november2021 - 14

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Productivity Innovations Announced at QuickBooks Connect 2021
THIS YEAR'S QUICKBOOKS Connect, Nov. 3-4, featured presentations
for accountants and their small business clients, with
keynotes by celebrity chef Carla Hall, actress and philanthropist
Kristen Bell, and author and purpose coach Jay Shetty. The allvirtual
event also included the annual accountant keynote from
Ted Callahan, Accountant Segment Leader, Intuit QuickBooks.
In his address, Callahan discussed
Intuit's mission to help small businesses
prosper, and noted that the
company's mission cannot be carried
out without the help of accounting
professionals - Intuit's valued partners
- who consistently help their
clients grow their businesses.
" Because of you, we believe small
business owners are more financially
stable, more creditworthy, and more
likely to succeed. When I speak to
small business owners, they describe
you as heroes, and I understand why, "
Callahan said.
Callahan went on to detail
recent innovations from QuickBooks
designed to help accountants and
their clients be more efficient and
productive.
NEW " REVENUE SHARE "
PROGRAM
Callahan outlined a new revenue
share program that will be available
soon to accounting professionals
who add new QuickBooks Online
(QBO) or QuickBooks Online Payroll
clients. Callahan explained that many
accountants don't want to manage
their clients' billing through the
ProAdvisor Preferred Pricing Program,
but they want some kind of return on
recommending QuickBooks to their
clients.
" Instead of adding a client through
QuickBooks Online Accountant and
paying for their QBO account yourself,
this new Revenue Share program gets
you out of managing billing, provides
clients with a great discount, and
compensates you for bringing clients
on to the QBO platform. "
Accountant
Through QuickBooks Online
(QBOA), whenever an
accountant starts a new QBO or QBO
Payroll subscription, the accountant
will choose " Revenue Share " as the
billing option. Clients pay Intuit each
month, while the accountant receives
30% of the billed price for the next 12
months.
" And, of course,
if you prefer
to continue receiving an ongoing
discount by paying for your client's
QuickBooks Online account yourself,
the ProAdvisor Preferred Pricing program
will continue to support that. "
Callahan said Intuit is in the
process of opening the Revenue
Share feature up to accounting pros.
Anyone interested in being an early
adopter of this program can sign up at
https://tinyurl.com/sm8fauxr.
BOOKS REVIEW AND
TRANSACTION
COLLABORATION
Many accountants are probably familiar
with Intuit's Month-End Review,
the first-ever end-to-end workflow
that's built inside accounting software
specifically to deliver the books each
month. Month-End Review breaks the
bookkeeping flow into three steps:
transaction review, account reconciliation,
and final review.
Now, Month-End Review is called
Books Review, a name change Callahan
said was based on feedback
from accountants who had ongoing
needs outside the monthly window.
New capabilities have now been added
to the workflow: Bookkeeping Setup,
Bookkeeping Wrap-up, and Transaction
Collaboration.
14 NOVEMBER 2021 ■ www.CPAPracticeAdvisor.com
" We expanded this workflow to
include experiences at the beginning
and end called Bookkeeping Setup and
Bookkeeping Wrap-up, " he said. " Until
today, there was no industry standard
definition for how to set up books correctly,
yet this is the most critical step
in delivering the books. Setup makes
it easier to make adjustments to the
opening balance and sort out issues,
such as disconnected bank accounts
and redundant accounts on the chart
of accounts, all in one place. "
Helping clients understand their
numbers to make more informed
decisions is also very important.
" Wrap-up lets you prepare a set
of tailored reports for your client that
provide insight into their business and
serve as a tangible work product of
your value. You can edit, customize,
and then send these tailored report
packages to your client, all from
within QBOA, " Callahan said.
Helping accountants make the
move to more advisory services is also
a part of Wrap-up because it guides
clients in making strategic decisions,
but just as important is the ability
to get information from clients in a
timely, productive way. " Transaction
collaboration " does just that.
" Beyond the need for a first-of-itskind
bookkeeping workflow like Books
Review, one of the biggest challenges
you face each month is getting missing
information from clients. How much
more productive could you be if you
didn't have to chase, hound, remind,
and bug your clients for those little
morsels of information you need to
complete your work? " Callahan asked.
Once you've requested information,
transaction collaboration takes
place through notifications and messages.
Clients will get a notification
and also see transaction collaboration
requests in the My Accountant tab,
when they log in to their QBO account.
They can open the request and provide
the information for review, all
without leaving QuickBooks.
" You have the information from
your client, and you're no longer
held up! Now you can complete the
transaction review. Transaction collaboration
makes it easier to deliver
complete books and awesome service
every month. "
QUICKBOOKS ONLINE
ADVANCED APP FOR
WINDOWS
One of the ways to get more done in
less time is to rely on apps, something
accountants have known about for
many years. Now, brand new, is the
QBO Advanced App for Windows.
The free app is available for download
and designed to help all QBOA
users manage their QBO clients, no
matter what version of QBO they are
using.
Continue Reading Online at
https://cpapracticeadvisor.
com/21244516
The ProAdvisor
Spotlight is sponsored by
https://www.tinyurl.com/sm8fauxr https://cpapracticeadvisor.com/21244516 http://www.CPAPracticeAdvisor.com
november2021

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