It’s no secret we love QuickBooks Online. With this chat, we explored some of our favorite features, and learned a few new ones for QuickBooks Online for Accountants – QBOA.
If you’ve recently signed up for QBO, or if you’re thinking about using the platform, test it out for free. You’ll be required to enter a security validation, but then you’ll have the ability to check out the features. Keep in mind your work won’t be saved, but it is a useful way to learn about the features of QBOA.
Q1: What are some features that are exclusively available to accountants in QuickBooks Online?
QBOA is available to anyone who signs up for QBO ProAdvisor or who uses QBO to manage at least one client with a QBO account. With a higher level of access, and more thorough platform, here are some of the features mentioned during the chat:
- Undo reconciliations
- Batch reclassify
- Write off invoices
- Report tools
- Reclassify transactions
- Short cut to My Custom Reports
- Trial Balance
- Quickly switching between client accounts
- Dashboard all clients in one account
- Ability to offer discounted rates to clients
Q2: Why is it important for accountants to have these tools and not the everyday user?
Often times, accountants are managing multiple, sometimes complex, accounts and require more features to ease their job (more on those later) whereas an everyday user is probably managing a single account. Or, as @BkBuds tweeted “Just makes it dangerous for them to play bookkeeper. I don’t play hair dresser just because I have scissors laying around.”
@vrcqbpro: They could really get into trouble with say Reclassify if they didn’t know what they were doing
@QBOPro: Especially with the undo rec, they could do a lot of damage if they were able to do that themselves!
@Qbexpertchicago: Because businesses with good accounting teams are likely to make way more money than their competitors
@BizBooksCloud: They are very useful if the user knows how to use them right, but too risky in the wrong hands to made major messes
@CathyIconis: Accountants have a specialized understanding of the underlying relationships of transactions, so we can handle more power.
@expensify: The everyday user doesn’t need to understand these tools. Why make their lives more complicated? #PhoneAPro
Q3: What features do you use most in the main QBOA screen? Client list? Team info? ProAdvisor info?
With dozens of features available in QBOA, the below are the most popular with our #QBOchat-ters:
- Client List
- Team List
- Your Books
- Resolve Duplicate Clients
- Sorting by wholesale customers versus regular
Q4: What are your favorite tools in the Accountant Toolbox? Why are they so cool?
The QBO Accountant Toolbox is full of useful, exclusive features including journal entries, books-to-tax, and accountant reports. There is also a Management Reports feature that offers options to customize templates, personalize endnotes, and create introductory pages. Some additional features mentioned during the #QBOchat are:
- Close Books
- Batch Reclassify
- Reclassify Transactions
Q5: What is an example of how QBOA has saved you, your firm, or client (by you doing the work) a ton of time?
Who doesn’t love a time saver? QBOA provides accountants with tools to help solve client problems, and simplify processes. Here’s a few examples:
@vrcqbpro: Is it boring if I say Reclassify Transactions AGAIN?
@CathyIconis: This isn’t a tool, but I quickly cleaned up some financials by just changing the mapping of a product/service code.
@davidleary: I’m guessing QBOA has saved accountants 100s of hours not updating desktop software on physical computers.
@BkBuds: Bank rules save tons of time.
Do you have a favorite feature of QBOA that we didn’t mention? Leave a comment below. If you’d like more help with QBOA, check out their website for some how-to videos and tips. Sign-up for the #QBOchat newsletter for the most up-to-date news on #QuickBooks and more.