QuickBooks Online Accountant offers the ability to write off invoices in batch mode instead of individually, with the program opening a list of invoices on one screen. Users can also batch reclassify. Recurring transactions and entries can be set to automatically post. Since the program directly integrates with the clients’ version of QuickBooks Online, all data is live.
As a program with always up-to-date data, a variety of snapshot views offer easy to understand charts, graphs and summaries of key business indicators, as well as access to financial ratios, benchmarking and additional analyses. Also included are functions for automatic invoicing, delayed billing, the ability to create and send purchase orders, inventory tracking, management of multiple locations and budgeting and planning.
The system can manage multiple bank accounts and offers check writing functions with options for MICR printing, with client logos included. For payroll and payroll compliance, firms or clients can use Intuit’s online payroll solutions. Users can set up automatic alerts to remind them of client issues and deadlines, such printing sales transactions or other tasks, and the program also offers messages from Intuit.
Reporting & Financial Statements: 4.5 Stars
The system includes full financial statement generation with the ability to further edit financial sets by saving them to Excel format, while additional reports are available for budgets, class tracking, inventory management by FIFO only, and location tracking. Reports can be customized as needed, and special company scorecards and snapshots provide benchmarking and quick comparisons against other similar business entities. Reports offer the ability to drill-down to underlying transactions.
The program includes an adjusted trial balance report, and provides full AR management with built-in invoicing and the ability to receive electronic payments from clients using GoPayment.
Import/Export/Integration: 4.5 Stars
One of the key benefits of QuickBooks Online Accountant is linking with clients’ versions of QuickBooks Online. This is more than integration, and much better than any synching or data transfer method, since it gives the professional direct access to real, live client data at any time. It does not provide a method of sharing other files or documents; however in QuickBooks Online you can attach a document to a sales transaction.
QuickBooks Online directly integrates with Intuit’s online payroll systems for processing, as well as for quarterly and year-end reporting. The system does not directly integrate with the desktop version of QuickBooks, but integrates with Intuit Tax Online at a basic level. Users can also export trial balance or other data to Excel for import into other systems.
Help/Support System: 4.5 Stars
The program provides multiple help options, including a help index, accountant tips, and guides for program functions. The company’s online support website offers FAQs, Live Chat, getting started tips, resources and other resources, including access to the Intuit Community forum for users. Free live technical support is offered during the first 30 days of use, but QuickBooks ProAdvisor members get free continuing support and additional training options.
Summary & Pricing
The new QuickBooks Online Accountant is a welcome addition for firms who are moving their clients to web-based systems, and provides streamlined multi-client management tools for write-up and client journal and ledger management. The direct linking with client financial institutions makes account reconciliations more accurate and up-to-date, and various other data tools offer good functions for firms providing monthly accounting management services.
Currently, QuickBooks Online Accountant is free for 180 days, after which ProAdvisor members have no charge to continue using the system. Other professionals will also be able to continue using it free if they have at least one current QuickBooks Online client being managed in the system.