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What Are 4 Options You Can Access Via Accountant Tools?

What Are 4 Options You Can Access Via Accountant Tools?

QuickBooks is a great software used for accounting , and has helped tons of people and businesses gain control over their finances over the years. Since then, QuickBooks has now created different versions of its software that offer different tools – so what can you access via Accountant Tools in QuickBooks?

If you want to find out more about your options for accountant tools available on QuickBooks, keep reading! 

What Are Your 4 Options For Accountant Tools?

Reclassify Transactions

This tool is a very common one used by accountants to move or edit multiple transactions all at once. This means that accountants don’t have to go through each transaction one by one, editing or moving them individually. As a result, you can save a lot of time and effort simply by using this tool.

To try it out for yourself, you need to know which transactions you need to reclassify. Then, open up your client’s QuickBooks Online company and select the Accountant Tools drop down box in the ribbon menu at the top of your screen.

Under Accountant Tools are all your options – and there you can find the ReclassifyTransactions option. Select it and you will be taken to a reclassify transactions page where you can choose the account types, dates, class, customer, and more. 

Change the information you need and then select ‘Reclassify’ at the bottom of the screen. Then, select a new account to move the transactions to, select apply, and you are done! 

Reconcile

The Reconcile tool in Quickbooks allows you to compare two records against one another to make sure all the figures and numbers are correct. 

To use the Reconcile tool, select ‘Reconcile’ underneath the Accountant Tools heading. This will take you to the Reconcile page where you can select the accounts you want to reconcile from the drop down menu. 

Enter the ending balance and ending date, then match the transactions. You also have the ability to apply filters to help find certain transactions to compare the figures and undo any transactions added to a reconciliation if you need to. Remember to check them off to avoid discrepancies and ensure you close the window with the ‘Success!’ screen showing that you have reconciled a report without leaving any discrepancies and that the differences have been saved. 

Closed Books

From the drop down menu of Accountant Tools, you can also find the Closed Books option. This feature is designed to help accountants lock in transactions before the date entered to avoid any accidental changes that can have a huge impact on your reports. So, it’s definitely a super handy option to use. 

To do this, head to your Closed Books option and this will take you to the Advanced tab of your Account and Settings. Here, you can select the ‘Edit’ button and tick the box next to ‘Close the books’. 

You can now enter a closing date to give yourself a deadline and this will prevent anyone from editing after this date.

Reports Options

The final and forth option you can access via Accountant Tools in QuickBooks is the numbers reporting options you can choose from. These include Account Reports, Management Reports, My Custom Reports, and Reports Tools. Each one will allow you to view and customize different groups of reports as you see fit or to meet your clients’ needs.  

Accountant Reports will allow you to customize the suite of reports for whatever your client needs. 

Selecting Management Reports will take you to a page where you can select different reports to open and view. Each report in the Management Report section is there to help your clients make informed decisions. Some example reports you may find in this area include Sales Performance and Company Overview. 

My Custom Reports allows you to view all customized reports your client has created. 

The final Reports Tools is where you can set a date range for your clients reports. You can also view any reconciliation statuses.  

Other Options For Accountant Tools

So, those were the main 4 options accountants use from the Accountant Tools feature from QuickBooks Online Accountant. There are more options available from the drop down menu, including: 

Voided/Deleted Transactions – This option takes you to your client’s audit log and allows you to view all voided and deleted transactions your client has made. 

Write Off Invoices – Here, you can write off bad debts or uncollected invoices.

Journal Entries – This tool allows you to make quick and easy journal entries for your clients including details such as accountant names, debts, credits, and more. 

Chart of Accounts – This option allows you to view all of your accounts in one go. 

New Window – This tool opens a duplicate QuicksBooks page in a separate browser tab so you can keep multiple options mentioned above open at the same time. 

Final Thoughts

So, those were all the options you can access via Accountant Tools in QuickBooks Online Accountant! Each one is handy to use, but the top four we mentioned above are some of the most commonly used options. Check them out for yourself!

Frequently Asked Questions 

What Are Accountant Only Tools In QuickBooks Online?

Accountant only tools are special tools available on QuickBooks Online Accountant, a specialized type of QuickBooks designed specifically for accountants. It offers different tools which accountants will make more use of compared to other types of clients who use QuickBooks, such as commerce businesses or self employed individuals. 

To find out what these tools are, just check them out in the article above! 

What Can An Accountant Access In QuickBooks?

QuickBooks can add user roles to their account, which means that accountants can access the QuickBooks to view the information there. However, their access is limited depending on the level of access you assign to them. 

This means accountants’ access can vary from being able to see everything and make changes, to only viewing the information in your QuickBooks. 

What Are The 3 Levels Of Access In QuickBooks Online Accountant? 

When assigning an accountant to access your QuickBooks Online, you can decide their user’s access rights. The three levels you can choose from are all access, limited access, or none.