"QBTalks" is back on track for Oct. 18, 2023. No more delays, no more “egg on Murph’s face," in fact, no more of Murph’s face at all this month.
Instead, you get to look at, and hear from, the ever popular Liz Scott, who will be sharing the exciting news about QuickBooks Online updates for you and your clients.
The webinar is designed to inform you of the newest and best updates, and upgrades to the QuickBooks® Online product line-up.
Liz will cover a number of new or enhanced features including:
The new QuickBooks Bill Pay*
"There is a new Bill Pay in town "pardners"... and its name is QuickBooks Bill Pay."
- With QuickBooks Bill Pay, Intuit sends out payments to your vendor using the payment method you select. You can choose Bank Transfer (ACH) or a Paper Check depending on the payment method your payee prefers.
- You always have access to your bill payments, including their status on the Bill Pay payments page. And if you choose to pay by paper check, the check number becomes available after it is mailed to the vendor. Once the check is mailed, you will be able to view the check number on the Bill Pay Payments page.
- When you schedule a bill payment, you and the payee will receive an email confirmation. You both will get another email confirmation once the bill payment is complete.
- You can schedule payment for a bill in full or schedule a partial payment with QuickBooks Bill Pay. Scheduling a partial payment gives you more flexibility to pay your vendors. This option allows you to divide a single bill into several payments to accommodate flexible payment options such as installments and milestone payments. You also have the option of selecting a different payment method for each scheduled payment.
- When you schedule a partial payment, QuickBooks tracks and displays the remaining balance on the Bill Page.
Intuit Assist for QuickBooks®
Intuit Assist, recently announced by Intuit CEO Sasan Goodarzi, is another new feature of QuickBooks Online that Liz plans to present.
- Intuit Assist for QuickBooks will tip the odds of success in favor of small businesses, guiding how to adapt, react and make informed business decisions. At the same time, it will help save time for accounting professionals, while providing valuable insights and a comprehensive view of where a client's business stands.
- The AI-powered functionality can unearth relevant insights based on business performance and client behavior, from surfacing cash flow hot spots to identifying top-selling products and spending anomalies.
- Intuit Assist can deliver deep insights based on simple requests or questions such as "Show me the profit and loss for last month" or "How many of our invoices are overdue?" It will dynamically predict follow-up questions and answers in clear, natural language.
- Should a revenue gap be projected, Intuit Assist will deliver precise, personalized recommendations to help clients close the gap and meet revenue goals.
- Intuit Assist also can automate tasks, like preparing invoice reminders, saving valuable time and allowing businesses to focus on their bigger picture. These invoice reminders can be customized upon request, to be more friendly or shorter in tone.
The new QBO User-interface for Invoicing
Liz’s schedule for the October QBO Update also includes the enhancements being made to Invoicing.
- Intuit has scheduled the rollout of the latest changes in Invoicing for QuickBooks Simple Start starting October 16. Once upgraded, those users will not be able to switch back to the old Invoice interface.
- The rollout to other versions of QBO has been delayed because certain things, like sales tax support, shipping fields, duplicate transaction numbers and invoice line item copy still are in the works, among others.
- The new Invoice forms, which can be seen in beta, allow users to adjust Invoice forms right on the form. There is no need to manage templates; all the options are on the form. QuickBooks will remember your choices and automatically apply them to the next Invoice form.
- The new forms also will provide options to help you get paid faster when using QuickBooks Payments. You can add payment options like PayPal, Venmo, credit card and ACH bank transfer. Customers can pay your Invoice right from the Invoice you send them.
- Ultimately, QBO Advanced users will be able to automate tasks like sending Invoices or payment reminders right from the form itself.
- Following the October (2023) transition for QBO Simple Start, the update of Invoices will be rolled out to other QBO SKUs over the next several months, with the new target date for completion of this project being May 2024 for the US. Other geographical versions of QBO may not make the transition until after the May date.
QuickBooks Money*
And just what would QBTalks be without talking about money, in this case "QuickBooks Money."
- This is Intuit’s new subscription-free banking and payments product for small businesses. It is designed to bring many of the fintech needs businesses have into an all-in-one solution that doesn't require a business to use QuickBooks for their accounting.
- QuickBooks Money currently combines two industry-leading financial services; QuickBooks Checking delivers a business banking hub through a purpose-built bank account provided by our partner Green Dot Bank. Processing more than $125 billion in volume annually, QuickBooks Payments allows small businesses to manage all of their payments in one place using credit or debit, ACH bank transfers, Apple Pay®, Google Pay, PayPal or Venmo.
- Benefits of QuickBooks Money include: no monthly fee or minimum balance, simple tracking of business income and expenses, same day payments into your account, free QuickBooks Visa® business debit card and 1.75% APY savings on envelope balances.
- Future planned enhancements for QuickBooks Money include subscription-free access to other solutions such as bill pay, in-person payments and lending.
- QuickBooks Money makes it available as an entirely new point of entry into the QuickBooks Ecosystem. From there, small businesses eventually can access the full range of QuickBooks solutions as they grow and require additional capabilities.
- A QuickBooks Money account can be opened by a small business in just a few minutes, and then accessed via the web or mobile app for iPhone or Android.
QBO Interface with QuickBooks Time
Liz also promises to show you how to manage time tracking and payroll using the new QuickBooks Time user interface for QBO.
- Intuit has been incorporating additional QuickBooks Time tasks into QuickBooks Online so you can get more or your work done in one application.
- Until now, you had to log into the QuickBooks Time application outside of QuickBooks to manage your time tracking data. In some cases, you even had to cut and paste QuickBooks Time data into QuickBooks payroll, invoices and job costing reports.
- Now, most time tasks can be performed within QuickBooks Online.
- You can manage QuickBooks Time timesheets, approve team member hours, add or invite team members, configure time kiosks and gain valuable insights without having to switch applications.
The QBO Update version of QBTalks for October will be held, Wednesday, Oct. 18, 2023, at 2 p.m. (EST).
REGISTER HERE
Participants can earn 1 CPE when they participate for a minimum of 50 minutes and answer a minimum of three topic-related poll questions.
Participants can also earn 50 accredited training points toward the 2024 Insightful Accountant ProAdvisor Awards in the categories of QBO, QBO-Adv(anced), QBO-App(ology) QB-CAAS and QB-Niche.
PS — for those of you worried about Murph being absent, he will be busy at SuiteWorld on Oct. 18.
Insightful Accountant Disclosures:
Portions of this feature have been adapted from Intuit QuickBooks related content, including in-product 'press announcements'. All such source materials were adapted by Insightful Accountant solely for educational purposes.
As used herein, QuickBooks®, QuickBooks Online (QBO), QuickBooks Money, QuickBooks Time, and other referenced QuickBooks features or versions refer to one or more registered trademarks of Intuit Inc., a NASDAQ "INTU" publicly traded corporation headquartered in Mountain View, California (USA). Intuit is the global financial technology platform that serves 100 million customers worldwide using TurboTax , Credit Karma , QuickBooks and Mailchimp.
Other trade names used herein, including any other vendor (app/software) products discussed, may be registered, trademarked, or otherwise held by their respective owners and now are acknowledged accordingly. They have been referenced for informational and educational purposes only.
This is an editorial feature, not sponsored content. No vendors within this article have paid Insightful Accountant or the author any remuneration to be included within this feature. This article is provided solely for informational and educational purposes.
The publication of this article does not represent any form of endorsement by either the author or Insightful Accountant.
QBTalks is a copyrighted trademark of Insightful Accountant® LLC.
Note: Registered Trademark ® and Copyright © symbols have been eliminated from the articles within this publication for brevity due to the frequency or abundance with which they might otherwise appear or be repeated. We attempt to credit such trademarked products or copyrighted materials within our respective article footnotes and disclosures.
Intuit-related Product Disclosure:
*- provisions apply, see Intuit’s feature requirements (or customer agreements) for more information.
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