Who wants to open a gift to reveal something shiny and unique?

Certum Solutions works with business owners to make their lives easier by setting up and implementing custom versions of QuickBooks that help our client’s companies grow. Out-of-the-box solutions are not realistic, especially with all of the industry niches we work with, including manufacturing, construction, retail and e-commerce, and nonprofit.

Here are several of the new features and improvements in QuickBooks Online and related products.

Managing 1099s in QuickBooks Online

If you have contractors who earned $600 or more in 2023, then you’ll need to issue a 1099 to them by Jan. 31, 2024. Here are four improvements to managing 1099s for your contractors:

1. New workflow: You can now prepare 1099s in just three steps.

2. New reports: Two new reports are now available that give you insights into the transactions that should be included in your 1099s.

3. Paying for e-filing: While preparing a 1099, you can add your own payment method for e-filing 1099s without impacting payments for other QuickBooks Online products.

4. Free corrections e-filing: You can e-file corrections directly from QuickBooks Online for $0 added cost. This is important due to new IRS regulations about filing 1099 corrections.

Project-based reports in QuickBooks Online Advanced

Certum Solutions’ clients are on QuickBooks Online Advanced for a reason: Your company is large enough to need additional bells and whistles only found in Advanced.

Three new reports will undoubtedly help you get more performance insights to keep project profitability on track:

1. Work in Progress

2. Invoices vs. Estimates

3. Estimates vs. Actuals

These built-in reports are designed to give you real-time project information at any point in that project.

Expense report changes in QuickBooks Online

Several new options and a simpler view are now available to generate expense reports in QuickBooks Online. These changes enable you to see options for filtering within the report header, a clearer display of your report options and a central location to customize reports.

Subdivided budgets in QuickBooks Online Plus and QuickBooks Online Advanced

If you’re business is not on a budget, then it’s time you get on one … and Certum Solutions can help you with all kinds of budgeting considerations, including “complex” budgets.

Say goodbye to budget spreadsheets! You can do this right in QuickBooks. To create budgets in QuickBooks Online Plus and QuickBooks Online Advanced for multiple subdivisions of a business, you can now import budgets for subdivisions, including classes, locations, or customers.

Here are four steps to import a subdivided budget:

1. In QuickBooks, choose your budgeting period and subdivision.

2. Download the custom template based on your choices.

3. Add your existing budget data to this template.

4. Re-upload the completed template into QuickBooks to import and work with your subdivided budgets.

Claiming tax credits

We’ve all seen promos for tax dollars that are left on the table by businesses that had no idea these credits even existed. To help claim tax credits, QuickBooks has partnered with MainStreet in a program that will be available in January 2024. As this program continues to roll out, Certum will keep you in the loop on how to find lost credits.

Got Questions? Certum Solutions has Answers!

Whether you’re one of our customers or currently operating without Certum Solutions, we can help you reach your goals by providing custom solutions on all kinds of businesses. Nothing is ever a cookie-cutter solution for us; we listen, first, and then come up with a plan to help you for the long term.

Contact us today for a free consultation. Good luck!

(Images: Courtesy of QuickBooks)

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