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Enhancements to QuickBooks Online, Advanced and Accountant for July


Intuit updates this month include new features and experiences within QuickBooks Online, QuickBooks Online Advanced and QuickBooks Online Accountant (QBOA) designed to help accounting professionals work more efficiently and elevate their role as a trusted advisors.

Jul 14th 2020
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The following are the list of products and their relevant new or improved features:

QuickBooks Online Accountant

1. Industry Benchmarks

The latest addition to QBOA’s Business Performance Dashboard, Industry Benchmarks was built to allow accounting professionals to quickly access industry comparisons and trends for their clients’ businesses. To help ensure accuracy, the data used to generate benchmarks is pulled only from QuickBooks Online accounts that are attached to an accountant and where the books are regularly reconciled.

2. Month-end Review

This is platform enables accountants to standardize and automate their review process to help deliver accurate books in less time. Accessible within the Accountant Tools tab of QBOA, this accountant-only feature uses QuickBooks to identify and inform accountants of common client issues and hard-to-find anomalies. Users can review and prioritize required tasks with automated, organized, and customizable lists and workflows.

Month-end Review is currently available to all QBOA users in the United States as an “open beta.” Intuit will continue to evolve the experience over the coming weeks, including rolling out additional enhancements and functionality to help accounting professionals save time and better serve their clients.

QuickBooks Online Advanced

1. Invoice Approvals (accessed via “Workflows”)

A control tool that allows users to create invoice approval rules and designate invoice approval personnel within a few clicks. Once these rules are set up, the client can then process large volumes of invoices while maintaining the confidence that the invoices meet the company's approval rules.

2. Task Manager (accessed via “Tasks”)

This feature automates task delegation and unlocks a critical collaboration capability for mid-sized businesses. Users can create reminders for themselves or delegate tasks to other users. Upon login, team members can respond to the tasks accordingly.

3. Bank Statement Auto-Import

New to QBO Plus and Advanced, connected bank accounts will now have bank statements automatically imported and available for reconciliation. Intuit currently supports this feature for over 1,500 banks and credit unions, and is working to expand this list in order to make this feature even more widely available.

QuickBooks Online

1. Custom Email for Receipt Forwarding

QuickBooks Online users can now create custom email addresses for email forwarding of receipts and bills. This simplifies operations for accountants with access to multiple companies, allowing them to send important documents to all of their QuickBooks Online clients. This feature is currently live to 10 percent of US, UK, AU companies and will continue to rollout further during the coming weeks.

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