Hi, and welcome to the QuickBooks product update. We’re constantly improving QuickBooks Online to help you prepare your business for success, so here we’ll tell you about some of the most important recent upgrades.
As always, these features are available for you when you log in – there’s no need to download or install any updates.
We’ve made a number of changes to online banking, which will provide you with more control and greater accuracy when you download and accept transactions.
Ordering of rules: You can now create a hierarchy of rules when categorising your bank transactions, enabling the level of precision some businesses need. Here’s an example:
- Rule 1: Categorise all transactions under £10 as Miscellaneous Expenses.
- Rule 2: Categorise all Starbucks transactions as Meals & Entertainment.
In the case of a £5 Starbucks transaction, only Rule 1 is applied.
You can find out more about setting up rules here.
Drag in the leftmost column to reorder. Transactions > Banking > ▼ to the right of Update > Manage rules.
Transaction type for rules: We added this based on your feedback, particularly for transfers. If you have a regular transfer between two accounts, you can now create an associated rule to save time when categorising your transactions – spend more time growing your business and less on your accounts!
Transactions > Banking > ▼ to the right of Update > Manage rules > New rule.
Manual update function: Get the latest information from your bank in just one click. Transactions from your bank will be processed in the background while you continue to use QuickBooks.
We know how important perception can be in business, so we introduced the Management Reports function in Quickbooks to help you to present your organisation effectively and leave the right impression. We’ve added a couple of new features.
Add custom reports: Now your Management Reports can include key custom reports that you’ve created, helping you to share the precise data that’s relevant for your business with advisors, investors and business partners. (For more on how create customer reports, watch this video.)1
Reports > Management Reports > click Edit in the Action column > click Reports in the left column.
Delete Custom Form Styles: Customising forms such as invoices in QuickBooks is great, but what about the ones you don’t want any more? Well, now you can clean up your QuickBooks interface by deleting Custom Form Styles that you no longer need, reducing the chance of selecting the wrong one by mistake. (If you’re not sure about Custom Form Styles, have a look at this.)2
Gear > Custom Form Styles > Action column > Delete.
Your opinion is important to us: customer feedback helps us decide what features to add to QuickBooks. Here are some more new features that resulted from the things you told us.
Statement view in Customer screen: Another time-saving measure. Filter transactions for a selected customer so that only Statements are displayed, so that you can easily send them the most up-to-date information.
Customers > click a customer in the list > filter type by Statements.
Updated chart of accounts numbering: We’ve made the chart of accounts easier for you to use by providing more flexibility in how account numbers can be displayed. Sorting is simpler, and so is review of sub-accounts. You can even search for an account by its number. (This is where you can find out more about the chart of accounts.)
Gear > Company Settings > Advanced > Chart of accounts. Select both Enable account numbers and Use account numbers, and then click Save.
On the Chart of Accounts page (Gear > Chart of Accounts), you can show/hide the Number column by clicking the gear above the table. To batch edit account numbers, click the pencil icon.
We hope you find the new updates to QuickBooks useful and we welcome any feedback that you might have – please let us know what you think in the comments below
1 Unfortunately we haven’t managed to include all custom reports just yet. We’ll keep trying to improve this feature and will be sure to let you know. In the meantime, the following reports can’t be added to Management Reports yet: Company snapshot; Scorecard/trends; Payroll reports; Customer Contact List; Time Activities by Customer Detail; Unbilled Time; Statement List; Supplier Contact List; Account Listing; Reconciliation Reports; Time Activities by Employee Detail; Recent/Edited Time Activities
2 Don’t see these improvements yet? It’s because two versions of sales form customization currently exist, and you may have the older version. Everyone will get the new version soon; thanks for your patience!