Did you know that March is International Ideas Month? Let’s take a moment to acknowledge new innovations and discoveries that simplify a task. In fact, you’ll find some time-saving ideas in this month’s updates!
In the Know Webinar
The next In The Know webinar will be held Thursday, Mar 14 at 11 AM PT. In the Know is a monthly webinar to learn more about the latest and greatest product feature updates. This month, join us to learn about 1099 corrections, QuickBooks Commerce and Inventory features, and more.
What’s new in March
- Upcoming QuickBooks innovations in 2024
- Simplify order management and visibility with Commerce
- Explore more ways to batch reclassify transactions
- Add multiple approvers to workflows
- More control in apps connected to QuickBooks Online
- New KPI insights for your business
- Assign payroll items to multiple employees at once
- Start running QuickBooks Payroll with a keyboard shortcut
- Get Allstate Health Solutions through QuickBooks Online Payroll
- Join Mineral HR for a live walkthrough of the new and improved Mineral Platform
Upcoming QuickBooks innovations in 2024
In a nutshell: Innovation drives everything we do at QuickBooks, from our very first product launch to our current suite of products that help your clients manage their businesses and prepare for the future.
Get a sneak peek of the exciting innovations coming to:
- QuickBooks Online Accountant
- QuickBooks Online Advanced
- QuickBooks Online Payroll
Plus, find out about our newest offering, QuickBooks Bill Pay.
Simplify order management and visibility with Commerce
In a nutshell: Give your e-commerce clients easier inventory, order, and bookkeeping management in one convenient platform designed for businesses similar to their businesses.
With updated inventory functionality available in QuickBooks Online Plus and QuickBooks Online Advanced, your clients can simplify inventory tracking and order workflows using automated accounting across sales channels. These features will gradually roll out to clients on these plans, starting with product-based businesses.
Using the Product and Services tab in Plus and Advanced, clients can get better visibility of all their products and variants, including stock levels and cost details. They’ll get notifications when inventories are low, and can quickly create purchase orders to restock. They’ll also be able to track new orders from multiple sales channels—and get insights on top-performing products and cross-channel sales trends.
Along the way, you and your clients will know where their money is going. You’ll get a clear view of profitability by automating reports to track the costs of their goods. Plus, you’ll get the peace of mind that expense payouts will automatically appear in their books.
Explore more ways to batch reclassify transactions
In a nutshell: You and your clients can now access a powerful tool to batch reclassify additional attributes of bank transactions.
Rather than opening one transaction at a time to change it manually, you can quickly edit an entire batch of one type of bank transaction such as expenses or deposits. This update makes batch changes available to your clients in addition to accountants, and it allows you to edit more elements of a bank transaction.
Select Bank transactions and choose Categorized to start batch-editing bank transactions in fewer steps.
Add multiple approvers to workflows
In a nutshell: Workflows in QuickBooks Online Advanced recently expanded to include multiple conditions. Now, client workflows in Advanced can include multiple sequential approvers for bills that meet their particular conditions.
No matter what your client’s organizational structure is, they’ll have the flexibility to set up the bill approval workflow that ensures their bills reach all necessary stakeholders before getting paid. Plus, you and your client can track and reference an audit trail of these approvals in real time, during and after the process.
More control in apps connected to QuickBooks Online
In a nutshell: Accountants and business owners now have more control over which apps are connected to QuickBooks Online.
Each primary admin on a QuickBooks subscription can now disconnect apps that were connected by others using the same subscription. Previously, primary admins could only view Admin info for apps connected by other admins. Now, they can focus on the apps they depend on by choosing Disconnect to remove unused or unwanted apps from the list.
New KPI insights for your clients’ businesses
In a nutshell: You now have more ways to track your client’s business performance.
In the homepage or Business overview, you’ll be able to choose from a few new widgets to highlight specific KPIs. Adding new insights helps you and your clients understand their business’s performance and financial health.
New widgets include the following:
- Mileage summarizes client travel mileage during business trips added to QuickBooks Online. This widget was previously exclusive to QuickBooks Online mobile.
- Accounts Payable summarizes short-term debts and liabilities your client’s business owes its vendors and suppliers.
- Accounts Receivable summarizes the amounts your client’s business has invoiced but not yet received.
To add a new widget, select Customize layout, then Add or remove widgets.
Assign payroll items to multiple employees at once
In a nutshell: QuickBooks Payroll now allows you to quickly create and assign payroll items to multiple employees.
Instead of making updates to employee information from their individual profiles, you can select Edit Payroll Items on the Employees tab to do more in fewer steps:
- See all pay types, deductions, and contributions assigned to employees.
- See all employees assigned to each pay item.
- Assign multiple employees to each pay item in a simple workflow .
- Filter employees by work location, employment status, and employee type.
- Edit multiple employees’ assignment details simultaneously.
Help your clients confidently scale their businesses with the robust employee management capabilities of QuickBooks Payroll.
Start running QuickBooks Payroll with a keyboard shortcut
In a nutshell: To help you and your clients save time, you can now use a keyboard shortcut to run payroll from anywhere in QuickBooks Online.
After logging in to QuickBooks to run payroll, you don’t need to spend time navigating through multiple screens to reach the Payroll tab. Just use Ctrl + Alt/Option + “u” to start the workflow for running payroll, so your client can get their team paid.
Note: To view all available shortcuts, press Ctrl + Alt/Option + Command/Windows key + “/”.
Get Allstate Health Solutions through QuickBooks Online Payroll
In a nutshell: For your Payroll clients that don’t yet provide health benefits for employees, selecting and implementing the right plan can seem daunting. We’re thrilled to share our partnership with Allstate Health Solutions to simplify this process.
QuickBooks Payroll subscribers can now easily access a variety of affordable, flexible healthcare packages through the Benefits tab. Allstate Health Solutions offers 200+ health insurance carriers, both nationwide and local. Your clients can also enhance their coverage by adding vision and dental plans at no additional cost to them.
After your client chooses a package, QuickBooks will seamlessly integrate and manage their payroll deductions.
A dedicated team of Allstate Health Solutions agents is on hand to assist your clients in comparing plans, exploring health savings options, and applying for coverage. They’ll make sure your clients have the ongoing support they need while exploring their options and after they’ve enrolled.
Join Mineral HR for a live walkthrough of the new and improved Mineral Platform
In a nutshell: Starting March 18, Payroll Elite and Premium subscribers will have access to the new and improved Mineral Platform that expands their HR resources.
Join Mineral for walkthroughs of these improvements, hosted on Zoom. Among many exciting updates, you’ll learn how to:
- Consult with your Mineral HR Experts.
- Create your Smart Employee Handbook that’s never out of date.
- Navigate a multitude of HR compliance resources, tools, and templates.
Sign up for the Zoom webinar, which is available on two dates for your convenience:
March 18, 2024, 10 AM PT
March 26, 2024, 10 AM PT
Important product information
Get Paid Upfront/Line of Credit loans are issued by WebBank.
1. Each invoice advance and each cash draw is a separate, closed-end term loan that has its own loan amount, interest rate, and payment terms. Cash draw feature only available for those meeting certain criteria determined by the lender; if eligible, to take advantage of this feature, submit an application, which will be reviewed for credit worthiness and verification of additional information prior to final credit decision.
2. Interest rates vary and depend on the applicant’s credit profile and other factors.
Original article from the Firm of the Future Blog by Chau Haner
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