Intuit is constantly making improvements to QuickBooks Online (QBO), and because QBO is in the cloud, you’ll never have to upgrade or load in a new version. Here are some of the latest feature improvements:
Budgeting Done More Accurately
As you may know, I’m a big proponent of budgeting. It’s so important to always know where your business stands, and budgeting and projecting allows Sound Business Services to take your historical financial data to help you plan for the future and grow your business.
QBO is a key contributor in this area, but recently got a boost with its new budget interface. Now, budget entries are completely accurate, providing real-time actionable data to see where your business is at all times.
With the new budget interface, you can:
- build your budget faster and more accurately;
- get much easier accessibility, such as finding budget reports in no time;
- plan for growth through data and insight; and
- track business performance by assessing budget amounts versus actual income and expenses.
The Payment Process Solution: An Invoice Tracker
As you know, there aren’t many things more important when running a business than getting paid. Not only does it keep your business going, but it also validates the hard work and time you put into your work.
Inside QBO, there wasn’t an efficient way to keep track of invoice payments, which was a big pain point for many of our customers. In addition to this being a manual process, I know you did not want to bother your customers about payments; perhaps, you thought they would get upset and take their business elsewhere.
There’s now a solution in QBO that provides a simple way to see where your payment stands, from inception to completion, through the new invoice tracker.
Here are some of the specific sub-navigation benefits in QBO for invoices:
- An updated Money bar 2.0.
- Combined Invoice + Payments status.
- An Invoice + Payment Tracker.
- Fees, deposit batch, errors and other Payment details.
- User alerts for exceptions and next steps.
- Relevant call to actions to help you get paid faster.
Get the Most Out of the QuickBooks Self-Employed Expense Finder
The new QuickBooks Self-Employed (QBSE) makes life much easier for independent contractors and freelancers by providing tax relief through expense automation, simple invoice tracking, automatic mileage tracking and more.
In an effort to continue to maximize Schedule C deductions and give you more tax benefits, the new QBSE Expense Finder helps you organize expenses in minutes, instead of complicating the process with stacks of paper receipts.
To see exactly how it works, read this article.
Improving Payroll With Retro Tax Exemptions Workflow
As business owners, we know how important payroll is. Now, with Retro Tax Exemptions Workflow, if someone on your staff changes from non-exempt to exempt State Unemployment Insurance, or vice-versa, you are able to make this status change without contacting QBO customer care. QBO will then use this correct status change and immediately recalculate taxes for the calendar year.
We are Here to Help
This is a lot of information to process, but don’t worry; we are here to help! We know QBO, and we will get you the solutions you need to dramatically improve your business. Contact us today to learn more, and you’ll see your business take off to new heights.
Note: Portions of this article were taken from articles on Intuit’s QBO Blog.