QuickBooks updates for January
Intuit has released several updates for QuickBooks Online, QuickBooks Online Accountant and QuickBooks Online Advanced.
QuickBooks Online and QuickBooks Online Accountant:
For QuickBooks Online and QuickBooks Online Accountant, “business view” is now available to help new small business users get up and running quickly on the platform. Business view is meant to reduce complexity by providing additional guidance on key workflows, simplifying accounting jargon that may be confusing or unfamiliar to business owners, and puts cash flow front and center, as this is often the most important information to a small business owner.
Business view is an evolution of what is currently called “accountant view,” and can be found in the "+New" (create) menu. Business view uses different terminology and a slightly different presentation from accountant view.
Accountant view is not going away, though. It will always be available for users and will remain the default for accounting professionals who access their clients’ books through QuickBooks Online Accountant. Accounting professionals who want to switch from business view to accountant view (and vice versa) can do so by going to account and settings → advanced → user view, toggling to the view they prefer, and pressing save.
Business view is currently available to a small group of QuickBooks Online users, and the experience will continue to evolve as Intuit learns more about how users are using the option.
Currently in a limited beta, tagging is a new experience that enables users in all versions of QBO to tag and track their front-of-house data in a flexible way.
With tags, QuickBooks users can cut, search for, and report on their transactions in a way that makes sense to them, without having to use the chart of accounts. They are similar in concept to classes, but rather than being a single list, tags can be put into groups. Users can then assign tags from multiple groups to their transactions and create reports group by group. Tagging will be available in both the business and accountant view, first just on expense and invoice forms, with more transaction forms to follow.
QuickBooks Online Advanced Enhancements:
- Online back-up and restore. Formerly known as ChronoBooks, QuickBooks Online Advanced’s online back-up and restore feature allows users to sync and back-up company data, restore data to any historical point-in-time and track changes, including a log of saved versions over time. This feature is now available for all Advanced users free of charge. More information on this enhancement is available here.
- Batch transactions. New capabilities include the ability to batch create checks and bills. QuickBooks Online Advanced will also soon introduce even more batch transactions specifically requested by accountants, including batch invoice copy and paste, which will allow users to copy and paste from Excel or Google Docs to the batch transactions screen. Also coming soon is batch invoice payment enabled, enabling online payments in batch invoicing and is similar to a single invoice.
- Enhanced custom fields. Soon, Advanced will offer a total of 36 custom fields (up from the current 10), allowing accounting professionals to track more granular data across sales reports, purchase orders, customer profiles and more. This expansion will include 12 customer custom fields, 12 sales custom fields, and 12 purchase order custom fields.