To run a venture and any business or firm it is crucial to have accounting software, to make your work smooth and easy. Accounting software not only lessens work burden rather it makes us understand where the business is falling and growing. Software like Zarmoney, QuickBooks, Netsuite, Melio, Wave, Freshbooks, Zoho books, etc. is popular in America for bookkeeping services. At the same time, Quickbooks Online has a wide range of users compared to other book-keeping software, which is not only limited to the US but also to other countries.
QuickBooks is making a mark in the business world by improving its features depending on the needs of time and customers. In this blog, you will find information on QBO Intuit 2024 new features and improvements. However, first, learn about what QuickBooks is.
What is QuickBooks Online?
QBO is a server-based software that gets updated month by month to enhance the quality of work. It is an American-based software tool developed by a well-known tech company Intuit, that launched several products in the market, such as QuickBooks Desktop Mac Plus, Quickbooks Point of Sale, QuickBooks Enterprises, and many more.
Intuit QuickBooks allows users to access features, like Quickbooks cash flow forecasting, profit & loss statements, managing POS, filing taxes, and many more. All features are significant to run a business. Meanwhile, the software safely keeps all transactions and business records. This is a very convenient, handy, and easy-to-use tool for accounting professionals, business enterprises, and students.
The software is available in four editions which helps to access several features that are key to running a company or a small startup business. These four editions are paid, however, Intuit also provides QuickBooks cloud-based software free trials to customers.
QuickBooks was embarked on 1992 and since then it has been updated over the years. Every year the company adds new features to the software to upgrade the performance of QB online. So every user of Quickbooks has in mind what’s new in Quickbooks Online.
QuickBooks Intuit Online Editions
Following are the four editions of QuickBooks that provide several features to the user. Accounting professionals and business owners can purchase these editions per the needs of their line of work.
- Simple Start version
- Essentials version
- Plus version
- Advanced version
QuickBooks Features
QuickBooks offers multiple key features to users, some of which are mentioned below:
- Track Income & Expenses
- Generate Invoices
- Accept Payments
- Maximize Tax Deduction
- Maintain and Run Reports
- Send Estimates
- Track Sales & Sales Tax
- Manage Bills
- Track Quickbooks Inventory Management
- Connect Banks
- Multi-Currency support
- Data Security
QuickBooks Online 2024 New Features and Improvements
Everyone has this question in mind what’s new In QuickBooks Online 2024? Here we mentioned key points that are added on in Qbo:
1. Product and Services
The new feature added to the inventory function is product and services. This helps business owners to get clear visibility of all products and variants, including stock cost details.
2. Batch Reclassify Transactions
This new feature of QuickBooks allows you to edit an entire batch of one type of bank transaction. This added feature makes batch changes available to business owners in addition to accountants, it also allows you to make changes to bank transactions.
- Go to the Bank Transactions
- Select the option Categorized that starts batch-editing in batch transactions.
3. Add Multiple Approvers to Workflows
With this added feature you can include multiple sequential approvers for invoices that reach out the particular conditions you specify. No matter how small or big your business is, you’ll be able to set up the bill approval workflow that ensures bills reach all necessary stakeholders before getting paid.
4. Remind Customers to Unpaid Balances
Before this feature one needed to send separate emails to clients just to remind them due payments of each invoice. And, now using this feature you will be able to send email reminders to a customer for all due payments at once, it creates convenience for the customers to pay all in one go.
Steps For sending a group reminder to customers:
- Click on the Sales option and then select the Customers.
- Go to the Action column and press the Send Reminder tab for your client.
- Follow the on-screen steps to send reminders to your customer.
5. Send Bills with Text Messages by using QuickBooks Payments
Business professionals and accountants can send invoices to their customers. Through text messages by using QuickBooks payments. This feature helps both the client and the customer to know the invoice details.
- Open your invoice and click the option Review and Send.
- To preview the message and add a contact number click the Add text message tab.
- Hit the Send Invoice button.
6. Create Items and Sales Receipt Transactions from a Bank Feed
By using your client’s bank feed in QB Online, you can add transactions to the books at a more detailed level. You can also add multiple transactions as sales receipts. This feature saves time to create transactions manually.
7. QuickBooks Online Payroll
Instead of making updates to employees’ information from their profiles, QuickBooks online new features and improvements now allow you to assign payroll items to multiple employees.
8. More Time-tracking Features in Quickbooks Time Entries
You can access more features of Quickbooks Time Classic without entering QBO Intuit.
9. Increase the Controlling Power of Apps
Business owners and accounting professionals have now more access to apps that are connected to QuickBooks Online. Earlier, admins could only see admin info for apps connected by other admins. Now, you can focus on the apps you rely on by choosing disconnect to remove unused or unwanted apps from the list.
Conclusion
To get familiar with this accounting application and get the best out of it, you need to know how Intuit Online works and what new features of Quickbooks are added to it. So it is important to gather information about the features. In this blog post, we have been providing you with the details of QuickBooks Online 2024 new features. We hope this knowledge has been worth reading for you to understand the features and the application.
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