In 2024, QuickBooks has introduced a series of innovations designed to support the accounting community and enhance business automation through its platform. As firms increasingly standardise their operations using QuickBooks Online, the company aims to provide powerful tools to help accountants manage diverse client needs effectively while improving overall efficiency.
One of the keystone offerings is the newly launched Intuit Enterprise Suite, which brings a comprehensive online solution for firms managing multi-entity reporting and accounting. This suite caters to clients who may have outgrown the capabilities of QuickBooks Online Advanced. With features such as AI-powered automated workflows, the suite allows firms to enhance productivity and profitability for clients with complex needs, as well as providing vital reporting capabilities across different business entities.
“Here are six ways to know whether Intuit Enterprise Suite might deliver the results they’re looking for,” the company noted regarding the suitability of the suite for potential clients. A dedicated customer success manager is available to assist during the transition, ensuring a smooth setup.
The enhancements introduced in 2024 aim to simplify work processes and allow firms to allocate time more efficiently to advisory services, thereby creating opportunities for growth. Key updates include improvements to bank feeds in QuickBooks Online, which now allow customised transaction lists for clients and batch transaction editing capabilities. Additionally, the Intuit Assist feature automates various accounts receivable and payable processes, including invoice generation and overdue payment reminders, using contextual data from previous transactions.
In terms of enhancing control over sensitive data, QuickBooks Online Accountant includes role-based access features to securely manage client books. This allows firms to assign distinct permissions based on each member's responsibilities, boosting compliance and accuracy within financial operations. Further improvements to task management capabilities help firms delegate work more confidently, enhancing overall workflow across applications.
From an analytical perspective, enhanced payroll cost allocations and forecasting tools in QuickBooks Online Advanced provide firms deeper insights into financial data. For instance, users can create profit and loss forecasts extending up to three years, utilising current data to ensure accuracy. Modernised reporting features allow for more intuitive access to critical business performance metrics without resorting to external solutions.
As part of its commitment to ongoing training and professional development, QuickBooks has also updated the ProAdvisor Academy. This initiative provides updated certifications and training to help accountants at various stages of their careers. The 30-hour self-paced Intuit Bookkeeping Certification course offers those new to the field an opportunity to jumpstart their careers or enrich their existing knowledge base.
QuickBooks continues to leverage feedback from the Accountants’ DelightJams initiative, resulting in over 100 enhancements based directly on accountant suggestions. These include the introduction of AI-powered client insights and expanded customisation for role-based access, aimed at fostering a more collaborative and user-friendly accounting environment.
Looking ahead to 2025, QuickBooks plans to introduce even more innovations. Future developments include a fully customised console for client-management dashboards and enhanced role-based access features within QuickBooks Online Accountant. The goal remains clear: to empower accounting professionals by continuously refining the tools they rely on.
In conclusion, QuickBooks’ 2024 developments reflect a strong commitment to enhancing business practices through significant technological advancements tailored for the accounting industry. The ongoing partnership between QuickBooks and the accounting community ensures that new features are responsive to the evolving needs of firms, enhancing their capabilities in a rapidly changing business landscape.
Source: Noah Wire Services