Friday, 23 October 2020 11:37

Intuit QuickBooks makes month end review more manageable

By Intuit Quickbooks
Natira Drayton, Intuit Australia Vice President and Country Manager Natira Drayton, Intuit Australia Vice President and Country Manager

SOLUTION ANNOUNCEMENT: Eliminating common pain points faced by accountants and bookkeepers when carrying out month-end book review is the goal of a new AI solution from Intuit QuickBooks Australia.

‘Month-End Review’ provides a more time efficient and standardised process that simplifies the usual manual process undertaken by these small business advisors, giving them the confidence they’re closing clients’ books in a way that is complete, accurate and audit proof.

Using AI, the tool helps advisors easily identify common issues in client’s books, as well as uncovering hard-to-find anomalies.

“There’s no doubt the role advisors play for small businesses is more important than ever right now, and we’re doing our part by building new tools and providing extra support through features like Month-End Review to save time and simplify processes,” said Natira Drayton, Intuit Australia Vice President and Country Manager.

Month-End Review enables advisors to easily track the reconciliation status for each client. Accounting firm managers, for example, will be able to see the progress made and make sure all clients’ books are completed on time.

Unlike tools like Microsoft Excel, which many accounting professionals still use, Month-End Review is available within a client’s books, rather than externally. This allows mistakes to be quickly fixed and makes sure reports can be run easily.

In the near future, Intuit QuickBooks plans on extending the new Month-End Review offering. This will include identifying uncleared expenses, payments, deposits and credits, and other ways for advisors to help businesses come up with a plan to pay their suppliers, get paid by customers, consider a write-off, or just resolve a clerical error.

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