Intuit announced that new features are coming to its QuickBooks products, primarily focused in the areas of Accounts Payable and Accounts Receivable, workflow efficiency, and Intuit Enterprise Suite, are on the way based on recent feedback from accountants.
According to its latest announcement, below are some of the key updates the Intuit team has made in response to partner feedback:
QuickBooks Online Accountant
Accountants now have the ability in QBOA to create and assign granular role-based access to clients’ books. This was designed to help better fit team needs and precise permissions for the creation, editing, viewing, and deletion of 14 additional features in QBOA.
Additional new features added within QuickBooks Online Accountant include:
- Custom client IDs: Enter your firm’s own internal tracking identifiers into the new custom client ID field to streamline client tracking and navigate directly to a client’s books.
- A Work tab: Create standalone tasks and organize and search with more robust filters.
- See the latest accountant-related updates: In QuickBooks Online Accountant, select the megaphone in the menu bar to find feature and product info, articles, and resources.
QuickBooks Bill Pay
Accountants can now request optimal bill pay limits on behalf of their clients to ensure smooth payment processing and can also add Bill Pay directly into their clients’ books during the onboarding process, rather than after-the-fact. Clients can also subscribe to a Bill Pay plan that best fits their needs without navigating a complex setup, allowing for flexible billing options, including ProAdvisor Preferred Pricing with the choice to either bill their firm directly or have the client billed, offering more control.
QuickBooks Payments
Accountants can help ensure continuous cash flow for their clients by scheduling recurring payments and autopay. This also minimizes disruptions and manual work by setting up recurring payments for their clients’ ongoing charges. Additionally, clients can simplify getting paid by accepting in-person payments via iPhone using the new Tap to Pay, available through the QuickBooks GoPayment app or QuickBooks mobile app.
Intuit Enterprise Suite
Accountants provided the feedback that they encountered some efficiency and forecasting hurdles while using Intuit Enterprise Suite. With that in mind, the latest updates were built to help solve these issues. The new Suite features were built to streamline multi-entity finances, increase financial planning, and help drive growth by finding new opportunities to deliver strategic advice and insights. Supporting the generation of dimensional P&L forecasts, accountants can benefit from in-depth analysis and projections of revenue, expenses, and profit inside the dimensions important to businesses, including departments, regions, programs, funds, or product lines.
Additionally, accountants can now pre-set multi-entity allocations to avoid the manual work of selecting accounts for each intercompany transaction. With account mapping, firms can help clients establish default accounts to help ensure intercompany allocations hit the right debit and credit accounts, even if the task was delegated.
AI Tools
Coming soon, an AI Accounting agent designed specifically to work alongside a firm’s expertise and guidance will automate core accounting tasks. Additionally, a Payments agent will be available to accountants that recommends payment strategies for clients’ accounts receivable and auto-generate their communications with customers.
For additional information on these features, you can visit Firm of the Future.