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"If you currently have more than 250 categories or 40 classes or locations you can reduce them by either combining or making unused accounts inactive prior to July 19, 2022."
VICTORIA, BC, March 23, 2022 /24-7PressRelease/ -- An enhanced version of QuickBooks Online has been available in the United States for quite some time but there will soon be an advanced version available in Canada soon.
Here are just a few of the features that you will have access to:
More flexibility over user access – there will be more options to create user access by transactions without giving access to an entire "module" as is currently the case. This helps to protect sensitive data, and also allow for more delegation.
Enhanced reporting – the ability to customize dashboards and reports to provide more useful information to manage your business.
Backup and restore – this is a big one! Currently if you would like a backup of your QuickBooks Online file you need to purchase a separate application – you will now have the ability to back up and roll back your data! Perfect for those integrations that don't quite go as you hoped, or an import that messes everything up!
Customization – additional custom fields. The number of custom fields available for each form will be increased from 3 to 12.
Increased user access – up to 25 users will have access at any time. Currently the limit with the Plus plan is 5. The price of QuickBooks Online Advanced will be $140 per month.
Usage limits on existing plans introduced – with the launch of QuickBooks Online Advanced usage limits will be placed on the number of categories you can have in your Chart of Accounts - 250 and Classes and Locations - 40.
These limits will come into effect on July 19, 2022.
If you currently have more than 250 categories or 40 classes or locations you can reduce them by either combining or making unused accounts inactive prior to July 19, 2022. If you need assistance with this, please don't hesitate to reach out!
The launch is expected to be at the end of March. As soon as a test drive is available, I will be further exploring the new features, and will have updates for you!
If you would like to compare to QuickBooks Online plans, you can do so here.
If you would like assistance determining the best option for your business, CLICK HERE to schedule a free consultation with Kerry.
About My Cloud Bookkeeping
For more than 5 years, Kerry Smithies has been helping small businesses, non-profits, and entrepreneurs handle their bookkeeping in-house, ensuring they always have up-to-the-minute information to make timely business decisions and manage cash flow. In just the past two years alone, she's worked with 200 organizations in seven countries to set up systems that work for their business processes, troubleshoot to clean up existing records, and provide ongoing assistance and support as required.
Kerry's blog and YouTube channel offer easy tutorials and valuable information for solving day-to-day QuickBooks and bookkeeping problems, while her in-depth courses explore the most common QuickBooks issues and provide step-by-step instructions for fixing them.
Business owners and managers in need of individualized guidance are also invited to book an in-person session with Kerry.
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