Among the changes, accountants can now perform intercompany allocations directly from the bank feed, expense form or bill, as well as pre-assign accounts for their clients' transactions so they can allocate them across various entities, which enables streamlined transaction management without the manual work of selecting accounts or creating separate journal entries. Further, accountants will now be able to map default accounts for transactions between specific entity groupings. The update also features a "multi-entity hub," letting users monitor KPIs like sales, expenses, profit and loss, AR and AP across entities at a glance. They can filter by time period or entity and use shortcuts to access reports and support resources.
Accountants can now choose which entities to include when they create consolidated reports, allowing them to scroll through multiple entities side-by-side with fixed columns for Description, Elimination and Total; there are also more options for exporting spreadsheets.
The software also now features the ability to use business data to access customized projections of revenues, expenses and profits at a dimensional level in order to pinpoint profitable areas and opportunities for improvement based on the entity's specific needs and characteristics, like department, region, program, fund or product line. For example, accountants can leverage their client's existing budgets, or the last three, six, nine or 12 months of historical data, to generate precise forecasts that extend up to three years, according to Intuit. Accountants can also apply rules to various dimensions and classes to create a "dimensional forecast," as well as convert their work into a dimensional budget. Intuit Enterprise Suite will autosave these assets so no work gets lost.
Workflow updates include the ability to create and import project budgets in order to monitor client data from one connected system; accountants will be able to import a budget from a spreadsheet and assign dimensions to line items, as well as have access to an AI-powered tool that can help find and address duplications and mismatches along the way. Users will also be able to make reusable custom task templates or choose from a library of standard and industry-specific templates. Accountants will be able to track the profitability of their clients' projects and use actionable AI suggestions and predictive strategies to help clients achieve profit benchmarks.
Finally, Intuit has added features for managing a workforce. This includes the ability to correct paychecks for closed quarters, meaning users can edit, backdate and void past-quarter paychecks in Intuit Enterprise Suite without having to request support. They can also reverse an employee direct deposit payroll payment in Intuit Enterprise Suite for no additional fee. To make better-informed decisions on promotions and raises, users can track changes to employees' data including their manager, department, pay and job title.
All the new features are available starting today.
