QuickBooks Payments

July 7, 2021

Enhancements to QuickBooks Invoicing Speeds Up Payments for Your Clients

Over the last several months, there have been many new and improved features for QuickBooks. Now, Intuit is sharing details on innovations it's added to the QuickBooks Invoices’ solution to deliver an even more intuitive, powerful, and fast payment ...

Over the last several months, there have been many new and improved features for QuickBooks. Now, Intuit is sharing details on innovations it has added to the QuickBooks Invoices’ solution to deliver an even more intuitive, powerful, and fast payment experience for your clients.

Any business needs to get paid fast, and Intuit has long been a leader in supporting faster invoicing payments, helping businesses send more than 400 million invoices amounting to over $1 trillion each year. As the company continues to listen to all of our customers and expand the benefits QuickBooks Payments provides, it looks forward to these enhancements helping you evaluate your clients’ books in real time, and empowering you as strategic, impactful advisors.

A Dynamic, Rebuilt Estimate Feature

Estimates are important for a wide variety of professions. With the newly rebuilt estimate feature, your clients can create professional looking estimates in just a few minutes, whether they are at their desk or out in the field. Now, they can save templates, build a library of favorites, and copy existing estimates and invoices to save valuable time when starting new projects.

After sending an estimate, your clients will have complete visibility into when they’ve landed the job by knowing when the customer’s estimate was viewed and accepted. Best of all, clients will know they’ve been paid through the estimates list and activity tracker.

“For small businesses, growing your company means being able to convert more leads into new business, delivering on time, and staying on top of cash flow,” says Gagan Shah, leader of the Product Management Team for QuickBooks Invoicing. “These new changes make QuickBooks Invoicing an even more powerful tool because small businesses can now easily send a professionally designed estimate, get their customer to approve it and pay a deposit online, and be ready to get going on the project, all within minutes.”

For those on the receiving end of the estimate, new tools simplify the experience and help them take action. Through QuickBooks Estimates, potential customers can easily accept the estimate online in one click. Soon, a customer will also have the ability to pay a deposit if one is required to seal the deal and free up cash flow for any upfront expenses.

Invoices1

Additional Invoice Features

There are a number of other enhancements to QuickBooks Invoices:

Sending invoices. When the invoice is ready, your clients can send an invoice from a Gmail address or by text message as a shareable link. QuickBooks will also offer smart suggestions to accelerate payment. These smart suggestions are based on an assessment of the client’s profession, recommending email subject lines and invoicing terms that can help get a customer’s attention – and get your client paid faster.

“The new estimate creation experience is also available on the QuickBooks mobile app,” says Shah. “Sharing the estimate and invoice link via text message is already seamless, and the screens that the payer sees are also optimized for mobile, with the ability to use Apple Pay and Google Pay to pay an invoice from their phone. Together, these features make the entire customer relationship and payment experience easier to handle on the go through mobile devices.”

Adding tips or gratuities. Another enhancement is the addition of tips or gratuities, giving your clients the opportunity to earn even more money. If this feature is enabled, a client’s customer will be able to add a tip to their invoices to recognize them for a job well done.

Subscription payments for invoices. Some businesses have recurring relationships, such as monthly fees for services or other types of ongoing payments. Now, through subscription payments for invoices, your clients can set up automatic payments for recurring invoices.

In addition, clients can schedule payments for their invoice on a future date or set up automatic payments (available on recurring invoices only) and have access to see all of their outstanding invoices. These convenient features – along with automated email reminders for unpaid invoices – help ensure a customer won’t miss a payment. Your clients will get their money faster, while eliminating time spent chasing down outstanding invoices.

“When small businesses have a recurring engagement with the same customer, we’re also finding that our new auto pay option is driving much higher rates of payment for subsequent invoices,” says Shah. “This improves predictability of cash flow and helps accountants have a more accurate, real-time picture of their clients’ books.”

For information about how QuickBooks Payments can help you and your small business clients, please visit https://quickbooks.intuit.com/payments/.

Thanks for reading CPA Practice Advisor!

Subscribe for free to get personalized daily content, newsletters, continuing education, podcasts, whitepapers and more…

Subscribe for free to get personalized daily content, newsletters, continuing education, podcasts, whitepapers and more...

Tags: Benefits

Leave a Reply