Continually improving our software
We are always introducing new features to our software to support the way small businesses and their accountants and bookkeepers manage their financial information. So we’ve recently introduced more enhancements to QuickBooks Online, QuickBooks Online Accountant and QuickBooks Tax powered by LodgeiT.
Some of the great new features include improvements to the way work papers and documents are managed, new time-saving features and enhancements to procedures for finalising a set of accounts.
QuickBooks Online and QuickBooks Online Accountant are leading software tools that help small accounting and bookkeeping firms to manage their clients, workflow, time tracking and billing. QuickBooks Tax powered by LodgeiT, is an online tool to manage your tax & BAS preparation and lodgement needs.
Let’s take a look at some of the recent additions to our software.
Prep for Taxes’ new features
Designed for accountants and bookkeepers, Prep for Taxes is a QuickBooks Online Accountant tool that lets you review a client’s accounts from a single dashboard, similar to a trial balance. Use it to review and adjust accounts as well as automatically export account data to the required tax and BAS fields in QuickBooks Tax powered by LodgeIT. Here are some of the recent amendments to this function.
- We have enhanced the document manager function, which is a useful tool for filing client documents such as bank statements or loan documents. This is a very popular feature that allows accountants and bookkeepers to maintain a central repository of all a client’s document in one place.
- We have introduced new functionality to the review and adjust function, to easily toggle between tabs to review balances compared to previous years. You can also easily save your progress on a task.
- We have also enhanced the year-end task function that helps accountants and bookkeepers to streamline their work. This quickly and easily provides a summary of all the tasks that need to be completed when preparing a client’s taxes.
Updates to QuickBooks Online
QuickBooks Online is easy-to-use, cloud-based software for small businesses and their bookkeepers and accountants. Here are some of the additions we’ve recently made to help improve users’ workflows.
- We have introduced a new and improved client view and changed the name of our month-end review feature to Books Review. This feature streamlines the way accountants and bookkeepers check their work, so we renamed this feature to better reflect its function. More improvements will be added to this feature over time, such as the ability to view information on a quarterly basis, so watch this space.
- We have updated our cash flow planner feature. Now, a machine learning algorithm is used for cash-flow planning purposes and supports our invoice payment prediction model. This feature is an industry first.
- We have also updated the cash flow planner so it’s now available on the QuickBooks Online mobile app for both iOS and Android.
- We’re also improving receipt capture, along with the ability to track multiple users when tracking kilometres within our app.
QuickBooks Tax powered by LodgeiT expanded features
QuickBooks Tax powered by LodgeiT assists accountants and bookkeepers to automatically pre-fill BAS and tax data from QuickBooks Online and other accounting solutions. We have also added to the functionality of this popular software. Let’s take a look.
- We have improved the outcome of assessment feature so accountants and bookkeepers can automatically let customers know their outcome of assessment is ready to view.
- The new client function has also been updated. We now offer the ability in QuickBooks Tax to automatically compare information with QuickBooks Online Accountant. Make sure to tick the box in the setting to access this feature.
- We are also adding improved integration functionality between QuickBooks Online and QuickBooks Tax to streamline account processes and maximise data sharing.
QuickBooks Quick Tip
Most report dates default to the financial year (1 July to 30 June) however if you need to review your client’s reports for a different date range, you can set it to suit your needs. If you go into the Accountants Tools area, you'll find an option called Report Options. Select this option, set the required date range for your client and then view the reports. Please note this feature works with most reports like the Profit and Loss Statement and Balance Sheet, but not all.
Giving bookkeepers and accountants certainty
We are constantly committed to delivering certainty to the Australian accounting and bookkeeping community so we are offering you the opportunity to access QuickBooks Online at an 80 per cent discount for three years. This offer is available until 31 July 2020. To find out more, talk to your account manager or call us on 1800 618 521.