Global financial technology platform Intuit has unveiled a range of new innovations that aim to empower accountants and small businesses through its QuickBooks online ecosystem.
This product is designed for accountants, enabling them to serve all their clients on one standardized platform, according to the release. QuickBooks Ledger streamlines manual workflows through automation, allowing accountants to focus on higher-value services. It includes features such as automated bank feeds, bank reconciliation, financial statements, 1099 tracking and a seamless transition to tax preparation.
QuickBooks Online Accountant (QBOA) also received improvements, saving accountants time and streamlining their workflows, the release said. Notable enhancements include expanded roles and permissions, accounts charts templates and an improved experience for new clients.
The QuickBooks ProAdvisor Program, which is over 25 years old, underwent a refresh, per the release. The program now offers more than 20 changes, including pre-written email campaigns, new discounts and benefits for full-service accounting firms, training on third-party app integrations and premium customer support. The program also introduces newly designed certification, tier, community and skills badges to differentiate ProAdvisors’ levels of expertise.
QuickBooks Online ecosystem improvements were also announced, catering to the needs of complex, growing businesses, according to the press release. QuickBooks Online Advanced provides a higher level of performance, scalability and customization. New enhancements include expanded role-based access controls, custom reports and charts, a fixed asset module and approval workflows.
Intuit also unveiled new capabilities for QuickBooks Payroll, including human resources (HR) tools, payroll cost allocation, payroll item management, and a partnership with Allstate Health Solutions to provide enhanced insurance options for employees, the release said.
In addition to these updates, QuickBooks Online introduced eCommerce innovations to help small businesses seamlessly manage inventory across multiple sales channels, per the release. These enhancements enable businesses to track inventory, manage orders, identify growth opportunities and maintain accurate stock levels more efficiently.
PYMNTS Intelligence has found that automation can help streamline accounts payable (AP) and accounts receivable (AR) workflows that are currently complex, labor intensive and error prone. Seventy percent of firms with less automated processes said they “definitely need” more automation, according to “Solving Accounts Payables’ Top Frictions with Automation,” a PYMNTS and Corcentric collaboration.