For years bookkeeping and accounting firms have performed the same tasks over and over for their business clients. Especially at month-end, while tasks are repetitious they can sometimes get performed out of sequence or even missed.
Reviewing unresolved transactions, reconciling bank and credit card accounts, and creating reports are the tasks that simply need to be accomplished at every month-end. Now we have a new tool-set from directly inside our QuickBooks Online-Accountant dashboard that makes these month-end activities visible for every client, helping us track them to assure they are completed and to avoid the possibility of outstanding tasks.
Bookkeeping Month-end Review can be accessed within QBO-Accountant by clicking from the left-hand Client menu on the Bookkeeping header to make the month-end review column visible. Within the Month-end Review column, three clocks become visible. Each clock represents a specific month-end activity.
The 'New' Bookkeeping 'Month End Review' in QuickBooks Online Accountant
Liz_QBOA_Bookkeeping-review_01
Month-end Review clocks change their status as tasks are performed and completed. By clicking on Month-end Review, more details are opened, displaying the tasks necessary to change the month's status (as shown below).
The various Month-end Review activities (Transaction review, Account reconciliation, Final review) in the QBO Accountant Bookkeeping-review feature
Liz_QBOA_Bookkeeping-review_02
The three clocks correspond directly to the Month-end Review dashboard located inside each of your connected client's QBO subscriptions. When month-end tasks are completed, the status changes in both the QBO-Accountant dashboard and inside the client QBO file.
QBOA Dashboard displaying the status of the Bookkeeping Month-end Review, note the status change from the little clocks (indicating time to do) to the green check-marks (indicating completed).
Liz_QBOA_Bookkeeping-review_03
Month-end Review is part of a tool-set specificially designed for QuickBooks Online Accountant. Clients do not have the Month-end Review features, nor will they see the to-do task list. By using the new Month-end functionally, accountants and bookkeepers can track and complete these tasks much easier.