What New Features Have Recently Been Added in QuickBooks Enterprise

QuickBooks Enterprise, one of the most powerful accounting solutions on the market, has introduced several new features recently that can significantly enhance business operations. These updates are designed to streamline processes, improve data management, and enhance overall user experience. 

Let’s explore the latest features added to QuickBooks Enterprise, highlighting how they can benefit your business.

Class List Search Enhancements

The enhanced class list search functionality in QuickBooks Enterprise allows users to find specific classes quickly within their records. This feature significantly improves the efficiency of managing and organizing data, especially for businesses with extensive class lists. Enhanced search capabilities mean less time spent on administrative tasks and more time focusing on core business activities.

By enabling quicker access to specific classes, this enhancement also helps in generating more accurate and timely reports. Businesses can now easily filter and locate the necessary information, which is crucial for decision-making and strategic planning. The improved search function is a valuable tool for maintaining organized and easily accessible records.

Prepayments on Sales Orders and Estimates

QuickBooks Enterprise now allows for the easy recording and tracking of customer prepayments on sales orders and estimates. This feature is particularly beneficial for businesses that require upfront payments before fulfilling orders. It streamlines the process of applying prepayments once an estimate or sales order is converted to an invoice, ensuring that financial records are always up-to-date.

This functionality not only simplifies the accounting process but also enhances cash flow management. Businesses can more accurately track their receivables and manage their cash flow by having a clear view of prepayments. This ensures that there are no discrepancies in the financial records and that all transactions are accounted for correctly.

Inventory Turnover Report

The new Inventory Turnover Report in QuickBooks Enterprise provides clear insights into the turnover ratio of inventory items and the number of days it takes to sell them. This report is crucial for businesses that need to manage their inventory efficiently. By understanding the turnover rate, businesses can make informed decisions on reorder points, quantities, and pricing strategies.

Having access to detailed turnover reports helps businesses avoid stockouts and overstock situations, ensuring optimal inventory levels. This feature supports better inventory management practices, leading to cost savings and improved customer satisfaction due to timely product availability.

Learn why QuickBooks Enterprise is the best inventory management software.

Integrated 401(k) Plans with Guideline

QuickBooks Enterprise has integrated 401(k) plan options through a partnership with Guideline, allowing users to offer retirement benefits to their employees seamlessly. This feature simplifies the process of setting up and managing 401(k) plans, ensuring that payroll deductions and contributions are handled automatically and accurately.

Offering a 401(k) plan is a significant benefit for employees and can help businesses attract and retain top talent. The integration with Guideline provides an easy-to-use platform for managing these benefits, reducing administrative burden and ensuring compliance with retirement plan regulations.

Intercompany Transactions

The new intercompany transactions feature in QuickBooks Enterprise allows businesses to create and manage transactions between multiple company files. This is particularly useful for businesses that operate multiple entities and need to keep their financials synchronized. The feature enables the automatic recording of transactions such as vendor bills and company checks between related entities.

This functionality reduces the need for duplicate data entry and helps maintain accurate financial records across all related companies. It simplifies the process of managing finances for multi-entity businesses and ensures that all transactions are properly recorded and accounted for.

Payment Links Tracking

QuickBooks Enterprise now includes improved payment links tracking, allowing businesses to quickly collect payments for items that do not require an invoice. This feature is useful for collecting payments for initial consultations, advance deposits, and other non-invoiced transactions. The new payment links dashboard helps users monitor the status of payment requests and send reminders if necessary.

This feature streamlines the payment collection process, making it easier for businesses to receive payments on time. It reduces the administrative burden associated with tracking and managing payments, ensuring that cash flow remains steady and predictable.

Equifax Verification of Employment and Earnings

QuickBooks Enterprise has partnered with Equifax to automate the verification of employment and earnings for employees. This feature is integrated with QuickBooks Payroll, allowing for secure and accurate verification through Equifax’s channels. It helps streamline processes such as loan approvals and credit applications for employees by providing quick and reliable verification of their employment and income information.

This integration reduces the administrative effort required to provide employment verification and ensures that employees can access necessary financial services without delays. It also enhances the overall efficiency and accuracy of payroll and HR processes.

For more information, explore the 20 reasons to use QuickBooks Enterprise.

Get Started with QuickBooks Enterprise

If you are ready to enjoy the benefits of QuickBooks Enterprise and streamline your business’s financial management, talk to us at Paygration. We offer exclusive discounts on QuickBooks Enterprise and provide free consultation and ongoing support. To get started, call us at 866-949-7267 or click the link below.