QuickBooks Online Advanced includes all the core accounting features of QuickBooks Online—but is enhanced with more powerful tools, such as batch invoicing, multiple-user access (up to 25), visual cash flow, and customizable business analytics.
Let’s take a look at the enhanced features of QuickBooks Online—in addition to some new features for 2023—that will help you increase your business productivity.
Custom Report Builder
QuickBooks Online Advanced includes hundreds of pre-built reports, such as the Invoice Report and Expense Report, that you can run anytime. However, you can also create your own report based on your specific needs. You can start by using the report creation wizard to create a template. For instance, if you wish to create custom invoice reports, simply type Invoices in the Report Creation Wizard search bar and the system will automatically provide starting points to create your reports about invoices (i.e. invoices by account and invoices by paid status). Once you create your report, you can further customize it by adding and rearranging the columns and including or removing any specific data on the invoice. You can literally control how your customized report looks.
Enhanced Custom Fields
QuickBooks Online Advanced allows you to create more detailed and extensive reports with multiple field types. You can add up to 48 custom fields, 12 for customer profiles, 12 for vendor profiles, 12 for purchase orders and expense forms, and 12 for sales forms. The other QuickBooks Online plans allow you to add up to three custom fields only. Custom fields are important as every business is unique. You may have to add custom fields in your invoices depending on your industry (i.e. labor fees for construction companies, donor ID for nonprofit organizations, and case number of law firm).
You can manage all your custom fields in QuickBooks in a single dashboard. The custom fields page shows which category each custom report applies to and which forms include it.
Business Analytics with Excel
If most of your reports are done in spreadsheets, then good news because you can now connect Advanced and Excel. Advanced allows you to import your data in Excel in bulk, view and work with the data how you want and then sync it back to QuickBooks. Advanced provides pre-made templates to help you save time, and you can also build consolidated reports for multiple companies.
QuickBooks Online is known for its powerful invoicing solution, but Advanced takes it one step further with its batch invoicing feature. You can create and send multiple invoices in one go, instead of having to fill in forms individually or sending invoices one by one. If you have multiple customers, then you can simply duplicate similar invoices—helping you speed up your invoicing by 37%.
Enhanced eCommerce integration
With QuickBooks Online Advanced, you can connect as many stores as you want in Shopify, Amazon, and eBay—as opposed to Simple Start, which only allows one store connection. If you have multiple sales platforms, then you can all manage them in Advanced, with the ability to match customer payments with bank deposits with automatically separated income, fees, and taxes. To track profitability, you can run expense reports and generate cash flow forecasts.
Premium App Integration
Get more work done by connecting Advanced with premium business apps, such as Bill.com, LeanLaw, HubSpot, Salesforce, and Centage. These integrated apps let you simplify your workflows depending on your line of work. For instance, QuickBooks Online doesn’t offer LEDES billing for law firms, but you can integrate it with LeanLaw to develop a powerful legal billing and accounting solution.
If you want to learn more about what Advanced can do, read our article on the benefits of QuickBooks Online Advanced.