From QuickBooks Connect: More QuickBooks Product Details

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General Ledger

We wanted to give you an 'update' on a couple of the product announcements that Ariege Misherghi, the Accountant Leader for Intuit QuickBooks, made during the opening sessions of QuickBooks Connect this past Monday.

Statement Auto-Import (Now in Beta)

Accounting professionals spend far too much time trying to track down the information they need to do their work. A big part of what they must track down are 'bank statements,' that's why, with the 'Statement Auto-Import' expanded Bank Feeds feature, QuickBooks will automatically import bank statements from a financial institution when a QuickBooks Company file is connected via bank feeds for transactional download.

Beta testing of this feature is progressing, it should be added to the product feature roll-out cycle within the near future.

Project Profitability (Coming Soon to QuickBooks Online)

QuickBooks introduced 'projects' last year; in fact, Insightful Accountant was the very first to write about the new feature and forecast how the feature would look upon full development.

Well, I am happy to say that one of our forecasts, 'profitability on a project basis' is on its way to your QBO. QuickBooks will soon begin rolling-out 'project profitability' (what us 'old' QuickBooks Desktop users have called 'job costing') designed to report all your revenues, costs and expenses on a project-by-project basis. This functionality will even include the financial impact of time-tracking and payroll. 

By combining the power of QuickBooks along with TSheets by QuickBooks and QuickBooks Payroll, users will be able to get a clear picture of the profitability of each of their projects on both a summary and detailed basis, including how labor costs impact their bottom line.

Insightful Accountant will continue providing you with additional feature details as soon as they become available.

Intuit disclosure: Information depicted in the graphic illustrations is intended to reflect their general product direction but represents no obligation and should not be relied on in making a purchasing decision.