August 13, 2024 • 58 mins
Michelle and Dan discuss the most recent updates to QB Online and tackle some common questions that occurred in the QB Power user FB Group
QB Power Hour is a free, biweekly webinar series for accountants, ProAdvisors, CPAs, bookkeepers and QuickBooks consultants presented by Michelle Long, CPA and Dan DeLong who are very passionate about the industry, QuickBooks and apps that integrate with QuickBooks.
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 to QB Power Hour
00:29 Catching Up with Michelle and Dan
02:35 QBO Updates and New Features
03:51 Meet the Hosts: Michelle and Dan
05:26 Housekeeping and Webinar Details
18:02 ACH Funding Changes Explained
46:22 New Functionalities in QuickBooks
57:36 Conclusion and Farewell
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Dan DeLong (00:30):
welcome to another QB Power Hour.
Michelle, how are you?
It's great to see you.
How are you enjoying retirement?
Michelle Long (00:40):
I am enjoying it.
I am really enjoying that.
Except I did see the call forspeakers for Scaling New Heights
25 come out.
It was sad not to be applyingfor that, but hey, it's all so
cool.
I don't have to come up with allthese ideas that are going to be
rejected.
Dan DeLong (01:02):
How many what was the most sessions you've done?
You're, there's so many trainingsessions that you've done at one
time.
Michelle Long (01:13):
I've done easy five or six one year.
Oh my
Dan DeLong (01:16):
Lord.
Michelle Long (01:17):
I know you don't even get to enjoy the
conference.
Yeah, you don't get to go andenjoy the conference when you're
presenting every day.
You're always nervous every day.
So it's nice to be an attendee.
Dan DeLong (01:27):
It's gotta, it's gotta be butterflies all the
time.
Michelle Long (01:31):
Yep.
Yep.
Hey, I'm good to see you today.
Glad to see you.
And how is things going here?
Like total scriptiness?
Dan DeLong (01:40):
Yeah, since since I'm not really kissing my wife
lately I've decided to let the,beard go, and yeah, my wife had
an ankle fusion, and thanks toyou, Michelle for sharing a lot
of the support network she'sbeen really, it's been really
(02:00):
helpful, but yeah, she'sdefinitely a patient.
My alarm to give her someibuprofen just went off at the
same time as we're going livehere, but my daughter in law is
upstairs so she can assist withthat.
(02:21):
So
Michelle Long (02:22):
yeah, anyway.
Yeah, she needs those painpills.
Dan DeLong (02:27):
Exactly, yeah, as you can attest by being being
non weight bearing for a seriesof period of time.
okay, so we have long awaitedfor QBO updates.
We've been kicking this one downdown down the pike with other
things that have been coming uplately.
(02:50):
So we're, we want to make surethat we, have every so often
It's a compilation of thingsthat have been going on with
QuickBooks online and just takea pulse check of the new
features.
And those types of things we,ended up with Matt having quite
(03:11):
a discussion about the pricingupdates, which kind of pushed
the new features to, to thisone.
This is what we're going to talkabout mostly today is, just some
of the.
The things that we've seen inthe, know webinars that have
come out because QuickBook doesput out a monthly what's new
(03:35):
either a webinar or at least ablog post of new features and
updates reasons to justify theirpricing increases year over
year.
So we, we do wanna unpack someof those things as well as, A
pretty hot topic I think iswithin the facebook group and
(03:57):
we'll go through that butmichelle go ahead and Introduce
yourself for those that are justjoining us for the first time
and don't know who the heck isMichelle Long.
Michelle Long (04:08):
Welcome everybody.
Owner of Launch for Success hadmy practice for long time 30
plus years.
Recently announced my retirementis still hanging around to help
out Dan and keep in contact witheverybody and everything.
I've authored five differentbooks.
You can check those out onAmazon with a trainer for Intuit
for a long time from about ayear.
(04:29):
Until they sunset the trainerwriter network and just love
being around and, chatting withyou all and keeping up with
what's going on in the Facebookworld.
So nothing about me, Dan, goahead.
Dan DeLong (04:43):
All right, my name is Dan DeLong and this brand new
slide courtesy of MatthewFulton.
I appreciate him readjusting andlaying out his OCD took over and
made this slide a little,purification, but the owner at
Dan Witt School of Bookkeepingworked at Intuit for nearly 18
(05:03):
years and co hosting today.
As well as the workshopWednesdays over at
schoolbookkeeping.
com and doing some tech editingfor the QBO or the Dummies
series of books for QBO andQuickBooks All in One which is
what I'm going to be doing therest of the day.
They are under the gun withregards to the publishing, so we
(05:24):
need to get those, edited forthem.
a little bit about the detailsabout QuickBooks The QB Power
Hour webinar series.
It's every other Tuesday at 12noon.
And then beginning this one thiswebinar and the first webinar of
each month.
Our friends at Makers Hub, theyhave graciously offered to be
(05:46):
the CPE sponsor for the QB PowerHour series.
So the first one of each monthwill be eligible for one hour of
CPE credit.
And in doing so Ted is lurkingin the background just to make
sure that he's participating forfor the for that webinar, but if
(06:09):
you need these the, slides I didput the the slide link in the
chat.
So if you can, if you want tograb those those slides there,
but they're always atqppowerhour.
com slash resources, as well asrecordings, podcasts, and other
resources as well.
A little bit of housekeeping, ifyou do have any particular
(06:33):
questions about things that weretopics that we're talking about
here today, please put them inthe Q and a especially
especially today, because I'mall disheveled because normally,
if you can tell by thebackground, I'm in a different
room.
And I'm at my son's house,delegated to the, basement his
game room that he has here.
So I'm, it's really warm withall the computers that are
(06:56):
running here in the background.
But thankfully I don't have toworry about wifi because that as
a, as an online gamer, youdefinitely need to have your,
speed.
So I don't have any, I shouldn'thave any glitches or lag or
anything like that because Thatwould be horrible for an online
gamer to have.
But everything is, is, in a newsposition for me.
(07:20):
So I appreciate if you would putquestions in the Q and a, and
then comment in the chat to makeit a little easier for for all
of us to follow along and thenof course we have links there
for the handouts as well.
So new for the for, 2024, we aresimulcasting which reminds me, I
(07:40):
need to.
Send that over to the Facebookgroups and everything.
But if you are watching in theFacebook group, there is a QR
code there in order to allow usto see who you are when you when
you comment as well as ourstore.
So you can always check out theQuickBooks Power Hour swag at
(08:03):
the, store there.
Alright, so with the CPE credit.
Again, our friends at Makers Hubare, being our CPE sponsor.
There's their CPE number thereas well.
You will be eligible for onehour just to make sure that you
answer the questions in thequeue, I'm sorry, in the poll
(08:24):
questions when we launch thepoll questions in order for you
to receive credit or CPE credit.
You do need to participate inthat manner.
And those poll questions will bespread out throughout the
webinar as well.
Our agenda today is really justto unpack some of that
QuickBooks news and updates thatwe've had over the past quarter
(08:48):
or six months or so since we'vehad one of these in the, past.
And we'll talk about some of theFacebook group, updates and the
issues that we've seen in there.
So our first poll question isnot on my screen.
Let's see, do you need CPE, forthis webinar?
(09:10):
And while you're answering that,I'm going to share this to the
Facebook group.
But Michelle any, this is weirdbecause you're are, you're
retired.
So what do we talk about while,we're, while they're answering
the poll question?
Michelle Long (09:33):
I just came back, something happened and it had to
reconnect me.
So what did I miss?
What was the
Dan DeLong (09:42):
question?
I'm just launching the firstpoll question.
And and it was wondering what wetalk about while we're, did you
see anything in the chat or thecomments that That we want to
talk about while people areanswering this first poll
question
Michelle Long (10:00):
Not yet.
I did not see anything thistime, but we did want to thank
makers mark for doing cte forthis
Dan DeLong (10:13):
I was talking with ted and maybe that's their
slogan is like With by usingmakers hub, you won't need
makers mark
Michelle Long (10:21):
Yep, there you go.
I typed it right in this Thechat I did thank him correctly
in the chat.
I apologize It kicked me out andrebooted and that kind of threw
me off there.
Sorry about that
Dan DeLong (10:36):
The struggles of doing a live webinar, that's for
sure.
I
Michelle Long (10:39):
tell you
Dan DeLong (10:40):
Yeah, okay.
It looks like most people haveanswered the first poll
question.
So i'll go ahead and stop thatAnd we'll move on here Okay.
So a little bit about the QBpower users Facebook group, you
want to talk about some of thehistory behind it with you and
Hector and And those types ofthings
Michelle Long (11:01):
well we created the facebook group because we
would have these great, webinarsand things and then we want to
finish the discussion and peopleYou know wanted to continue
talking and chatting with oneanother and all that stuff And
so we created the facebook groupand we kept it in closed groups
we didn't just let anybody intrying to keep the spammers down
(11:23):
and Also trying to keep theclients out so we could discuss
things without clients seeingeverything You hopefully I mean
they still can slip through thecracks so you never want to post
anything online Assuming thatyour clients would not see it
always assume they can't anywayIt is a place where we help one
another Where we can go out andsay has anybody ever used this
(11:46):
app or I need an app for this oryou know What are your thoughts
on this app or?
I have this problem.
What do you suggest?
And it's a place for people toask help hey I'm new getting
into e commerce but I got thisclient what does somebody
suggest?
It's a place for us to help oneanother we all have to learn and
(12:09):
get started and we all You knowneed to help one another one
time and that's the thing that Ihave always loved is, you know I
started my practice Is From mybasement back in the day where
we used to have suite a forattic and suite b for basement
Because you were embarrassed totell people you were working out
of your home, and it was reallytough because You were on your
(12:34):
own and we had to go to chamberluncheons and go to meetings and
stuff And you didn't talk aboutthe fact that you worked from
your home So you didn't haveyour peers to bounce ideas from
and it was so much harderwhereas today we have You know
social media and we have theability to network with our
(12:56):
peers all over the place Andthat's where you know going to
these conferences scaling theheights or whatever, and being
able to meet people in reallife, being able to meet them
online in these Facebook groups,you get to know other people,
and you meet people that you cannetwork with, so you can bounce
ideas off of them, and you canthen have a group of peers.
(13:18):
So you're not totally alone.
Dan DeLong (13:20):
So you can
Michelle Long (13:20):
be like, Hey Dan have you used makers hub and
what are your thoughts on it anddoes it work for you?
And is, you think that would bea good fit for my client?
I think I'm going to reach outto Ted and see what he can do to
help me.
You know you can exchange thosekind of ideas with people so
much easier And so this facebookgroup has been a great support
(13:41):
system for a lot of people Onthat have their own firm or a
small firm to help each otherand the idea is when you need
some help or have a question youpost your stuff out there But
then you turn around and whenyou've got a few extra minutes
some time and you want to sitdown have a break and You know
drink your coffee or your teathat you sit down, maybe you
(14:04):
answer a couple of questions andhelp somebody else as well.
So it's all about us helping oneanother so like you posted up
there, people helping people,you get help when you need it,
but you also turn around and youhelp one another.
And initially, I know I, when Ifirst started and Hector, who We
(14:24):
put a lot of time into it, and Iknow you and Hector still do but
a lot of it is self sufficient,where people really do a lot of
it themselves now so I thinkthat's great.
Dan DeLong (14:38):
That's one of the things that I've noticed lately
I felt initially, hey I gotta,go in and make sure everybody's
given getting, the rightinformation and those types of
things, but now, It's one ofthose things where I'll see a
post and I'll go and I'll lookat the comments and it looks
like it's already been answered.
And that's, what's reallyamazing about this community and
(15:00):
this Facebook group is that, thewillingness that, that people
are, have that have to be ableto help each other, it is an
election year and, Emotions arehigh, I guess it's probably the
nicest way to say that, andsocial media isn't always the
(15:21):
best place, to air thosegrievances sometimes and
sometimes that comes in, becausewe are human after all, and,
that's that's just one of thethings that we want to keep in
mind when we're When helpingeach other is to keep it
(15:41):
solution focused rather thanbringing up more problems but
we'll definitely see some of theproblems that have been, brought
up over, over the course of thepast six months as we go through
this.
And one of the things that we'vebeen trying to do with, with the
Facebook group, because peopleare putting in so much valuable
(16:04):
time is giving back, to the tothe, community in the world at
large because I've seen somereally great answers.
And we'll, talk about one ofthem today from, Alicia Cat
Pollock, this is somebody that'snot they, are, a rock star in
(16:28):
the, QB, QB community,accounting community, and gave
gave an answer for a lot ofpeople that have just been
struggling over the past six,seven weeks, and we're trying to
figure, I'm trying to figure outa way to be able to.
(16:48):
Give back to the world.
When you see something that issolved and then information Is
so valuable to the community orat least the original poster of
their question, and it's not thefacebook group is not designed
to bypass into it but sometimesyou're just not able to get the
(17:11):
right answer, that first timeand working within the community
sometimes that, that, is afaster answer but there's some
value in that and we want to beable to, give back to
charitable, charitableorganization.
We're trying to figure out a wayto operationalize that.
(17:32):
Like, when I do see that it isan answered question or the
issue is solved, maybe puttingin a way that donations can be
made whatever you feel is thevalue of the answer that you
were given, hey, give that backto to your charitable
organization.
Charitable organization ofchoice.
(17:54):
Ooh, can't say that.
But this way it'd be peoplehelping people.
All right.
So let's talk about our agendaof things that we're going to be
talking about today.
The biggest hot topic that wewant to talk about, and
hopefully this doesn't take thewhole webinar again, because we
really want to get to theseother things too but the ACH
(18:15):
funding change with recurringtransactions we want to talk
about.
Why that happened, and and, whatelse what options are,
available.
Importing journal entries, usingproducts now on the, bank feed,
being the ability to textinvoices now texting a link
(18:37):
directly from, to yourcustomer's phone.
Payroll corrections.
Hey, we've been dying for thisfor a long time, so we want to
talk a little bit about someadvancements in correcting
payroll instead of QuickBooksOnline.
But And finally, role based firmand client access in QBOA.
(18:58):
We'll jump into that.
If you are unaware, there was achange with regards to ACH with
regards to, QuickBooks OnlineACH payments.
And we'll we'll try to unpackWhat happened, why the change
(19:18):
occurred, and and steps to moveforward, with regards to that.
But around mid July startedseeing a lot of posts about,
hey, there was a, delay in ACHpayments.
Done through QB QB payment andstarted seeing a lot of fervor
(19:41):
around that, it usually is nextday funding, right?
Once you have a QB paymentsaccount and start collecting
payments, and once that firstdeposit.
Is reviewed, into it switchesyou normally to next day funding
(20:06):
after that's done, right?
This caused Some understandably,some surprise and confusion and
then on top of that there was arecent pricing announcement with
regards to qb payments, whichalso added, to the confusion.
So let me try to unpack You thenormal situation, what would
(20:30):
normally happen.
So when you have a new accountfor QuickBooks payments,
normally you're set at five dayswith regards to the first
deposit, whether it's creditcard or ACH.
And the whole reason behind thatis, They don't typically there's
no limitations specifically forthe dollar amount that you're
(20:55):
that you're able to charge andprocess through through QB
payments.
So it needs to be reviewed, andmonitored, right?
So when there is a credit cardpayment or DCH, They have to,
there's a big risk when it comesto money movement and they want
to make sure that the, thateverything is working properly
(21:18):
in the past.
If you charged more than, or ifyou said that you charged more
than 10, 000 in a month you hadto, Do a lot of underwriting
steps, right?
You had send ins, bankstatements to prove that you had
the funds because when it comesto payments in any payment
(21:39):
industry, there is, there arethree parties involved.
There's the there's the chargingthe customer there's the
receiver of the funds, and thenthere is the payment processor
that's in between and thatpayment processor in between
takes on some risks when itcomes to moving money, from, one
(22:01):
bank or one financialinstitution to, to another, and
they want to mitigate the riskby making sure that those
transactions are going to flowfrom customers to, To to the
source and it goes depositing abank account.
So the way they solve that and,avoided a lot of the headaches
(22:22):
of having to upload all of thebank, six months of bank
statements and those types ofthings is is by doing this
review process, for newaccounts.
So they review the transactions,which unfortunately, if you're
charging every day that kind of.
Makes a logjam, and then theyreview that first deposit, and
(22:45):
then everything flows in.
And then they switch things overto next day deposit, which the
next day is based off of 3 p.
m.
Pacific time cutoff.
So as long as those transactionsare done prior to that 3 p.
m.
Pacific time cutoff, then creditcard, PayPal, Venmo, ACH, with a
(23:09):
caveat of through e invoice.
So you send somebody an invoiceand they pay and enter their
banking information.
That way that will be next day,and it is still that way.
You can see what your fundingtime is is by going to the gear,
(23:29):
account settings, and payments.
And then you'll be able to seethe deposit speed right there.
This is actually my business, inthere and it, that for bank
transfers, it says one to fivedays, so that's a, that's quite
a spread.
And I actually did get an ACHpayment.
(23:50):
I sent an invoice and rightbefore right before the power
hour, I got three emails.
One saying it was money's on theway and then another one that
said it was instantly available.
So it, ACH, and they were paidby ACH.
And, so that, that tells me thatwhen you send it in the e
(24:12):
invoice and they pay throughbank, that is not this funding
delay that we're, referring tohere today.
I, wanted to put a an article inhere about the ACH basics to,
give an idea of what happens, inan ACH process.
(24:35):
So as it flows through herecustomer there's, two there's
two options when it comes toACHs.
One is a push where you'resending money and our friends at
Makers Hope can talk all aboutthat.
And then there's a poll whereit's coming from someone's bank
(24:55):
account into, your own.
So the ACH process is you seesome of these icons here and
there's a link for for thearticle there.
One thing, the main thing I wantto point out here is at no point
do the two banks actually talkto each other.
The way I had always describedit to, to, folks is that the ACH
(25:20):
process is this game oftelephone where it goes to the
next the next step and then itcan basically take, hours or
even days to realize that thefunds didn't actually get
deposited into the, destinationbank account.
(25:42):
So there's a delay, right?
Basically, there's a delay andthat's why this ACH delay
actually occurred is becauseIntuit, again, wants to go back
to that, less risk option ofmaking sure that the destination
bank account received the fundsand it takes a lot of, signals
(26:07):
going back and forth.
It's not as instantaneous.
As we would, hope, becausethere's actually files involved
here being moved between threedifferent financial
institutions.
One is the destination, one isthe receiver, and then the other
is the payment processor inbetween.
(26:28):
And when we're talking about QBpayments in ACH, that payment
processor in between is to itsfinancial institution that could
potentially take on the risk ofa chargeback or Any of the 20
different rejection codes thatcan potentially happen with it
with an ACH wrong account wasput in fat fingered or the
(26:52):
account was closed or there'sall sorts of different rejection
codes when it comes to Why?
Why it failed but because ofthis process it it's very Not
necessarily archaic, but it isit does have some flaws built
into it and when somethinghappens in this process, then
(27:18):
it's basically got to start allover with regards to getting a
new a new funding, option.
Another thing I wanted to pointout is that next day does not
equal instant.
So there's a, there, this isalso creating a little bit of
confusion is because next dayand instant funding are two
(27:42):
different things.
As soon as the transaction ischarged for in, if it's
eligible, it's eligible forinstant funding and you can set
that setting but there's acaveat, right?
There's a, there's an additionalfee.
You see a lot of these with,like Melio and Bill and other
(28:03):
things that, that, that will bewanting to send you funds and
you can say, Hey, I can get itto you faster, but there's going
to typically be a 1 percent orsome kind of charge.
To get that money faster becausenow that intermediary financial
institution, whether it whoeveris processing the ACH is now
(28:29):
incurring the risk of somethinggoing on, going wrong.
They offset that risk, chargeback fees and things that comes
back, come back from the bank bylevying an additional fee.
Now in QuickBooks payments, theinstant fee is 1%, but it is
(28:51):
waived.
If you're using QB checking asyour deposit account.
So if you're using theQuickBooks Checking bank account
I think it's funded by or theunderlying financial institution
is green.bank, or Green Bank.
Do I, I'm not sure there's agreen in there somewhere.
(29:14):
But that fee is waived if youare use, if you use instant
deposits.
And you're using QuickBooksChecking as your destination or
funding account, and then if youhave your other bank accounts
linked to that, then you cantransfer funds to that, or you
can use the envelopes and useuse the, built in functionality
(29:36):
associated with that.
That is, that's a, that, that isa unique or a different
circumstance than the next dayfunding that we were all used
to.
Alicia Katz Pollack, we want tocall her out give her, shout her
out, give a shout out here toAlicia, she shared the answer as
(30:01):
to why this is all why this allwas taking place in her her
group is training for QuickBooksusers there's a link there for
it, you can join that group toreally find out what, what was
happening here, but I summarizedit here as well.
Recurring ACH transactions.
This is where things really are,the caveat to all of this,
(30:27):
right?
So when you create a re arecurrent monthly recurring
transaction, the, it's going tobe the banking information is
entered by you as the processor,not by the bank holder, right?
So that is in and of itself, ahigher risk transaction because.
(30:48):
You have to either send somekind of form, an authorization
form to the, customer assumingthat they are typing or entering
their banking information.
God forbid they write it down.
Lots of, different numbers looklike other numbers, especially
in certain people's penmanship.
And then they got to send thatinformation back to you.
(31:11):
All of that could be, A riskybehavior, right?
If they're sending that overthrough, email or some non
secure method of getting thatinformation back and forth.
But what's going to be happeningis that we talked about this on
a prior QB power hour about thethe new invoice template, love
(31:36):
it or hate it.
It's there.
But the new invoicing templatewill change that process when it
comes to monthly recurring ACHtransactions, right?
So instead of, that process ofyou entering the sales receipt,
putting in the bankinginformation inside of your QBO,
(31:57):
saving that as a recurringtransaction, when you when you
invoice them, they'll have theability to save and store their
banking information.
On their end, right?
So that is less of a risky moneymovement behavior than than, in
(32:18):
the past.
While they're working on that,they changed the the funding
time for recurring ACHtransactions to be the default
funding time, which is aroundfive days.
Because again, we need thattelephone game of, hey, I sent
(32:39):
you money.
Did you get it?
Yeah, I got it, so on and soforth down the chain until it
actually gets deposited and allthat takes about five days.
Incidentally, the e invoicespaid by bank or ACH do not, this
is not part of this
Michelle Long (32:57):
problem
Dan DeLong (32:58):
That's been identified.
This is only dealing with ACHcharges that you enter in the
banking information, inside of,QBO, whether it's a recurring or
you're receiving a payment andputting in the banking
information, those are moreriskier than if the customer
does that, because I, again, Igot I got a payment paid by ACH
(33:23):
today, and it's funded already.
So the challenge here is thatIntuit.
In its wisdom of communication,had no communication about this
change.
Customer care as I was seeingthe, The information or the, as
(33:45):
I was seeing the comments andthe posts coming into the
Facebook group they were onlygetting standard answers of
maybe maybe it was rejected or,those, types of things.
Because what happened was, therewas a whole bunch of recurring
charges or transactions thatwere recorded and those funds
(34:09):
were, held, which was the,wasn't the normal expectation,
for, that, because they'vealready had that history of,
Hey, this worked fine last weekor last month, or last time I
had done these sorts of things.
So that was part of the, I thinkthat in and of itself is part of
(34:35):
the the challenge of, this wholesituation is that there wasn't
any communication, To, the endcustomers that this was going to
happen.
So it was all very much asurprise.
And if you're used to gettingACH or getting funded within a
day, then you've planned forthat for your business.
(35:00):
And had we known ahead of timethat this was going to be taking
place, we could have plannedaccordingly and we couldn't
because of this, issue.
And then that just causes moreadditional frustration when it
comes to, The account,especially the accountant
(35:21):
community and and Intuit, right?
Many users are looking toswitch.
It's just another example ofthat degradation of trust that
is, happening or occurring.
And it's not really the, problemreally doesn't seem to lie in
the change in the terms ofservice because we're all well
(35:44):
aware that Intuit can change itsterms of service at any time.
And it does.
It's just that lack ofcommunication.
So adjustments could have beenmade, didn't happen.
And then really it just took somuch time to get a straight
answer.
And typically a lot of monthlyrecurring charges happen around
(36:08):
the first of the month, and tocompound things, there was a
delay in those actually gettingcharged.
The volume of, charges that,were happening on the first of
the month, On top of all of thisjust added, it was I think the
word is shitshow.
(36:29):
With regards to that.
And, Michelle were you hiding inthe background or did you get
kicked out again?
Michelle Long (36:36):
No, I've been hiding.
So Dan, I do have a
Dan DeLong (36:38):
couple of questions.
Michelle Long (36:39):
So yes, it was
Dan DeLong (36:40):
a shit
Michelle Long (36:41):
show.
And again, it's the lack ofcommunication, but so a couple
of questions here.
And so I can understand this andyes, I've been communicated.
It would have alleviated a lotof the shit show and the
frustrations and the peoplewanting to switch and all this,
but okay, so I understand themitigating risk and I
(37:04):
understand, okay.
Even if an intuitive said look,you know when you the accountant
enters the information It's notgood.
We want the client to enter theinformation, right?
They need to enter their owncredit card number or their own
bank account number.
So we've got to make atransition How are they going to
(37:25):
be able to make a transitionbecause we can't expect the
clients or us or whatever let'ssay i've got a homeowners
association with Hundreds ofthese things already set up to
automatically charge their duesor whatever whether it's
homeowners association And adaycare center or a fitness
center or whatever where we haveall these recurring sales
(37:48):
receipts already set up Are theygoing to be able to transition
these things to the new way?
Or they're not really going toask people to have to redo all
of these, are they?
And ask them to sign up andenter the banking information
themselves?
Dan DeLong (38:06):
That's a really great question because this is
all part of the new invoicetemplate, which has nothing to
do with sales receipts.
If you've created thesememorized sales receipts with,
the banking information on it,Yeah that, that does tend to
(38:27):
lead me to believe that.
Yeah, you're going to have torecreate these as invoices, send
those to your customer and hopethat they set up their banking
information properly.
And I can see by your mouth homealone.
Michelle Long (38:43):
Yeah.
Yeah.
You see the guy on that picture.
Yeah.
A lot of people, I think this isnot only that, but you would
think if that's what's going tohave to happen in order for this
to happen.
I can understand them saying,okay, because of this and
because of this transition, wehave to change the funding
period for a period of timeduring this transition.
(39:07):
I would think a communicationwould come out and say, look,
this is what you have to do, andbecause of that, we also need to
change the funding period duringthis transition so we don't have
overlap.
You would think it would alltake place like at the same
period of time or somethingduring a transition period.
Again, it makes no sense.
(39:28):
And I think we're going to havemore of this frustration coming
down the line, I'm afraid.
Dan DeLong (39:34):
Yeah, I time will tell if there actually is a,
migration plan.
I I, shudder to use the wordmigration again because that
always tends to, Lead with withproblems or issues like that.
But, yeah it's given the choicelike, okay, you can keep it the
(39:58):
way you have it today.
Just expect those funds to be totake a little longer because
they are, this is that this isthe reason why and then there's
some expectations that withregards to that, or you can move
these things over maybe take ahandful of customers and clients
and do those things because thealternative is what other people
(40:22):
are doing is they're, lookinginto other alternatives and none
of those have great clientele.
Funding options either when itcomes to, getting, those, funds
on a, faster basis, because theyare, they're, beholden to the
(40:44):
same processes as well.
So, a couple other things that Iwant to talk about with regards
to those alternatives and whatI've seen, bubble up with
regards to.
People moving to other thingsthere's, Anchor which is a,
great platform and I want totalk a little bit about them.
(41:06):
There's Ignition and I had aworkshop that I did with David
Leary when he was at Melialabout ways that you can set up
as a, bookkeeper, you can setup, ACH, funding to yourself on
a recurring basis and thenbasically it's free.
(41:27):
But of course.
All of those, all of thesethings have the same funding
time, but that's, pretty muchthe standard.
And Anchor, if you used Anchorbefore, their funding for ACH is
even longer because of theirbusiness model, right?
And they're actually looking onbeing able to, change that.
(41:49):
But if you haven't checked outAnchor, I have a link in the in
our landing page where thereplay and everything, you can
check them out.
One of the things that I thinkthat's really unique about
Anchor is there's no theirbusiness model is just based on
usage.
So if you don't have anysubscriptions, it's pay as you
(42:11):
go.
It's free to to, to set it upand, try it out and use it.
And you don't pay them anythinguntil you get paid, right?
And that payment is 5 perpayment, right?
So if you have 20 or 100recurring transactions, you can
do the math and figure out howmuch that is going to cost you
(42:35):
because that's 5 per payment,whether it's ACH or credit card.
One of the unique things orthings that I like about Anchor
is that, you can defer thecredit card fee to the client,
right?
If you're all under that I wantto charge the credit card fee.
(42:55):
I'm going to take credit cards,but I'm not going to, I don't
want to take the fee.
You can say the customer has topay that.
When you send out yourengagements through them.
But basically it's you can useit to be able to create
engagement letters they can signthem through that, through,
through the portal they're savedfor, them.
(43:19):
And it also allows people tomanage subscriptions.
So this whole idea ofsubscription based recurring you
can set up the good, better,best.
Options already in, the proposaland then when they start to
creep into the higher,subscription you can just have
(43:41):
them go in and change theirsubscription right there because
they already have, they alreadyhave that.
Established for you in theirplatform, which is really nifty
And I do really like theirintegration with with qbo the
invoices the payments the feesautomatically synchronized into
(44:01):
and into your quickbooks andthen there's just some more
information about what it does.
It's a it's a proposal to paidautomation a platform and so we
want to ask Again, we're runningout of time to talk about these
other features.
Michelle Long (44:24):
And perhaps this polling question does, do you
use QuickBooks Payments tocharge ACH?
Yes.
No, but I'm changing.
Dan DeLong (44:35):
Yeah.
Yeah, I did that.
And for some reason, the pollingquestion didn't get updated.
So I don't have the pollquestion to launch.
Ah, okay.
Michelle Long (44:50):
Years ago I was using payments and all of a
sudden they started charging melike 20 a month.
They changed my plan from thefree plan to the paid plan
without my approval orauthorization or anything.
I do have
Dan DeLong (45:06):
the poll question, I just labeled it.
There
Michelle Long (45:09):
you go.
Looking into other
Dan DeLong (45:11):
options.
There you go.
And I interrupted.
What were you saying?
Michelle Long (45:17):
No, I was just going to say, I was on the free
plan of QuickBooks payments.
As a pro advisor, we hadoptions.
You could get the paid plan orfree plan.
And I was on free plan.
And all of a sudden they changedme for some reason to the plan
that was like 19.
95 a month.
I didn't give them thatauthorization to change me or
(45:38):
anything.
I don't know why they did Butthey just automatically changed
me to the pay plan and i'm like,why did this happen?
And I had to call them and getthem to change it back And then
they refunded me the fees, butstill I don't know why that
happened So it's just they dothings like that all the time
And somebody said that outthere.
(46:00):
Yes.
Dan DeLong (46:02):
Somebody else said that too.
Let's go ahead and I'll leavethat poll question up for a
little bit longer, but let'slet's move on into, some of the,
newer functions, that might beuseful and allow you to look
past some of these shenanigans.
(46:23):
The ability to import journalentries is now available in the
U.
S.
version of QuickBooks.
And we did a webinar with Hectorand Mark from WriteTool.
And Hector actually went throughthis process of of importing the
journal entries.
So I put a link there for forthat replay.
(46:46):
You can take a check out forthat.
It's funny to see Hector stumblea little bit, but it's a good
way for him to work throughthese things well, but you can
import a CSV file.
With up to 100 rows of data tobe able to bring in journal
entries into your QuickBookswithout using spreadsheet sync
(47:10):
or, any other type of, thirdparty process it's built in
natively in all versions ofQuickBooks.
So
Michelle Long (47:20):
if you have payroll entries or something
like that, great opportunity.
Dan DeLong (47:27):
And then I'm not sure the rollout of all of this,
but With regards to bank feeds,you are now able to associate a
product or service inside thebank feed when you're accepting
transactions, right?
So you, instead of justcategorizing and doing the
(47:50):
splits and those types ofthings, you can actually just
use all products or services nowto be able to do that as well.
Makes it a little easier tocreate transactions from the
bank feed.
I have a little mixed feelingsabout this because a lot of
people tend to do.
(48:10):
run their business in the bankfeed.
And, this is a little bit of achallenge.
Sometimes I think if, if they'reactually doing workflows like
those invoices, those are goingto have the products and
services on them.
And then they can potentially,again, still cause duplication
(48:31):
of recognition of revenue orthose types of things by
Encouraging people to do allthat in the bank fee, because
you can do splits.
You can add your products andservices associated to
customers, classes, and all thethings that a sales transaction
would do with the exception oftracking your sales tax, doing
(48:55):
that right from the bank fee.
Michelle.
Michelle Long (48:58):
Mary just had a great question.
What about quantity if it isinventory?
Dan DeLong (49:04):
Yeah, I wouldn't, I wouldn't go that route.
If you're wanting to put, Ithink the default is one, but I
don't think there is.
Quantity column, in there aswell, but knowing that it's
there and that's, the we're theG.
I.
Joe of of QuickBooks here.
(49:24):
We just want you to know thatit's there, and knowing is half
the battle.
Michelle Long (49:31):
I think it would be really good on the purchases
side where you have,Construction workers or
contractors or people who aredoing job costing where they're
tracking Their purchases andstuff on the income side Maybe
for non profits, but not so muchon the sales side, you know Just
(49:52):
for that purpose you can't trackthat quantity and stuff and I
would be more cautious on thesales side On the purchases For
tracking the expenses,definitely, but the job costs
besides.
Absolutely,
Dan DeLong (50:04):
I think that's a great point.
But
Michelle Long (50:05):
not for inventory.
Dan DeLong (50:09):
Another thing we want to talk about as well is
that you can now send yourinvoice through text.
So this is an enhancement of theQuickBooks payment, this may be
an alternative to sending outall of those invoices.
You can just send it to themthrough text and they can enter
their bank information there.
Hopefully their thumbs are asnimble as they should be to make
(50:33):
sure that they enter in theirbanking information properly.
But with when you have QBpayments.
This is different than your thanyour shareable link that you can
then copy and text to them.
It'll ask at the top to be ableto, for the, customer's phone
number, and then you can whenyou say, as soon as you save it,
(50:56):
it sends them a text as well asthe email for the invoice.
So this is just another way tocommunicate.
Hey, pay me to, to yourcustomer.
And this long awaited forpayroll corrections.
You can now adjust your paycheckeven after it's deposited or
(51:18):
your employees paychecks, Ishould say.
You, just can't adjust it iftaxes have been already paid,
right?
So if if you've already made thedeposit to, to pay the The tax
payments to the IRS or the stateor what have you, then you won't
be able to make adjustments tothe paycheck, but you can make
(51:41):
adjustments to a check, even ifit has been deposited.
So you can just make those editswithin there.
Of course, if it changes the netof the pay the paycheck, you
definitely want to make sureyou're communicating that to
your to your employee doingthat.
But this is a step in the rightdirection to be able to make
(52:02):
your paycheck adjustments orpayroll adjustments within, with
inside of QuickBooks OnlinePayroll.
I forgot to end the poll here.
And this other one is a reallygreat one, which is the role
based access to client's books.
Transcribed I think I'm tryingto remember.
(52:24):
I think it was July or April of2020 when Intuit announced that
the yearbook section of QBOA wasalways plus up to that point,
was finally getting, Onlineadvanced functions inside of the
(52:44):
yearbook section of QuickBooks.
And, the one of the things, thelast thing to make its way into
that is the roles causeQuickBooks online advanced had
these various other roles andcustomizations that you can do
(53:05):
with, regards to, team access.
And that was always a stickingpoint with with your team, when
you invite a team member insideof QuickBooks into your firm,
there was just a basic, full,and a custom, which really just
gave them access to, the,company admin side of things are
(53:27):
managing the subscriptions andthose types of things with all
you could do when you'reinviting a team member and give
them it was, a light switch asfar as the role is on or off,
Michelle Long (53:39):
all or nothing,
Dan DeLong (53:41):
and this was now this is, mirroring the role
based permissions fromQuickBooks Online Advanced.
Inside of the team.
So when you're inviting, oradding a team member inside of
your QBOA you can now give themaccounts payable access on or
(54:02):
off and all of the the variouscheck marks where you can maybe
they're, they need to be anapprover for, bills and those
types of things.
So the bill clerk and the billapprover as well as the standard
accounts for receivable accountspayable.
Customer access and those typesof things.
(54:23):
So this was a welcome change,and really great final one of
the, what took you so long, butit did, it was very complicated
from my understanding of useraccess and they wanted to do it
right.
And they, I from all things thatI've seen so far, this has been
(54:46):
a non issue because it's just Anability to do, these things
inside of inside of your firm,Michelle,
Michelle Long (54:54):
do you know, and I haven't tested it, do the user
accesses, does that the userroles and access, does it also
work on the mobile app torestrict access on the mobile
app?
Dan DeLong (55:09):
I think it's a lot of the, a lot of the
restrictions or the abilities todo inside of the mobile app
requires you to be a companyadmin for a lot of those
functionalities.
I have not actually tested ateam member.
Now you've given me homework.
Michelle Long (55:28):
Sorry, Dan, I didn't mean to.
It used to be, and I haven'ttested it in years.
And so I don't know.
I'm not going to say, because Idon't know.
I haven't tested it in a longtime.
Dan DeLong (55:41):
I'm in my own firm many times, so it shouldn't be
too hard to check it out.
I'll try it out after thewebinar today, and we'll see.
I
Michelle Long (55:51):
haven't done that testing, so I don't know.
Dan DeLong (55:54):
All right, so this Real quick, highlight of those
new functions or features, andthere's, plenty of others to
really talk about and, we'llpick that up in our next one,
next iteration.
But which of these new featuresdo you find most useful?
And I've, I even put the ACHfunding change in there.
(56:18):
Oh, I didn't put it as anoption.
That's okay.
Michelle Long (56:23):
I can't vote but the one on the products in the
bank feed from the perspectiveof purchasing and tracking and
job costing that would be mybest.
I would be excited about thatone from that perspective.
Dan DeLong (56:36):
Yeah, it's a it's like the uncle Ben, with great
power comes greatresponsibility.
I think that is a great ad inthe bank feed.
And and like I said I have,mixed feelings about that.
Because I, I.
I, I tend to see, challengeswith QuickBooks being workflows
(57:03):
are broken, right?
And if they are using workflowsin one area of a estimate to an
invoice, to a payment.
That could certainly be aproblem.
And then if they're using billsto bill payments, and then using
the products and services on theexpense that once that's hit,
that could also be a problem aswell.
(57:26):
But yeah, if you, know whatyou're doing.
Yeah.
If
Michelle Long (57:32):
is the big word in that one.
Dan DeLong (57:35):
Exactly.
Appreciate you joining us here.
My other laptop just rebooted inthe middle of it.
So I don't know if I can stopthe live feed.
Michelle Long (57:47):
Let's see
Dan DeLong (57:48):
about that.
I can stop our recording, butnot the live feed.
Sorry.
The webinar is fine, it's justwhere it's posting on YouTube
and in the Facebook groups.
So I'll probably have to rebootthat machine again and log that
out, but we appreciate youjoining us.
And, Seeing our struggle.
(58:13):
You may struggle more thananybody else.
But Michelle, it was great to
Michelle Long (58:18):
see you.
It's been a pleasure as always,Dan.
You've done fabulous as always.
for all your work.
And thank you everybody forjoining us.
Dan DeLong (58:26):
We'll see you next time on the Power Hour.
Have a great day, everyone.
welcome to another QB Power Hour.
Michelle, how are you?
It's great to see you.
How are you enjoying retirement?
Michelle Long (00:40):
I am enjoying it.
I am really enjoying that.
Except I did see the call forspeakers for Scaling New Heights
25 come out.
It was sad not to be applyingfor that, but hey, it's all so
cool.
I don't have to come up with allthese ideas that are going to be
rejected.
Dan DeLong (01:02):
How many what was the most sessions you've done?
You're, there's so many trainingsessions that you've done at one
time.
Michelle Long (01:13):
I've done easy five or six one year.
Oh my
Dan DeLong (01:16):
Lord.
Michelle Long (01:17):
I know you don't even get to enjoy the
conference.
Yeah, you don't get to go andenjoy the conference when you're
presenting every day.
You're always nervous every day.
So it's nice to be an attendee.
Dan DeLong (01:27):
It's gotta, it's gotta be butterflies all the
time.
Michelle Long (01:31):
Yep.
Yep.
Hey, I'm good to see you today.
Glad to see you.
And how is things going here?
Like total scriptiness?
Dan DeLong (01:40):
Yeah, since since I'm not really kissing my wife
lately I've decided to let the,beard go, and yeah, my wife had
an ankle fusion, and thanks toyou, Michelle for sharing a lot
of the support network she'sbeen really, it's been really
(02:00):
helpful, but yeah, she'sdefinitely a patient.
My alarm to give her someibuprofen just went off at the
same time as we're going livehere, but my daughter in law is
upstairs so she can assist withthat.
(02:21):
So
Michelle Long (02:22):
yeah, anyway.
Yeah, she needs those painpills.
Dan DeLong (02:27):
Exactly, yeah, as you can attest by being being
non weight bearing for a seriesof period of time.
okay, so we have long awaitedfor QBO updates.
We've been kicking this one downdown down the pike with other
things that have been coming uplately.
(02:50):
So we're, we want to make surethat we, have every so often
It's a compilation of thingsthat have been going on with
QuickBooks online and just takea pulse check of the new
features.
And those types of things we,ended up with Matt having quite
(03:11):
a discussion about the pricingupdates, which kind of pushed
the new features to, to thisone.
This is what we're going to talkabout mostly today is, just some
of the.
The things that we've seen inthe, know webinars that have
come out because QuickBook doesput out a monthly what's new
(03:35):
either a webinar or at least ablog post of new features and
updates reasons to justify theirpricing increases year over
year.
So we, we do wanna unpack someof those things as well as, A
pretty hot topic I think iswithin the facebook group and
(03:57):
we'll go through that butmichelle go ahead and Introduce
yourself for those that are justjoining us for the first time
and don't know who the heck isMichelle Long.
Michelle Long (04:08):
Welcome everybody.
Owner of Launch for Success hadmy practice for long time 30
plus years.
Recently announced my retirementis still hanging around to help
out Dan and keep in contact witheverybody and everything.
I've authored five differentbooks.
You can check those out onAmazon with a trainer for Intuit
for a long time from about ayear.
(04:29):
Until they sunset the trainerwriter network and just love
being around and, chatting withyou all and keeping up with
what's going on in the Facebookworld.
So nothing about me, Dan, goahead.
Dan DeLong (04:43):
All right, my name is Dan DeLong and this brand new
slide courtesy of MatthewFulton.
I appreciate him readjusting andlaying out his OCD took over and
made this slide a little,purification, but the owner at
Dan Witt School of Bookkeepingworked at Intuit for nearly 18
(05:03):
years and co hosting today.
As well as the workshopWednesdays over at
schoolbookkeeping.
com and doing some tech editingfor the QBO or the Dummies
series of books for QBO andQuickBooks All in One which is
what I'm going to be doing therest of the day.
They are under the gun withregards to the publishing, so we
(05:24):
need to get those, edited forthem.
a little bit about the detailsabout QuickBooks The QB Power
Hour webinar series.
It's every other Tuesday at 12noon.
And then beginning this one thiswebinar and the first webinar of
each month.
Our friends at Makers Hub, theyhave graciously offered to be
(05:46):
the CPE sponsor for the QB PowerHour series.
So the first one of each monthwill be eligible for one hour of
CPE credit.
And in doing so Ted is lurkingin the background just to make
sure that he's participating forfor the for that webinar, but if
(06:09):
you need these the, slides I didput the the slide link in the
chat.
So if you can, if you want tograb those those slides there,
but they're always atqppowerhour.
com slash resources, as well asrecordings, podcasts, and other
resources as well.
A little bit of housekeeping, ifyou do have any particular
(06:33):
questions about things that weretopics that we're talking about
here today, please put them inthe Q and a especially
especially today, because I'mall disheveled because normally,
if you can tell by thebackground, I'm in a different
room.
And I'm at my son's house,delegated to the, basement his
game room that he has here.
So I'm, it's really warm withall the computers that are
(06:56):
running here in the background.
But thankfully I don't have toworry about wifi because that as
a, as an online gamer, youdefinitely need to have your,
speed.
So I don't have any, I shouldn'thave any glitches or lag or
anything like that because Thatwould be horrible for an online
gamer to have.
But everything is, is, in a newsposition for me.
(07:20):
So I appreciate if you would putquestions in the Q and a, and
then comment in the chat to makeit a little easier for for all
of us to follow along and thenof course we have links there
for the handouts as well.
So new for the for, 2024, we aresimulcasting which reminds me, I
(07:40):
need to.
Send that over to the Facebookgroups and everything.
But if you are watching in theFacebook group, there is a QR
code there in order to allow usto see who you are when you when
you comment as well as ourstore.
So you can always check out theQuickBooks Power Hour swag at
(08:03):
the, store there.
Alright, so with the CPE credit.
Again, our friends at Makers Hubare, being our CPE sponsor.
There's their CPE number thereas well.
You will be eligible for onehour just to make sure that you
answer the questions in thequeue, I'm sorry, in the poll
(08:24):
questions when we launch thepoll questions in order for you
to receive credit or CPE credit.
You do need to participate inthat manner.
And those poll questions will bespread out throughout the
webinar as well.
Our agenda today is really justto unpack some of that
QuickBooks news and updates thatwe've had over the past quarter
(08:48):
or six months or so since we'vehad one of these in the, past.
And we'll talk about some of theFacebook group, updates and the
issues that we've seen in there.
So our first poll question isnot on my screen.
Let's see, do you need CPE, forthis webinar?
(09:10):
And while you're answering that,I'm going to share this to the
Facebook group.
But Michelle any, this is weirdbecause you're are, you're
retired.
So what do we talk about while,we're, while they're answering
the poll question?
Michelle Long (09:33):
I just came back, something happened and it had to
reconnect me.
So what did I miss?
What was the
Dan DeLong (09:42):
question?
I'm just launching the firstpoll question.
And and it was wondering what wetalk about while we're, did you
see anything in the chat or thecomments that That we want to
talk about while people areanswering this first poll
question
Michelle Long (10:00):
Not yet.
I did not see anything thistime, but we did want to thank
makers mark for doing cte forthis
Dan DeLong (10:13):
I was talking with ted and maybe that's their
slogan is like With by usingmakers hub, you won't need
makers mark
Michelle Long (10:21):
Yep, there you go.
I typed it right in this Thechat I did thank him correctly
in the chat.
I apologize It kicked me out andrebooted and that kind of threw
me off there.
Sorry about that
Dan DeLong (10:36):
The struggles of doing a live webinar, that's for
sure.
I
Michelle Long (10:39):
tell you
Dan DeLong (10:40):
Yeah, okay.
It looks like most people haveanswered the first poll
question.
So i'll go ahead and stop thatAnd we'll move on here Okay.
So a little bit about the QBpower users Facebook group, you
want to talk about some of thehistory behind it with you and
Hector and And those types ofthings
Michelle Long (11:01):
well we created the facebook group because we
would have these great, webinarsand things and then we want to
finish the discussion and peopleYou know wanted to continue
talking and chatting with oneanother and all that stuff And
so we created the facebook groupand we kept it in closed groups
we didn't just let anybody intrying to keep the spammers down
(11:23):
and Also trying to keep theclients out so we could discuss
things without clients seeingeverything You hopefully I mean
they still can slip through thecracks so you never want to post
anything online Assuming thatyour clients would not see it
always assume they can't anywayIt is a place where we help one
another Where we can go out andsay has anybody ever used this
(11:46):
app or I need an app for this oryou know What are your thoughts
on this app or?
I have this problem.
What do you suggest?
And it's a place for people toask help hey I'm new getting
into e commerce but I got thisclient what does somebody
suggest?
It's a place for us to help oneanother we all have to learn and
(12:09):
get started and we all You knowneed to help one another one
time and that's the thing that Ihave always loved is, you know I
started my practice Is From mybasement back in the day where
we used to have suite a forattic and suite b for basement
Because you were embarrassed totell people you were working out
of your home, and it was reallytough because You were on your
(12:34):
own and we had to go to chamberluncheons and go to meetings and
stuff And you didn't talk aboutthe fact that you worked from
your home So you didn't haveyour peers to bounce ideas from
and it was so much harderwhereas today we have You know
social media and we have theability to network with our
(12:56):
peers all over the place Andthat's where you know going to
these conferences scaling theheights or whatever, and being
able to meet people in reallife, being able to meet them
online in these Facebook groups,you get to know other people,
and you meet people that you cannetwork with, so you can bounce
ideas off of them, and you canthen have a group of peers.
(13:18):
So you're not totally alone.
Dan DeLong (13:20):
So you can
Michelle Long (13:20):
be like, Hey Dan have you used makers hub and
what are your thoughts on it anddoes it work for you?
And is, you think that would bea good fit for my client?
I think I'm going to reach outto Ted and see what he can do to
help me.
You know you can exchange thosekind of ideas with people so
much easier And so this facebookgroup has been a great support
(13:41):
system for a lot of people Onthat have their own firm or a
small firm to help each otherand the idea is when you need
some help or have a question youpost your stuff out there But
then you turn around and whenyou've got a few extra minutes
some time and you want to sitdown have a break and You know
drink your coffee or your teathat you sit down, maybe you
(14:04):
answer a couple of questions andhelp somebody else as well.
So it's all about us helping oneanother so like you posted up
there, people helping people,you get help when you need it,
but you also turn around and youhelp one another.
And initially, I know I, when Ifirst started and Hector, who We
(14:24):
put a lot of time into it, and Iknow you and Hector still do but
a lot of it is self sufficient,where people really do a lot of
it themselves now so I thinkthat's great.
Dan DeLong (14:38):
That's one of the things that I've noticed lately
I felt initially, hey I gotta,go in and make sure everybody's
given getting, the rightinformation and those types of
things, but now, It's one ofthose things where I'll see a
post and I'll go and I'll lookat the comments and it looks
like it's already been answered.
And that's, what's reallyamazing about this community and
(15:00):
this Facebook group is that, thewillingness that, that people
are, have that have to be ableto help each other, it is an
election year and, Emotions arehigh, I guess it's probably the
nicest way to say that, andsocial media isn't always the
(15:21):
best place, to air thosegrievances sometimes and
sometimes that comes in, becausewe are human after all, and,
that's that's just one of thethings that we want to keep in
mind when we're When helpingeach other is to keep it
(15:41):
solution focused rather thanbringing up more problems but
we'll definitely see some of theproblems that have been, brought
up over, over the course of thepast six months as we go through
this.
And one of the things that we'vebeen trying to do with, with the
Facebook group, because peopleare putting in so much valuable
(16:04):
time is giving back, to the tothe, community in the world at
large because I've seen somereally great answers.
And we'll, talk about one ofthem today from, Alicia Cat
Pollock, this is somebody that'snot they, are, a rock star in
(16:28):
the, QB, QB community,accounting community, and gave
gave an answer for a lot ofpeople that have just been
struggling over the past six,seven weeks, and we're trying to
figure, I'm trying to figure outa way to be able to.
(16:48):
Give back to the world.
When you see something that issolved and then information Is
so valuable to the community orat least the original poster of
their question, and it's not thefacebook group is not designed
to bypass into it but sometimesyou're just not able to get the
(17:11):
right answer, that first timeand working within the community
sometimes that, that, is afaster answer but there's some
value in that and we want to beable to, give back to
charitable, charitableorganization.
We're trying to figure out a wayto operationalize that.
(17:32):
Like, when I do see that it isan answered question or the
issue is solved, maybe puttingin a way that donations can be
made whatever you feel is thevalue of the answer that you
were given, hey, give that backto to your charitable
organization.
Charitable organization ofchoice.
(17:54):
Ooh, can't say that.
But this way it'd be peoplehelping people.
All right.
So let's talk about our agendaof things that we're going to be
talking about today.
The biggest hot topic that wewant to talk about, and
hopefully this doesn't take thewhole webinar again, because we
really want to get to theseother things too but the ACH
(18:15):
funding change with recurringtransactions we want to talk
about.
Why that happened, and and, whatelse what options are,
available.
Importing journal entries, usingproducts now on the, bank feed,
being the ability to textinvoices now texting a link
(18:37):
directly from, to yourcustomer's phone.
Payroll corrections.
Hey, we've been dying for thisfor a long time, so we want to
talk a little bit about someadvancements in correcting
payroll instead of QuickBooksOnline.
But And finally, role based firmand client access in QBOA.
(18:58):
We'll jump into that.
If you are unaware, there was achange with regards to ACH with
regards to, QuickBooks OnlineACH payments.
And we'll we'll try to unpackWhat happened, why the change
(19:18):
occurred, and and steps to moveforward, with regards to that.
But around mid July startedseeing a lot of posts about,
hey, there was a, delay in ACHpayments.
Done through QB QB payment andstarted seeing a lot of fervor
(19:41):
around that, it usually is nextday funding, right?
Once you have a QB paymentsaccount and start collecting
payments, and once that firstdeposit.
Is reviewed, into it switchesyou normally to next day funding
(20:06):
after that's done, right?
This caused Some understandably,some surprise and confusion and
then on top of that there was arecent pricing announcement with
regards to qb payments, whichalso added, to the confusion.
So let me try to unpack You thenormal situation, what would
(20:30):
normally happen.
So when you have a new accountfor QuickBooks payments,
normally you're set at five dayswith regards to the first
deposit, whether it's creditcard or ACH.
And the whole reason behind thatis, They don't typically there's
no limitations specifically forthe dollar amount that you're
(20:55):
that you're able to charge andprocess through through QB
payments.
So it needs to be reviewed, andmonitored, right?
So when there is a credit cardpayment or DCH, They have to,
there's a big risk when it comesto money movement and they want
to make sure that the, thateverything is working properly
(21:18):
in the past.
If you charged more than, or ifyou said that you charged more
than 10, 000 in a month you hadto, Do a lot of underwriting
steps, right?
You had send ins, bankstatements to prove that you had
the funds because when it comesto payments in any payment
(21:39):
industry, there is, there arethree parties involved.
There's the there's the chargingthe customer there's the
receiver of the funds, and thenthere is the payment processor
that's in between and thatpayment processor in between
takes on some risks when itcomes to moving money, from, one
(22:01):
bank or one financialinstitution to, to another, and
they want to mitigate the riskby making sure that those
transactions are going to flowfrom customers to, To to the
source and it goes depositing abank account.
So the way they solve that and,avoided a lot of the headaches
(22:22):
of having to upload all of thebank, six months of bank
statements and those types ofthings is is by doing this
review process, for newaccounts.
So they review the transactions,which unfortunately, if you're
charging every day that kind of.
Makes a logjam, and then theyreview that first deposit, and
(22:45):
then everything flows in.
And then they switch things overto next day deposit, which the
next day is based off of 3 p.
m.
Pacific time cutoff.
So as long as those transactionsare done prior to that 3 p.
m.
Pacific time cutoff, then creditcard, PayPal, Venmo, ACH, with a
(23:09):
caveat of through e invoice.
So you send somebody an invoiceand they pay and enter their
banking information.
That way that will be next day,and it is still that way.
You can see what your fundingtime is is by going to the gear,
(23:29):
account settings, and payments.
And then you'll be able to seethe deposit speed right there.
This is actually my business, inthere and it, that for bank
transfers, it says one to fivedays, so that's a, that's quite
a spread.
And I actually did get an ACHpayment.
(23:50):
I sent an invoice and rightbefore right before the power
hour, I got three emails.
One saying it was money's on theway and then another one that
said it was instantly available.
So it, ACH, and they were paidby ACH.
And, so that, that tells me thatwhen you send it in the e
(24:12):
invoice and they pay throughbank, that is not this funding
delay that we're, referring tohere today.
I, wanted to put a an article inhere about the ACH basics to,
give an idea of what happens, inan ACH process.
(24:35):
So as it flows through herecustomer there's, two there's
two options when it comes toACHs.
One is a push where you'resending money and our friends at
Makers Hope can talk all aboutthat.
And then there's a poll whereit's coming from someone's bank
(24:55):
account into, your own.
So the ACH process is you seesome of these icons here and
there's a link for for thearticle there.
One thing, the main thing I wantto point out here is at no point
do the two banks actually talkto each other.
The way I had always describedit to, to, folks is that the ACH
(25:20):
process is this game oftelephone where it goes to the
next the next step and then itcan basically take, hours or
even days to realize that thefunds didn't actually get
deposited into the, destinationbank account.
(25:42):
So there's a delay, right?
Basically, there's a delay andthat's why this ACH delay
actually occurred is becauseIntuit, again, wants to go back
to that, less risk option ofmaking sure that the destination
bank account received the fundsand it takes a lot of, signals
(26:07):
going back and forth.
It's not as instantaneous.
As we would, hope, becausethere's actually files involved
here being moved between threedifferent financial
institutions.
One is the destination, one isthe receiver, and then the other
is the payment processor inbetween.
(26:28):
And when we're talking about QBpayments in ACH, that payment
processor in between is to itsfinancial institution that could
potentially take on the risk ofa chargeback or Any of the 20
different rejection codes thatcan potentially happen with it
with an ACH wrong account wasput in fat fingered or the
(26:52):
account was closed or there'sall sorts of different rejection
codes when it comes to Why?
Why it failed but because ofthis process it it's very Not
necessarily archaic, but it isit does have some flaws built
into it and when somethinghappens in this process, then
(27:18):
it's basically got to start allover with regards to getting a
new a new funding, option.
Another thing I wanted to pointout is that next day does not
equal instant.
So there's a, there, this isalso creating a little bit of
confusion is because next dayand instant funding are two
(27:42):
different things.
As soon as the transaction ischarged for in, if it's
eligible, it's eligible forinstant funding and you can set
that setting but there's acaveat, right?
There's a, there's an additionalfee.
You see a lot of these with,like Melio and Bill and other
(28:03):
things that, that, that will bewanting to send you funds and
you can say, Hey, I can get itto you faster, but there's going
to typically be a 1 percent orsome kind of charge.
To get that money faster becausenow that intermediary financial
institution, whether it whoeveris processing the ACH is now
(28:29):
incurring the risk of somethinggoing on, going wrong.
They offset that risk, chargeback fees and things that comes
back, come back from the bank bylevying an additional fee.
Now in QuickBooks payments, theinstant fee is 1%, but it is
(28:51):
waived.
If you're using QB checking asyour deposit account.
So if you're using theQuickBooks Checking bank account
I think it's funded by or theunderlying financial institution
is green.bank, or Green Bank.
Do I, I'm not sure there's agreen in there somewhere.
(29:14):
But that fee is waived if youare use, if you use instant
deposits.
And you're using QuickBooksChecking as your destination or
funding account, and then if youhave your other bank accounts
linked to that, then you cantransfer funds to that, or you
can use the envelopes and useuse the, built in functionality
(29:36):
associated with that.
That is, that's a, that, that isa unique or a different
circumstance than the next dayfunding that we were all used
to.
Alicia Katz Pollack, we want tocall her out give her, shout her
out, give a shout out here toAlicia, she shared the answer as
(30:01):
to why this is all why this allwas taking place in her her
group is training for QuickBooksusers there's a link there for
it, you can join that group toreally find out what, what was
happening here, but I summarizedit here as well.
Recurring ACH transactions.
This is where things really are,the caveat to all of this,
(30:27):
right?
So when you create a re arecurrent monthly recurring
transaction, the, it's going tobe the banking information is
entered by you as the processor,not by the bank holder, right?
So that is in and of itself, ahigher risk transaction because.
(30:48):
You have to either send somekind of form, an authorization
form to the, customer assumingthat they are typing or entering
their banking information.
God forbid they write it down.
Lots of, different numbers looklike other numbers, especially
in certain people's penmanship.
And then they got to send thatinformation back to you.
(31:11):
All of that could be, A riskybehavior, right?
If they're sending that overthrough, email or some non
secure method of getting thatinformation back and forth.
But what's going to be happeningis that we talked about this on
a prior QB power hour about thethe new invoice template, love
(31:36):
it or hate it.
It's there.
But the new invoicing templatewill change that process when it
comes to monthly recurring ACHtransactions, right?
So instead of, that process ofyou entering the sales receipt,
putting in the bankinginformation inside of your QBO,
(31:57):
saving that as a recurringtransaction, when you when you
invoice them, they'll have theability to save and store their
banking information.
On their end, right?
So that is less of a risky moneymovement behavior than than, in
(32:18):
the past.
While they're working on that,they changed the the funding
time for recurring ACHtransactions to be the default
funding time, which is aroundfive days.
Because again, we need thattelephone game of, hey, I sent
(32:39):
you money.
Did you get it?
Yeah, I got it, so on and soforth down the chain until it
actually gets deposited and allthat takes about five days.
Incidentally, the e invoicespaid by bank or ACH do not, this
is not part of this
Michelle Long (32:57):
problem
Dan DeLong (32:58):
That's been identified.
This is only dealing with ACHcharges that you enter in the
banking information, inside of,QBO, whether it's a recurring or
you're receiving a payment andputting in the banking
information, those are moreriskier than if the customer
does that, because I, again, Igot I got a payment paid by ACH
(33:23):
today, and it's funded already.
So the challenge here is thatIntuit.
In its wisdom of communication,had no communication about this
change.
Customer care as I was seeingthe, The information or the, as
(33:45):
I was seeing the comments andthe posts coming into the
Facebook group they were onlygetting standard answers of
maybe maybe it was rejected or,those, types of things.
Because what happened was, therewas a whole bunch of recurring
charges or transactions thatwere recorded and those funds
(34:09):
were, held, which was the,wasn't the normal expectation,
for, that, because they'vealready had that history of,
Hey, this worked fine last weekor last month, or last time I
had done these sorts of things.
So that was part of the, I thinkthat in and of itself is part of
(34:35):
the the challenge of, this wholesituation is that there wasn't
any communication, To, the endcustomers that this was going to
happen.
So it was all very much asurprise.
And if you're used to gettingACH or getting funded within a
day, then you've planned forthat for your business.
(35:00):
And had we known ahead of timethat this was going to be taking
place, we could have plannedaccordingly and we couldn't
because of this, issue.
And then that just causes moreadditional frustration when it
comes to, The account,especially the accountant
(35:21):
community and and Intuit, right?
Many users are looking toswitch.
It's just another example ofthat degradation of trust that
is, happening or occurring.
And it's not really the, problemreally doesn't seem to lie in
the change in the terms ofservice because we're all well
(35:44):
aware that Intuit can change itsterms of service at any time.
And it does.
It's just that lack ofcommunication.
So adjustments could have beenmade, didn't happen.
And then really it just took somuch time to get a straight
answer.
And typically a lot of monthlyrecurring charges happen around
(36:08):
the first of the month, and tocompound things, there was a
delay in those actually gettingcharged.
The volume of, charges that,were happening on the first of
the month, On top of all of thisjust added, it was I think the
word is shitshow.
(36:29):
With regards to that.
And, Michelle were you hiding inthe background or did you get
kicked out again?
Michelle Long (36:36):
No, I've been hiding.
So Dan, I do have a
Dan DeLong (36:38):
couple of questions.
Michelle Long (36:39):
So yes, it was
Dan DeLong (36:40):
a shit
Michelle Long (36:41):
show.
And again, it's the lack ofcommunication, but so a couple
of questions here.
And so I can understand this andyes, I've been communicated.
It would have alleviated a lotof the shit show and the
frustrations and the peoplewanting to switch and all this,
but okay, so I understand themitigating risk and I
(37:04):
understand, okay.
Even if an intuitive said look,you know when you the accountant
enters the information It's notgood.
We want the client to enter theinformation, right?
They need to enter their owncredit card number or their own
bank account number.
So we've got to make atransition How are they going to
(37:25):
be able to make a transitionbecause we can't expect the
clients or us or whatever let'ssay i've got a homeowners
association with Hundreds ofthese things already set up to
automatically charge their duesor whatever whether it's
homeowners association And adaycare center or a fitness
center or whatever where we haveall these recurring sales
(37:48):
receipts already set up Are theygoing to be able to transition
these things to the new way?
Or they're not really going toask people to have to redo all
of these, are they?
And ask them to sign up andenter the banking information
themselves?
Dan DeLong (38:06):
That's a really great question because this is
all part of the new invoicetemplate, which has nothing to
do with sales receipts.
If you've created thesememorized sales receipts with,
the banking information on it,Yeah that, that does tend to
(38:27):
lead me to believe that.
Yeah, you're going to have torecreate these as invoices, send
those to your customer and hopethat they set up their banking
information properly.
And I can see by your mouth homealone.
Michelle Long (38:43):
Yeah.
Yeah.
You see the guy on that picture.
Yeah.
A lot of people, I think this isnot only that, but you would
think if that's what's going tohave to happen in order for this
to happen.
I can understand them saying,okay, because of this and
because of this transition, wehave to change the funding
period for a period of timeduring this transition.
(39:07):
I would think a communicationwould come out and say, look,
this is what you have to do, andbecause of that, we also need to
change the funding period duringthis transition so we don't have
overlap.
You would think it would alltake place like at the same
period of time or somethingduring a transition period.
Again, it makes no sense.
(39:28):
And I think we're going to havemore of this frustration coming
down the line, I'm afraid.
Dan DeLong (39:34):
Yeah, I time will tell if there actually is a,
migration plan.
I I, shudder to use the wordmigration again because that
always tends to, Lead with withproblems or issues like that.
But, yeah it's given the choicelike, okay, you can keep it the
(39:58):
way you have it today.
Just expect those funds to be totake a little longer because
they are, this is that this isthe reason why and then there's
some expectations that withregards to that, or you can move
these things over maybe take ahandful of customers and clients
and do those things because thealternative is what other people
(40:22):
are doing is they're, lookinginto other alternatives and none
of those have great clientele.
Funding options either when itcomes to, getting, those, funds
on a, faster basis, because theyare, they're, beholden to the
(40:44):
same processes as well.
So, a couple other things that Iwant to talk about with regards
to those alternatives and whatI've seen, bubble up with
regards to.
People moving to other thingsthere's, Anchor which is a,
great platform and I want totalk a little bit about them.
(41:06):
There's Ignition and I had aworkshop that I did with David
Leary when he was at Melialabout ways that you can set up
as a, bookkeeper, you can setup, ACH, funding to yourself on
a recurring basis and thenbasically it's free.
(41:27):
But of course.
All of those, all of thesethings have the same funding
time, but that's, pretty muchthe standard.
And Anchor, if you used Anchorbefore, their funding for ACH is
even longer because of theirbusiness model, right?
And they're actually looking onbeing able to, change that.
(41:49):
But if you haven't checked outAnchor, I have a link in the in
our landing page where thereplay and everything, you can
check them out.
One of the things that I thinkthat's really unique about
Anchor is there's no theirbusiness model is just based on
usage.
So if you don't have anysubscriptions, it's pay as you
(42:11):
go.
It's free to to, to set it upand, try it out and use it.
And you don't pay them anythinguntil you get paid, right?
And that payment is 5 perpayment, right?
So if you have 20 or 100recurring transactions, you can
do the math and figure out howmuch that is going to cost you
(42:35):
because that's 5 per payment,whether it's ACH or credit card.
One of the unique things orthings that I like about Anchor
is that, you can defer thecredit card fee to the client,
right?
If you're all under that I wantto charge the credit card fee.
(42:55):
I'm going to take credit cards,but I'm not going to, I don't
want to take the fee.
You can say the customer has topay that.
When you send out yourengagements through them.
But basically it's you can useit to be able to create
engagement letters they can signthem through that, through,
through the portal they're savedfor, them.
(43:19):
And it also allows people tomanage subscriptions.
So this whole idea ofsubscription based recurring you
can set up the good, better,best.
Options already in, the proposaland then when they start to
creep into the higher,subscription you can just have
(43:41):
them go in and change theirsubscription right there because
they already have, they alreadyhave that.
Established for you in theirplatform, which is really nifty
And I do really like theirintegration with with qbo the
invoices the payments the feesautomatically synchronized into
(44:01):
and into your quickbooks andthen there's just some more
information about what it does.
It's a it's a proposal to paidautomation a platform and so we
want to ask Again, we're runningout of time to talk about these
other features.
Michelle Long (44:24):
And perhaps this polling question does, do you
use QuickBooks Payments tocharge ACH?
Yes.
No, but I'm changing.
Dan DeLong (44:35):
Yeah.
Yeah, I did that.
And for some reason, the pollingquestion didn't get updated.
So I don't have the pollquestion to launch.
Ah, okay.
Michelle Long (44:50):
Years ago I was using payments and all of a
sudden they started charging melike 20 a month.
They changed my plan from thefree plan to the paid plan
without my approval orauthorization or anything.
I do have
Dan DeLong (45:06):
the poll question, I just labeled it.
There
Michelle Long (45:09):
you go.
Looking into other
Dan DeLong (45:11):
options.
There you go.
And I interrupted.
What were you saying?
Michelle Long (45:17):
No, I was just going to say, I was on the free
plan of QuickBooks payments.
As a pro advisor, we hadoptions.
You could get the paid plan orfree plan.
And I was on free plan.
And all of a sudden they changedme for some reason to the plan
that was like 19.
95 a month.
I didn't give them thatauthorization to change me or
(45:38):
anything.
I don't know why they did Butthey just automatically changed
me to the pay plan and i'm like,why did this happen?
And I had to call them and getthem to change it back And then
they refunded me the fees, butstill I don't know why that
happened So it's just they dothings like that all the time
And somebody said that outthere.
(46:00):
Yes.
Dan DeLong (46:02):
Somebody else said that too.
Let's go ahead and I'll leavethat poll question up for a
little bit longer, but let'slet's move on into, some of the,
newer functions, that might beuseful and allow you to look
past some of these shenanigans.
(46:23):
The ability to import journalentries is now available in the
U.
S.
version of QuickBooks.
And we did a webinar with Hectorand Mark from WriteTool.
And Hector actually went throughthis process of of importing the
journal entries.
So I put a link there for forthat replay.
(46:46):
You can take a check out forthat.
It's funny to see Hector stumblea little bit, but it's a good
way for him to work throughthese things well, but you can
import a CSV file.
With up to 100 rows of data tobe able to bring in journal
entries into your QuickBookswithout using spreadsheet sync
(47:10):
or, any other type of, thirdparty process it's built in
natively in all versions ofQuickBooks.
So
Michelle Long (47:20):
if you have payroll entries or something
like that, great opportunity.
Dan DeLong (47:27):
And then I'm not sure the rollout of all of this,
but With regards to bank feeds,you are now able to associate a
product or service inside thebank feed when you're accepting
transactions, right?
So you, instead of justcategorizing and doing the
(47:50):
splits and those types ofthings, you can actually just
use all products or services nowto be able to do that as well.
Makes it a little easier tocreate transactions from the
bank feed.
I have a little mixed feelingsabout this because a lot of
people tend to do.
(48:10):
run their business in the bankfeed.
And, this is a little bit of achallenge.
Sometimes I think if, if they'reactually doing workflows like
those invoices, those are goingto have the products and
services on them.
And then they can potentially,again, still cause duplication
(48:31):
of recognition of revenue orthose types of things by
Encouraging people to do allthat in the bank fee, because
you can do splits.
You can add your products andservices associated to
customers, classes, and all thethings that a sales transaction
would do with the exception oftracking your sales tax, doing
(48:55):
that right from the bank fee.
Michelle.
Michelle Long (48:58):
Mary just had a great question.
What about quantity if it isinventory?
Dan DeLong (49:04):
Yeah, I wouldn't, I wouldn't go that route.
If you're wanting to put, Ithink the default is one, but I
don't think there is.
Quantity column, in there aswell, but knowing that it's
there and that's, the we're theG.
I.
Joe of of QuickBooks here.
(49:24):
We just want you to know thatit's there, and knowing is half
the battle.
Michelle Long (49:31):
I think it would be really good on the purchases
side where you have,Construction workers or
contractors or people who aredoing job costing where they're
tracking Their purchases andstuff on the income side Maybe
for non profits, but not so muchon the sales side, you know Just
(49:52):
for that purpose you can't trackthat quantity and stuff and I
would be more cautious on thesales side On the purchases For
tracking the expenses,definitely, but the job costs
besides.
Absolutely,
Dan DeLong (50:04):
I think that's a great point.
But
Michelle Long (50:05):
not for inventory.
Dan DeLong (50:09):
Another thing we want to talk about as well is
that you can now send yourinvoice through text.
So this is an enhancement of theQuickBooks payment, this may be
an alternative to sending outall of those invoices.
You can just send it to themthrough text and they can enter
their bank information there.
Hopefully their thumbs are asnimble as they should be to make
(50:33):
sure that they enter in theirbanking information properly.
But with when you have QBpayments.
This is different than your thanyour shareable link that you can
then copy and text to them.
It'll ask at the top to be ableto, for the, customer's phone
number, and then you can whenyou say, as soon as you save it,
(50:56):
it sends them a text as well asthe email for the invoice.
So this is just another way tocommunicate.
Hey, pay me to, to yourcustomer.
And this long awaited forpayroll corrections.
You can now adjust your paycheckeven after it's deposited or
(51:18):
your employees paychecks, Ishould say.
You, just can't adjust it iftaxes have been already paid,
right?
So if if you've already made thedeposit to, to pay the The tax
payments to the IRS or the stateor what have you, then you won't
be able to make adjustments tothe paycheck, but you can make
(51:41):
adjustments to a check, even ifit has been deposited.
So you can just make those editswithin there.
Of course, if it changes the netof the pay the paycheck, you
definitely want to make sureyou're communicating that to
your to your employee doingthat.
But this is a step in the rightdirection to be able to make
(52:02):
your paycheck adjustments orpayroll adjustments within, with
inside of QuickBooks OnlinePayroll.
I forgot to end the poll here.
And this other one is a reallygreat one, which is the role
based access to client's books.
Transcribed I think I'm tryingto remember.
(52:24):
I think it was July or April of2020 when Intuit announced that
the yearbook section of QBOA wasalways plus up to that point,
was finally getting, Onlineadvanced functions inside of the
(52:44):
yearbook section of QuickBooks.
And, the one of the things, thelast thing to make its way into
that is the roles causeQuickBooks online advanced had
these various other roles andcustomizations that you can do
(53:05):
with, regards to, team access.
And that was always a stickingpoint with with your team, when
you invite a team member insideof QuickBooks into your firm,
there was just a basic, full,and a custom, which really just
gave them access to, the,company admin side of things are
(53:27):
managing the subscriptions andthose types of things with all
you could do when you'reinviting a team member and give
them it was, a light switch asfar as the role is on or off,
Michelle Long (53:39):
all or nothing,
Dan DeLong (53:41):
and this was now this is, mirroring the role
based permissions fromQuickBooks Online Advanced.
Inside of the team.
So when you're inviting, oradding a team member inside of
your QBOA you can now give themaccounts payable access on or
(54:02):
off and all of the the variouscheck marks where you can maybe
they're, they need to be anapprover for, bills and those
types of things.
So the bill clerk and the billapprover as well as the standard
accounts for receivable accountspayable.
Customer access and those typesof things.
(54:23):
So this was a welcome change,and really great final one of
the, what took you so long, butit did, it was very complicated
from my understanding of useraccess and they wanted to do it
right.
And they, I from all things thatI've seen so far, this has been
(54:46):
a non issue because it's just Anability to do, these things
inside of inside of your firm,Michelle,
Michelle Long (54:54):
do you know, and I haven't tested it, do the user
accesses, does that the userroles and access, does it also
work on the mobile app torestrict access on the mobile
app?
Dan DeLong (55:09):
I think it's a lot of the, a lot of the
restrictions or the abilities todo inside of the mobile app
requires you to be a companyadmin for a lot of those
functionalities.
I have not actually tested ateam member.
Now you've given me homework.
Michelle Long (55:28):
Sorry, Dan, I didn't mean to.
It used to be, and I haven'ttested it in years.
And so I don't know.
I'm not going to say, because Idon't know.
I haven't tested it in a longtime.
Dan DeLong (55:41):
I'm in my own firm many times, so it shouldn't be
too hard to check it out.
I'll try it out after thewebinar today, and we'll see.
I
Michelle Long (55:51):
haven't done that testing, so I don't know.
Dan DeLong (55:54):
All right, so this Real quick, highlight of those
new functions or features, andthere's, plenty of others to
really talk about and, we'llpick that up in our next one,
next iteration.
But which of these new featuresdo you find most useful?
And I've, I even put the ACHfunding change in there.
(56:18):
Oh, I didn't put it as anoption.
That's okay.
Michelle Long (56:23):
I can't vote but the one on the products in the
bank feed from the perspectiveof purchasing and tracking and
job costing that would be mybest.
I would be excited about thatone from that perspective.
Dan DeLong (56:36):
Yeah, it's a it's like the uncle Ben, with great
power comes greatresponsibility.
I think that is a great ad inthe bank feed.
And and like I said I have,mixed feelings about that.
Because I, I.
I, I tend to see, challengeswith QuickBooks being workflows
(57:03):
are broken, right?
And if they are using workflowsin one area of a estimate to an
invoice, to a payment.
That could certainly be aproblem.
And then if they're using billsto bill payments, and then using
the products and services on theexpense that once that's hit,
that could also be a problem aswell.
(57:26):
But yeah, if you, know whatyou're doing.
Yeah.
If
Michelle Long (57:32):
is the big word in that one.
Dan DeLong (57:35):
Exactly.
Appreciate you joining us here.
My other laptop just rebooted inthe middle of it.
So I don't know if I can stopthe live feed.
Michelle Long (57:47):
Let's see
Dan DeLong (57:48):
about that.
I can stop our recording, butnot the live feed.
Sorry.
The webinar is fine, it's justwhere it's posting on YouTube
and in the Facebook groups.
So I'll probably have to rebootthat machine again and log that
out, but we appreciate youjoining us.
And, Seeing our struggle.
(58:13):
You may struggle more thananybody else.
But Michelle, it was great to
Michelle Long (58:18):
see you.
It's been a pleasure as always,Dan.
You've done fabulous as always.
for all your work.
And thank you everybody forjoining us.
Dan DeLong (58:26):
We'll see you next time on the Power Hour.
Have a great day, everyone.
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