As small business owners, getting our books in order, getting paid on time and creating cash flow is very important. But, realizing these goals may not only be complex and challenging, but also take us away from running our businesses.
With Intuit consistently delivering new features in QuickBooks Online (QBO) – and the knowledge and expertise of our team at SBS Accounting & Advisors – you’re able to focus your time wisely, while we bring you powerful solutions to your everyday needs. The latest four features do just that.
Here is more about those four features, which SBS can help implement and make sure you get the most out of.
Take Control of Your Transactions in the Banking Tab
Nestled inside the Business View in QBO, you can now find a redesigned banking tab. This feature helps you take control of managing transactions, pay more attention to your customers and clients, and make sure your business runs smoothly and efficiently.
While there are incremental changes throughout, the best part of this feature is how the most important actions are brought to your attention. For example, QuickBooks is designed to learn what transactions hold the highest importance for you, bringing them to the forefront. You’ll have a better categorization of your transactions, which will give you peace of mind that your books are being taken care of.
Here is how the banking tab feature will look in your QBO:
Capitalize on Your Accounts Payable With This Bill Feature
In the past, categorizing your bills and keeping up with your accounts payable was challenging. Now, thanks to a new feature inside QBO, you can label receipts as either a “Bill” or an “Expense,” when transmitting them from your phone, computer or email.
To access this enhancement, you’ll visit the Receipts tab by clicking banking, receipts and then browse. Next, select “Bill” or “Expense.” Here is how it will look:
Improving Your Invoicing With Artificial Intelligence
Chasing down payments is vital, but no one I know likes to do it. On one hand, we must get paid to survive and grow, but are also worried that we might drive our customers away if we are too aggressive or say the wrong thing at the wrong time.
Thanks to artificial intelligence, inside QBO Advanced – Intuit’s version of QuickBooks for mid-market businesses – users get their most important invoices prioritized and paid faster. This will help transform your workflow and your cash flow. If you’re not sure if you should be on QBO Advanced or stay with QBO, let’s discuss your options.
To tap into this feature and set up a workflow reminder, simply go to workflows, templates and payment due reminder. This will let you see which clients’ invoices matter most.
Catapult Your Cash Flow With This New Platform
By now, you’ve probably heard me stress the importance of cash flow management. Often, we find business owners tend to neglect, or not completely comprehend, cash flow. By making common cash flow mistakes, businesses suffer and their future may be in jeopardy.
Creating cash flow is an absolute must for small business survival and growth. It’s often a challenging task for small business owners, but don’t worry … SBS specializes in transforming your cash flow and taking your business to the next level.
Helping us in this endeavor is the new cash flow dashboard inside QBO Advanced. Now, you’ll get a report that provides cash flow insights and a vision into the data that is driving your business. Through SBS’ knowledge and expertise, we can take this data and come up with specific strategies to make sure you have the cash flow you need to grow your business.
Cash flow dashboard benefits include always being able to see your cash flow trends, seeing the data that’s dictating how your company is progressing, being able to compare your cash flow at different moments in time, and having control over your transactions through alerts and performance tracking.
Here’s how it will look:
Ready to get Started or Have Questions? SBS is Here to Help!
As you can see, these new or enhanced features inside QBO and QBO Advanced are designed to make both of our lives easier – and our businesses better. If you’re ready to get started, or have any questions, don’t hesitate to contact us today. In doing so, you’ll be on your way to a more powerful workflow, and growing your business now and into the future.
(Images courtesy of Intuit QuickBooks)