Today, Intuit (NASDAQ: INTU), the global financial technology platform that makes Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, unveiled a wide range of new innovations at its 10th QuickBooks Connect conference to better serve the accounting community and small business customers through Intuit’s QuickBooks online ecosystem.
Returning for its second year, the sold-out Las Vegas show gathers over 2,500 bookkeepers and accounting professionals. Attendees enjoy three days of programming, building relationships, hearing from influential leaders, earning CPE credits, and seeing the latest updates from Intuit QuickBooks. As a leading financial technology platform, QuickBooks empowers millions of small and mid-sized businesses to start up and scale up.
“Accounting professionals are our most valued partner. QuickBooks Connect allows us to foster deeper relationships with them so we can work better together to empower and fuel small business success,” said Jeremy Sulzmann, vice president of the QuickBooks Accountants Segment. “Our 2023 event is doubling down on how AI-driven innovations can help accountants and the small businesses they serve gain insights to make more informed business decisions. Together, we’re unlocking new ways to power prosperity.”
Introducing QuickBooks Ledger
QuickBooks Ledger is a cost-effective product exclusively designed for accountants to serve all their clients on a standardized platform. This includes clients with basic accounting needs and year-end tax filing. QuickBooks Ledger simplifies manual workflows through automation, allowing accountants to focus on higher-value services. It offers features like automated bank feeds, bank reconciliation, financial statements, 1099 tracking, and seamless transition to tax preparation. Accountants can access QuickBooks Ledger through QuickBooks Online Accountant, enabling them to manage end-to-end workflows for all clients in one place. Initially available in the US, it will soon be launched in Canada, the United Kingdom, and Australia. For more information, visit here.
QuickBooks Online Accountant improvements
QuickBooks Online Accountant (QBOA) is the platform for accounting professionals to manage their firm and clients. New QBOA improvements announced at QuickBooks Connect help accountants save time and streamline workflows. The innovations include:
- Expanded Roles and Permissions: More customizable roles and permissions are introduced to access firm and client books. Accountants can limit access to banking, sales, or expense data and delegate sensitive tasks to experienced employees.
- Chart of Accounts Templates: Accountants can save time by using ready-made or customized templates for chart of accounts. Templates can be created from scratch or imported from Microsoft Excel.
- Improved Add Client Experience: Accountants can easily connect new clients and add QuickBooks Payroll and QuickBooks Time through the QBOA dashboard. Soon, QuickBooks Bill Pay and QuickBooks Payments will also be available. This simplifies workflow and brings the benefits of the QuickBooks ecosystem to clients faster.
New QuickBooks ProAdvisor Program
The QuickBooks ProAdvisor Program has supported accounting professionals for over 25 years. It offers exclusive discounts, tools, training, and events to help them grow their businesses and retain talent. The program has been refreshed in partnership with the accounting community to provide more value at every growth stage. Here are the key changes:
- Pre-written email campaigns and templates for client relationship management and QuickBooks product enhancements.
- New discounts and benefits for full-service accounting firms using Intuit’s ProConnect professional tax solutions.
- Training on third-party app integrations and Intuit’s ProConnect tax solutions.
- Premium customer support extended to Gold ProAdvisors, accountant-approved apps, and special events.
- Newly designed certification, tier, community, and skills badges to showcase ProAdvisors’ expertise to potential clients.
To learn more about the program and its benefits, click here.
QuickBooks Online Ecosystem Improvements
QuickBooks Online ecosystem improvements that meet the ever-evolving needs of more complex, growing businesses, were also announced at QuickBooks Connect. Product improvements announced included:
QuickBooks Online Advanced
QuickBooks Online Advanced offers flexible solutions with add-ons for businesses as they grow. It includes workflow automation, improved reporting tools, and seamless integrations with third-party apps for better performance, scalability, and customization. New enhancements include:
- Expanded Role-based Access Controls: Customers can assign specific roles and permissions for team members’ job functions. Business owners can control transaction actions, reconciliation, registers, journal entries, and reports access.
- Custom Reports and Charts: QuickBooks introduces custom calculations, KPIs, and the addition of any report or chart to Management Reports for informed decision-making.
- Fixed Asset Module: Advanced’s new fixed asset module streamlines the process of adding, tracking, depreciating, disposing, and reporting on fixed assets, ensuring accurate and compliant financial records.
- Approval Workflows: Advanced customers will soon have access to expanded approval workflows, allowing business owners to automate compliance and organizational policy enforcement. New estimate approval workflows ensure estimates are approved prior to customer sharing. Multi-level and multi-condition approval workflows route approvals based on organizational hierarchy and various transaction conditions. Transactions must be approved before being posted to the general ledger, ensuring accurate financials.
QuickBooks Online Payroll streamlines team management for growing businesses with enhanced features that simplify Human Capital Management (HCM) by integrating payroll, time tracking, HR, and employee benefits. New and improved capabilities for QuickBooks Payroll customers include:
- HR Tools: QuickBooks Payroll offers an HR hub for employers, with features such as document management, employee records, organization charts, team directories, and a mobile app for employee self-service.
- Payroll Cost Allocation: QuickBooks Payroll allows customers to split employee payroll costs into multiple classes and projects, ensuring accurate tracking without the need for additional journal entries.
- Payroll Item Management: The new pay item management tool provides business owners with a consolidated display of pay types, deductions, and contributions for employees, allowing for easy creation, assignment, and editing of pay items.
- Allstate Health Solutions Partnership: QuickBooks has partnered with Allstate Health Solutions to provide enhanced insurance options for QuickBooks Online Payroll customers, allowing for seamless synchronization of employee deductions with payroll.
For the latest updates on QuickBooks Payroll, click here for more information and details.
QuickBooks Online e-commerce innovations
QuickBooks is introducing new e-commerce innovations for QuickBooks Online to assist small businesses in efficiently managing inventory across multiple sales channels from one central location. Instead of using ineffective methods like spreadsheets and pen and paper, product-based businesses can now utilize enhanced e-commerce capabilities to confidently manage orders and inventory with ease. These updated features enable customers to sync sales channels, identify growth opportunities, maintain accurate inventory, and seamlessly replenish low stock.
For further information on how QuickBooks Online supports accounting professionals and small businesses, visit QuickBooks.com.
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This information is intended to outline general product direction, but represents no obligation to deliver future features and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply. Eligibility criteria may apply.
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