Important QuickBooks 2017 Updates for Accountants

by QuickBooks Canada Team

2 min read

Tax Code Updates

As of Oct. 27, 2016, QuickBooks 2017 Desktop updated harmonized sales tax rates in several provinces for new company files created after the release date. This includes a 13% to 15% update for Newfoundland, Labrador, and New Brunswick, all of which went into effect on July 1, 2016. The program also updated an increase on Prince Edward Island, which jumped from 14% to 15% on Oct. 1, 2016.

In December 2016, the program updated all January 2017 payroll tax tables so employers could accurately figure withholding. This update also reflects rate reductions for the primary and manufacturing sectors’ payments to Quebec Health Services Funds, which went into effect on Jan. 1, 2017. The software also lets users print a T4A Statement of Pension, Retirement, Annuity, and Other Income and fixed errors in the Process Record of Employment screen.

Search Improvements

QuickBooks 2017 Desktop has added search improvements that simplify tracking down client files. A search-as-you-type function looks at the first few letters you input and then provides options for matches. You can also filter amount ranges and search between them in the Reports menu to track down specific items.

This new software interface also offers enhanced filter selection, which lets you easily select and deselect multiple names within menus. New search filters in this edition include the ability to look up customers and vendors by type.

Tracking and Multi-User Improvements

This version of QuickBooks gives you better control over payment features, including the ability to know when credit card transactions clear via a “Cleared” stamp on completed transactions. A new deposit notification on the Banking screen lets you know when you have deposits waiting.

An improved multi-user mode makes it easy to see who’s logged into the software. This feature lets you give other users time to complete work before you log them out to enter single-user mode.

For extra convenience, this update also manages complex passwords, allowing users to stay logged in for several days without re-authenticating their information. This feature only works when users remain logged into the same Windows user account, and it only applies to files without credit card protection enabled. To ensure security, the admin must turn on this feature for use.

Reporting Improvements

To make reporting to clients more convenient and save you time, QuickBooks 2017 Desktop lets you schedule email delivery of memorized reports. This feature lets you select the timing and frequency of specific reports. You can set up these reports for one time only or as a recurring item on the software’s internal to-do list. The easy-to-use guide walks you through the process to simplify automation of this key accounting task.

This QuickBooks version also displays the filters applied to specific reports when you click the Show button. You can print off all the applied filters on your report’s last page, which can help you track down specific items later as needed.

While software updates can be stressful, these QuickBooks 2017 Desktop updates provide additional functionality while streamlining familiar processes. By using this bookkeeping software to automate part of your workload, you have more time to focus on your clients’ accounting needs.

Related Articles

Top Marketing Trends for 2017

Marketing trends come and go, but some of the best strategies for…

Read more

What Automation Means for Accountants

Automation is changing the field of accounting. Even the Canada Revenue Agency…

Read more

What Is a CPA?

CPA is the acronym for Chartered Professional Accountant, a designation that’s administered…

Read more