0
0

Whether you celebrate a traditional holiday or make your own traditions, December is a universal time of reflection, connection and celebration. Thanks for setting aside some time to spend your holiday with us! We have a lot of new features in December, so grab a hot chocolate, sit back and immerse yourself in all things QuickBooks®.

Coming Soon! Bill Incrementally with Progress Invoicing in QuickBooks Online

Waiting until the end of a long project to bill a client/customer and get paid isn’t fun. Thankfully, QuickBooks Online has a solution for project-based businesses to invoice and get paid faster. Progress Invoicing helps these businesses bill incrementally and accept payments throughout the course of their job or project. You’ll be able to divide your project quote into multiple invoices based on project milestones or stages. Once you are ready to begin billing a client, you can quickly create and send an invoice based on the estimate. Progress Invoicing will also track the estimate total, amount that was invoiced and the remaining amount to be invoiced. As the project progresses, it’s easy to issue the client or customer incremental invoices for each completed stage. Once the job is done, QuickBooks lets your client or customer know that billing is complete and closes the estimate. Progress invoicing will be available in the new year.

New! QuickBooks Capital Small Business Loans Available in QuickBooks Online

Remember the days when your grandmother would tuck a 20 dollar bill in your holiday present that helped you purchase your shiny, new Schwinn bike? Likewise, wouldn’t it be nice if a working capital loan were tucked into QuickBooks Online? What if there was a way for small businesses to get more money when they needed it to buy more inventory or hire more people?

Well, have we got news for you! In November during QuickBooks Connect, Intuit® unveiled QuickBooks Capital, its innovative lending solution for small businesses. Using a breakthrough credit model, Intuit is able to help young, small businesses overcome the barriers they have traditionally faced in accessing small dollar loans. Intuit uses your QuickBooks data to understand historical and ongoing business performance, and rewards you for the successful stewardship of your business.

A streamlined and transparent application process is embedded within QuickBooks, enabling you to access funding within your daily workflow. Eligible QuickBooks Online users will be notified of this funding option via an in-product message when they log in and from a Tips screen on their dashboard. From there, you can click to learn more and apply for a loan. The online application only takes a few minutes, because most of the information is pulled and prefilled from your QuickBooks file. These are short-term working capital loans ranging up to $35,000 and six months in duration. Once submitted, loan applicants will receive a decision within 2-3 days.

 

If approved, you choose the amount you want to borrow, and it’s deposited in your business bank account within two business days. Customers are delighted! For ease of repayment, weekly ACH payments will be debited from your bank account, and you can track the loan in the Capital tab from within QuickBooks. If you want to minimize interest expense and pay off the loan early, you are welcome to do that with no prepayment penalties.

Traditionally, applying for a loan has been a cumbersome, painful, and anxiety-producing experience for small businesses. QuickBooks Capital has set a new standard. When you need funds to reach your next milestone, visit quickbookscapital.com and see what’s possible. Learn more.

New! 24-Hour Direct Deposit in QuickBooks Online Payroll and QuickBooks Full Service Payroll

Having to schedule payroll many days in advance can be problematic when you are tight on cash flow. Introducing Free 24-Hour Direct Deposit for QuickBooks Online Payroll and QuickBooks Full Service Payroll! Now, with the new one-day processing, you can submit a payroll request up until 5 p.m., PT, the day before payday. Just enter each employee’s hours as you normally would. The confirmation screen will display when the funds will be withdrawn from your bank account and deposited into the employee’s bank account. The new 24-Hour Direct Deposit gives you the flexibility to run payroll when it’s right for your business, and keeps you in control. That makes for a very happy holiday! Learn more here.

Coming Soon! Contractor W9 Self-Setup and 1099 E-Delivery in QuickBooks Online

Great news as we head into tax season! QuickBooks has simplified tax set up and reporting for independent contractors and freelancers. With Contractor Self-setup and 1099 e-delivery in QuickBooks Online, you now have the option of a paperless, integrated tax set up and filing experience for self-employed workers.

When you begin a relationship with a contractor or freelancer, you can gather their W-9 information as part of the onboarding process. No more chasing them down every January and asking them to fill out and sign a paper form! To start, click on the Workers tab in your QuickBooks and add a contractor. Fill in the contractor’s name and email, and click Add Contractor. In response, an email is sent to your contractors asking them to create an Intuit account by filling in three fields, and then they are walked through the W-9 set up. Once they have filled out the W-9, their information is automatically populated in your QuickBooks. It’s that easy! You can now gather W9 information with just one click!

As tax time comes around, 1099 e-delivery allows you to electronically deliver 1099 forms to self-employed workers, as well as the IRS. Go to the Workers tab and click on Prepare 1099. You’ll be given the option to provide the form electronically to the government and contractors for a fee. Note, this must be completed by 5 p.m., PT, on Jan. 27, 2018. Or, you’ll also have the option to print and mail the form to the IRS and the contractors for free. The 1099 e-delivery feature enables employers to have an end-to-end e-filing experience.

The contract worker’s W9 and 1099 forms are stored electronically in their password-protected Intuit account, and they can access them at any time. Both Contractor W9 Self-setup and 1099 e-delivery will go live in late December.

Available in Labs! Updated Reports Landing Page in QuickBooks Online

Do you like to see what’s new before we widely release a feature? Available in Labs for QuickBooks Online Accountant and QuickBooks Online, Your Reports page has a fresh, new look and simpler, easier navigation. It was redesigned to make it easier to find your favorite reports and run them. Reports are now visible on one page and grouped by subject area in everyday language. Collapse and expand different report groups for easier viewing. Mark your favorite reports you use the most and they will stay at the top of the page. To turn on the feature in Labs, go to the gear icon in the upper right of QuickBooks Online. Under Settings, click on QuickBooks Labs and turn on Easier-to-navigate reports.

That’s all for now! All of us at Intuit wish you and your loved ones a very happy holiday. We’ll talk to you in the new year!

The post What’s New in QBO: December 2017 appeared first on QuickBooks.

.


This content was brought to you by the QBO world team. We are continually scanning the web to bring you relevant, quality content to help you with all things QuickBooks Online. Please take a moment to rate and/or leave a reply which will help us.


Intuit QuickBooks Online Blog