Updated: Jul 18, 2020
These new features in QuickBooks Online might be just what you need to work more efficiently.
Embedded Online Bill Pay
What It Is: QuickBooks has started the launch of its new embedded bill payment feature, Bill Pay by Melio. It is being rolled out in phases to Essentials, Plus and Advanced subscribers. Want to know if you have it?
Go to + New>Pay bills. Do you see "Schedule payments online" as one of you options in lower right-hand corner? If so, then congratulations! You have access this new feature. Watch this video for step-by-step instructions on how to set it up.
What I Like About It: Something I really like about this new feature are the options available for both the payment method and the delivery method.
Payment Method Options
Credit Card (2.9% fee)
Delivery Method Options
Direct Deposit (1-3 business days)
Check (5-7 days)
Dashboard Cash Flow Widget
What It Is: When this widget is activated in QuickBooks Labs, it is placed on the main dashboard and provides a real-time view of your current cash balance, along with a historical comparison of money in and out across all your connected bank accounts.
Navigate to Settings > QuickBooks® Labs > Cash Flow Dashboard Widget
Turn it ON
Refresh the page and the widget appears on your Dashboard
What I Like About It: The new Dashboard Cash Flow widget provides a clear picture of your cash flow so you can make smarter decisions about how you spend your money.
Reconciliation Statement Auto-import
What It is: This new feature automatically imports your monthly bank and credit card statements into QBO as a pdf. You will find the statements on your reconciliation screen. How amazing is that? It is being rolled in phases and, so if you don't see it yet, you will soon.
What I Like About It: This new feature is a great time-saving feature. You no longer need to log into your online banking, wait for statements to arrive in the mail, or use a third-party app to extract the statements. They are right there waiting for you in when you are ready to reconcile your accounts.
Downside? Not all banks are supporting this new feature. Right now there are only about 1,500 that do. But...they are working quickly to add additional banks and, hopefully, yours will be on the list.
Which of these new features are you most excited about? What feature would you like to see added to QuickBooks? Submit your response here.