February 2025 QuickBooks Updates

There may be errors in spelling, grammar, and accuracy in this machine-generated transcript.

Alicia Katz Pollock: In this episode of the unofficial QuickBooks accountants podcast, I'm joined by Matthew Scott Fulton, and we are going to do this month's In the Know from Intuit. That's their monthly webinar where they talk about the new features and we call this segment now, you know, inside our podcast world. So spot, how are you doing?

Matthew "Spot" Fulton: Doing amazing. Thank you for having me back for this session. [00:00:30] I'm excited. Uh, there's a lot of cool stuff covered. I think the listeners are really going to enjoy this conversation.

Alicia Katz Pollock: Yeah, I was really happy about all the news and a lot of it's new news too. So yes, yes, let's go ahead and dive in. The first thing that they talked about. Well, actually the first thing that I want to do is I want to give a welcome back to Leah Hartman. I don't know if this was just a one time substitution, but Leah has been the host in the past, and Jacqueline, who has taken [00:01:00] it over and been doing a fabulous job. But it was nice to see Leah pop up and hear her voice again.

Matthew "Spot" Fulton: Yeah, Jacqueline is actually doing what we all need to do at times. She had some time off with her family, so she's expected to be back the next episode. But um, hopefully she got some great time, some great rest, and we look forward to seeing her on the next, next session.

Alicia Katz Pollock: Excellent. Okay, good. The first topic was revenue share on QuickBooks payments and what that means. What revenue [00:01:30] share means is that inside QuickBooks online for accountants, there now have a section that when you sign up your clients for any QuickBooks services, they're now giving us residual payments for those attachments, whether it's software, but now it's QuickBooks payments. Now myself, I've been turning to shops and spot. Do you want to talk about what a qsp is?

Matthew "Spot" Fulton: Yeah. So that's a QuickBooks solution provider, and there's quite a few different people. Well, we [00:02:00] all have our own different QuickBooks solution provider. When when you sign up to be part of that program and it allows you the ability to kind of resell their products for the longest time. One of the best benefits has been reselling merchant processing. So Alicia, that's kind of where the change is with all of this, right? That they're opening up larger, would you say?

Alicia Katz Pollock: Yeah. For years, every time that I've signed up any of my clients for QuickBooks payments, Merchant Services, I've always gone out to my QuickBooks solutions provider, [00:02:30] which was complete business group. And the reason why I was going out to them was because I would get residuals on the money. And so now Intuit is unfortunately trying to claw that back from the from the all the shops, which I have mixed feelings about. I actually don't like, but the fact that if you're not with a solutions partner, that everybody now gets those those residuals. And I think that is really awesome. So what this basically [00:03:00] means is that when you push the button to connect to your clients and sign them up for QuickBooks payments, your clients get discounted rates. If the client signs themselves up, they get retail. But if we sign them up, they get a smaller percentage. It's generally like 0.2% less than the retail rates. And the really cool part is that they're now giving us 20% of the net revenue of the clients processing fees for three years [00:03:30] now. Keyword. Net revenue.

Matthew "Spot" Fulton: Keyword. I'm glad you pointed that out. That really is an important part, because that's going to be the difficult part that we're we're not able to really see into this. You know, I second your thoughts on as a person that's already been enrolled with a qozb, we're able to set up. And when we're talking about payments that were just to be clear, we're talking about the merchant processing side of it. So when you're running your your invoices, everything else through it, you're able to capture money off of [00:04:00] it. I the biggest thing I really like about this is we've all had clients that have already been set up with merchant processing. So if you already if you're a qsp or not, you can't really couldn't really touch those people. But even if you help get your clients set up under you as an accountant and they already have it, you can help them get additional savings on their ACH fees and the merchant processing stuff that we're talking about. I don't think it includes the net like the the payment revenue share. Unfortunately that's only new accounts. But [00:04:30] they're making all this easier so you can help your clients save some money. And why not get a little piece of the pie for the new connections? Yeah.

Alicia Katz Pollock: Now, you just brought up a question that I have is I don't I historically, if they already had it, you're not eligible to get the discounts now. So this mostly would be for new signups.

Matthew "Spot" Fulton: Well they've they've talked about it in the past. So maybe we'll have to. I can do a double check for our next episode. Um, specifically for accountants that if we reach out and help them through the back end talking to support, [00:05:00] you can connect them to merchant processing. This really was talked about especially with like the ACH fees, the percentage of what they would do, like the maximum wise that they could start to have maxes there that were a little bit less to save the client money. But I want to stress when I'm talking about this, the benefit that we receive is we're doing a good deed for our clients. There is no revenue share on that aspect of it, right?

Alicia Katz Pollock: So my assumption is that this is for new attachments, that you can't go back and [00:05:30] get this new benefit now. But like you said, sometimes you can make a phone call if you have a client who has already been has an established history, sometimes you can call in and get lower rates for them if they're a really if they've really, really big ticket items, you can get your percentages lowered.

Matthew "Spot" Fulton: Absolutely. They'll even like when you have other companies trying to take them away. If you get a quote and it's that much lower, you should still run it by, um, our merchant processing. And I've seen many, many times they'll match the quote.

Alicia Katz Pollock: Nice. That's really cool. Now [00:06:00] going back to that comment about net revenue, since I've been working with Complete Business Group, I have attached all of my clients through that, and it really is pennies on the dollar. It's not 20% of the merchant service fees, it's 20% of the profit after all the expenses of those merchant service processing. So whatever profit Intuit is getting off it, they're giving you 20% of that. So my experience has been [00:06:30] that I've been cbgs top merchant service. Um, I've got like little awards for it. They give me every single year because I've attached all my clients through them. But that seriously comes from me to like 600 bucks a month in free money Because I sent all of my clients through CBG for the merchant service signups. So this is a way for everybody who's not part of CBG or any of the other shops to also get agreements [00:07:00] like that.

Matthew "Spot" Fulton: Yeah, I recommend reaching out to people, you know, there's multiple different ones. Cbg is a great one. There's there's other ones I work with as well. Find out about that. Also look into this. It's that extra little envelope money, right, that you can use and you're not having to work hard for it.

Alicia Katz Pollock: Yeah, absolutely. A couple shout outs to a couple different shops. Brandon Morris that's mine. Hector Garcia, um, Keith Gormezano. And when we talk about shops, basically back in the day, going back 20 years, [00:07:30] shops were other people who could sell QuickBooks software and all of the solutions products. And so it there was this whole sub economy instead of just going straight through into it. And so it still exists today.

Matthew "Spot" Fulton: Love it.

Alicia Katz Pollock: All right, next topic. Quickbooks Live expert cleanup. Do you want to take this one?

Matthew "Spot" Fulton: Yeah. So this this was an interesting one. Um, QB live, if you don't already know by now, [00:08:00] it's it's sticking around. It's not going anywhere, folks. What? They they've basically had some time now to evaluate how long it's been taking them to do a cleanup for a prior tax year. So in other words, we're talking about for like 2024. Uh, they're not specifically saying like they can do multiple years this way, but it usually takes them as few as 14 days from the point in which. And this is the important part, folks, because we have the same issue in our world, we [00:08:30] they get all requested documentation. Ding ding ding ding ding ding ding. Like we can't do anything faster, folks. We don't get it, but I digress. So they're starting to offer this to as a way to maybe free up some of the capacity for different For firms. So if you if you've got people that are coming to you, you can actually outsource it to them to do some of the cleanup stuff. And you could be focused on maybe some of the higher level aspects of it. But at least I don't know about you. I mean, I think this is a great service offering, but that's truly kind of where we make some [00:09:00] good money usually is the cleanups, I think.

Alicia Katz Pollock: I mean, that's my bread and butter at this time of year. They didn't say at all how much it costs in this. They just so there was there was no spec on on how much it costs. So I don't know if it's cheap or if it's expensive. You know, this is what I do at this time of year, that because so many accountants just assume that the burden of making sure the books is accurate is on the business, that when a business gives their PNL and balance sheet and QuickBooks access to the to [00:09:30] the CPA, a lot of the time they just import it into their software and they don't even look or they'll like, go look at meals and entertainment and make sure it's not owner drawer. And that's about the size of it sometimes. And I love it when my clients come to me. We do a cleanup before tax prep, and I did this in my year end. I call it a spring cleaning. In my year end cleanup for taxes course, I show my my ten step process for how I do this, and it makes me wonder, knowing that for me, [00:10:00] sometimes this is hours and hours of work, and it takes forensics to figure out what's actually going on in the file. I'm wondering who these live cleanup experts are. And are they the people who have deep experience and 20 years of experience, like you and I? Or are they, you know, is it? Hopefully it's not. The newbies like this really takes expertise to not just identify where the data is bad, but why it's bad and [00:10:30] then how to fix it, you know, are they calling cleanup, just reconciling the last a year's worth or are they looking for double revenue and are they looking for are issues and AP issues?

Matthew "Spot" Fulton: They better have names on every transaction too, because if they don't, I'm going to get grumpy is one thing I kind of feel like, you know, we used to always joke about the shoebox full of receipts. Now we have software as the shoebox at times, because it's like if you just connect it and it's just sitting all there. It's a digital shoebox full of a mess that [00:11:00] we still have to, like, comb through. And there's a right way and a wrong way to do it for sure. So I'd love to hear from feedback from listeners in the future of what they see from this. If they've seen good work and how pleased they were.

Alicia Katz Pollock: Yeah, I would love to hear from people who are either doing these expert cleanups or having or using the service so that we can find out more information about it.

Matthew "Spot" Fulton: So this next one, Alicia, is something that I'm we're going to start talking about some payroll stuff. Right. And [00:11:30] I think it's pretty interesting what's coming up. Um, the first one talking about, like, direct deposit reversals. What did you think about this?

Alicia Katz Pollock: I was really excited to find out about direct deposit reversals. So the idea is that if you have already processed your payroll and it was direct deposit, it is now possible in some cases to get it back.

Matthew "Spot" Fulton: Yeah. So there's some definite caveats to this on how it's done. Um, I listened to all the different questions people were asking, and we'll kind [00:12:00] of get to those maybe in just a second here. But this had the most questions out of everybody. So if you like, you just said if you run a direct deposit, you process it through and then the next day you're like, oh my gosh, I made a mistake. I didn't do this right or that right or so forth. You have any. This is supported both in the United States and Canada. In the United States, you have up to five days from the day in which the payment was processed. In other words, people were asking about this. They're talking about basically that that payday. So let's say you run payroll on Monday, but the payday [00:12:30] is actually Friday. And the payment goes out that like that Friday. They're talking about five days from that Friday. Business days, business days for the United States, four days for Canada to be able to reverse this part.

Alicia Katz Pollock: Now, the times when you might need to do this is maybe you had a duplicate payroll. Maybe the amount was wrong, maybe there was a timing issue and you misstated your payroll, or maybe you initiated it out of the wrong bank account, or maybe you sent it to the [00:13:00] wrong bank account for an employee. And in any of those cases, it used to be that you had to go fill out a form and go to corrections and wait for Intuit to do it. Now you there's actually an option when you look at the payroll list and you look at the list of paychecks, the dropdown on the far right hand side now has an option for reversal. And you can also do it in bulk. You can reverse everybody's all in one shot.

Matthew "Spot" Fulton: Those are great points. The other things that kind of changed a bit. It used to be they [00:13:30] would charge you $75 to do the reversal. So if you're doing it in platform instead of the old ways, you'd have to go to this program called Quickbase and you'd have to submit it there. It would cost you 75 bucks to do it, but now if you do it in platform, they don't charge you anything and there's no longer a minimum amount for it to be done. So the whole conversation around that before was, if it's going to cost you $75 to do this, and the check is less than $75, why are you doing it? They [00:14:00] removed the minimum amount to kind of align with this, but they do have a list of reasons, if I remember correctly. Like you have to select certain reasons that you would actually need to do this reversal. And if you don't align with those, you're toast.

Alicia Katz Pollock: It was the ones that I that I just listed out. The ones that I just listed were the oh thank you. Yes, absolutely.

Matthew "Spot" Fulton: So if though if you don't align with those then you need to still talk with the employee itself.

Alicia Katz Pollock: Now interestingly, I'm working right now [00:14:30] on my 2025 Quest to Complete QuickBooks training textbook. And I was just doing the payroll chapter last weekend, and I discovered this reversal on my own when I was going through the through the chapter. And so I knew about it, like just for a couple days before this big announcement of it. But all the help documentation still says that there's a $75 fee and a minimum payment of $50. So when they said that yesterday that there was [00:15:00] no fees either there, either that was not right or the documentation has not caught up because right now the help files all still list the fees, so pay into it. If you're listening, you might want to go look into that.

Matthew "Spot" Fulton: They did specifically state you have to do it in platform for that change. So the fees if they go the other way. So I think you're right. It probably is a documentation thing. Um, they did also mention so people ask questions like can you do this for subcontractor payments. And at this [00:15:30] time, it's just paychecks. They're interested here. People's need for doing it for subcontractor payments. But it's just paychecks currently.

Alicia Katz Pollock: Okay. As far as taxes go, basically what you're doing is it's acting as a void. You're voiding the payroll. So it's going to reverse all of the tax implications and pull all that back. And then you just start over again with your next payroll run. Now here's another big caveat. It may not go through. Just because you do a reversal does not mean [00:16:00] you're going to get the money back. It's dependent on the banks. It's dependent on whether they drew out that money. If there's not enough money in the person's bank account, they can't give it back to you. So there's no guarantee here. And there's also right now there's not much of a communication system. So you put in the reversal, but you don't actually hear anything. You just like look in a couple of weeks to see if it succeeded or not, but the very conscious that that's not [00:16:30] okay. That so there will be implemented shortly a communication system. But right now you don't know anything. Right now it's like, did the money come back yet? No not yet. And if it doesn't come back, then you have to work directly with the employee and have the employee give you the money back. So there's still a little risk here.

Matthew "Spot" Fulton: That's, that is a bit of a concern. So but I still I've had times where this would be really powerful to do. So I'm excited for that side of it for sure.

Alicia Katz Pollock: And [00:17:00] that's one of the major complaints that people have had over time about QuickBooks Online Payroll was that it was so restrictive as far as deletes and voids and managing past payroll. And now this is just one major, yet another major step forward that is bringing QuickBooks Online Payroll completely parallel and comparable with the other major players. So kudos QuickBooks online. I'm actually a fan of I love QuickBooks Online Payroll, and for the people who complain about it, you really need to check in about it, because it's [00:17:30] not at all the same as it was 2 or 3 years ago. They completely revamped the interface two years ago, and they've been freeing up all the restrictions rapidly in the last year.

Matthew "Spot" Fulton: Major, major improvements. I've mentioned before, my favorite trifecta is QuickBooks time. Quickbooks Online Payroll with QuickBooks Online Advanced, all three pieces like working in Harmony, is just gorgeous. Alicia, can I tell you about the thing I'm most excited about with the updates for payroll, though? Like this is something I wanted years [00:18:00] ago.

Alicia Katz Pollock: What's that?

Matthew "Spot" Fulton: Customized consolidated payroll reporting and what this means for the longest time, if you when you're running payroll, you get the ability you can click a button, you can print or export your list of reports, and you choose the ones you want for that pay period, right? If you didn't do it right, then you had to like, know the fancy trick with the special URL to go back and make it pop it out, or you had to rebuild it all yourself, one at a time. Not anymore. Now you can actually go and select this at any point [00:18:30] in time. I should rephrase that. There's some limitations. I think it was like back go backwards six months. Let's say you processed your payroll. If you forgot to do it or you made changes, you need to reprint it again. You can click to export the consolidated report, and it comes out in a single Excel file with multiple tabs. I didn't have to do like custom macros to combine them together. It's oh, sorry, I'm getting like this is cool.

Alicia Katz Pollock: So yeah, it's pretty cool. So so basically kind of in in a nutshell [00:19:00] that when you run payroll right at the very end before you, before you end it, there was a button that said run payroll reports. And then when you click that button, it pulls up a total cost report, a tax payment report, and then some options for tax and wage summaries. Tax liabilities. Total pay. Payroll summaries. Payroll summary by employee deductions and employee details. And those were all available right then. And when you look at [00:19:30] five of them are checked off by default, there's another four that you can choose. But every time I run payroll, I run that and I go through and I check them all off and I save that spreadsheet. And what it does is it creates an Excel spreadsheet with different tabs for all of these reports. So that's why it's a consolidated payroll report. And I have historically always just saved that in a folder and renamed it so that it had the date on it. But if you didn't do it right, then that's what spot was saying is you were out of luck and then you would have to go run all nine of these reports individually. [00:20:00] So now when you go into the report center, there is an option for the consolidated payroll report. And you get those same options, the default five or all nine, and it generates that spreadsheet for you for any date range within the last six months and makes it so super easy.

Matthew "Spot" Fulton: Yep. So this is actually apparently been available since December 19th of 2024, which I hadn't seen it yet myself. And it is available for all regions, they said. [00:20:30] So that's good to know. All regions that you've got your online payroll. You can do that.

Alicia Katz Pollock: Yeah, you do have to be using Qbo payroll. If you're using other payroll, it's not going to work.

Matthew "Spot" Fulton: Yeah, and it's not for desktop either obviously. So because it's QuickBooks Online Payroll reports. Mhm.

Alicia Katz Pollock: Now the file size because it is a spreadsheet is small enough that you can email it. A lot of people on the call put in requests to have it export into PDF or into Google Sheets. So Intuit was actually really interested in hearing that and [00:21:00] I really my fantasy is more than six months. I would love a date range of last year so that I could run all the payroll reports for the previous year when we're doing taxes and w-2s and all of that.

Matthew "Spot" Fulton: Somebody asked about if you could create as like favorite reports where it show up at the top. I don't, I'd have to double check on this one. I thought in the past. One of the challenges with the bear reports is you couldn't combine them into, like, the custom management reports we like to do. So, like, in a perfect [00:21:30] world, I'd like my monthly management report to have payroll summaries built in automatic as well. So I could be sending that out. So I hope that that will become an option in the future.

Alicia Katz Pollock: Well, I mean with that you could just go in and attach all the individual reports. So that would be pretty easy to build. I don't know that they would be able to attach this to that since it's a spreadsheet file, not an actual report. But again, huge, huge win that we can now go back after the fact. [00:22:00] If you didn't miss the chance with that button. And then the the next section of the in the no webinar was updates for Intuit Enterprise Suite. And so Daniel Malinov the PM of Ise or what they call the suite came on to talk about some of the the new things that are happening. And it was kind of a combination of product education, because not a lot of people really understand what it is and how it works yet, and an update on what is new. So just [00:22:30] to let you know if Ise or the suite is not available in Canada yet, it is still us only, but we know that they're going to get there.

Matthew "Spot" Fulton: Absolutely.

Alicia Katz Pollock: Yeah. The big discussion was about dimensions. So that's where he spent most of the time is helping people understand what dimensions are and what's new about them. And dimensions to me are like my computer geek fantasy data dream like I love the idea of dimensions. [00:23:00] I desperately wish they would be available in advanced, but I understand why they're in in the suite to get people to move up to it. So do you want to talk? Just give an introduction. Yeah.

Matthew "Spot" Fulton: You know, I think, Alicia, I think this is an important part, that the messaging on how you define what dimensions are is really important because it's it was a bit complicated to understand how it differs from classes. And in my brain, the way I view it, [00:23:30] you can create your different classes where you can have classes and like subclasses. So think of like if you had a class tree, one tree where they're all connected, like as a single trail, dimensions give you the option between for actually up to 20 different trees of lists of like specific details. So you could have one. The example they use one was like customer type. Um, they had different um, they use different words like earthworks. [00:24:00] I think it would be it's supposed to be like a division of a company in a sense, and you'd have separate lists you could choose from. So when you used these different divisions on your different transaction types both in money in, money out. So invoicing, billing and so forth. You will see on your screen extra columns that you can assign a one of your classes from each of the divisions. Those are hidden to anybody else, but you can internally see them and then do extra reports. [00:24:30] Is that kind of what you got from it as well?

Alicia Katz Pollock: Yeah, the easiest way of thinking about it is that dimensions are just additional classes that you have the same class field that you have always had, because when you move up to is the class that you already had moves over, but now you get additional classes and by default you get four and you can have up to 20 of them. And it's basically just additional class fields. So if you've ever wished that you could have more than one class, that's what dimensions [00:25:00] are.

Matthew "Spot" Fulton: And that's a great way to say it.

Alicia Katz Pollock: Yeah, that's that's really all it is. And so that way you can go by, you can have a dimension for what equipment you're using and whether it's a new construction versus renovations or your employees or whatever, you want to be able to track multiples of. Just imagine having between 5 and 20 classes and you've you've got the idea of it. And the power of this is amazing. [00:25:30] Like, I desperately wish I had more access to this feature. You can do panels by dimension, you can do budgets by dimension. You can even import your budgets for dimensions. And the really cool part is that you can do a pivot table of dimensions against each other. So I love the idea of multiple dimensions and pivot tables, because let's say you're a nonprofit and there's already ways of tricking out your QuickBooks online to track [00:26:00] your nonprofit that that work really, really well. But this would be an additional level on top of that. So let's say you had a dimension for your programs and a dimension for your restricted funds and a dimension for. Maybe it's a church with missions, or your fundraising sources, and your events and activities, or your staff members in charge of different projects. You can assign these dimensions to every single transaction, and then you can run this pivot table and you can say, all right, this staff [00:26:30] member was responsible for these transactions, for these missions. And they all came from these fundraising sources. And then you can pull that all together into a report.

Matthew "Spot" Fulton: I love it. And I you know, my brain starts going crazy with these different ideas of things that could be done. It almost to me, it feels like a much better way of like the the custom field drop down kind of a scenario where you had a dedicated list of things to choose from. Dimension is somewhat [00:27:00] the same thing, but now you can actually do it the line item if you think about it. So with that and paired with the modern reporting where you can really customize it and get to the line item detail. Sorry, I'm not trying to get super nerdy, but that's where you get to some of the the lower level pieces. You can really create some amazing reporting. Like I'm going off the cuff here, I wish I could see some commission things start popping up off of this. Um, other tracking things could be pretty powerful from this.

Alicia Katz Pollock: Dimensions [00:27:30] are like if classes and drop down custom fields got together and had a love child.

Matthew "Spot" Fulton: Yes. And they're going to be available through the API at some point. So that's just like tadaaaaa

Alicia Katz Pollock: As soon as they said so. So right now there are some limitations to them. Um, the dimensions are not yet available in APIs, which means that third party apps don't see them yet. You can't do bulk uploads of data with dimensions. It's not available yet, but those are both on their [00:28:00] roadmap. So they will be. That's something that they're working on as soon as they said that about the API. Thought of you. Yeah, because that's been our complaint about custom fields now forever since advanced came out. Is that the only the first three custom fields are visible to third party apps? And that's still true even now. So maybe after they crack this nut, they'll go back and retroactively fix the custom fields.

Matthew "Spot" Fulton: I hope so. Um, one of the throughout each of these sections, they did different polls asking people like their [00:28:30] thoughts on things, but this is the one I really wanted to share because they were asking like, where? Where do they think we should? Where should they focus their continued development on dimensions next? And the options were externalized APIs, dimensions on intercompany journal entries, hierarchical dimension reports, dimension on balance sheet transactions, and support for importing transactions with dimensions. So if you the reason I'm sharing this, these are some of the current limitations [00:29:00] of dimensions. And they have vision as to what needs to be done. And it looks like the most loved one was dimensions on the balance sheet transactions, which I would agree with for sure. Um, the one that was kind of the least is the externalized APIs, but we'll get there. We're going to speak loudly towards it, right?

Alicia Katz Pollock: I mean, that's one of those things that if you don't know, you don't know. And if you don't do a lot of that, it's not important to you. And so [00:29:30] that's why the other choices that people made are more relevant. You have to go with what's most popular, but without the but that becomes a limitation for the people who need it. It's a deal breaker, so eventually I'm sure they'll get there.

Matthew "Spot" Fulton: There was one other thing that I'm looking to find out more information on, because you can use dimensions in your bank feeds transaction area, but because I haven't been in a platform, can you do dimensions with rules yet?

Alicia Katz Pollock: I think so, so.

Matthew "Spot" Fulton: I'd [00:30:00] have to. I haven't haven't had the chance to look inside of eyes. So I'll reach out and try to find out some details on that as well. But because that's going to be another piece that they're going to need that if it hasn't been talked about, it would be important I think.

Alicia Katz Pollock: Yeah, that's a great point. So do follow up with that. And we need to make sure that if it's not on their radar that it is because that's super important. And then he finished with some more features that have been rolled out since Eyes First came out at [00:30:30] the end of last year. The consolidated reports for Multi companies used to be external and pushed out to spreadsheet sync, but they're now available in product. So you can do consolidated reporting without leaving the software at all. And you can also now do manual elimination. So if you have a charge that you want, maybe, you know, you have an inner company charge where one company is paying the other company for it that washes out. And so this way you can pull it out of the reporting altogether. So that [00:31:00] was also new.

Matthew "Spot" Fulton: Yeah, super easy to get to all those right on the dashboard like you were saying. So once you get into it, you should be able to see it very, very quickly. Um, so the final piece that um, towards the end, you know, again, question wise, they, they basically were trying to help define what's the difference between Ise and the other QuickBooks online offerings up to like QuickBooks Online Advanced. And the takeaway I got from it is that the Qbo products up to QuickBooks online [00:31:30] Advanced. They consider those as kind of like a self-service subscription model, where Ise really requires a discussion with an account manager, and it is a contract based service offering. There is no migration process really involved. It apparently it's just an upgrade. So you're able to take these different files and they you choose which would be your parent company and then which would be the subsidiary companies. So being able to pull the pieces together, we still don't have much more information of of what [00:32:00] that looks like on the contract side of it. But reach out to your account manager and they'd be able to help you and determine if it's a good fit for your clients.

Alicia Katz Pollock: Absolutely. All right. So that wraps up our our recap of the February in the know. And you can go watch the the replay yourself. And there is also a PDF of all of the slides. We'll have links in the show notes. But you can also just go to firm of the future.com and look around for [00:32:30] in the know and find them there as well.

Matthew "Spot" Fulton: Now Alicia, you've always got a whole bunch of stuff going on. So what's coming up next on your radar?

Alicia Katz Pollock: I am getting ready for my bank feeds class, and I'm really excited about it, because it's three hours of literally every nook and cranny of using the bank feeds down to the I, the settings, and all of my tips and tricks for how to put in lots of data in a really short time. We go into rules, [00:33:00] we go into receipts, basically all the tabs all the way across the whole entire banking center. And I'm the the ultimate bank feeds geek. I've spoken about it at QuickBooks connect in years past and scaling new heights. And so I'm really looking forward to this class so you can head over to learning Hoyes.com and search for banking. And it'll pull up that class or click on our calendar. The class is going to be live on March 4th at 9 a.m. [00:33:30] Pacific time. But if you can't make that time and day, we record everything and it will be available by the end of the week. And so you can sign up and watch it on demand. And all of our courses are available for CPE as well. Spot. How about you. What are you up to?

Matthew "Spot" Fulton: You know the the biggest thing I'm most excited to be a part of nowadays has been being part of the Qube Power Hour, joining Dan DeLong every other Tuesday. As we talk about different subjects, whether it's QuickBooks related, industry [00:34:00] related news wise, different things of that nature. You can find that at power. Com and it's every other Tuesday we do a live show and it's recorded as well. So shout out to Dan.

Alicia Katz Pollock: All right. Well thank you so much for joining me. And thank you everybody. Oh and by the way, you might not have realized that we have a new email address. You can reach out to us at the unofficial QuickBooks podcast at gmail.com. Send us your thoughts about our topics. [00:34:30] And you're also welcome to ask us questions. If you have questions you want us to answer, or you have topics that you want us to discuss, please reach out to us. We would love to hear from you. With that being said, we will see you in the next one.