Categories: B2B Payments

New QuickBooks Features Boost SMB Access To Cash Flow, Payroll Updates

QuickBooks has rolled out new products to aid with small- to medium-sized businesses' (SMBs’) recovery from the pandemic, which will include new payroll options and automated cash flow tools, according to a press release.

Cash flow, the U.K.-based financial management software said, had already been an issue for SMBs even before the pandemic, but now it is extra important, the release stated.

The new Cash Flow Planner from QuickBooks will work with artificial intelligence (AI) and open banking to pull data from numerous sources to give companies a real-time insight into their funds and help them make more informed decisions. SMBs, the release stated, can see their cash flow predictions up to three months away, and see how some decisions like adding or removing employees or removing rental costs would change outlooks.

There's also an employee portal that can help let employees have control over accepting and declining shifts digitally, viewing their bank information and submitting expense reports, the release stated. By using that feature, SMBs will be able to keep track of payroll, sick days and other employee-related necessities in a digital manner.

To combat late payments, which have become an even bigger problem than usual during the pandemic when many businesses are cash-strapped, QuickBooks has introduced a new collaboration with PayPal to allow easy and quick payments. According to the release, this partnership will also come with special rates for QuickBooks users.

QuickBooks has collaborated with PayPal before, including new integrations to make paying via the service easier, as PYMNTS reported in March.

Another collaboration allows TransferWise customers to seamlessly shift their transactions to a QuickBooks account, which will aid in reconciling accounts quicker, according to the release.

In addition, accountants will be able to access new advisory services with a new Month End Review tool, which will help them close clients' books and do away with manual payments, the release stated.

In other QuickBooks news, the company strengthened reporting functions for QuickBooks Online and QuickBooks Online Accountant last month and added an Enterprise Diamond level with flexible pricing policies.

Get our hottest stories delivered to your inbox.

Sign up for the Newsletter to get updates on top stories and viral hits.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

Recent Posts

The Outside-The-Box Ways The World Is Beating Boredom

The late William F. Buckley Jr. famously once said that “boredom is the deadliest poison.”…

1 day ago

Hims Inc. May Go Public Through Blank-Check Company

Remote healthcare firm Hims Inc. is getting close to an arrangement to go public via…

2 days ago

Decision On TikTok Ban Coming Sunday

The high-stakes court decision on whether to allow a ban of video-sharing app TikTok set to…

2 days ago

NYC Could Close Nonessential Businesses In Some Areas If Pandemic Outbreak Grows

New York City might shutter nonessential businesses in multiple districts and prohibit groups of over…

2 days ago

PayPal Provides $5M In Grants To Support Minority Businesses

PayPal Holdings Inc. provided $5 million in grants to support Black-owned businesses in the U.S.…

2 days ago

Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

Digital dollars could make the leap from concept to reality, but there might be a…

2 days ago