First Look at the New QuickBooks Client Overview Feature

by

General Ledger

When taking on a new client it can be difficult for an accountant, bookkeeper or business advisor to quickly assess all of the issues involved with the clients current accounting. Of course, we all know that we must 'diagnose' before we can 'treat' any problem(s). The new QuickBooks Client Overview feature is designed to streamline the process of making that diagnosis so you can quickly determine how much work, and what the cost will be, of resolving any shortcomings.

When you access a potential client's QuickBooks Online Company via your QuickBooks Online Accountant, a new Overview tab will be visible. The client doesn't see this tab, only you as a QBOA user.

The new tab is your starting point to gain a high level of understanding of the client's business and books. It makes it easy to evaluate the client's company setup and business activities. It also streamlines your access to the data you need once you identify any problem(s).

Using Company Set-up you will quickly identify how their QuickBooks Online is configured including their subscription type, payroll service (if any), sales tax management, and any Apps that are associated with their Company file.

Banking Activity provides you with comparative 'bank' and 'QuickBooks' balances along with information regarding the number of unaccepted and unreconciled transactions. It also provides the date of last reconciliation for each account. With just a click or two you can go directly into a specific bank account, or be taken to the last reconciliation.

But perhaps the greatest benefits of this new tool can be found in Common Issues (shown below). In the same way that a 'supercharger' enhances the performance of your vehicle, this new tool enhances your review of the client's data.

Intuit has given you a quick display of the most common mistakes that QuickBooks users make, thus flagging them for easy review without having to go hunt them down. This includes things like Opening Balance Equity, and Undeposited funds. It also includes negative asset accounts and transactional balances posted against uncategorized accounts.

Overall, the new Client Overview will allow you to more quickly diagnose a prospective client's QBO file and estimate how much work it will take to get it back on track, and to keep it there in the future. Client Overview is now available from within QBOA while accessing a Client file.  Be sure to check it out.