Your Feedback in Action: Edition 3

It was great to see so many of you at QuickBooks Connect! We are so energized by your passion for our shared small business and mid-market customers. Your excitement for our upcoming innovations reverberates across our teams as they double down on the work and sharpen it with your engagement. We will channel that to continually enhance our QuickBooks offerings based on what you–our accountant community–tell us you want and need.

For our third installment of “Your Feedback in Action,” we’re changing things up a bit and sharing some of the highlights from QuickBooks Connect. Cassie Divine, who leads the QuickBooks® Platform team, and Rania Succar, who leads the Intuit Mailchimp® and QuickBooks Money teams, talked about five key areas we’re focusing on (watch all the main keynotes on YouTube):

1. Advancing accounting in QuickBooks

We’re always working to improve and super-charge accounting in QuickBooks. Here are some recent improvements we’ve made to transaction management:

• Reordered rules and matching logic so that matching happens first.
• Implemented more advanced accounting to support your mid-market clients, such as revenue recognition and project estimates versus actual.
• Expanded and improved the quality of automatic document import, and we’re beginning to add check images.
• Implemented auto-matching wherever we have complete confidence in a match.
• Coming soon:
• Apps and integration to help ensure that your data flows seamlessly without you having to test or trouble shoot.*
• Clear data mapping to understand exactly how data match when connections are made.*
• Holistic dashboard of connected data and apps in one place.*

2. Workforce solutions for businesses with a team

Our vision is to become the “source of truth” for businesses with workers by delivering an AI-driven people platform that gives employers time back, maximizes confidence, and helps employers and their employees realize financial empowerment.

• Expanded functionality for more of your clients, including agricultural businesses that file IRS Form 943.
• Continue to implement self-serve capabilities for accountants and small business owners, enabling them to make changes and corrections themselves, saving time and reducing calls to support.
• Coming soon:
• An employee document management system.*
• Foundational Human Resource Information System offering.*

3. Investing in reporting and insights in QuickBooks Online Advanced

Our goal is that every customer has the ability to produce any kind of report they need to run their business via real-time access to financial and operational data flowing across the QuickBooks ecosystem. To that end, here’s what we’re doing:

• Launched a custom report builder in QuickBooks Online Advanced with drill-downs, pivot tables, time-period expansion, and more.
• Added powerful automation to QuickBooks Online Advanced reporting.
• Introduced Spreadsheet Sync so you can save time reconciling across QuickBooks and spreadsheets.
• Continuing to invest in things like improved multi-company reporting, budgeting and forecasting, and bringing in third-party data to our custom report builder.*

4. Launching QuickBooks Business Network to simplify B2B transactions

Entering business-to-business transaction data manually can take hours, and the risk of errors is substantial. Additionally, long payment cycles and cash flow challenges remain a problem. With a billion bills and invoices managed in QuickBooks every year, we seek to solve these challenges. Therefore, here’s what is coming soon:

• For the US and Canada, the QuickBooks Business Network will enable millions of businesses and contractors to connect to each other to send invoices as bills and get payments without needing to exchange sensitive account information.*
• Rolling out expanded controls and permissions for Accounts Payable management. Assign specific permissions to each QuickBooks user including viewing, creating, editing, or deleting a bill, and you’ll be able to route bills for approvals before they get paid.*
• Adding integrated native bill payment from within QuickBooks.*

5. Automating commerce processes for product-based businesses

New QuickBooks Online commerce accounting capabilities allow you to automate recording inventory, payouts, and orders so that you and your clients can save time and manage the business in one place. Today, we support connections with Shopify, eBay, and Amazon. And coming soon are three massive improvements:

• Complete product details include important tracking of variants, product cost, and inventory across sales channels.
• Full control of inventory to monitor stock levels, proactively send notifications, easily replenish bulk reorders, automatically trigger purchase orders, and all synced back to sales channels.
• End-to-end order management to bring in more detailed sales order history including fulfillment, returns, and refunds. QuickBooks automates inventory accounting for the sales transactions and generates an invoice once the order is fulfilled.

Banking services and QuickBooks Time

There are two more pieces of news I want to share. We’ve heard how “Banking” in the left navigation can be confusing and misleading. To decrease the confusion, starting with Business View, we’re changing the name of “Banking” to “Banking Services,” and adding a shortcut where you can add and manage bank connections.

The second piece of news is very exciting. I know the accountant community is always looking to provide the best pricing for their clients. This month, we’re starting to test adding QuickBooks Time and Contractor Payment standalone into the “Add Client” experience so you can get the ProAdvisor Preferred Pricing discount easily for these two products. We expect to release this feature to all accountants in the next few months.* In addition, check out the QB Workforce mobile app.

Future plans

As noted previously, every investment and innovation we make across the QuickBooks platform is to power your success and help you and your clients grow. The objective of “Your Feedback in Action” is to share the most relevant product improvements, updates, and changes based on what you’ve told us you want and need.

I’m already looking forward to QuickBooks Connect 2023 and hope to see many of you again soon!

We’re grateful for your partnership and hope you’ll continue to share your thoughts with us. Please leave feedback or comments for us here as we continue to improve. Thank you.

Ted

View previous editions of “Your Feedback in Action:”

• Your Feedback in Action – Edition 1
• Your Feedback in Action – Edition 2

*This information is intended to outline general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.