Monday, 21 December 2015

QuickBooks Latest Update: October 2015

Inventory tracking

“New item” drawer. Clicking New now displays a drawer that lets you create a new product or service, classify it, upload a photo, and enter details. Gear > Lists > Products and Services > New.

Three item types. Previously, QuickBooks Online supported two product and service types — items and services. There are now three types: Inventory item1: an item you buy and/or sell that you track quantity on hand for. Non-inventory item: an item you buy but don’t track quantity on hand for, like the nuts and bolts used in installation. Service: a service you provide to customers, like landscaping or tax preparation. Re-classify multiple items at once. If you need to change the item type on many items, you can now batch edit them (between service items and non-inventory items only). Gear > Lists > Products and Services > select multiple items > Change type.

To change the type of a single non-inventory or service item, double-click it in the Products and Services list and click Change type at the top of the drawer.

Here’s a summary of the item type changes we support: QuickBooks inventory matrix

Bank feeds Mark a bank transaction as a billable expense and assign it to a customer2. Many of you asked for this and we heard you! Left nav > Transactions > Banking. Click a transaction to add, and then mark it Billable and select a customer.

Add an attachment3 to a bank transaction. Another improvement based on your feedback — you can now add an attachment (like a receipt or photo) when you add a bank transaction. Left nav > Transactions > Banking. Click a transaction to add, and then click Add Attachment. Connect foreign bank accounts. You can now connect foreign bank accounts to QuickBooks Online. Note that you must turn on multicurrency4 if the foreign account is in a different currency. From the home page, click Connect account in the upper right corner and turn on Search global banks.

Registers5 Quicker access to registers. Now you can access registers right from the home page, just click Registers.

New keyboard shortcuts. Press Ctrl+Alt+N to add a new transaction row to any register, and Alt+S to save the register. Pagination links (First, Prev, Next, and Last) appear at the top of the register, as well as at the bottom. Correct running balance in reconciled status. When you sort the register by reconciled status, running balances appear as expected. Search for text in memos. From a register, click the Filter icon and enter memo text in the Find box. Other changes 1099-MISC forms available for tax year 20156. You don’t need to send these forms until January, but you can now start working on them! Left navbar > Vendors > Prepare 1099s > Tax Year > 2015.

Multicurrency now available in the QuickBooks Online test drive. Not sure if multicurrency tracking is right for your business?


1. Inventory tracking is available in QuickBooks Online Plus only and requires this setting turned on: Gear > Company Settings > Sales > Products and services > Track quantity on hand.

2. Billable expense tracking is available in QuickBooks Online Plus only and requires the following settings turned on: Gear > Company Settings > Expenses > Track expenses and items by customer and Make expenses and items billable. Note that on the Banking page, only one billable customer can be assigned to a transaction; you can go back to the transaction after you add it to split it and add multiple billable customers.

3. Only one attachment can be uploaded from your computer. This feature currently supports attachments when you add a transaction, not when you match a transaction.

4. To turn on multicurrency: Gear > Company Settings > Advanced > Currency > Multicurrency. You can’t turn off multicurrency once you turn it on.

5. Learn how to use the new registers.

6. Preparing and printing 1099s is available in QuickBooks Online Plus only.

7. To try these updates using sample data, check out the QuickBooks Online test drive.

8. Missed any recent QuickBooks Online updates?

Report an issue or suggestion

 Leave feedback by clicking the Gear icon in QuickBooks, and then click Feedback. This is the official way to get your ideas recorded and worked on!

Get instant technical support for QuickBooks, Call us at QuickBooks Support Phone Number +1-888-539-4694.

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