Have You Discovered QuickBooks Online's New Features?
Intuit introduced some new changes for QuickBooks Online this year.
Whether you can see them now or not, Intuit added and enhanced a ton of new features in 2019. Some of you may not see all of the new features until 2020, since the company typically rolls out changes slowly. Some of your versions of QBO may have already incorporated the changes, but you maybe just haven't noticed them.
We want you to know what's coming. Here's a rundown of what's in store for everyone on the horizon:
A new location for the Create button
Whether creating an invoice, sales receipt, bill, time entry, you previously clicked on the +(plus) sign in the upper right corner to open the Create window. Now, you'll see a button marked +New in the upper left corner.
If you use QuickBooks Online Payments, you'll be able to have available credit card and bank transfer payments from customers deposited in your bank account within 30 minutes for a 1 percent fee. The funds will be directed to your U.S.-issued Visa or MasterCard debit card.
This is a tool previously found only in QuickBooks Self-Employed, but QuickBooks Online users will now have access to it. It does just what it sounds like: allows you to track business-related mileage so you'll have a numerical total to enter when you come to that deduction on your income tax return. You can record trips manually by entering starting and ending addresses (or the total miles). Or, if you're using the QuickBooks Mobile app, you'll be able to turn on GPS and let your smartphone record the mileage automatically.
QuickBooks Online's Mileage Tracker allows you to record business miles driven manually or automatically and calculates your tax deduction.
New navigation tools in QuickBooks Mobile app
You've probably gotten used to navigating from a list of features in the QuickBooks Mobile app. You should soon see an entirely different look for navigation that uses icons representing common tasks (Transactions, Expenses, Mileage, etc.). These will appear when you click on the Shortcuts tab. You'll find the remaining tools under the All tab.
Health benefit management
QuickBooks Online now allows you to compare, buy, and manage employee health, dental, and vision coverage.
Receipts can be the bane of a business owner's existence. Many still use the "shoebox" method, tossing receipts in a box and entering them when tax time rolls around. Not a particularly elegant solution. Now, you can snap photos of receipts and move them into QuickBooks Online in one of three ways, by:
Scanning through the mobile app.Uploading, then dragging and dropping.Forwarding through email.
Receipts are automatically categorized and matched to transactions; if there's no match, you can create a new transaction. Your receipts appear in the Receipts dashboard under the Banking tab.
Do you have international customers? If so, you may be able to send them invoices in their native languages. Besides English, QuickBooks Online now supports French, Spanish, Italian, Portuguese (Brazil), and Chinese (traditional).
One-step contractor payments
You can now select trackable details like class, project, and location by making selections from drop-down lists in the contractor payments window.
If you're a QuickBooks Online Payments subscriber, you'll be able to get next-day access to payments customers have made to you via credit card or ACH. You'll have to sign up for this service, and fees apply to ACH payments (1 percent of the total deposit, up to $10).
Auto-calculated sales tax
QuickBooks Online has streamlined the process of adding sales tax to sales forms - even if you're a cash-basis business. After you've done some initial setup work, QuickBooks Sales Tax will do the necessary calculations and add sales tax automatically.
We hope that 2019 has been a good year for your business, and we wish you the best in 2020. If you're still struggling to use QuickBooks Online to maximize productivity and make better business decisions, remember that we're here to help. We can also advise you on any of the new features Intuit has introduced. Contact us anytime to set up a consultation.