At this year’s QuickBooks Connect conference in Las Vegas, Nov. 13-15, more than 2,500 accountants learned about many new product and feature innovations that will help them serve their clients through the QuickBooks Online ecosystem.
“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 Partners Segment Business for Accountants at Intuit QuickBooks. “Our 2023 event doubled 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.”
Here is a summary of the new products and features.
QuickBooks Online Accountant improvements
QuickBooks Online Accountant (QBOA) is the one place accounting professionals go to manage their firm and QuickBooks clients. New QBOA improvements announced at QuickBooks Connect include the following:
- QuickBooks Ledger: Designed exclusively for accountants, QuickBooks Ledger is a cost-effective solution for businesses that may not yet require the full breadth of QuickBooks Online, and offers a seamless transition experience when they are ready to upgrade. Features include automated bank feeds, bank reconciliation, financial statements, 1099 tracking, and a seamless transition to tax preparation. Learn more about QuickBooks Ledger.
- Expanded Roles and Permissions: As accounting firms grow and serve more complex clients, more granular and customizable roles and permissions are needed to access the books of the firm and clients. QuickBooks is currently rolling out new advanced roles and permissions in QBOA to meet these needs.
- Chart of Accounts Templates: Now available in QBOA, Chart of Accounts templates save you time by streamlining the creation, customization, and saving of chart of accounts for new and existing clients. Accountants can build templates from scratch or customize ready-made product-based or service-based business charts of accounts. Accountants can also import templates from Microsoft Excel.
New QuickBooks ProAdvisor Program
For more than 25 years, the QuickBooks ProAdvisor Program has supported accounting professionals by giving them access to exclusive discounts, tools, training, and events to help retain talent and expand their businesses. The newly refreshed program was built in partnership with the accounting community and has evolved to provide value to accounting professionals and firms at every growth stage.
The reimagined program marks the start of a new era of continued investment in the accounting industry with more than 20 changes, including the following:
- Pre-written email campaigns and templates to support client relationship management and QuickBooks product enhancements.
- New discounts and benefits for full-service accounting firms that also use Intuit ProConnect Tax.
- New training on third-party app integrations and Intuit ProConnect tax solutions (additional terms, conditions and fees may apply).
- Newly designed certification, tier, and skills badges to differentiate ProAdvisor levels of expertise to potential clients.
Learn more about these new program benefits.
QuickBooks Online Ecosystem Improvements
QuickBooks Online ecosystem improvements were also announced at QuickBooks Connect. Product improvements announced included:
QuickBooks Online Advanced
QuickBooks Online Advanced provides a higher level of performance, scalability and customization for more complex businesses. New enhancements include the following:
- Role-Based Access Controls: Soon, your clients will be able to assign specific roles and permissions based on what a team member needs to perform their job. A business owner can control who can view, create, edit, or delete transactions and access accounting features like reconciliation, registers, and journal entries.
- Custom Reports and Charts: In addition to the breadth of reporting already available in Advanced, QuickBooks is introducing custom calculations and KPIs so businesses can make reports more relevant and drive informed business decisions.
- Fixed Asset Module: A new fixed asset hub, batch fixed asset onboarding, and onboarding from expense and bill transaction forms, will streamline the process of adding, tracking, depreciating, disposing, and reporting on fixed assets, making it easier to maintain accurate, complete, and compliant financial records.
- Approval Workflows: Soon, Advanced customers will have access to expanded approval workflows capabilities, helping business owners enforce compliance and organizational policies in an automated way.
QuickBooks Online Workforce Solutions
QuickBooks Online Payroll meets the team management needs of growing businesses with expanded capabilities that simplify the complicated world of Human Capital Management (HCM), providing access to payroll, time tracking, HR, and other employee benefits needed to manage their teams in one place. New, expanded capabilities unveiled for QuickBooks Online Payroll customers include End-to-End HR Management, Payroll Cost Allocation, Payroll Item Management, and a new partnership with Allstate. Get more information and details on all the latest updates across QuickBooks Payroll.
QuickBooks Online E-commerce Innovations
QuickBooks is rolling out several new e-commerce innovations for QuickBooks Online, purpose-built to help small businesses seamlessly manage inventory across multiple sales channels from one central location. With product-based businesses using inefficient methods, including spreadsheets and pen and paper, to track inventory, the enhanced e-commerce capabilities will help businesses manage orders and inventory with more confidence and less work. Updated features allow customers to sync across sales channels, spot opportunities for growth, maintain accurate inventory, seamlessly replenish low stock, and more.
Visit the Firm of the Future blog for continuous product updates and articles on how the Intuit ecosystem streamlines your practice and helps you serve your clients.
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