Intuit/QB Updates and FB Group Post Q&A

Matthew Fulton and Dan DeLong will be discussing some Intuit program updates as well as a discussion about Intuit's direction and how the accounting community will play a role in the direction they are heading. We will also be discussing some recent questions added in the the QB Power User Facebook Group

QB Power Hour is a free, biweekly webinar series for accountants, ProAdvisors, CPAs, bookkeepers and QuickBooks consultants presented by Dan DeLong and Matthew Fulton who are very passionate about the industry, QuickBooks and apps that integrate with QuickBooks.

Earn CPE through Earmark: https://bit.ly/QBPHCPE 

Watch or listen to all of the QB Power Hours at https://www.qbpowerhour.com/blog

Register for upcoming webinars at https://www.qbpowerhour.com/

00:00 Introduction and Greetings
00:24 Overview of Today's Session
01:22 Meet the Hosts
03:11 Technical Announcements and Challenges
05:15 QuickBooks Updates and Features
05:57 Polling Question: QuickBooks Versions
08:19 Client Access Roles in QuickBooks Online
13:09 Migration from Tags to Custom Fields
32:27 Introduction to Automatic Matching Transactions
33:55 Concerns and Caveats of Auto Matching
36:41 Payroll and Tax Payment Enhancements
38:28 Intuit Enterprise Suite Updates
43:22 QuickBooks Desktop Migration Options
52:06 QuickBooks Payments and Revenue Share
01:00:28 Handling Write-Offs in QuickBooks Online
01:06:08 Conclusion and Upcoming Topics

Transcript

04.15.25_-_intuit_qb_updates_and_fb_group_post_q&a_15_Apr_2025_restream: 0:32

go. There they are. Dan, you gave me top billing, man. That's so cool. Thank you. That's right. And you're, if you're looking at the slide from left to you're first there. Woo, appreciate it's my good side is why I did it that way, so That's right. Good morning everybody. I can't say it's alphabetical, but, either way, we're all friends here. Welcome everybody to another QB Power Hour happy tax day. So we, appreciate and certainly understand if if some of you can't join, be joining us here because you are heads down elbows deep into the the, tax deadline, either doing the filings or filing the extension is probably more apropos for the day. But what today we're gonna be talking about the some Intuit QuickBooks updates, product updates and, also talk, fielding some questions and, from our more popular posts on our Facebook group. So let's get started here. Always a, fun session. We try to do these quarterly to make sure that people are up to date on the, Shenanigans or going on at the, company we know and love. My name's Dan the long owner at Dan and School Bookkeeping at Intuit, cohosting today, as well as over at the workshop Wednesday at School Bookkeeping. Appreciate you joining us today. Matthew. Hello everybody. I am Matthew Fulton, my friends Call Me Spot. I am the owner of Parkway Business Solutions, the creator of QB Community Live Facebook group. I do a lot of do a lot of project work, a lot of work with app companies, and they're trying to integrate with the API and a lot of workflow stuff. So as always, happy to be here and, one more day, folks. You're almost done. Just a couple more hours and it's gonna be pretty awesome. The end is nine. Maybe not, the best way to say that. Today, a little bit about the QB Power Hour. It's every other Tuesday. That's why it just happens to fall. Today on, tax Day at noon Eastern we are not eligible for live CPE, but as, or the AI generated Blake, I'm not sure if that was really Blake in the, at the beginning. At the beginning, but maybe it is. I don't know. We'll have to ask Blake when you see him at scaling or something. But through earmark there is CPE available for the Power Hour. You can always check out our channel there. And if you miss CPE or if you attended an episode and you still wanna get some CPE, you can take the Quizizz over at earmark. There our channel there, we have about six of our prior QB power hours there, available there for CPE. And this one will be likely in the next or so. Keeping, Q and a, if you have specific questions, topic that we're talking about today, please, Q&A, especially if it is, we can see it. Sometimes we can address it live, but sometimes we need to follow up. Certainly helps with that. If you have general comments or chatting type of things you have the chat as well, and. Which I believe I gave you the link, to, put in there. My helper is, is not behind the scenes today, he's at a doctor's appointment. So we're, running on a little bare bones. And of course, we have some technical difficulties right before going live. We will get the posted there. And we're also seeming to have a, some challenge with the YouTube live stream. So lots of things to, to deal with. While we, do this live I did wanna do also do a shout out. It looks like the top 100 ProAdvisors were was list was released today, and I saw some familiar faces there, or familiar names. There is no faces on a list. But wanted to congratulate everyone was nominated and selected for this year's top hundred. Congratulations. Great, to see some, new faces. And that's one of, I took a nod from, Matthew, actually. And, wanted to not be part, yeah, I didn't wanna apply this year because I wanted to make room for all of the great new faces that, we're seeing in the, in this community here. So we all, our own worth. And so it was we wanna see, other folks, as well. We do have a Power Hour store. You can always check that out there on print Deify. But what we're gonna do talking about here today is some QB in QuickBooks and Intuit updates. We'll, unpack that. We will a little bit about desktop. Wow. There's something to talk about with, desktop. I forgot to put'em in the slides, but we'll talk about, so please remind, please keep your, we few things with desktop, and then we'll talk about some of the Facebook group posts that, that, have been gotten, that, that have been gotten, have gotten some pretty good traction on our, Facebook groups, as well. So our first question polling question is what version do you use? Is it QuickBooks Online Desktop, or. So Matthew go ahead. We like to ask this question. People may be noticing we're asking it frequently here and there. We're doing it on purpose.'cause it's interesting to see what the trends may be happening over time. So there is some madness behind the scenes long run for some of that, as you see it. We're, interested to see what people are doing and I'm primarily, I'm still, I'm like 99% QuickBooks online. 1%, you know who you are, person, that is desktop that we're still supporting and such. And then I do a lot of migrations from desktop to online then too, which is a lot of fun actually. Yeah, I heard a I saw a note in there that my voice keeps going in and out. Do you hear anything? Matthew I've been, hearing it too. So actually I'd like to ask, is that for both of us or is it just Dan because he is got the super bolsters voice. I can't get that low. Just Dan. Okay. Sorry about that. All right. Yeah, so I had to update my my Macintosh and all sorts of new quote unquote improvements about sound and video and things. So I did put on voice isolation thinking that it would drown out any kind of background noise. Is it any better now? It is. It seems like it's better. Okay. So I'm on standard so much for voice isolation. You won't be doing that anymore. That's now we have audio troubleshooting to our list of things that we do on the Q Power. Dan, I'm gonna be coming to visit you pretty soon so we could spend some time working on just your Mac. I know I'm a PC guy, so it's works perfectly for me. But we can get your Mac to work like a pc. So Yeah, you can always tell a Mac guy, just tell'em much. Okay, we can, we got poll wise, both still pretty heavily, which is what I would expect. Yeah. Yeah. And a mere 5% for solely QuickBooks Desktop. So we definitely wanna make sure that we include some desktop discussion here. Alright, so let's talk about some of the QuickBooks Online updates. Do you wanna talk about the client access roles? Yeah, so this one specifically has to do with for us accountants. So when you've got different team members, you now have better they say granularity of how you want to provide access to different company. Like within your books as well as other companies files. You can really clearly define what people can do or not. So you can make it easier for people to either be able to create, edit, delete, or just view. As well as some of the later stuff, of course the pay and approval aspects of it. So instead of it being just the way they're laying it out is a little bit different now in comparison before where like you clicked one thing and just auto gave everything. Now you can like really finesse it. And then there's different access across, like the ability to access your inventory lists, budgets is really important when you think about like payroll reports and budgets. I've, had quite a few times with business owners where they don't want other people to see that stuff.'cause it's a sneaky way to see what other people get paid or what the owners are making. So you had to, there were hard ways to try to hide that information or not provide access to that. And this is now gonna provide a little bit better control over that part of it for sure. Now, I wasn't sure and wanted, to clarify, is this for all versions of QuickBooks online or solely QuickBooks Online that you, believe this is specific for QuickBooks Online accountant for our team is what they had been saying on, the article part of it itself. Got it, Which your books in, QBOA accountant, is on advanced per se. I, would be curious if going into some of my advanced clients if this, this is, certainly an option for, a lot of advanced, at least they, tease you with it give you these options to like, like you can pretend to uncheck them but, you actually can't. Exactly. But it, it does give you an idea of what it is what the roadmap or what the future looks like for user permissions. Still not on the it's getting there. I love this. I. If you create, edit, delete and, giving the, flexibility to, do those things. With I just had a migration from desktop to to online. And, to your point of payroll they ran their payroll out of a specific register in the the operating account. And then they got the payroll account that they were running everything out of, and they didn't wanna have people access to that particular register. Unfortunately, that's still an all or nothing type of thing. If you have access to one bank register, you have access to the all even in advance. But anytime that there's a gap between desktop and, online Intuit is hopefully wanting not hopefully, but eventually is, wanting to close that gap so that you can essentially do the same things in desktop as you can with online. Yeah. And I guess one thing I should add onto that is it's not fully available across all company files yet because I was actually just trying to go and pull up one of my sample company files and maybe show it real quick. But of course the ones I've got it, you never have the features and the one you want to have it in. But I digress. So this one though, tags, this is, yeah. Pretty big. Yeah. This has been a an ongoing saga I guess is, probably the, best way. I still seeing some notes of, people my sound still breaking up. Is that's what you're still hearing? Yeah, I was breaking up a bit. You could just double check maybe your zoom setting also.'cause your zoom may have changed if it's got same. Same. Okay. Yeah, it seems to be the same. As far as what it is, it may be this headset, which is supposed to be the super headset, the sounding thing. And I don't have my AirPods to switch over to anybody else knows how funny it is. As soon as we start to complain about it, it gets perfect. It's like when you have a problem with any program, there's gr it's like ears. It's time to hide again. Okay. And on your cell phone is, everybody can hear perfectly. Can you hear me now? And then, it's whatever you say after that. Alright, love it. We'll, let me, just turn off this, okay. This one here. And we'll just, so while he is doing that, what we're talking about, most people may be familiar already with QuickBooks Online, the fact that the tags have now gone away. Surprise. And the question became what are you supposed to do with this tag information if you're using it? I had actually reached out to somebody, Intuit a couple months ago was asking like what are people gonna be able to do or not do? They created this process to be able to take and migrate tags over to a custom field. And my question becomes, when they did this, they added to the ability to have a custom field on every single level basically. And other ones they bumped up one, I believe, except for, for advanced. Advanced and such like that.'cause you already had plenty there, am I thinking right, Dan? Yeah. Yeah. Did you it was funny because I was thinking back when, tags first came out, I was in the same place that I am today talking about, it's your fault back in, yeah. Back in in Florida. It was funny. It's, become full circle. But let's talk a little bit about the timeline that Leo DiCaprio, dude. Yes. Oh, I forgot to put the gate in if there's room for him on the door. I'm sorry. Yeah, it's it was Kate saying I'll never let you go. Okay. Sorry. But we gotta let go of of tags because of the, this timeline. So we're in so custom fields where the expanded functionality started St. Patrick's Day. So we're in this point of March 17th through May 15th, where you wanna migrate your tags, and we'll talk a little bit about that process. And, tomorrow on the, workshop we're, gonna do a little bit more deeper dive discussion about this migration process. But the you migrate your tags to custom fields we just have in this window. Now I can't confirm or deny. What's gonna happen on May 16th as to whether or not you can migrate them or not. Because on May 16th tags become read only. So I would assume that deadline of May 15th, to migrate your tags to custom fields is a hard stop. I plan on it. Yeah, I would plan on that. So if you're using tags and you wanna migrate them to custom fields you have one month now to do that. So Dan, I know that you're gonna do a deeper dive on, the workshop Wednesdays. Yeah. How does it work though? So what if you're using multiple tags on a transaction? Yeah. But you only have one custom field. That is that's the, when we talk about, pros and Yeah. Buts okay. That is a Yeah. But, you can only assign one. Tag or one custom field essentially per transaction. So that is a, that that's a, that, yeah, that's a side effect of this whole process. So there is a link there to the, to this Intuit article and I'll bring that up in Mark. Just put another good one in for the chat for insightful accountant as well. I'm gonna copy that and paste it over to the live. Yeah. Thank you, Murph. You man. All right. So this is the process of, migrating your tags, but basically tags are being discontinued. And just one thing to keep in mind about tags, it was something that was assigned to the, on the transaction level, not on the line item detail. So that leaves, a bit of a challenge to try to figure out what to do with this. And, we can only speculate as to why. But typically when features are discontinued, it's typically because there is non usage, right? And then you, and then this is what happens when they, discontinue features, they find out how many people were really relying on that feature. Aren't they creating their own graveyard? Honestly, by doing it this way all the time, because if you think about it, I truly never dove in and did a whole lot with tags after getting burned by the classes thing so long ago. That they shrunk it down. You had to change it over if you were gonna use more classes, tags, just, it seemed like it was somewhat of a replacement and it just never really made the most sense to me. If they do this and they're always sunsetting these functions like that, I don't think people adopt the new features as quickly.'cause you get worried. It is if this do I, wanna be, do I wanna adopt this new feature for only for it to go away? Yeah. And that's, a legitimate concern. But it's it's a catch 22. If you don't adopt it, it will go away. Yeah. And, I think that's I'm I we look at some of the new services like the QuickBooks bill Pay service that was, launched. I'm a little hesitant to, to dive full both ends in the deep end of the pool of that. Because I, it I don't want to be the Guinea pig, of this, feature, especially when there's real money involved yeah. Of of, a money movement tag's a little different. That's a, feature. There's there's no I'm not harming any relationships by, that's good point to layer by that, by not adopting that feature. But in in, in to give them credit at least they did try to think this through. It's not perfect. But it does, I think, lay some groundwork for them to actually bring back the fully functional, things that are getting removed here by the way that they're, doing it. So what's happening is, they're replacing it with a custom field, because on the surface that is essentially the same thing that a tag was assuming that one thing that you're assigning just one tag to, to the transaction, right? And they're adopting, a QuickBooks Online Advanced feature in this custom field, right? Dropdowns is a custom field that you can only specify for a in advance, right? You can only define that custom field as a dropdown in advance. So they are allowing all other lower versions plus. Essentials and, even simple start to take advantage of this this option, which also then unlocks to those other other versions, the ability to create other custom fields with that dropdown capability. So it doesn't have to be just for tags. Matthew, major time out here. What that also means, I was waiting at first be like, oh, cool. That means in some of these other ones we're we'll have a custom field we could access through the API through different programs. That means this new added custom field is not accessible through the API. So you can't use it through third party apps. You won't be able to access it. It's more, than likely. Yeah. Yeah. I would imagine that's not the case. It's you, still have access to those first three. Yeah. With essentials and, plus. But the ones that are definable. Are off limits so far. Okay. So I wanted to show, oh, can you hear this? Yep. Oh, wait. Nope, You'd have to click in. And then, when you did your share, did you share audio? I did, but with everything that I've done with the audio, I may have turned it off. Let me see here. Share computer sound. It's on mono. Let me just try it again here. Or maybe there's no audio. I don't know. Murphy is saying regarding the new permissions, I'm guessing that we will see QBO expansion of the new role settings to be much closer to the expanded version found within Intuit Enterprise. Yeah, I would agree there. So when you access the the tags from the from the gear. There will be an option there to select migrate tags to custom fields. And then when you do that, then it's going to, give you the option to name whatever the field might be. You can change it to tags, and then what it's gonna do is it's gonna take every individual tag that you have. One thing that you could do in QuickBooks oh yeah with, tags is to make a tag group. But it on the, bottom level of the of the tag group, that's what it's going to put that in as a, custom field dropdown. So it's only going to allow you to, again to Matthew's point create one, or add associate one tag, per transaction. Now you could, if you're essentials are plus. You could take up those other if you're not using those other custom fields, you can create essentially a tag one, tag two, tag three and then create your own tags in that tag list in those custom fields, and then have multiple tags. But again, what are you gonna be able to do with that? Not much yet. So if I bring up, Jen, can I steal the share from you real quick and Yeah. Okay. See if I can, if you like Adas, here we go. Boom. Share. All right. So I just created a while. He's, while he's bringing that up. Is my, audio any better? Alright. Should be showing you our, my QuickBooks online right now. I just created two quick little tags in this as an example. Like you said, top gear icon, go to your tags, pulls up this area. You can then click on migrate tags to custom fields. This is then gonna show up everything you've got. It's gonna list all your different tags. I just created the two of'em, and then you can choose basically, so it's got it set up here. Choose a type here, what you want to use it for. All the stuff like you would normally do, like Dan said, for cbo, advance, the type of areas you want to use everything for. So transaction will be across everything. Customer would be only customer or vendor, so forth. Hit save. Important, note. If you're, not using advanced and you migrate your tags, it's only going to be accessible on transactions. It's not good point. It's not something that you're gonna be able to assign to the customer or the vendor or the project. That is something in this article that, lays that out pretty well. So I'm gonna share that again. Okay. There we go. Make sure I do the right one. All right. Yes, this article is listed linked in the in the handouts as well as the, replay page that we have. And this is what I was talking about here, simple Start Essentials and plus is a dropdown list but only can be used on transactions. Whereas in advance you have transactions, customers, vendors, and projects to be able to use that on. You will have, as somebody mentioned that up to 100 options. And I thought that the lower levels of QuickBooks simple Start Essentials and plus had a limit on the number of tags or tag groups. But I may be confusing that with classes and locations of plus of being 40, but they may have just removed that. But you ha only will have a hundred maximum in the, dropdown. Still only gonna be able to choose one of them. So you may modify your your, dropdowns to incorporate some of those additional tags in the tag groups if you, wanted to. That's smart. It's it is just, essentially that's what's happening is that all your tags are going in as one dropdown on one custom field. So then it talks about in these common questions at the bottom. This is a really cool chart, in this article, which reports support custom fields. And this is just in general, not not in this tag issue, but in the grand scheme of things. This is, a pretty cool chart to be able to see which reports support custom fields just in general. And as you, as we do a quick scroll down here, you can see that advanced checks all the boxes. So that does give a nod to advanced as far as adding those custom fields. But you can see, and look at any report that's in here and whether or not custom fields, IE your tag mi, your migrated tags will actually be usable on those reports. So here is, down here at the bottom is the, sad, really sad part of all this. Can I create a profit and loss report by custom field Right now the answer's no. So that was the advantage of tags, I think in, the grand scheme of things, is that you could tag, transactions on the transactional level and then run a profit loss by tag. But you cannot do that after this migration because custom fields does not allow that. So what about the classes? No okay why not? I, why don't I migrate my tags to classes? No, you don't have that option either, right? Can you add them in the bank fee and with rules? No. So there's a lot of nos here, but, that doesn't mean that it's no tomorrow, right? So it's this may be laying the foundation to to, take care of that, in the future with, increased functionality. And you migrate your tags to custom fields replace on historical transactions? No. So which is why, so the, what's interesting, right? The reporting wise, it says that the reporting will still be available, I think it was for another year three year. But after that, yeah, the date range here is, yeah. I always get confused with these dates and years, but May 15th, 2028. Okay. You'll be able to view tags and generate reports for historical transactions. Okay. After May 15th, 2028, the ability to view tags and generate reports will no longer be available. That's reasonable the way it is up till today. We'll continue that way until with tags anyway until May 15th, 2028. Dan, can you grab the URL that you're on for that real quick and post that into the I can chat. Thank you. And for those that are saying that their screen is black, it's hard. Sorry to hear that. If that's happening, what you can do is,'cause I do watch Facebook as well, live there for questions, comments. I added a link there. Of course, we want you here so forth, but feel free to join over to Facebook and I will bring your comments in and share with everybody else just in case you're have any kind of a challenge like that. And thank you for bearing with us on, some of these nuances. All right. So yeah, it's been toxic today. So these are the yeah buts with that, so appreciate the Golden Girls referenced. So his historical trans transactions are not affected, so it's not going to go back and put your custom field back on your historical transactions. And as Matthew Astutely pointed out, because this is a dropdown you cannot use something like SAS, Sassan or some kind of. Third party to go back and bulk add these custom fields to those historical transactions either. So womp on that. Reporting is gonna be an issue, right? So you're not gonna have this, no pl by tag but you will have historical profit and loss by tag. That, that ends up being a you end up having two kinds of reports if during this transition period. And then reporting by custom field is gonna differ by version, and it's not an advanced custom field in, in that regard that, you can define all fields as custom field. You can either choose the text and number option. Or the dropdown when you're creating the custom fields, but you can't choose the date option, which is, the, fourth option. Or you can't specifically call it a number, which in advance allows you to, do a little bit greater flexibility with with numbering filter. Yeah. Can't migrate it to a class and you can't add it to the bank feed. Nice try. It's something, it's not just, it's not just they're turning off the feature, right? So they, tried to throw a bone and they did add some additional functionality. So even if you're not using tags here in simple Start essentials and, plus you do have a dropdown as a, as an option for custom fields. The people that weren't using tags in those lower versions would be like why, did this occur? Now, all right, that's that's tags. Talk a little bit Matthew, about automa automatic matching transaction. Yeah, so there's two things. There's a couple different things going on within the banking area. They are currently working and testing out improvements to the bank feed area and the way things are laid out. But the biggest thing that's really come out right now is this automatic matching transaction concept. So what this is gonna be doing is the more. When you're using more and more of the Intuit QuickBooks Online features, what I mean by that is the bill pay, the payments and the payroll, they're starting to automatically match transactions since it should already know those details. Now it will only match if it has three pieces that all align. So it's gotta be the date, the name and the amount all have to be the same. Otherwise it won't do an auto match. But the goal is to have it set up to where if you turn this on, and that's a major caveat, if you turn it on, it will go in and auto match the pieces for you. When they do that, you can still in the bank fee go to the categorized area and you'll now have the ability to see all of the auto matched transactions. So you can still undo them at any point in time if you want to. So you're not really stuck. This concerns me, right? It's kinda like when auto rules first came out that, or the auto ad rules, it just became a nightmare. So the auto matching, when it works great. I think it'll be cool. But I am a little concerned at the beginning.'cause what if you have multiple people with the same paycheck? I know it's supposed to match three things, but And happens all the time. Yeah. And with the, is this only for these these three options for bill pay, payments and, payroll? Yes. Yeah. It's, really, it's the functionality that's the ones they're saying that they will work with. Will it expand in the future? I'm expecting it probably would. There are some other caveats that had said that depending on the financial institution that you're working with, if they don't have like unique IDs inside of the transaction lines, it still may not match them perfectly. But it is their, transactions, they're matching with themself, which makes sense. Yeah. Yeah. And I believe they, they are they're able to, detect so something in that downloaded transaction that yeah, they're not able to, for other, transactions like your Slack, membership or subscription those types of things that don't necessarily come down. They can add something to that transaction so that they can see it on the way back. It's kinda like a boomerang effect of yeah. Of those particular transactions so they can see a little bit more detail and do something with it. So to not, to get too nerdy.'cause when it comes to bank feeds, it's an area I've spent a lot of time on hidden behind the scenes in like the actual bank feed. There's extra data that we never see. Even when you download like a qbo, oh, effects file, CSV file, there's other numbers that sequentially order them. And that's how when you upload transactions, if you try to upload the same transactions set twice, it will actually eliminate them automatically. There's aspects of that you wouldn't see as part of it. And then Kim made a really good point that what they're doing with it though is they will turn on automatically. And you may need to go and turn it off. Yeah. So if you're seeing stuff that's there, it's like automatically being added or you're not seeing it, go check that out for sure. Do I do suspect that and, appreciate that there is a, an option to opt out? Yeah. And not do it automatically. Especially if it has undesired consequences. Whoops. So the payroll, anything you wanna talk about here? Payroll. The payroll, paycheck stuff. Same kind of, basically the same kind of a concept. This one I feel a little bit better about. I don't know why, but I just do. Because it is so much easier for it to just line up the paychecks and have everything set up. The, payroll tax payments is nice, but it draws a very like. Very important thing. I hope you are reconciling your payroll liabilities minimum every month, right? So we've always set it up that we prefer taxes to be paid immediately, right when the payroll is ran, which nowadays they're pulling the money for that anyways. Actually, doesn't that go into effect this month, Dan? Or was it, I think maybe it was first, sorry, was I was answering a question. I always like to wait until I see you typing, looking away so I can ask a question. I feel it's perfect. It's a really good friendly partners thing to do there. So they were setting up in payroll where they will impound your payroll taxes immediately so that way they ensure okay, so they are already doing that. They're already doing it. I thought so. I thought that had already started. And by setting up the opportunity to earn money on the float. I think that is, that's, likely why they turned it on right away in the overdrawn charges. Yes. It, by having it all set up to where it's all taken the same day, it should make it easier to reconcile your payroll liabilities like immediately. Usually that's, what we've always done, put a one in the comments. If you love reconciling payroll, put a two if you hate it. I'm gonna say that we're not gonna see a lot of ones, here. All right. Some, news about the Intuit Enterprise Suite. This is not the QuickBooks desktop enterprise, but wanna talk about some of the things that you noticed there, Matthew? Yeah, so I was grabbing this, I found this section and one of the emails was coming out from my sales rep because they're continuing to evolve and make things. To enhance it. The thing I really like best I'm most excited about is for Intuit Enterprise, it's the intercompany transactions. So I have I'm working with this company from Guam and Saipan. They've got multiple entities and it's, and there's so much back and forth where they're paying this bill for that one, they're sending money back and forth that this ability to intercompany transfers will really help speed that up. So now you can do all this stuff directly from the bank feed or the expense form of the bill. So instead of having to go right now, I have to. I'm basically doing it with two browsers open with one kept on each one. So we're doing'em both sides at the same time. So something doesn't get missed makes it a lot easier to do it all inside the one dashboard, the one place, ability to do forecasting, profit and loss down to the dimensions as quick reminder dimensions are like separate class lists that you can have multiple dimensions on transactions. So you could have a dimension would be different regions. It could be different salespeople. It could be a whole bunch of different stuff. And then you can customize your workflows as well as the workforce management updates. So the paycheck correction for closed quarters. So that's all gonna be in IES as well, which is pretty, should be pretty interesting how that works. I haven't played with some of this stuff yet though. Yes. And Mary in the chat, ask the question that we're all a wondering when are, accountants and ProAdvisors gonna get access to, to be able to play around with some of this stuff? And I don't think so right now that is, ask my Magic eight Ball, answer, unclear ask again in probably six months. So I don't know if and when that will happen, because I've even asked for it and was, haven't been able to get a a hold of one for myself and Lynette. We are specifically talking about the online version of Intuit Enterprise Suite, instead of not the desktop version. But yeah, it's tough and, I think we're still in the honeymoon phase of Intuit Enterprise Suite. They're, Intuit is still probably trying to figure out the, whole sales cycle because it is a multi conversation, type of discovery, figuring out what what, people actually need. I wouldn't, I just because it has the word enterprise in it doesn't mean that all of your desktop enterprise clients are a good fit for it. Correct. I think at this point it's the, entities that are on online already that have multiple entities, and some heartache about that are right now a better fit that for inter Intuit Enterprise Suite than somebody on QuickBooks Desktop that has multiple desktop files that they might want to. Now that may not be the case, right? Depending on their workflows. It's there's no, one size fits all, for whether they're a good fit for it or not. It's really just a matter of understanding, what, what struggles they, they have and. Whether they would be addressed with, a lot of, with some of these things. One thing that I'm a little cautious leery about with, Intuit Enterprise Suite is again, all of the, the things that make Intuit and, working in QuickBooks online. Great. Having payroll and bill pay and all of these integrations because they can take those integrations to a next level is that's putting all of your eggs in one basket. If one of those eggs goes sour, that could potentially spoil the entire basket. I have to add real quickly, Rachel's watching online. She said, I love reconciling anything. Of course she does. Okay, so let's add, let's ask our next one, next poll question. Would you use the automatic matching feature? Yes. No. Or I'm gonna wait. Yeah, I should put on there only when Dan and Spot say it's okay too. That's right. Yeah. All right. So desktop updates. Hey Dan, don't forget to talk about the desktop updates, all that. Okay good, Thank you. Yeah, got you back. So I noticed this the last time I did a desktop migration is now you're gonna have some choices of what you want to bring over. So you can choose to migrate only accounting data or only payroll data, or you've got your list and balances as well as everything, so you, can now get a start to get a little, granular on the kind of data. You still don't have the option to choose a date right there on the migration screen and, choose that date. Because there's a lot more to go that goes into that than just choosing a date and time. But you can now choose migrating only just the accounting data, if they're gonna do payroll elsewhere, or if they're just doing payroll and you want to keep it separate you can certainly now do that as, as well. A couple other superficial things with with QuickBooks is, now, real quickly though, before you jump off that, just to close this one out, what was I found confusing on this is when I dove in deeper to try to get more information, it was also talking about if you've got a disparate QuickBooks Online payroll and you still have the desktop stuff and you want to get the stuff to all match together, they started to explain like this round tripping situation. I think the point there was if you had QuickBooks Desktop, you were using payroll for a while there, but then you got set up a whole different standalone QuickBooks Online payroll, and then you had data there. How do you make it to where your books actually has all the payroll stuff inside of it also? Was is that part of the functionality of this or, I always thought I always look at it from the, perspective of whatever's in the desktop file will go out to QuickBooks Online. Okay. And, that's the, desktop file is the source of truth. Yeah, if you are using QuickBooks online payroll with your desktop which is, still, which is a possibility, and you can export those transactions into QuickBooks, desktop. I, I file, those transactions already exist, but the payroll's not set up that accounting data is gonna, there's no need to combine the two right at that point. Perfect. You could at that point, I, imagine you could migrate your accounting data into your QuickBooks Online payroll, but then that's gonna be a little bit weird. I, no, I, okay. I remains to be seen there. That, that, that sounds like a mess waiting to happen. I was worried about it. So we'll report back maybe a little later on it. So what those other features do file first, don't overwrite your data. Yeah. That's for. And then you, the, it's recertification time, right? You had other desktop ones I'm supposed to remind you that I cut you off on. What were those? Oh, some small superficial things on all reports. Now in QuickBooks Desktop, there is a search feature. So you can if you're looking for a specific dollar amount or, something on there, you can search within the report itself as well as something that I had noticed, but I told my client about it and he's not seeing it. So I'm, I still need to double check. But, and I, checked everywhere. I even wrote a blog article about it because I was so excited about it because I, thought I found like something that was missing. But when you have a bill of materials so we're talking about inventory with assembly items, and you have a bill of materials with a subassembly as part of the bill of materials, like if you're. Creating a computer building a computer, and you have to build something that goes into the mainframe of the computer or a bicycle, and that, the, shifter assembly going into the, en, the entire assembly item. When you print your bill of materials, it only shows that first level typically. But a lot of times, and especially in this client's case, components of all of the, sub assemblies and see what's, what does it take to make one complete finished good, to make sure that they have enough on hand, right? So printing that bill of materials was a little problematic because it would only print the bill of materials and these, the sub assemblies. And they had several nested assemblies. And in 2024 latest version. I was able to have a, subassembly be a bill of materials, and then when I, when you print a shortage report, like you make a go to, a build, make it pending, and then print a the shortage report, it printed out all of those, those components. So I was really excited about that, but they're still having problems with it, so I still need to make sure that's that's the possibility. They may have multiple nested assem, nested sub assemblies, but I was really excited to see that at least one level deep you could see all of the components. And then every list is now searchable so you can find within the list as long as you're on the, latest release. There was in the Facebook groups and I don't have the, post of that, but, there was a, breakage in, an update it looks like. One release of release 13 for 2024 broke, some memorized reports but they did fix that. Assuming that you never had this problem and it's now safe to update to, to the latest version without fear of breaking your memorized reports. Cool. Dan, did you close the poll? If you wanna do that and as I talk real quickly about the Sure. Research stuff here. Recertification is about to open back up April 28th. Means my good friend Linda, while I'm flying back, will be getting her certification done so she can be the very first person as always in the world. And it's open from April 28th through June 30th. Now, something cool they're doing is. Every week during that period of time, anybody who's completed their recertification will be entered in for a drawing for a$250 Visa gift card. Which means if you do it at the very beginning, your odds are dramatically better since there's a lot of us that procrastinate to the very end. So you have a better chance to be drawn for that Visa gift card. The exam is supposed to cover additional information this time on the recertification portion of it. Of course QuickBooks online accountant, the enterprise suite stuff, as well as Intuit assist and the normal, a lot of the other stuff as well. So there was a question also in the chat here in Zoom, so I'll draw attention to as well. QuickBooks level one is, it's basically equivalent to what was the basic before. Level two is equivalent of the advanced. It's so they can continue to add different levels with different things and make it a little bit since they use the word advanced on everything nowadays, they want to, one last thing to call advanced. Yeah. Is, a good thing. They'll come up with two plus next, so that'll be good. 2.1. All right. I think it's worth staying recertified, Lynette. I'm gonna say it because trust me, if you don't recert and you have to redo it all again, it's horrible recert. So some things that you noticed there about am I going crazy? Yeah. I feel like every time we should have this little slide up and we can just tell people about bugs and glitches that we're experiencing or hearing about. So recently search function was just absolutely horrible. If you were just trying to use the magnifying glass, you do a quick search, it wouldn't pop an answer. You'd have to go to the advanced area, then you could search and you get stuff to pull. Correct. And then bad URLs were getting created all the time and giving us this smoking machine, basically. Dan, is that your computer there? I think so. With, everything that's going on here. All right. So I wanted to talk about this this Facebook post. I'm trying to summarize it'cause there's a lot to read here. But basically what was happening is that the, client wasn't signed up for, QuickBooks payments. They sent out an invoice QuickBooks, gave the client the option to pay via a CH client did, and they got charged. The, fee, which that is, that's a thing, right? So even if you don't have, if you have payments and you disable all of the payment options when it sends the invoice, it will offer the customer to pay by a CH assuming that they agree to the fee, which is the not, the ProAdvisor rates, it's the standard rates, which is 1% of the transaction, no cap. Okay. So they got charged$25 for a$600 invoice. That does not seem 1%. Just no doing the math here. I think they paid by credit card, but that may be the case. Or maybe there's a minimum, I don't know, maybe like four. It's actually almost four point. Yeah, two 5%. If I'm gonna be nerdy then, but then what happens is, now this is a proof of concept, for, QuickBooks to come back to the, client and say, look how easy it was to get paid with QuickBooks payments. And now they didn't want it they didn't wanna sign up for it, but in order for them to receive the funds that the client decided to pay for, they would have to pay or they would've to sign up for for the service in order for them to do it. Now, in this case, they would get the full$600 because the client is paying the, fee. It's a, it's an interesting way to position this service, I think is the nicest way to put it. Matthew, you were shaking your head. You did not agree that this no. I'm, really disappointed on this. I see, I guess I see where they're coming from. I've heard about this before. First time I heard about this was, from a, good friend that was experiencing this they had merchant processing. The person had merchant processing set up, and for some reason it still pushed through and was asking them if they wanted to, did the whole$25 thing and gave them this thing. Do you wanna do this? I know for sure that person that sent the invoice. Was set up with Intuit Merchant Processing at the time, and I tried finding out what this was about back then and couldn't find it anymore. Talked to Intuit support, they couldn't tell us. I don't like this part. Yeah the, concept of it is have your client pay your fee instead, from my understanding, there's certain states you can't even legally do that. And so I wonder if they're taking, if they're paying attention to that, if they're trying to do that as well. Yeah. That just makes us look bad, especially if we don't know about it, like we're trying to charge our client. That's exactly, and I know that's a common question. Like I'm getting annoyed with the amount of convenience fees that I'm now having to pay because people are doing that. And, itemizing out the, transaction fee, for, payment processors and, calling it a convenience fee. This is one way to address that. You can turn off all payment options and the, client would, should be able to, opt into paying the fee. So to them it's a convenience fee, but you're just not getting any of the, so Dan, does that mean you took off the last polling question? We're not gonna do the convenience fee for this episode. Maybe not. Okay. But we did this at the workshop. We did a, a, se a session on this a little over a year ago. But this is talking about, how Intuit is creating half creating payments accounts and giving people the option to be able to pay and pay by that. And again, this then puts those funds in in a holding bin. Because if they it's, almost like you have to, I. Be ahead of Intuit. Yeah. When this happens and communicate that because without them, knowing that what's actually gonna be happening and of course this is all for new accounts, right? So this will not be something that a brand new person to QuickBooks would be aware of. Even if they aren't, but they're going to get they've set up the the payment account and have set it up so that when the customer pays, then they have to finish setting up the account and applying for it in order for those funds, to be released. Which, if the company is not approved I don't know what happens to those funds. Do they give it back? Do they refund it to the customer? Is that a headache? Let's say they're in the adult industry or one of the other industries that don't that the QB payments does not support. Who knows? But by doing it this way that bypasses you as the accountant. And as what if it bounce? What if it bounces? I'm sorry, I just thought of this. What if the payment bounces or something, right? They charge that fee. Are they gonna still take the, and like you didn't ask for it to be set up that way. Are you gonna still get your money? Are they gonna take it back from you and then you like Yeah I would not wanna be on the other side end of that call. If that's the case. Okay. But if the customer pays QuickBooks user needs to finish applying, and they're gonna get, at that point, the MSRP rates, which are higher yeah, there's no cap on the on the a CH fee. And if you're signed up for revenue share then you won't get any of that either. Whoops. Nope, that audio worked. Okay. That audio worked, but apparently there's no audio in the, tags video. But a lot of people don't even know that there's a revenue share option. So we wanted to talk a little bit about that. With payments you get a 20% revenue share for three years. It's only for payments. You can also do QuickBooks online subscriptions and get that. But the good news is, with payments the clients gets the lower ProAdvisor preferred rates, right? So that's, and there's no cost if they never use it unless they have disabled all. All of those things. And we, talk about the other situation, but if you go into your benefits inside of the QBOA under ProAdvisor you can see under the discounts for your firm, QuickBooks Payments. There's the revenue share portal or get the discount. You can share that with your client. Other cool thing that I noticed is that if you are enrolled into this revenue share program, when you create a QBO subscription directly within QuickBooks, you can opt them in at your rates. So it's already set up for you to be able to partake in that revenue share option with with payments. We do have a payments resource over at School Bookkeeping. It's a com. It's a course we tried to make to scour the web and put it all in one place. And it's totally free. Because I do like the idea of QuickBooks payments. I don't like this idea in QuickBooks payments with what they're doing, but, GI Joe said, knowing's half the battle. And if you don't wanna refer clients, you can refer through us. So it's yep. Appreciate that. We'll do that. We are a little, running a little over. If you can stay, great. If not, we know you gotta, we, it's a busy day. Yeah. It's just taxes. Don't worry. You got extra time. I'm trying not to say anything political. Okay, so I use the QuickBooks accountant tools today to write off about a hundred ar invoices to bad debts. I had to close books set to 12 30, 20 24, so I could still record my year and adjustments 2031. So after writing all of those invoices off, I found that they were all written off using the original dates of the invoices. So is there way to basically, yeah this is, one of those things that, it's, one of the nuances of of, QuickBooks online with the accountant tools, right? When you go to write off invoices, the way that QuickBooks does it inside of QuickBooks Online accountant is, instead of making a transaction today to write off that ba, all of that bad debt what it does is it goes to each individual transaction and discounts it to bad debt. And that means. That every transaction is now modified on the date that it was cr that it's the transaction date instead of the date that you're actually recognizing there's some wind going on. It's a ghost. Yeah. It's the ghost of tax passed. Yeah. The ghost of write-off past just passed through here. I think we had some kind of dust devil or something. Linda, are you okay? Because she's right, she's south. So what would you do in this instead of using the write-off on those? I, would assume probably what I would do is create, it's hard because you can't, you'd have to do it by per customer. And you could do an adjustment in the current year doing like a, an adjusting you could do one big journal entry, right? Since you can do multiple ar, and could yes, offer credit that way and then close'em all out to one place. And, but you'd have to go back and apply the amount to each of the customers after you do each line would be providing the credit to clear out the for that customer. Creating credit memos would, probably be the, most preferred thing to do. But to your point, yes, you've gotta go in and apply those credits so that those invoices don't show as open. Yeah. So yeah, going in and doing a one big journal entry would probably be the, more, the simplest one transaction to do because you're gonna do it all in one day. You'll be recognized on that day. You would just still need to go through all of those open invoice and apply. Those still have to receive the payment against it. Correct. All right, so our last polling question,'cause we're coming in for a landing here. Was this helpful?'cause we certainly want it to be helpful and learn something new and we appreciate you joining us here today. Matthew, any, closing thoughts? Yeah, actually, so Linda put in the Facebook feed. Could you fix the dates with right tool that would, I don't know. It'd be a good suggestion maybe tool could do something about it, but it would be find, it'd be, finding'em would be hard because they're not going to, you have to go all the way back and find just the right ones. So I think that would be more challenging. Oh wait, no, what if you went into the ledge? Maybe this, she may be onto something. If you went into the bad debt ledger with Right tool, you could batch update the dates possibly inside the bad ledger and push those dates forward. Possibly Never tried it. I'd have to see if it's a possibility, but, you're talking, about if you if you went through the write off tool and it then discounted No, go to the chart of account to where it got pushed to instead. Isn't it going to a bad debt expense? Yeah. So if you basically went through a bad debt expense, chart of account, go to the actual ledger, not just the report. Oh. And by small small, snag, there is that an expense account doesn't have a ledger. That's stupid. Okay. You could filter the ledger, nevermind, there's a way I was speaking of paying all the invoices, but you still have to do payments by putting it to some other, balance sheet. I was trying to fix the mess though, then using to. If we had to fix the mess, the thought was if you, maybe if you went into the bank ledger or whatever, you could still filter down to bad debt expense there on your main ledger to, you gotta find, basically you gotta find the pattern in your main bank ledger. When you do that, shrink it down. Then you could probably use right tool to change the date. I forget who was asking it. If you wanna reach out, we could try to jump on Zoom and see if we can mess up your books even more if you want. So that's awfully nice of you. As always, we have if, you don't want to talk to Intuit or you wanna bypass you want to talk to us directly at School of Bookkeeping, we have quick answers for that. It it's actually been interesting over the last couple weeks. The quick answers have been quick. Normally there's a lot of research and things like that go into them, but lately it's been how do I do this? I give'em an answer. They're on their way and they don't have to approve anything of who they are because they can't get to me without, passing that, hoop. You can always check that out there over at school of Bookkeeping. So we really appreciate you joining us here today. Next time we are gonna be having the key all about keyboard shortcuts. Ooh. So we'll be talking about shortcuts'cause who doesn't like a good shortcut? Especially both of us with with our a DD squirrel brains, we like to take shortcuts. Yep. Love it. All right, so we appreciate you hanging out a little extra time with us and we'll see you next time on the QB Power Hour. And hope everybody has a great day and we'll see you next time. Bye guys.