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Grow Your Business Technology

QuickBooks Online Advanced: Best Business Features

Quickbooks Business Features
Credit: Piotr Swat/Shutterstock

QuickBooks Online Advanced, like many cloud-based services, is getting an injection of artificial intelligence smarts.

Intuit says it's making strides to meet the needs of its 1.5 million midmarket customers with new features that enable better reporting features and a series of other controls. The service, which started with a limited release in August, is a step up from QuickBooks Online Plus, with additional features for midsize businesses.

Intuit says that QuickBooks Online Advanced now offers "smart reporting" powered by Fathom, which Intuit says will help users of the software transform their data into "dynamic reports, allowing them to track their business results."

Further, according to Intuit, every subscription includes a license for the Fathom feature. However, to import data into the Fathom tool, your chart of accounts can't exceed 3,000 active or inactive accounts.

Speaking of importing, the newest version enables entering invoice transactions from a CSV file. Additionally, you can now import data from hundreds of invoices simultaneously. The goal is to enable QuickBooks to be more agile with the type of data that can be fed into the system so it can become a centralized hub for accounting professionals.

QuickBooks Online Advanced also added a feature called Custom User Permissions. With it, you're able to apply permissions for delegating access to other team members. QuickBooks lists specific categories for which access can be granted or restricted: sales transactions, expense transactions, sales reports, expense reports and bank deposits.

In total, the key overall benefit that Intuit hopes will sway customers to remain with or sign up for the platform is the emphasis on machine learning. After the first introduction of QuickBooks Online Advanced in August, it appears that a steady stream of feature enhancements could be on the way.

When unveiling the service, Intuit touted a dedicated customer success manager, primary care and free online training among the benefits to those who needed more than QuickBooks Online Plus.

It's an important set of updates as QuickBooks seeks to keep peace with NetSuite and other competitors. Businesses want their software to get smarter, which is why services that are cloud-based and applying AI and machine learning are so popular.

For further details, check out the pricing from Intuit to find out if one of its packages is the right option.

Derek Walter

Derek Walter is the founder of Walter Media, which offers writing and content strategy services. He is also the author of Learning MIT App Inventor: A Hands-On Guide to Building Your Own Android Apps.