How Intuit's Agentic AI is Changing Business Automation

Automation is advancing rapidly, and Intuit is leading the way with its innovative Agentic AI. This new technology aims to automate complex tasks, offering significant financial management benefits for businesses of all sizes.

Top benefits for businesses

1. Streamlined Processes: Agentic AI automates repetitive tasks like cash flow management, accounts payable, and receivables, freeing up time for more strategic work.

2. Fewer Errors: Reducing manual data entry lowers the risk of mistakes and improves overall efficiency.

3. More Time for Growth: Business owners and teams can dedicate more time to higher-value activities when routine tasks are automated.

4. Improved Financial Insight: AI delivers real-time insights into your business's financial health, helping with smarter decision-making.

What is Agentic AI?

Agentic AI refers to AI-powered agents that autonomously complete tasks on behalf of businesses, using data to learn and improve efficiency over time. It’s not just a tool that follows instructions—it understands and processes complex workflows without requiring constant human intervention. Think of it as having a team of AI-driven assistants handling key operations.

Who does Agentic AI help the most?

While small and medium-sized businesses are expected to be the biggest beneficiaries, larger companies with complex workflows will also find value in Agentic AI. From automating invoicing to onboarding, it minimizes repetitive admin tasks so businesses can focus on what truly matters—growth.

Problems solved by Agentic AI

• Time-Consuming Tasks: With AI handling routine work, businesses can save hours in data entry, invoicing, and financial record-keeping.

• Reduced Human Error: By automating these tasks, the chance of costly mistakes is significantly reduced.

• Resource Optimization: With AI covering administrative duties, businesses can allocate their human resources to more strategic tasks.

Will it be a separate product?

No, Intuit’s Agentic AI will be integrated into its existing products, such as QuickBooks, TurboTax, and Mailchimp. Business users won’t need to buy a separate product; instead, they’ll see new features and functionalities within the tools they already use. Some of these capabilities, like automated accounts receivable and payable, are expected to be available in late 2024 with additional features rolling out in 2025.

How long has Intuit been working on this?

Intuit has been investing in AI for over a decade, with Agentic AI being the latest evolution. This builds upon its Generative AI Operating System (GenOS), which powers personalized AI-driven insights and automates complex workflows.

The bottom line: Why businesses need Agentic AI

Businesses will want products that include Agentic AI because it saves time, reduces errors, and delivers actionable insights—allowing you to focus on growing your business. With this technology integrated into QuickBooks, TurboTax, and Mailchimp, businesses of all sizes will benefit from automation that handles routine tasks, simplifies financial management, and enhances customer engagement.

Investing in AI-powered products from Intuit means embracing efficiency and staying competitive in an increasingly automated world.

Streamlining Construction Project Management and Job Costing with Intuit Enterprise Suite

Managing construction projects is a complex balancing of time, resources, and costs. With multiple teams to coordinate and budgets to maintain, even minor missteps can lead to significant delays and financial losses.

We don’t have to tell you how critical, meaningful, and challenging it is to get project management and job costing right. These two activities can make or break a construction business. Fortunately, Intuit Enterprise Suite (IES) addresses these challenges head-on, offering advanced tools designed specifically for the construction industry.

The challenges in construction project management & job costing

Construction projects are intricate by nature, involving numerous stakeholders, fluctuating costs, and tight deadlines. Common challenges include:

• Complex Project Tracking: Keeping tabs on multiple projects simultaneously, each with its own timeline and requirements.

• Accurate Job Costing: Calculating precise costs for labor, materials, and overhead to ensure projects stay within budget.

• Change Order Management: Handling alterations in project scope without disrupting the workflow or budget.

• Real-Time Financial Insights: Accessing up-to-date financial data to make informed decisions promptly.

• Resource Allocation: Efficiently distributing labor and materials across various projects.

These challenges can lead to inefficiencies, financial losses, and strained client relationships without the right tools.

How Intuit Enterprise Suite solves these challenges

Intuit Enterprise Suite is a comprehensive, cloud-based solution that integrates all aspects of project management and job costing into one platform. Here's how it transforms the way construction businesses operate:

Advanced Project Financials

IES provides real-time visibility into each project's financial health. You can:

• Monitor Project Profitability: Track revenue and expenses at every stage, ensuring projects remain profitable.

• Budget vs. Actuals Reporting: Compare projected budgets with actual spending to identify variances and adjust accordingly.

• Cost-to-Complete Analysis: Estimate the remaining costs to finish a project, helping in forecasting and resource planning.

Real-Time Profitability Tracking

With IES, you gain immediate insights into your financial data:

• Dynamic Dashboards: Customize dashboards to display key performance indicators (KPIs) relevant to your business.

• AI-Generated Forecasts: Utilize artificial intelligence to predict future financial trends based on historical data.

• Multi-Dimensional Reporting: Analyze data by project, location, team, or any custom dimension you set.

Automated Change Order Management

Managing change orders is seamless with IES:

• Integrated Workflows: Automate the approval process for change orders to keep projects moving without delays.

• Real-Time Updates: Ensure all stakeholders are informed instantly of any changes, reducing miscommunication.

• Documentation and Compliance: Keep detailed records of all changes for compliance and future reference.

Labor Cost Calculations

Accurately calculating labor costs is crucial:

• Integrated Payroll: Connect payroll directly to projects to monitor labor expenses in real time.

• Time Tracking: Utilize mobile time tracking for on-site teams, ensuring accurate and timely data entry.

• Overtime Management: Automatically calculate overtime and adjust labor costs accordingly.

Resource Allocation and Scheduling

Efficiently manage your resources:

• Resource Planning Tools: Allocate labor and materials to projects based on availability and needs.

• Gantt Charts and Timelines: Visualize project schedules to identify potential bottlenecks and adjust plans proactively.

• Collaboration Features: Enable teams to communicate within the platform, enhancing coordination and reducing errors.

Why Choose Intuit Enterprise Suite for Your Construction Business

• Cloud-Based Accessibility: Access your data anytime, anywhere—from the office or the construction site.

• Scalable Solutions: IES scales with your business whether you're managing a few projects or dozens.

• User-Friendly Interface: An intuitive design means your team can adopt the system quickly with minimal training.

• Secure and Reliable: Your sensitive financial and project data is protected with robust security measures.

Peak Advisers: Your trusted QuickBooks expert

At Peak Advisers, we specialize in helping businesses successfully implement Intuit products, and Intuit Enterprise Suite (IES) is no exception. We’re here to help you assess your needs and guide you in making informed decisions about implementing the right QuickBooks products, including IES. From the initial consultation with Intuit to full implementation, we ensure a smooth and efficient transition, tailored to your specific business requirements.

success expected

A mid-sized construction firm that currently struggles with tracking expenses across multiple projects can expect the following basic successes after implementing IES with our help:

• Reduced project overruns by 30%

• Improved profit margins by 15%

• Streamlined change order process, cutting approval times in half

Take the Next Step Towards Efficiency

Don't let outdated processes hold your construction business back. Embrace the future with Intuit Enterprise Suite and transform the way you manage projects and costs.

Contact Peak Advisers today to schedule a consultation. Let's build a more efficient and profitable future for your construction business together.

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About Peak Advisers

Peak Advisers empowers businesses with the latest financial and project management solutions. With expertise in QuickBooks products and a commitment to client success, we provide personalized services that drive growth and efficiency for businesses of all sizes and across all industries, such as construction, retail, manufacturing, healthcare, professional services, non-profits, and e-commerce.

Ready to revolutionize your project management and job costing? Reach out to us using this link, and let's get started!

Employee Handbooks: Simplified for Businesses with QuickBooks Payroll HR

Managing operations without a dedicated HR department can be challenging for business owners. One essential tool for maintaining clarity and consistency with your team is an employee handbook. Not only does it outline workplace expectations and policies, but it also provides a foundation for legal protection and team culture. And now, with the help of QuickBooks Payroll HR, creating and managing an employee handbook has never been easier.

Why every business needs an employee handbook

An employee handbook is crucial for setting clear expectations, streamlining processes, and protecting both your business and employees. Without clear guidelines, misunderstandings can arise, which can lead to conflicts or even legal issues.

Here’s why an employee handbook is a must:

• Establishes clarity: Employees know exactly what's expected of them.

• Reduces legal risks: Outlines key policies on workplace safety, attendance, and anti-harassment.

• Strengthens company culture: A handbook is an opportunity to communicate your business’s mission and values.

• Saves time: Reduces the need to repeatedly answer questions or explain company policies.

QuickBooks Payroll HR: Easy help for Employee Handbook Creation

Creating a comprehensive employee handbook can seem overwhelming—especially without an HR department. But QuickBooks Payroll’s higher-tier plans now offer HR support designed to assist small business owners with creating and managing their employee handbooks, among other HR activities.

Here's how QuickBooks Payroll HR can help:

• Handbook templates: Access customizable templates that simplify the process of creating a handbook tailored to your business needs.

• HR experts: Gain access to HR professionals who can review your handbook, ensuring it’s compliant with state and federal laws and best practices.

• Policy guidance: Get assistance in drafting essential policies around attendance, workplace conduct, safety, and more.

These features help small business owners create a professional and legally sound handbook, saving time and offering peace of mind.

Key elements to include in your employee handbook

1. Welcome and Company Overview: Set the tone by sharing your mission and what your business stands for.

2. Workplace Policies: Cover essential topics like work hours, remote work, attendance, and dress code.

3. Code of Conduct: Clearly outline expectations for behavior, ethics, and professionalism.

4. Benefits and Compensation: Highlight the perks, from flexible work schedules to health benefits and pay structure.

5. Legal and Compliance Policies: Anti-harassment, safety, and confidentiality rules protect your business and employees.

6. Disciplinary Actions: Outline the steps for addressing performance issues, ensuring transparency and fairness.

How Peak Advisers Can Help You Get Started

At Peak Advisers, we specialize in helping small business owners implement tools like QuickBooks Payroll to streamline HR tasks and boost efficiency. From setting up payroll to leveraging the HR features for employee handbook creation, our experts are ready to guide you every step of the way.

We understand the unique needs of small businesses without dedicated HR departments because we are one. Our tailored services will help you manage your team effectively while staying compliant with employment laws.

THE BOTTOM LINE

An employee handbook is a vital document for any small business, and with the help of QuickBooks Payroll HR, it’s easier than ever to create one that suits your business. Let Peak Advisers show you how to take advantage of these powerful tools to set your team up for success.

Ready to streamline your HR tasks and create your employee handbook? Contact Peak Advisers today to learn more about how QuickBooks Payroll can transform the way you manage your business!

Intuit Enterprise Suite: The Ultimate Tool for Business Growth and Managing Complexity

As your business grows, so do the complexities—managing multiple entities, disconnected systems, and the need for real-time insights across all your operations. These challenges can slow growth, drain profitability, and add unnecessary stress to your day-to-day management. Enter Intuit Enterprise Suite (IES)—a fully customizable, cloud-based solution to streamline even the most complex business processes.

Why Intuit Enterprise Suite?

Many businesses rely on QuickBooks but find themselves managing multiple accounts or switching between various tools to keep everything running smoothly. This disjointed approach leads to inefficiencies and missed opportunities. IES solves these challenges by consolidating everything under one platform, offering robust multi-entity accounting, integrated payroll, and AI-powered insights.

With IES, you can manage your finances, track projects, and even automate marketing without leaving the platform. It’s built to scale as your business does, ensuring you always have the tools to succeed.

Cloud-based and accessible anywhere

One of the standout features of Intuit Enterprise Suite is its cloud-based nature. Whether in the office, working remotely, or managing projects on-site, you’ll have real-time access to your entire portfolio. No more waiting to get back to the office to check project costs or business reports—you can do it all on the go.

This level of accessibility is invaluable for industries like construction, non-profits, or project-based businesses that require immediate, up-to-date insights from any location.

Solving common business challenges

For industries like construction, project management and job costing are two of the most challenging aspects of running a business. IES addresses these head-on, offering advanced project financials, real-time profitability tracking, and tools to automate tedious tasks like managing change orders or calculating labor costs.

Delivering real-time insights for more intelligent decision-making

With Intuit Enterprise Suite, you also get real-time insights into your business’s financial performance, from cash flow and profitability to multi-entity accounting, helping you stay on top of your financial health. The platform’s custom reporting capabilities allow you to create detailed reports based on attributes like department, location, or product type, enabling you to identify trends and make timely decisions. Additionally, AI-generated forecasts predict future revenue, expenses, and cash flow based on historical data, giving you a proactive approach to managing your business’s growth.

Integrated marketing with Mailchimp

One standout feature of Intuit Enterprise Suite is its seamless integration with Mailchimp, allowing businesses to automate their marketing efforts directly within the platform. With Mailchimp built into IES, you can manage customer outreach, automate marketing campaigns, and track engagement—all from the same place where you handle your finances and project management.

For businesses, especially those in service-based industries, this means less time spent switching between platforms and more time focusing on customer relationships. From automated email sequences to personalized promotions, Mailchimp in IES helps you streamline your marketing efforts, allowing you to target the right audience at the right time with minimal effort.

A tailored pricing model

Unlike cookie-cutter solutions, IES is tailored to your business needs, so pricing is done during a consultation with Intuit. This personalized approach ensures you only pay for the features that bring the most value to your business.

Pricing considerations include:

• The number of users

• The types of services you require (such as payroll, payments, and project management)

• Your business’s overall complexity

By taking the time to understand your unique needs, Intuit ensures that IES is cost-effective and scalable as your business grows.

How Peak Advisers can help you implement IES

At Peak Advisers, we specialize in helping businesses successfully implement Intuit products, and IES is no exception. We’re here to help you assess your needs and make decisions about implementing the right QuickBooks products, including IES. We’ll make your transition to IES smooth and efficient—from the first meeting with Intuit forward.

Take the next step toward growth

If you’re ready to streamline your operations, improve your bottom line, and scale your business with ease, Intuit Enterprise Suite is the solution you’ve been waiting for. Contact Peak Advisers today to schedule a consultation and learn how we can help you implement this game-changing tool.

Defend your business against phishing attacks

Safeguarding your company from cyber threats is crucial. One of the most common and dangerous attacks you may face is phishing. In this blog, we’ll break down what phishing is, highlight the most common phishing scams happening today, and discuss the consequences of falling victim to these attacks. Most importantly, we’ll provide actionable steps to defend your business.

What are phishing attacks?

Phishing attacks are attempts by cybercriminals to deceive individuals into providing sensitive information, such as passwords, credit card details, or business credentials. These attacks typically occur through emails, text messages, or websites that look legitimate but are designed to steal your information.

Phishing isn’t just a consumer problem—businesses, especially small to mid-size ones, are increasingly being targeted. Why? Because smaller companies may have fewer security measures, making them easier targets for hackers.

5 Common phishing attacks to watch out for

Here are some of the most common phishing schemes businesses are seeing right now:

1. Email Phishing: The most common form, email phishing, involves hackers sending emails that appear to come from a legitimate company or person (like your bank or a trusted vendor). These emails often contain malicious links or attachments designed to capture your information.

2. Spear Phishing: Spear phishing is a more targeted version of email phishing. Hackers research your business or employees and craft emails that seem specific and personal, making them harder to detect as fake.

3. Business Email Compromise (BEC): BEC attacks involve hackers gaining access to a business email account and using it to trick other employees or business partners into sending money or sensitive information. These are particularly dangerous because the request looks like it’s coming from a trusted source within your company.

4. Smishing and Vishing: Smishing (SMS phishing) and vishing (voice phishing) are newer methods. Smishing uses text messages to prompt recipients to click malicious links or provide personal information. Vishing involves phone calls where attackers impersonate credible sources (such as IT support or vendors) to steal information.

5. Clone Phishing: In this method, hackers copy a legitimate, previously delivered email containing a trusted link or attachment. They replace the original content with malicious content but keep the legitimate look of the email, making it harder for recipients to detect the scam.

How to defend your business against phishing attacks

• Educate Your Employees: Regularly train your staff to spot phishing attacks. Please encourage them to think before clicking links or downloading attachments from unknown or unexpected sources.

• Use Strong Security Tools: Implement email filtering, anti-virus software, and firewalls to block malicious emails and websites before they reach your employees.

• Implement Multi-Factor Authentication (MFA): MFA adds an extra layer of security by requiring users to verify their identity with more than just a password.

• Monitor and Update Systems: Keep your security software updated and monitor your systems for suspicious activity.

• Verify Requests for Sensitive Information: Train employees to verify any request for sensitive information, especially financial transactions, by contacting the person or vendor directly using known contact details, not the information in the suspicious message.

Who to contact for help defending against phishing attacks

If you’re a small business operator and don’t know how to take the necessary precautions, consider contacting cybersecurity experts. Here are some options:

• Local IT Security Firms: They specialize in setting up defenses and training your team.

• Managed Service Providers (MSPs): MSPs remotely manage your business’s IT infrastructure and security systems. An MSP will monitor your systems, respond to threats, and keep your cybersecurity measures current. One example is Datto, which provides small businesses backup, disaster recovery, and cybersecurity solutions.

• Cybersecurity Software Providers: Tools like Norton, McAfee, or Bitdefender offer dedicated business solutions and support packages.

• Government Resources: The Cybersecurity and Infrastructure Security Agency (CISA) provides resources for small businesses to secure their networks.

What to do if you fall victim to a phishing attack

If your business has already fallen victim to a phishing attack, take these immediate steps:

• Disconnect the Affected System: Disconnect any compromised devices from your network to prevent further damage.

• Change All Passwords: Immediately change passwords for all accounts that may be affected, especially financial or business accounts.

• Contact Your IT Department or Security Expert: If you have internal or contracted IT support, alert them as soon as possible so they can assess and mitigate the damage.

• Report the Incident:

  • Contact the FBI’s Internet Crime Complaint Center (IC3).

  • File a report with CISA or your local cybercrime unit.

  • Notify any affected clients or customers if their data may have been exposed.

• Review and Improve Security Protocols: Review your security protocols with a cybersecurity expert to prevent future attacks after addressing the immediate threat.

Consequences of falling victim to phishing attacks

The consequences of successful phishing attacks can be devastating for small and mid-size businesses:

• Financial Losses: Many phishing scams lead to unauthorized financial transactions. Hackers can gain access to business accounts, steal funds, or trick employees into transferring money to fraudulent accounts.

• Data Breaches: A successful phishing attack can lead to the theft of sensitive customer or business data. This could expose your clients’ personal information and damage your reputation.

• Operational Disruptions: Phishing attacks can result in malware or ransomware infecting your business systems, potentially halting your operations until you pay a ransom or repair the damage.

• Legal Consequences: Depending on the industry you're in, a data breach could lead to legal penalties if it’s found that you didn’t take adequate steps to protect your customers’ information.

The bottom line

Phishing attacks are a growing threat to businesses of all sizes, but by staying informed and taking preventive measures, you can defend your company from these damaging cyberattacks. Prioritizing employee education, investing in solid security tools, and maintaining vigilant monitoring will go a long way in protecting your business.

ServiceM8: The Ultimate Tool to Streamline Your Service Business and Boost Profits

Running a service business—whether you’re a plumber, contractor, HVAC company, mobile pet groomer, electrician, pool maintenance provider, or managing building maintenance or roll-off dumpsters … any business that goes to customers’ locations to help solve problems—comes with unique challenges.

The complexities can be overwhelming, from juggling schedules and dispatching to ensuring clear communication with clients and processing payments. Field service management (FSM) software like ServiceM8 can simplify these tasks. But how does ServiceM8 compare to its top competitors? Let’s dive into the most significant challenges it solves and how it stacks up against other leading FSM platforms.

The Challenges and How ServiceM8 Solves Them

Quick and Accurate Job Quoting

• The Challenge: Providing quick, accurate quotes is crucial for winning jobs, especially in competitive service industries. A slow or inaccurate quoting process can lead to lost opportunities and dissatisfied customers.

• ServiceM8’s Solution: ServiceM8 allows you to create, send, and manage quotes directly from the app, even on-site. This means you can provide customers with a professional quote within minutes, increasing your chances of securing the job.

• Competitor Comparison: While other platforms like Housecall Pro and Jobber offer quoting features, ServiceM8’s ability to generate quotes on-site, integrated with its other job management tools, provides a more seamless and efficient experience. This is particularly beneficial for businesses where speed in quoting can directly impact revenue.

Complex Scheduling and Dispatching

• The Challenge: Efficient scheduling and dispatching are critical for service businesses. With multiple jobs and limited resources, it’s easy to encounter missed appointments, long wait times, and inefficient routes.

• ServiceM8’s Solution: ServiceM8 offers an intuitive drag-and-drop scheduler that allows you to assign jobs to available team members quickly. Real-time dispatching ensures that your field workers always know where they need to be and when.

• Competitor Comparison: While ServiceTitan provides a comprehensive scheduling system, many users find it overwhelming due to its complexity. In contrast, ServiceM8 offers a more straightforward and user-friendly interface, ideal for small to medium-sized businesses that need to streamline operations without a steep learning curve.

Communication Breakdowns

• The Challenge: Communication breakdowns between the office, field workers, and clients can lead to mistakes, delays, and unhappy customers. Whether it’s a missed appointment update or unclear job details, these issues can seriously impact your business.

• ServiceM8’s Solution: ServiceM8 integrates communication tools directly into its platform. Field workers can update job statuses in real time, and clients can receive automatic updates on their appointments, ensuring everyone stays in the loop.

• Competitor Comparison: Jobber also offers communication features, but ServiceM8’s real-time updates and seamless integration with mobile apps provide a more reliable and consistent communication experience. This ensures that no one is left out of the loop, reducing the chances of errors.

Time-Consuming Invoicing and Payments

• The Challenge: Invoicing and payment collection can be time-consuming, especially manually. Delays in invoicing can hurt cash flow, and tracking down payments can be a hassle.

• ServiceM8’s Solution: ServiceM8 automates invoicing, allowing you to generate and send invoices instantly. Plus, with built-in payment processing, you can collect payments as soon as the job is done, speeding up your cash flow.

• Competitor Comparison: Housecall Pro offers invoicing and payment features, but ServiceM8’s streamlined and on-the-spot payment options make it more efficient for smaller businesses with limited administrative resources.

Difficulty in Job Tracking and Reporting

• The Challenge: Keeping track of job progress and generating reports can be cumbersome, particularly when using outdated or manual systems. This lack of visibility can lead to inefficiencies and missed opportunities for improvement.

• ServiceM8’s Solution: ServiceM8 provides easy job tracking and comprehensive reporting features. You can monitor job progress, analyze performance, and make data-driven decisions to improve your operations with detailed reports.

• Competitor Comparison: FieldEdge offers robust reporting but at a higher cost. ServiceM8 delivers similar functionality at a more affordable price point, making it an attractive option for businesses looking to maximize their budget without sacrificing essential features.

Pricing Comparison

Pricing is a crucial factor when choosing FSM software. Below is a comparison of ServiceM8 and its top competitors:

ServiceM8’s Pricing Model: ServiceM8 offers four pricing tiers:

• Starter: $9/month (up to 15 jobs/month)

• Growing: $29/month (up to 50 jobs/month)

• Premium: $79/month (up to 150 jobs/month)

• Premium Plus: $149/month (unlimited jobs/month)

This pricing structure makes ServiceM8 particularly cost-effective for smaller businesses or those with fluctuating job volumes. The flexible pricing allows businesses to scale up or down without being locked into a high monthly fee.

the bottom line

ServiceM8 not only addresses the critical challenges that service businesses face but does so in a user-friendly and cost-effective way. Whether it’s simplifying scheduling, improving communication, speeding up payments, or providing quick and accurate quotes, ServiceM8 stands out as a superior choice compared to its top competitors. If you’re looking to take your service business to the next level, it’s time to consider making the switch to ServiceM8.

QuickBooks Payments: Outstanding Solution for Payment Processing in Businesses

Time is money, and as a small business owner, you're losing both with outdated payment processing. Every minute spent chasing payments, reconciling accounts, and managing cash flow is a minute stolen from growing your business. The harsh reality? Your current system isn't just inefficient—it's actively holding you back.

But there's a solution that turns this necessary evil into a powerful growth engine: QuickBooks Payments. This isn't just another payment processor; it's a complete reinvention of how small businesses handle transactions, designed to eliminate the frustrations that have plagued you for years.

In this guide, we'll reveal how QuickBooks Payments is helping improve business financial management and why it's the smartest choice for businesses looking to scale. Whether you're fed up with your current processor or starting a new venture, prepare to discover a system that doesn't just meet your needs—it propels your business forward.

Solving the challenges: How QuickBooks Payments addresses common frustrations

1. Seamless Integration: The End of Manual Data Entry

The Problem: Traditional payment processors trap you in a cycle of manual data entry, wasting hours on tasks that should be automated.

The Solution: QuickBooks Payments integrates flawlessly with QuickBooks Online accounting software. Every transaction automatically syncs in real-time, eliminating manual input and cutting the risk of errors. This isn't just about saving time—it's about freeing you to focus on strategic growth rather than mundane bookkeeping.

2. Lightning-Fast Access to Funds: Boost Your Cash Flow

The Problem: Slow fund transfers from payment processors can create cash flow bottlenecks, hindering your ability to manage expenses and invest in growth.

The Solution: QuickBooks Payments offers next-day deposits as standard, with the option for instant deposits on eligible transactions. This rapid access to funds empowers you to manage your cash flow more effectively, pay suppliers promptly, and seize growth opportunities without delay.

3. Versatile Payment Options: Never Miss a Sale

The Problem: Limited payment options can lead to lost sales and frustrated customers.

The Solution: QuickBooks Payments accepts a wide range of payment methods, including:

• Credit and debit cards

• ACH bank transfers

• Apple Pay

• PayPal

• Venmo

This versatility ensures you can cater to customer preferences, reducing cart abandonment and boosting sales conversion rates.

4. Robust Security: Protect Your Revenue

The Problem: Chargebacks and payment disputes can affect profits and create financial uncertainty.

The Solution: QuickBooks Payments offers unparalleled peace of mind with its Payment Dispute Protection. This feature covers up to $10,000 per dispute and $25,000 annually, safeguarding your revenue and allowing you to conduct business confidently.

Beyond the basics: Why QuickBooks Payments stands out

Transparent Pricing: No Hidden Fees

QuickBooks Payments offers competitive, straightforward pricing without the hidden fees that plague many other processors. This transparency lets you accurately forecast your payment processing costs and budget more effectively. The chart below compares QuickBooks Payments rates with Square and Stripe.

Comprehensive Reporting: Data-Driven Insights

Leverage the power of integrated reporting tools to gain valuable insights into your business's financial health. Track sales trends, monitor cash flow, and make informed decisions to drive growth.

Scalability: Grow Without Growing Pains

As your business expands, QuickBooks Payments scales effortlessly with you. Whether you're processing ten transactions a month or ten thousand, the system adapts to your needs without requiring a costly overhaul of your payment infrastructure.

Expert Support: Backed by Peak Advisers

When you choose QuickBooks Payments through Peak Advisers, you're not just getting a payments processor – you're gaining a partner invested in your success. Our team of QuickBooks experts is always ready to provide personalized support, ensuring you make the most of your payment processing system.

Making the switch: Easier than you think

Transitioning to QuickBooks Payments is a smooth, hassle-free process. Our team at Peak Advisers will guide you through every step, from initial setup to optimizing your payment workflows. We'll ensure you're up and running quickly, with minimal disruption to your business operations.

The bottom line: Make your payments processing better today

In a world where every second counts, QuickBooks Payments offers the speed, efficiency, and reliability that small businesses need to thrive. By addressing the core pain points of traditional payment processing – manual data entry, slow fund access, limited payment options, and security concerns – QuickBooks Payments empowers you to focus on what truly matters: growing your business.

Ready to revolutionize your payment processing? Contact Peak Advisers today to learn how QuickBooks Payments can streamline your operations, boost your cash flow, and set your business on the path to more tremendous success.

QuickBooks Online Payroll Introduces Cost Allocation Feature for Premium & Elite Users

At Peak Advisers, we’re thrilled to share some big news about QuickBooks Online Payroll (QBOP)! This new feature, long-awaited and previously only available in QuickBooks Desktop, is now live in the QuickBooks Online ecosystem. It's an update that promises to streamline your payroll process and simplify managing your business finances.

What’s new? Cost allocation in QuickBooks Online Payroll

Those using QBOP Premium or Elite can now effortlessly track payroll costs by customer, project, or class. This update allows you to assign multiple classes or projects to a single employee within a given pay period for any wage item. This means no more extra journal entries or manual workarounds!

Here’s a quick overview of what this feature offers:

• Multiple Allocations Per Employee: Previously, QuickBooks Online only allowed one class or project per employee per paycheck. This limitation often required additional steps to reflect payroll costs across different projects or classes accurately. You can allocate multiple classes or projects to each wage type within the same pay period.

• Automated Payroll Calculations: QuickBooks Online automatically calculates payroll taxes and contributions based on how wages are allocated. This feature significantly boosts businesses like contractors, who need to job cost their payroll accurately.

• Improved Profit & Loss Reporting: The new cost allocation feature feeds directly into the QBO Plus & AV profit and loss reports, making tracking and reporting expenses easier.

Real-world impact: A non-profit’s perspective

Lori Aveni, who works with nonprofit clients, shared her thoughts on how this feature makes a difference:

“For my purposes, it's mostly for my nonprofit clients, because they're required on their tax return to report their expenses and they have to split up by program, administrative costs, and fundraising costs. So it's nice if we can do as much of that upfront as possible… with the payroll, we always have to go back at the end of the year and say, ‘Okay, here's how much we're splitting to each of those three buckets.’”

This update simplifies the process, allowing nonprofits and other businesses to manage their finances more efficiently and accurately throughout the year.

Why this matters

For many businesses, particularly those involved in job costing like contractors or those in the nonprofit sector, accurately tracking payroll costs across different projects or classes is crucial. This new feature in QuickBooks Online Payroll Premium & Elite takes away the hassle and manual effort previously required, offering a more streamlined, efficient process.

At Peak Advisers, we’re here to help you make the most of these new tools. Stay tuned for more updates and tips on how to maximize your QuickBooks experience. If you have any questions or need assistance, don’t hesitate to reach out to our team!

Important Security Update: Changes Coming to User Privileges in QuickBooks Online

Intuit is implementing significant updates to user privileges in QuickBooks Online (QBO) and QuickBooks Online Payroll (QBOP) starting September 2024. These changes will affect how non-admin users with standard and custom roles manage admin accounts.

At Peak Advisers, as your trusted QuickBooks Solution Provider and Intuit partner, we're committed to helping you navigate these updates designed to enhance your data protection.

Key Changes

1. Non-Admin User Restrictions: Non-admin users will no longer be able to add, edit, or delete admin users. They will retain the ability to manage other non-admin users, ensuring minimal disruption to daily operations.

2. Admin-Only Controls: In the future, only users with admin roles will have the authority to manage other admin users. This change aims to reduce the risk of unauthorized access and potential data breaches.

Why This Matters

These updates are crucial for safeguarding your financial information. By limiting the management of admin users to those with the highest level of access, you can have greater confidence in the security of your QuickBooks data.

How Peak Advisers Can Support You

We're here to help you implement these changes effectively:

• Guiding adjusting user roles

• Assisting with the implementation of new security measures

• Answering any questions you may have about the updates

For more detailed information, you can access a comprehensive guide on managing access in QuickBooks Online [link] or watch the video below.

Moving Forward

At Peak Advisers, we believe these changes will significantly enhance the security of your QuickBooks Online and Payroll accounts. We appreciate your cooperation as we work together to implement these critical updates.

Please don't hesitate to reach out if you have any concerns or need assistance. Your data security is our priority, and we're here to support you through this transition.

Optimize Your Shipping with QuickBooks Online: Compare Rates and Print Labels with Ease

QuickBooks Online offers a robust shipping integration that streamlines order fulfillment for businesses.

A big deal for any business that uses shipping

This feature allows you to easily take care of some of the most time-consuming tasks involved with shipping:

• Compare carrier rates

• Print labels

• Track shipments

You can get this done without leaving your QuickBooks dashboard. If you haven't explored this tool yet, here's everything you need to know to use it for your business.

What the shipping integration offers

With QuickBooks Online's shipping integration, powered by ShipEngine, you can:

• Compare real-time rates from multiple carriers (including UPS, FedEx, DSL, and USPS)

• Print shipping labels directly from your QuickBooks interface

• Automatically update your books with shipping costs and tracking information

This seamless integration saves you time, reduces errors, and potentially cuts shipping costs.

Setting up the shipping feature

Getting started is straightforward:

• Log in to your QuickBooks Online account

• Navigate to the "Shipping" section in your dashboard

• Link your existing carrier accounts or set up new ones

• Adjust your shipping preferences (e.g., default carrier, package sizes)

How to use the shipping integration

Once set up, here's how you can use the feature:

1. Compare Rates: When creating an invoice or sales receipt, select the shipping option to view and compare rates from various carriers.

2. Choose and Print: Confirm the shipment details and print the shipping label directly within QBO after selecting your preferred carrier.

3. Track Shipments: Monitor the status of your shipments without switching to another platform.

Real-world application

Consider Sarah, owner of an online plant shop. Before using QBO's shipping integration, she spent hours each week comparing rates on different websites and manually entering shipping information. With the new feature, Sarah creates invoices, selects shipping options, and prints labels all in one place. She reports saving time on shipping tasks and reducing costs by easily comparing carrier rates.

Benefits for your business

Integrating shipping into QBO offers several advantages:

• Time Efficiency: Manage orders and shipping from a single platform

• Cost Optimization: Easily compare rates to choose the most affordable option

• Reduced Errors: Automate the shipping process to minimize manual entry mistakes

• Improved Record-Keeping: Shipping data integrates seamlessly with your financial records

Pro tips for maximizing the shipping feature

• Stay Updated: Regularly check your carrier accounts for any rate changes or new services

• Batch Processing: For multiple orders, use batch printing to save time

• Analyze Data: Use QBO's reporting features to track shipping expenses and identify cost-saving opportunities

• Customize Preferences: Set up default package sizes and preferred carriers for even faster processing

It benefits any business that ships

The QBO shipping integration is particularly beneficial for:

• Small to medium-sized businesses handling regular shipments

• E-commerce businesses looking to streamline operations

• Companies aiming to reduce shipping costs and improve efficiency

If you're new to QuickBooks Online, this feature might be a compelling reason to consider the platform for your business needs.

Enhance your shipping strategy with Share A Refund

While QuickBooks Online's shipping integration helps you optimize your shipping process, another tool can take your shipping cost management to the next level: Share A Refund.

What is Share A Refund?

Share A Refund is a shipping audit solution that integrates with QuickBooks Online to further maximize your shipping savings. This tool automatically reviews your shipments for potential refunds due to the following:

• Late deliveries

• Billing errors

• Other discrepancies in carrier performance

How Share A Refund Complements QuickBooks Online Shipping

While QuickBooks Online helps you choose the best rates upfront, Share A Refund works behind the scenes to recover funds from carrier mistakes after shipments have been made. This two-pronged approach ensures you optimize your shipping costs before and after parcels leave your facility.

Benefits of Using Share A Refund

1. Automatic Audits: No need to manually review shipping records - Share A Refund does it for you

2. Recover Lost Funds: Identify and claim refunds you might have otherwise missed.

3. Time Savings: Reduce the time spent on shipping administration and auditing.

4. Improved Carrier Accountability: Ensure your carriers maintain their service commitments.

Getting Started with Share-A-Refund IS SUPER SIMPLE

As your QuickBooks Solution Provider, Peak Advisers offers Share A Refund as part of our suite of tools to help businesses like yours save money and time on shipping activities.

All you need to do is sign up for Share A Refund using this link and complete some basic information. The tool will take it from there to automatically start auditing your shipments and claiming refunds when you are entitled to them.

Bottom line

QuickBooks Online's shipping integration and tools like Share A Refund offer a powerful one-two punch for optimizing your shipping operations. You're streamlining your workflow by comparing rates and printing labels directly in QBO. Add in Share A Refund's automatic audits, and you're not just saving time—you're potentially recovering money you didn't know you were leaving on the table.

Ready to take your shipping strategy to the next level? Here's what you can do today:

1. Explore the shipping integration in your QuickBooks Online account

2. Set up your carrier preferences and start comparing rates

3. Contact Peak Advisers to learn how Share A Refund can further boost your shipping efficiency

Remember, in the world of e-commerce, efficient shipping isn't just about cutting costs—it's about gaining a competitive edge. By leveraging these tools, you're positioning your business for growth and success in an increasingly digital marketplace.

Need help getting started or want to optimize your existing setup? Peak Advisers is here to guide you through every step of the process. Let's work together to turn your shipping operations into a streamlined, cost-effective powerhouse.

5 essential tips for managing inventory in QuickBooks Online

Maintaining a healthy inventory of products to sell is always a balancing act. And it usually involves a lot of trial and error when your business is young. If you’re selling unique products that you’ve created yourself, it’s not so hard. You make one, you sell it, and your inventory is gone. 

It gets trickier if you’re mass-producing the same item or buying items in bulk or wholesale. How many will you be able to sell? Your first estimates may be wildly off base. You take those early losses and try to make better buying decisions. You want to have enough products in stock that you don’t have to turn away sales, but you also don’t want to tie up a lot of money in excess inventory that isn’t moving. 

As a business manager, you have to learn on your own where that sweet spot is for every item you stock. It can take months or even years. QuickBooks Online can’t make those buying decisions for you, but it can warn you when you’re running low and when you have too much on hand that isn’t selling so well.  

Here are five ways to improve that delicate balance. 

Make sure all of the inventory tracking options are turned on 

Click the gear icon in the upper right and scroll down to Sales on the Account and Settings page. In the Product and Services section, make sure all of the options are set to On (we’ll get to price rules later). Be sure to click Done when you’re finished. 

Don’t skip the detail on inventory product records

We strongly urge you to complete all fields in inventory item records.

We’ve described the process of creating inventory item records before. You click the gear icon in the upper right corner and select Lists | Products and services. Click New in the upper right and Inventory in the panel that slides out from the right. You’re only required to complete three fields here: Name, Initial quantity on hand, and As of date. This allows you to include those item records in transactions. QuickBooks Online will subtract items when you sell them and keep your inventory level current. 

In the above image, the Reorder point field is very important. When the inventory level for that product drops to the number you specify, QuickBooks Online will let you know. In fact, when your cursor is on the QTY (quantity) field in an invoice, the three numbers pictured above will appear in a pop-out window (Quantity on PO automatically appears in the record based on your current purchase orders). Be sure you pay attention to this information when you’re selling products. 

Set up flexible pricing 

There may be times when you want to temporarily lower the price of a product or products because they’re just not selling. Maybe it’s a seasonal issue, and you expect that sales will pick up at a later time. You can use QuickBooks Online’s Price rules. This tool allows you to discount certain products for a specified period of time. 

Let’s say you’re overstocked on fountain pumps, and you want to discount them for a month to see if you can reduce your inventory level. Click the gear icon in the upper right again and select Lists | All lists | Price Rules. Click Create a Rule and give it a Rule name. Price rules apply to all products and all customers by default. So you’d leave Customer | All customers as is. Scroll down under Products and Services and click Select individually. Under Price adjustment method, select Fixed amount. Choose Decrease by and 12, and in the next two fields, then No rounding. Enter the Start date and End date (optional).

You can create Price rules to decrease (or increase) prices temporarily for some or  all customers.

Click +Add product or service, then click the down arrow in the field under Products in the lower half of the screen. Scroll down to Fountain Pump and select it. Your Adjusted Price should appear in that column. Click Apply rule and then save it. This price will appear automatically when you create an invoice, though you can override it or delete it on the Price Rules page.  

Use the site’s inventory reports 

As you might imagine, QuickBooks Online offers excellent templates for inventory reports that you should be running on a regular basis. We talked about how the site alerts you to low stock levels when you’re creating invoices. But you should study the big picture on occasion. These reports are: 

• Inventory Valuation Summary. Transactions for each inventory item and how they affect quantity on hand, value, and cost

• Inventory Valuation Detail. The quantity on hand, value, and average cost for each inventory item

• Physical Inventory Worksheet. Your inventory items, with space to enter your physical count so you can compare to the quantity on hand in QuickBooks Online. QuickBooks Online allows you to adjust inventory levels, but this should be done with great care. We can advise you on this. 

You can also visit the Products & Services page, which displays a detailed profile of each item. If you’re low on stock or completely out, you’ll see that information at the top of the page. 

We can’t advise you on the inventory levels you should be maintaining. Over time, this will become easier to gauge. But we’re here if you have questions about the mechanics of inventory management or any other element of QuickBooks Online.

Understanding instant credit fees in QuickBooks Payments accounts

Navigating the intricacies of Intuit merchant accounts in QuickBooks can be daunting, especially when unexpected fees pile up. One such fee that often catches businesses off guard is the instant credit fee. But don’t worry—this guide will break down everything you need to know about this fee, how to set it up if you choose to, and, most importantly, how to avoid it.

What is the Instant Credit Fee?

The instant credit fee is a 1.75% charge applied to transactions when funds are transferred immediately into your account. While the convenience of instant access to your money can be appealing, these fees can quickly add up, cutting into your profits.

How to set up Instant Credit in Intuit

Ready to take control of your QuickBooks Payments account? Here’s how you can set up instant credit and manage your payments efficiently:

1. Go to Deposits:

   • Access your deposit accounts by navigating to the gear icon, selecting settings, and then going to payments.

2. Set Deposit Speed:

   • Click on 'deposit speed' to set your schedule for instant payments.

   • You can schedule instant payments up to six times a day. For instance, if you need instant credits processed on Mondays, you can set it specifically for that day.

3. Configure Your Schedule:

   • Choose the days and times you want instant payments in the deposit speed settings.

   • Save the schedule to ensure your settings are applied.

Example scenario

Imagine this: You're expecting a payment of $281.25. Following the steps mentioned above, you can schedule this payment for instant credit without incurring any charges, provided you meet the criteria set in your deposit schedule. This saves you money and ensures you have quick access to your funds.

Avoiding the Instant Credit Fee

If you'd rather keep that 1.75% in your pocket, here are some tips to avoid the instant credit fee:

• Opt for standard deposits, which typically take 1-2 business days but come without the extra charge.

• Carefully manage your cash flow to minimize the need for instant payments.

Final thoughts

Understanding and managing instant credit fees in QuickBooks Payments can save you significant money. By setting up your account correctly and planning your transactions, you can avoid unnecessary charges while ensuring your funds are available when needed.

For more tips and detailed guides on managing your finances, keep an eye on our blog or contact us at Peak Advisers.

Read More: Don’t let your business get overcharged for credit card transaction fees