What’s new in QuickBooks Online: June 2020
June is a month for transformation—school’s out, gardens are blooming, and your garage is finally getting that post-winter de-cluttering (No? Hey, July’s also a month for transformation).
Our latest QuickBooks® Online updates are here to keep your business transforming and improving, too. This month brings new features to simplify your workflow and make tax time more rewarding.
What’s new in June
Receipt Capture in QuickBooks Online
Built-in detail tracking on contractor payments
New! Receipt Capture simplifies tax season, and saves clients time all year
In a nutshell: Nothing says “tax time” like a shoebox overflowing with your crumpled receipts. That’s something we’re determined to change—starting with new Receipt Capture in QuickBooks Online.
You can now snap and store receipts digitally to save hours of labor throughout the year. Receipts are automatically categorized and matched to transactions, so everything’s organized and ready at tax time.
How it works: Snap receipt photos on their phone, then add them to QuickBooks Online in one of three ways:
- Scanning directly through the mobile app.
- Uploading, then dragging and dropping.
- Forwarding by email.
Email forwarding can be set up by selecting the Register your email button in the Banking tab.
No matter how you choose to add them, all receipts will post to one consolidated Receipts dashboard in the Banking tab.
Once receipts are added, they’re automatically categorized and matched to existing transactions.
If no match is found, you can use the receipt information to create a new transaction.
You can edit details, manage user permissions, and delete receipts any time—adding up to taxes that are more reliable.
New! Select trackable details right within contractor payments
In a nutshell: It’s simple math: When running a small business, one step is always greater than two. Our updated contractor-payment process is built to consolidate workflow, letting you pay contractors and choose details you want to track—all in a single step.
How it works: Contractors are paid the same way as before.
When entering the payment details, you’ll now see drop-downs where you can select trackable details—such as class, project, and location.
Hit Pay, and presto.
Tracking will be enabled right from the outset, so you don’t have to dig through expenses later to get the clarity you need.
That’s all for now, folks.
Until next time, as always, keep your feet on the ground…and your books in the cloud.
Source: QuickBooks® Blog, QuickBooks Online Team