I’m still floating through the clouds (quite literally, as I’m writing this from a window seat on the plane) on my way home from Scaling New Heights, where I was awarded Insightful Accountant’s 2024 Top Client Services ProAdvisor. And I’ve been thinking about how lucky I was to stumble into bookkeeping and accounting as a profession, and how much the support and education that QuickBooks provides to its ProAdvisors has played a part – not only in our team’s success, but also our clients’.
There are so many conferences, webinars, colleagues, apps, and tools that have helped me find this path, but unquestionably one of the most valuable has been our free subscription to the ultimate QBO client services tool – QuickBooks Online Accountant (QBOA). My team and I rely on its capabilities daily, and I can’t imagine running our practice without it. We reduce time spent on manual tasks, as well as review our clients’ books for accuracy and insights… basically a level-up on the already-robust basic subscription, with a version that’s designed for professionals who serve multiple clients.
Why does Intuit give us an accountant-specific bells-and-whistles version of QBO for free? Couldn’t they make a bunch of money selling this to us as an add-on? For sure… I see that angle, and I often worry they’ll switch to that approach someday. That’s how it was set up for QB Desktop – you had to pay to be a QBDT ProAdvisor, which gave you a special multi-client version of the software that allowed you to make edits and adjustments to client books and sync them between your system and theirs. But as you know… QBO already lets you do that, by the nature of its being cloud software-as-a-service, and so the extra bells-and-whistles aren’t as expensive to maintain as their Desktop counterparts. And having small business owners’ books prepared or reviewed by professional bookkeepers makes those businesses more likely to thrive, succeed… and remain in the Intuit ecosystem. It’s a win-win.
If you’re a professional bookkeeper or accountant and are interested in becoming a ProAdvisor, I can’t recommend it highly enough. The education available through the Training portion of the ProAdvisor space is wonderful, especially combined with the monthly QBO In The Know sessions and Alicia Katz-Pollock’s Insightful Accountant QB Talks – a whole world of potential awaits. And a key to unlocking that potential is using QBOA, which you get for free as a part of the ProAdvisor program.
But I’m surprised at how many bookkeepers, even those who are already ProAdvisors, don’t realize how powerful a tool QBOA is. So I wanted to highlight my favorite things about it that I use all the freaking time.
Accessing all your clients’ books from one login
This may sound obvious if you’re a regular QBOA user, but honestly – how many other SAAS packages let you do this? We use countless apps and banks with our clients, and with the exception of a few (heaping blessings here onto Relay, Gusto, Guideline, Bookkeep, and Synder), we’re constantly having to log in and out of them when switching clients. QBOA lets you do this with one simple toggle. Side bonus: all our team members are associated with my account, so they can also have their own QBOA login (and therefore their own list of clients) if they’ve simultaneously got their own side-hustle or company, something common in our particular staffing set-up as well as with companies that co-firm.
ProAdvisor-specific training
I’m a huge fan of lifetime learning, and QBOA makes this easy. When I was on QB Desktop, I struggled to find training that was specific to bookkeepers working with multiple clients (rather than material that focused on end-users). In the QBOA portal, they suggest a personalized training path, provide self-paced study materials, videos, and links to live trainings. It also keeps track of your certifications and suggests new ones.
Client Overview
When doing a diagnostic review of a potential client, you should have them invite you as an accountant-user. Once that’s accepted, you can go into their books – and because of QBOA, you’ll have access to a Client Overview page, which gives you a sense of how much work it would take to bring them up-to-date, summarizing the most important points about banking activity, common issues, and transaction volume. For us, it’s an absolutely essential step that helps us determine whether we’re interested in working with the client, and if so… how much to charge for a clean-up and ongoing services.
Books Review ➡️ Transaction Review
Just below the Client Overview on the left-nav bar is an unassuming little item called “Books review”. Click into that and you’ll find a series of headers – the first of which, “Transaction review” is my favorite. It’s like QBOA is your junior accountant, digging through the books to find unaccepted bank feed transactions, uncategorized transactions, transactions without payees, undeposited funds, and unapplied payments. And it transports you to where you can actually fix a lot of these problems on behalf of the client (or you can give them a heads-up and ask them to DIY before you dig into your review). Until this feature was developed, we literally had folks combing through transactions – and there was no transparency into how bad things were in each area, which meant we didn’t know how long it would take us to go back-and-forth with the client to get things fixed… and this is before we even are taking care of reconciliations and reviews – truly foundational stuff that needs to be addressed right off the bat so that the books are in good-enough shape to address the big issues. I don’t want to use the phrase “game-changer” because it didn’t change the game… it moved us into a higher league of play.
Books Review ➡️ Account Reconciliation
Account reconciliation is the header just to the right of Transaction review, and it performs the next round of what we would normally ask a junior accountant to do – it shows the current status of each of the bank accounts, in terms of when they were most recently reconciled, as well as the number of and a list of unreconciled transactions. You can access reconciliation reports from here, look at the most recent statement if it’s in the system… and it doesn’t limit you to bank and credit card accounts; if you reconcile any of your Balance Sheet accounts, you can see this info, as well as link to them from here.
Accountant Tools ➡️ Reclassify Transactions
And what do you do once you’ve used Books Review to identify the myriad issues? This is where it gets really good, in my opinion. There are quite a few tools for accountants that are included in QBOA, but one in particular was a total game-changer when it was first released however-many years ago. And it’s just gotten better through the years. We have access to a tool called “Reclassify transactions” that our clients don’t get to use (just think of the mess they could end up making if they did). It allows us to filter transactions by type of financial statement or down to the specific account, and then also by date, type, and customer/ vendor. Once you’ve pulled up a list of all the transactions that fit your filters… you can reclassify or recategorize the ones you select. All at once. In a batch. You can even select just the ones that have a particular word in the memo (and with RightTool, another favorite tool, you can even filter by that word, or by a dollar amount or range)! It’s truly the most incredible feature, especially for cleanups. You can get quite granular with your filters and fix massive issues in a matter of minutes. Talk about a value-add.
Bonus! Chart of Accounts templates
I’m adding it as a bonus instead of one of the main features because it’s newish, so we haven’t yet had an opportunity to use it a ton – but I know it’s going to be a favorite. To be honest, this is one of those things that for years felt like it was just a missing feature; we used countless workarounds to standardize our clients’ Chart of Accounts, or at least make sure they all fit the format we use when preparing Tax-Ready Books (my passion and focus when providing education to bookkeepers). Intuit finally announced this feature at QB Connect last year and you should have heard the room burst into applause! The one trick to keep in mind is that you access the area where you build (or import, your choice) your templates from “Your Practice” as a QBOA user, not from each client. If you go to “Accountant Tools” while you’re in your ProAdvisor space, just after you log in – like where you’d go to get your Training – that’s where you see this option pop up in your toolbox. From there, you can get a video overview or take a guided tour. Once you’ve got your templates in there, you can assign them to a client or update their existing COA. Finally, wee-hoo!
And More…
There are other great features of QBOA that I know some of my colleagues adore – both ones that have been around for a while like reporting tools and app integrations, and newer ones like role-based access and permissions to clients’ books. But I meant to only list my top five and couldn’t do it under six, and then I wanted to add a bonus, and eventually this article will have to end or none of us will ever be able to get back to work and dive into the benefits QBOA offers. Enjoy!
Note! As my readers know, I am downright fanatical about transparency and full disclosure (often to my detriment, as you may have noticed that I have a wildly popular award-winning blog that is non-monetized). Though this particular post is a paid partnership with Intuit, I want you to know that a) I wanted to write an article on QBOA anyway, but couldn’t find the time; getting paid allowed me the break from client work I needed to make it happen; and b) they didn’t delete a single thing when I presented it. In fact, they have been totally cool with all my Intuit-bashing since the first article I wrote for them… which impressed me quite a bit, to be honest. That’s three times now — I might just keep this win-win-win up.
