QBO-Advanced Update

by

General Ledger

Intuit is continually cranking out enhancements to QuickBooks Online Advanced to add to its appeal to the mid-market and more sophisticated users of QBO. In this edition of the QBO Monday Minute we look at a couple of the newer features that have been recently incorporated into QuickBooks Online Advanced.

Enhancements to Custom Fields

Custom fields are one are that QBO-Advanced has really accelerated the curve when it comes to functionality for users. Not only did they expand the number of fields available, but also the types of fields available (aka: 'enhanced custom fields'). Then they expanded how those fields could be used. Now, a new management interface offers more flexibility for managing, editing, and reviewing custom fields and making it even easier to use and track the information that’s most important to you and your business.

With the new interface, you can choose a combination of sales and expense forms to show custom fields. You can also choose a combination of sales and expense forms with Customer custom fields, as well as with Vendor custom fields.

To see this new custom fields interface, go to Settings ⚙, then select Custom fields.  For each custom field, you can see what category it applies to and which forms it appears on. You also see the Print icon if the custom field is visible to customers or vendors on a form.

To edit a custom field:

  1. In the Actions column, select Edit.
  2. Edit the field's name, select the forms it appears on, and choose whether it's visible to customers or vendors.
  3. When you're done with your changes, select Save. Any edits you make here apply to all forms that use the field.

To make a custom field active or inactive:

  1. Select the arrow next to Edit.
  2. Select Make active (or Make inactive).
  3. Select Yes in the pop-up message to confirm your choice.

If you make a custom field inactive, your past data won’t disappear. You’ll still see the field on sales forms and purchase orders you used it on previously, but it won’t appear on any new forms.

Reclassify Transactions now a Batch Action feature

Accountant users of QuickBooks Online have had a 'reclassify' transaction feature available to them since early after QBO-Accountant was released. The feature was similar to that which they had used in QuickBooks (Desktop) Accountant.

Now, the 'reclassify' feature has come to QuickBooks Online Advanced as part of the 'Batch Modify' functionality. This time-saving tool will allow users to make bulk re-classifications of transactions rather than having to rely upon their accountant to perform these changes via QBO-Accountant. 

To Reclassify transactions

  1. Select New+ and then Batch transactions.
  2. In the Select transaction type ▼ drop-down, select Reclassify Transactions.
  3. From the Account types drop-down menu, select Profit and Loss to see income and expense accounts. Or select Balance Sheet to see your asset, liability, and equity accounts.
  4. From the Account list, select the account with the transactions you want to change.
  5. Use these type, class, customer/vendor, and modify filters to filter the list. Tip: You can also select Accrual to see all paid and unpaid transactions or Cash to see only paid transactions.
  6. Select Find Transactions.
  7. Select the checkbox for each transaction you want to change. Important: Before you move transactions to Accounts Receivable or Accounts payable, make sure there's a customer or vendor. Don’t leave these fields blank.
  8. Select Reclassify.
  9. Select a new account to move the transactions to from the Change account to drop-down (option), or a new class from Change class to drop-down (option).
  10. When you’re ready, select Apply.

Everyone here at Insightful Accountant would like to remind you to have a safe and very happy as well as a very thankful 'Thanksgiving' holiday.