and feel have both been updated to provide your clients with a more responsive experience, as well as the ability to log in from mobile devices anywhere, anytime. In addition, time-tracking employees can submit weekly timesheets, enter single time activities and make these time entries billable to a specific customer. A summary report of the time activities submitted will also be available.
Here’s another benefit for small business owners: Unlike other QBO roles, such as “company admin” or “customer & sales,” time-tracking-only users are non-billable, so clients can add as many time trackers as you need to run your business.
App Spotlight of the month: Import data the easy way, with SaasAnt Transaction Manager
With SaasAnt Transaction Manager your clients can import data from Excel or csv files into QuickBooks, and map their transactions to the correct QuickBooks list, automatically.
If they are using other software to run their business daily, this is a must-have tool to upload transactional data into their QuickBooks account. The mapping is easy to do; it will save them time as they do not need to key-in the data manually. And if they make a mistake they can also easily delete the transactions they have uploaded. No hassle, no extra work!
Similarly, if your clients have just moved from using Excel spreadsheets to using QuickBooks, they can easily upload historical data, in a few steps. They don’t lose anything.
Don’t forget this month’s webinar
Our webinar on the 1st June at 11.30 am will cover the following:
- Demonstration of the Practice Management feature
- CIS Tax Dashboard
- Time Tracking
QuickBooks Tip of the Month
Do your clients need help setting up Payroll in QuickBooks? Then see our step by step guidance on how they can set up their Payroll.
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.
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