Intuit has launched a series of new product innovations in Intuit QuickBooks, that deliver a more intelligent and automated accounting experience for businesses and their accountants across international markets. QuickBooks Payments, now available in beta, allows QuickBooks users to connect their bank account to a pay now button on invoices, so that their customers can complete a direct payment in just a few clicks. Payments are automatically reconciled, keeping books up to date with minimal manual effort. This new functionality is fully integrated with QuickBooks Online and works across all devices, supporting quicker settlement times, and with competitive transaction fees. Intuit’s new AI-powered bank feed in QuickBooks learns from users’ previous actions and suggesting categories based on historical patterns. Each suggestion is accompanied by a clear explanation, allowing users to review, approve, or amend with confidence—streamlining workflows and improving accuracy. This enhanced feed offers more accurate categorisation suggestions, allows for inline editing of fields (like category, supplier, class, location, and product/service), and provides payee suggestions with the ability to add new payees directly from the bank feed. This significantly boosts efficiency and provides full transparency on why each suggestion was made, allowing users to maintain control, whilst leveraging AI as much or as little as is needed. Out-of-the-box support for depreciation methods: Intuit has streamlined and automated how its customers track the depreciation of fixed assets in QuickBooks Online Advanced, which now supports reducing balance depreciation, expanding its fixed asset capabilities to better meet the needs of finance teams. Previously limited to straight-line depreciation, users can now apply the reducing balance method by entering a rate, with QuickBooks automatically handling the calculations and updating reports.
This approach provides a more accurate reflection of asset value over time. By automating this popular depreciation calculation and providing new filtering options of categories in the asset register, Intuit helps customers reduce manual errors, maintain compliance with accounting standards, and supports real-time reporting. Construction Industry Scheme (CIS) enhancements: QuickBooks Advanced, Plus, Essentials and Simple Start plans now allow users to automatically bulk-send monthly CIS statements to subcontractors directly after filing. This update cuts hours of repetitive work each month, helping users stay organised and audit-ready. To further support compliance, new CIS reminders enable users to schedule email alerts ahead of each month’s deadline. Admin users within QuickBooks can set up reminders and receive the alerts via email, making it easier to submit returns on time and avoid late filing penalties. Users can check subcontractor status within the platform, store Government Gateway credentials securely, and view the date of verification, to help users know when re-verification is due. By reducing manual steps and consolidating key CIS tasks, these features offer a more efficient, compliant way to manage construction industry obligations.