WSW - Podcast New AI Powered Bank Feed
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[00:00:00]
Introduction to Workshop Wednesdays
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Dan DeLong: Well welcome everyone to another workshop, Wednesdays Casual Conversations for Serious Workflows, brought to you by school bookkeeping.com, where it's all about learning QuickBooks your way, however you prefer, whether it's a do it with you or do it for you or do it yourself, [00:01:00] run the on the spectrum, so nothing more.
Serious in an accountant's workflows than the bank feed. Right Rachel?
Rachel Dauchy: Yep.
Dan DeLong: How important is Well
Rachel Dauchy: in, in QuickBooks Online?
Dan DeLong: Yeah.
Rachel Dauchy: Specifically. Yeah.
The Importance of Bank Feeds in QuickBooks
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Dan DeLong: How important is managing the bank feed to you and your practice in your day-to-day? Would you say it's like 50% of where you live or is it more, more or less than that?
Rachel Dauchy: Um. Well, for me personally, I, I'm not in the bank feeds anymore, but for my team it is very important.
Dan DeLong: Nette deposited, I should say. Yeah, Nette deposited.
Rachel Dauchy: It's very important 'cause we typically manage our clients' bank feeds. Um, because as I usually say, it's, it's very important. It's usually the source of a lot of mistakes if done wrong.
So for me it's very important. But I was gonna say for other folks, [00:02:00] it really depends on who you ask, right? Yeah, yeah. For those people that are,
Dan DeLong: that are watching, you know, how, how important is the bank feed to you?
Rachel Dauchy: Yeah, I mean, for some people m maybe that are newer to QuickBooks and, and maybe don't understand it as much, maybe it's less important.
Um, you know, for somebody that might be a, a stronger user, it's very important. So it, it, I think it really depends.
Dan DeLong: Yeah, that's, so the, the adult diaper answer it, it depends.
Rachel Dauchy: Always depends, right? Ugh.
Dan DeLong: Right. So here's our question of the day. How important is in, whoops, I spelled it wrong. So is that's what I should say.
How important is the QBO bank feed in your day to day? Right. Yeah. Um, I think that is one of the, the bank feed itself is probably one of QuickBooks online's shining. Features, right? Because, um, [00:03:00] compared, you know, stacking it up against, you know, QuickBooks desktop, um, you know that there, there are things that you could do just natively in, in the QuickBooks online bank feed that you can't do in desktop.
Like, you know, skip over the workflows, right? Yeah. So, you know, and, and going back in time of. When, you know, QuickBooks Bank, you know, online banking was a thing, right? The main reason or the whole purpose of, of the bank feed itself was to help with bank reconciliation, right? Because Yep. When you get that statement in comparing it and, and matching that to what you have inside of your, inside of your QuickBooks is.
You know, part of the key fundamental workflows of making sure that your books are up to date, right? So the bank feed itself was to solve for that [00:04:00] bank, making sure that what's in QuickBooks matches the bank's reality of what should be in QuickBooks, right? So, yes. That was the whole purpose is just downloading the transactions and matching or adding the transaction inside of QuickBooks.
Challenges and Flexibility in Bank Feeds
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Dan DeLong: Now with QuickBooks online, um, you can start to skip over some of the things that you should have done inside of your QuickBooks, right? Yeah. So like if you have a deposit coming in and it's a. It's really a customer payment. You can look at potential transactions that are still open and assign it to open invoices.
Right? Yeah. So then QuickBooks then starts to create the missing workflows for you, and I think it's a double-edged sword. Um, and Rachel, I'm, I'm kind of curious of what your, your position on that or your perspective is that if you miss, uh. The next in line type of transaction, like invoice, you should be [00:05:00] creating a payment.
Mm-hmm. And you should be depositing it. Yeah. Right. So if you skipped either of those two steps. The bank fee allows you just to apply that payment or apply that deposit to the open invoice. You're done.
Rachel Dauchy: Yeah. Uh,
Dan DeLong: what are you, what are your thoughts about that? Are you gonna be like, that's, well, I, that's nice.
Rachel Dauchy: Yeah. I mean, I am, now that I'm much more experienced, I'm inclined to really follow the proper workflow. I really wanna make sure that there's a received payment for every time there is an invoice. Um, but, you know, I like that. You know, if something maybe unusual is going on, I can just apply it directly to the invoice.
I like the fact that there's a lot of, um. Flexibility and I can kind of do this, or you know, especially if I'm going back and I'm fixing something, I have the option to do this or I have the option to do that. Just yesterday I was trying to get a match and, and I was in the new bank [00:06:00] feed, which we'll talk about, and, um, I was, I couldn't get that match.
I know it's in there. It's not reconciled. I'm in the right date frame. Like why is it not matching? And I think there's some things going on in the new interface that maybe are causing things to not match. There is no reason why this should not be matching, but I was like, well, let me just take off the receive payment and just match it directly to the.
To the invoice because I knew that way I could mm-hmm. Um, get it out of the bank feed. And so I like that there's a lot of different, you know, interesting ways that I can kind of monkey with it and make it work. But, um, but it's so funny 'cause like, as I've become, you know, more of a power user of QBO, um.
You know, and I, and at being the owner of an accounting firm, I have a lot of different exposure to a lot of different kinds of business owners and some folks just [00:07:00] don't want or like, or need the bank feeds. And so it's really, now I've sort of grown to understand that bank feed's really amazing and awesome for those of us that love the automation and you know, they're.
Folks that really are into QuickBooks online because they really appreciate and are really into automation and. Um, you know, a lot of the features that it'll do for you and, you know, a lot of times you're setting up for that match, right? Mm-hmm. Um, and, you know, so I love the automation and I love that I can use the bank feeds to pull in, you know, all the things.
And, and, and a lot of times I, I will add things right out of the bank feeds and, and so it, I think it's a, I think it's a really great thing, but then every once in a while I'll run into, you know, maybe. Somebody a little more old school and they don't want it. They wanna enter everything the old fashioned way.
Right.
Dan DeLong: And
Rachel Dauchy: so it's interesting [00:08:00] that I've, you know, you kind of run into the gamut out there of a lot of different people, but in, in. The QBO and Intuit world. Um, you know, it, I I, it seems that most people really prefer the bank feeds and, and appreciate the automation.
Adapting to Changes in QuickBooks
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Rachel Dauchy: It's just that, that they change the way that it looks all the time.
And that's where it drives me cuckoo.
Dan DeLong: Yeah. That, that is probably like. I, I think that's probably the biggest challenge and, and hurdle. Yeah. Right. So if you have a feature and a function of, of that is essentially a core offering, uh, or a core function of, of QuickBooks, there is no delicate way to make a change to that.
Rachel Dauchy: Right. So,
Dan DeLong: so I can, I can appreciate that, you know, they've. Pretty much overhauled the whole thing because rather than just kind of take, you know, a death by a thousand cuts of like, we're gonna tweak this and we're gonna tweak that, they [00:09:00] just basically, you know, rip the bandaid off. You, you, you end up, you know, needing to spend, you know, uh.
A, a painful amount of time, however it is, if, whether it's, you know, 10 minutes or an hour, getting yourself acclimated to the new layout and whatnot, and then after that and you're, you're in it so, so much as a, as a bookkeeping professional that, okay, these things just kind of make sense. Right. Yeah.
Rachel Dauchy: And it's, it's funny because I am, you know, fully aware now that what, how, how we use it, you know, we're always wanting to improve efficiency and.
You know, it makes me think of Hector Garcia who's like, I wanna improve, I wanna take two seconds outta my process. Right. You know, and have, you know, three clicks instead of five clicks. And, you know, he's the master of efficiency and, um, and it, and it's a big deal. You know, you can end up saving a lot of time.
So just when you kind of think you have something streamlined. [00:10:00] Uh, 'cause you're doing a lot of books, you know, that's totally different than, you know, Intuit's, um, responsibility for selling to business owners that are DIYing. Mm-hmm. You know, I understand not everybody is using a bookkeeping or accounting professional, so, you know, it's, they have a hard job having to.
Appeal to very different consumer groups and you know, basically selling one product to pe Some business owners who have no, or you know, business folk that have no idea what they're doing to seasoned accountants with accounting degrees. I mean, yeah. It that's not, you know, you, that's a unique situation to be in, having to sell a product to Yeah.
Those one singular product to two different groups. And I know they've been through all kinds of things, like, we're gonna have a business view, we're gonna have an accountant view that's gonna solve our, our problem. [00:11:00] So I I, which didn't work out well, so I, I know they have a, um, a tough job, I think. Yeah.
And so I, it's interesting to kind of see how. They're, you know, coming up with these things to kind of speak to the two, two groups. And now I sort of realize more than ever that, you know, what I think as the accounting professional. I am gonna have to kind of be a little more flexible because if I wanna keep using this as a tool for all of my clients Yeah.
Then, um, which by the way, it's not all on my claim for using some other stuff now. Yeah. Um, then you know, it, it's fine. I'm fine with adapting a little bit.
Dan DeLong: Yeah. And, um, and actually Intuit, uh, just released actually today, um, their, um, the results of their, um. Tech survey every year. They do, uh, they, they, they do, um, a survey of accounting professionals, uh, and, um, about [00:12:00] technology and how those firms are, are adapting or struggling to adapt new technology.
And it's, it's a pretty, it's pretty interesting. And I'm, um, I just posted a blog about it and I'll, I'll share that, uh, as well. But, um. Part of the, part of the challenge, and, and to you to what you were saying there is that, you know, you, you finally get, get it down and then things change.
Rachel Dauchy: Yeah.
Dan DeLong: So like there is, there is that learning curve of learning something new going into, and especially in, in an online serv software as a service where, yeah.
Uh, when I worked there, the first call of the day is when I found out what changed because somebody was gonna call, right? Call, call about it. It was like, oh, what'd they change today? Right. Like, you know, because it's, it's impossible to be totally prepared, you know, for all of the things that were, that would happen [00:13:00] when they make, when they make a change like that, you know, the whole analogy of, you know, QuickBooks is a ball of rubber bands and every single thing is.
Needs to be put back exactly the same way when they try to fix something or modify something without breaking something else. Right. So, um, yeah, and
Rachel Dauchy: it, and it definitely, um. It definitely can be a little disruptive. And I, and I found, and I've, I've found even now as a firm owner, you just can't teach that stuff.
Like, oh, you are gonna get, um, slowed down by software changes. I mean, that's just you, you'll, you, it just happens. There's really not anything that you can do. And it's not even the fact that they're improving it, like I could probably learn it. It's just that. Then now my team has to learn it. Yeah. And you know, everybody at the, my, if I'm talking about a client, like if they've got somebody that's using the new feature, then, you know, if they've got a couple people, they've gotta tra train, you know?
Mm-hmm. It [00:14:00] just, it kind of causes a snowball.
Dan DeLong: Yeah, absolutely. And it's, it's always that, you know, if you, if you don't want something to change, don't use software at all. Right. Yeah. You know? Yeah. I mean, I mean, even if you're like, well, I love Excel. Right, right. Well. When has Excel not changed? Right? Like even in, uh, ev, you know, every so often, you know, Microsoft updates Excel, and then there's Yeah.
Menu option or a new function. Yes. The core functionality of Excel is probably not changed, but you know, whether this is shared or, you know, OneDrive is. Pestering you, Hey, hey, let me save that file on the cloud, you
Rachel Dauchy: know? Yeah. And I think that the conversation has now become more, okay. Things are gonna change, so how quickly can you adapt to them?
They down. Yeah. And, you know, folding it into your firm, folding it into your operations mm-hmm. And making sure that [00:15:00] you're not, you know, causing a whole bunch of confusion. 'cause then the world of SaaS, everything is gonna change.
Dan DeLong: Yeah, absolutely.
New AI-Powered Bank Feed Features
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Dan DeLong: So I put up, uh, in the upper corner and I put in the, uh, comments, a blog article that we're gonna talk about with, uh, with, with regards to the bank fees.
Let me just share that really quickly. So, yeah. So. I like to put a little dose or a healthy dose of skepticism, or at least trying to be objective, uh, in, in these, in these kinds of changes, right? So, you know, mm-hmm. Being that the bank feed was working pretty well, why even change it? Right? Like that's, that's part of the, part of the challenge.
And so the first thing that we have here in the blog is. You know, what was in the old bank feed, what's in the new AI powered bank feed? What? And really, what's the difference? So this chart here should hopefully give you, you know, a a, a good understanding as to overarching wise, [00:16:00] what, what changed. And, and I'll go into QuickBooks here in a second.
Um, but we're not really gonna. Match transactions or, or you know, put, you know, start to categorize transactions because you know, that's real data. So it's kind of hard to demonstrate these things when you know you kind of need. You know, having fake data to do all that is, is kind of challenging, right? So, um, one of the biggest things that I struggled with explaining to people was this, that was just the terminology of ad versus match and what that actually did.
Uh, so part of the, part of this overhaul is changing the terminology that's utilized inside of the bank feed to make a little bit more sense, right? So instead of. Um, add, which in essence is a downloaded transaction that's not in your, that, that it doesn't find a match. Right? Correct. Then it would add the transaction into [00:17:00] the, the register or, or whatever bank account that you, you were in or credit card add, would, would do that.
They've changed that term to. Post. Right. I like
Rachel Dauchy: that. I have to say that I like, right.
Dan DeLong: So the two actions of, of, uh, of what's gonna happen to a downloaded transaction is either gonna match to a transaction that's already there or it's going to post a transaction that's not there. Right. So that, well, because
Rachel Dauchy: that's the actual accounting term is you're posting it to the ledger.
Yeah,
Dan DeLong: exactly. And they changed the word, um. You know, and, and added this word, uh, match or categorize as a little slider bar, uh, so that you can choose what do you wanna do with that, right? Like, if it thinks it's a match and it's not really, uh, one that you wanna match, then you can change it to categorize.
So those terminologies are, uh, a little bit more user friendly because, you know, for those [00:18:00] people who are doing their books their way and they're, you know, maybe they're doing it. That maybe they own the bank feed part of things or they haven't met up with, uh, someone like Rachel to, to take over this, this task for them, or they just want to see, you know, the transactions come in and, and categorize them themselves.
They can certainly do that. And now it makes a little bit more. Sense to somebody who's not sitting in the bank feed on, on a day-to-day basis. Okay, well I wanna post this transaction, or, you know, because ADD could have mul, it's one of those words that could have multiple, um, definitions or, or, you know, right.
Results of that. Right. So add, is that a mathematical thing that we're talking about, or
Rachel Dauchy: Yeah.
Dan DeLong: Are we adding the transaction?
Rachel Dauchy: Or it could be misinterpreted as. Add it to something that has already Yeah, been added. Right, right, right. Somebody could determine that
Dan DeLong: [00:19:00] definition to be match, right, instead of, yeah,
Rachel Dauchy: exactly.
And so they're mistaking one for the other, and so, mm-hmm. I. I do sometimes from, from potential clients that, that I'm talking to, they, this is their number one source of confusion. Mm-hmm.
Dan DeLong: Yeah. And a, and a big challenge also was the dealing with transfers, right? So when you have two accounts that are, that are connected, both sides, a, a checking and a savings, and say you do a transfer from a checking to the savings, um, depending on.
Your rules that you might have set up or who, which one you acted with, acted to first. It could either get duplicated or not. And when that happens, then now you've got duplication, and now you've created a problem in the name of efficiency.
Rachel Dauchy: Yeah. So that Yeah. Which is what we spend the most time cleaning up.
Dan DeLong: Right. So that's one of the things that's, that's part of this overhaul is, [00:20:00] uh, is pairing, um. Transfers in, in, in more so than what it was doing in the, in the old bank feed. Yeah. So you have a, and, and it's, it makes it a little bit more bubbles up to the surface. Uh, so the whole idea of, of this new AI powered bank feed is, is to kind of give the best of both worlds, right?
The things that. That we're good about the bank feed are continuing and the new things that they're looking to do inside of the bank feed are just kind of added to that. So it's should be a, a, a harmonious, that's the goal, should be a harmonious, uh, union of what was good with the old bank feed and what, uh, where, where technology is kind of driving the changes that, that Intuit is looking to make.
So that's what this chart is all about. Right. And you know, it's designed to give less manual work. You can customize the way the bank feed looks, the [00:21:00] smarter suggestions. Uh, those are things that, that, that should allow you to do.
Exploring the New Bank Feed
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Dan DeLong: I have been using the new bank feed. I don't know about, uh, you, um. The context that it's able to provide inside the bank feed now without you having to browse to other places is is pretty.
Um, yeah,
Rachel Dauchy: that I like.
Challenges with Smart Suggestions
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Rachel Dauchy: That I like, but I will say the smarter suggestions is probably the one thing that I would say. I don't know. I don't, because that's the one thing that. Um, I, I would say in, if I had a pie that I had to split up of things like it, um, things that confuse people about the bank feeds and I had to split it up into like, you know, portions of a pie uhhuh, I would say 95% of it is, why is it suggesting that this is the account?
This isn't the account, right? It's not this account, it's not that account. And I'm like. That's okay. [00:22:00] It's suggesting it, we know it's not right. Oh my gosh. I, it, it's like if I had a nickel for that, so that, I mean, for every time, you know, I'd be a millionaire, but that to me is dri drives people down the wrong road almost.
I almost wish that that wasn't even there. Mm-hmm. Because of the confusion that it causes.
Dan DeLong: Right.
AI and Technology in QuickBooks
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Dan DeLong: Um, and now, um, you know, Intuit is, is calling the, you know, the, the, the, the AI icon, which is like these little diamonds, the different, different kind of diamonds. They're calling them sparkles. So it is kind of like this magic dust that, uh, that mm-hmm.
That you're seeing sprinkled throughout, uh, QuickBooks. But that is kind of like. I think where we're at right now with regards to, you know, AI and technology and machine learning and all of the, um, you know, the, the, the computing and technology things that we seem to be struggling with. That is kind of the [00:23:00] indicator in, at least in my mind when I see it, that icon, I'm like, okay, this is something new and, and it, and it needs some.
Investigation. Right? So it's, this is, this is something that technology is trying to do and it's not necessarily a human that has interfaced with this. Maybe not yet, but let's check it out. Um, and, you know, see if it's, see if it, it, it has some value or, or maybe it's just, you know, kind of making things up, uh, along the way.
You know, uh, 'cause AI hallucinations, uh, is not. A bug, right? Like AI being incorrect is not a flaw. It's just a, a, a, a, a, a, an an issue with the inputs, right? So, yeah. You know, if, if it's giving you smarter suggestions that seem dumb, [00:24:00] then it's basing that off of dumb inputs, right? Yeah. So, um. I don't know where they're getting their information to make those suggestions.
Maybe it's all businesses. Maybe it's all businesses in your industry. Maybe it's information from the, the, you know, from the bank feed or from Yeah. You know, from the, um. Uh, the, the bank detail, uh, that it's trying to parse out and that maybe have a flaw in it, right? So the, it's, it's not that. It's, and it wanted to give you an answer and, and, and be helpful.
You know, it's kind of like clippy from, um, Microsoft office zipping by on his bicycle saying, Hey, do you wanna write an email?
Rachel Dauchy: I feel like, like if I could have a, um. Like, if I could ask the AI brainiacs one question, I would say, um, [00:25:00] if it doesn't have the exact category, can I turn on an option to leave it blank?
Like that's kind of, mm-hmm. What I would like, because then we're the ones that have to translate it to right. The folks and go, well, it's not that it's the halluc hallucinations not bad. It's just that it's pulling from a source and it doesn't understand and yada yada. And, and I feel like they're not as tech savvy, so that it might, they might not understand or whatever.
So that's, that's really my only contention and I know that. Everybody that works in the bank feeds has had that, where they're like, this isn't the category. What is it? Even thinking, so that, that to me is just one thing that it has nothing to do with this upgrade. It just has, it's the one thing about the bank feeds that I don't love.
Mm-hmm. Is this this smart? Suggestion. And, um, but that's why I do utilize rules for certain things, for certain things. Mm-hmm. I don't like to do it with [00:26:00] money in, but, um, but, but certain things that are not Amazon or, you know, that it could go anyway. Mm-hmm. We definitely use a lot of rules to, um, yeah. To save a lot of time and so we'll, we'll continue using any kind of, um, enhanced AI for.
That they're offering that, you know, get smarter over time for that kind of stuff. Mm-hmm. 100%. Yeah.
Navigating the New Bank Feed Interface
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Dan DeLong: So this is the, this is just a dummy demo account. You can see the transactions in here from 2018. So, um. Certainly not up to date, but what I want to point out here is lemme just zoom in a little bit and let's get over here.
So this banner, you know, when you, when you're, um, logging into the bank feed and you're still on the old, uh, old bank feed, uh, if you see this banner across the top, uh, you can click on this link here. And this is, this is one of the things I gotta give. Some credit to, uh, to Intuit for is the amount of [00:27:00] resources that they've put in the product.
So you don't have to go hunting down a webinar or look for the in the know or whatever. Uh, you can just click on this, see what's changed here. And, uh, well now you don't have any real estate in your side of your QuickBooks, but,
Rachel Dauchy: but this,
Dan DeLong: this sidebar that, that comes up, um, it's got a built-in YouTube video.
Uh, it's got some tips, um, you know, kind of highlights as to what it is. Uh, what, what it's supposed to be doing. And then these frequently asked questions are pretty cool too, because like, where are my AI suggestions? How do these work? And then you can get more information about how the AI suggestions work, right?
And then your basics and navigation. How do you, how do you do all these things and when you switch, right? So let me back up a second here. So, uh, when you decide and, and. Make no mistake, there will be a point where you will not be able to [00:28:00] decide, right? And you can't flip back and forth. I mean, this is something that if you're looking for, you know this, to stay the same way.
Um. You're gonna be sorely disappointed because it, it's going to change. Um, it's just a matter, we're in this grace period point where you can flip back and forth between, you know, if it's causing problem or if there's a flaw or something like that. Uh, but eventually, and, and probably around, you know, September, October timeframe, everybody will be on.
The new bank feeds. So trying to resist the change is, is really not a great idea. Futile? Yes. Yes. It's, uh, the Borg of Star Trek, right? Resistance is futile here.
Feedback and Improvements
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Dan DeLong: Um, but I will talk to you, uh, talk just a minute, um, after we go through this about providing feedback about. Uh, about the bank feed. They've, um, Intuit has actually created a, a new channel specifically just for this bank feed.[00:29:00]
And it's, it's actually really cool. Cool.
Rachel Dauchy: Um,
Dan DeLong: but if you're in, uh, you see what's changed here, um, you can go down to the, the frequently asked questions, basics, navigation, and then of. The, you know, this is where the accounting agent, and we talked about that a couple, uh, a couple workshops ago. This is where the accounting agent is gonna be living for all versions that have it, right?
So you've got, with Simple Start, you've got a little bit with the suggestions, but the accounting AI agent, uh, in essentials and uh, higher versions, uh, has a little bit more. Robustness to it and, and further features. Uh, but this is, this is the core of the accounting agent's function to be handling, uh, in the bank feed, right?
So once you change, when you decide, okay, I'm gonna try the new banking feed, uh, it's gonna take, uh, a minute. For that to change. And by a minute, I, it could be an hour or two. Um, [00:30:00] so it doesn't instantaneously change on you. So when you click on the new, try the new banking page, um, it's gonna tell you, well wait a second and then come back.
So don't turn it on. If you've got work to do, uh, do it at the end and then, you know, next time that you go in there, it'll be new. And when. When you log into it for the first time after you've made the change, it's gonna give you that information that just, uh, that we just showed there on the sidebar front and center.
Right? Like, so you're, you're gonna be essentially forced to review the change before you actually start using the change. Right. And so what we've done at school bookkeeping, we have a QBO banking, uh, course. Uh, so you can see the old one. And we've taken all of the. So the topics that, um, and, and resources that Intuit's made available and compiled them in one place there too.
So if you have a specific question about something in the [00:31:00] QBO Bank feed course, new or old, you can ask in the comments or in our community and we'll, we'll be able to answer those questions, uh, for you right there. Instead of having to deal with, uh, with Intuit, uh, directly. But yeah,
Rachel Dauchy: and by the way, I would say if somebody's new to QuickBooks Online, um, let's say you're, you know, uh, employed at a business tasked with working in QuickBooks Online, or you're a business owner, kind of DIYing, if, if you're not sure, bank feeds are an, in my opinion, like one of the best places to start mm-hmm.
With kind of. Familiarizing yourself with QBO because they're so, uh, uh, it's really the point of entry with a, with most things. Um, and technically you could enter all your transactions through the bank feed if you, if you had to. So, um, so I highly recommend people [00:32:00] check out that course. Yeah, because it's.
It, this, this is very important.
Dan DeLong: Yeah. It's a, it's a core feature and offering. Yeah. Inside of QuickBooks online. So in our co in our bank feed course, we've added a submodule, uh, just for the, the, the topics of the new AI bank feed. Uh, you can access it for free for 30 days if you're not a member, uh, of school, of bookkeeping, we have a 30 day trial.
So if that's something that's interesting to you. Take a look at that course and, uh, ask your questions in there if you need to. Now, in the blog at the bottom here, um, again, we're, we're, we're, we're mentioning that, you know, resistance to the new bank feed is, is pretty futile, but. Um, you, you, you are along for the ride and they do value your feedback, right?
Um, you know, everywhere there's a place inside of QuickBooks to give feedback. Um, the challenge is, is that once you send that [00:33:00] feedback, you don't know whether. They got it. Whether it posted, whether somebody read it. Um, it was, they may be going delete,
Rachel Dauchy: delete, delete, delete, delete, delete, delete.
Dan DeLong: And he's like, oh, Rachel again, she's
Rachel Dauchy: that
Dan DeLong: crazy lady
Rachel Dauchy: again complaining about.
Smart suggestions
Dan DeLong: there, although I think
Rachel Dauchy: they've improved it. Do they still suggest everything go to Uncategorized asset?
Dan DeLong: Um, I don't know. Um, they, they, they may have made that, made that change, but there used to be a, uh, a feedback place. Um. When I, when I worked there, that was for a, a period of time called Voice of the Customer.
Um, and you could actually see, um, you could see, uh, posts, you could see people's, uh, uh, suggestions. And as a logged in person in that portal, you could vote on them. So you don't have to sit [00:34:00] there and. Put in your feedback and then somebody else put in the exact same feedback and then somebody else having to realize that this equals that and make it two.
Yeah, you can just go in there and just go, I like that idea.
Rachel Dauchy: Yeah, like, or vote it up.
Dan DeLong: Exactly, exactly. So, um, for this, this functionality, for this feature, this initiative of the new bank feed, uh, Intuit is trying something new, which is very similar to what we just talked about there. And it's called Canny.
Um, and, um, they're just doing it for the new bank feeds. Uh, and in there you can see the roadmap of what's planned, what has been released, um. Right now, there's only eight things in here, um, but you can see, um, you know, you can categorize, um, uh, things in here. You can create a, a post, um, and put in your feedback.[00:35:00]
Uh, once you've, once you've, uh, created a login suggestion is to use the same email address for this login as your, as your QuickBooks online. Uh, Intuit login. So the, there's a, there's a connection, uh, between the two. Um, and you can see the change log, uh, as far as this also gives now, uh, product managers and developers.
A, a way to communicate the feedback back to you, right? Like, here's the things that, that, that we're working on, right? So anything, uh, that's in here, let me go into, let's say, group transactions by status of the request for information. Well, so that was a, that was a suggestion, right? Uh, and this person here is saying a new grouping option would allow you to.
Uh, view transactions in the bank transactions by their request for more information status. Uh, these transactions are now neatly organized for waiting for reply, reply, [00:36:00] received and completed. So this is something that's planned and you can just go in here and bump it up. Right? So right now it's got four, four people voted, uh, voted on it, right?
So this would be, um. You know, part of the process, you know, rather than just trying to struggle with, um, with the change, making it better and seeing and, and interacting with others who are having the same potential struggles as you. Uh, yeah, that's a great idea. You may, you may find in here that there is a solution or a workaround, uh, in here, or it's something that is going to be taken care of so you can kind of.
Get off the, get down from your soapbox of like shaking your fists at at, at Intuit for making this change. To begin with, you can actually see a little bit more transparent of what feedback is being. [00:37:00] Collected and what feedback is being worked on, um, and maybe some of the things that you didn't even think of that are already being worked on.
So this is, um, I, I, kudos to, oh, look, you can
Rachel Dauchy: even see who's been voting on it too. Yeah. That's pretty cool.
Dan DeLong: Exactly.
Rachel Dauchy: Did you happen to come across anything that talks specifically about matching? Because, you know, that's another thing is that, um, and I, and, and that's not. Specific. Well, is that considered a bank feed function?
I don't really know. Mm-hmm. But really it's searching for a match in there and a lot of times, um, there is a transaction in there and it's not bringing up a match. Yeah. And so I'm always looking for ways to troubleshoot that.
Dan DeLong: Yeah. I don't see anything in here. 'cause uh, this was just, um. Just announced, I think earlier this week, um, this particular, uh, outlet.
Mm-hmm. Um, so it, it's probably. On. People are unaware that it's even [00:38:00] there. Yeah. I think there's only eight people and um, you know, half of them might be Intuit product managers. Yeah. Being in here. So I see
Rachel Dauchy: Wayne there. You know, I'm, that's cool though. I'm gonna, I'm gonna get into this thing and I'm going to, um, we have a, we have a link there for
Dan DeLong: it.
We have a link there for it Right. In the blog. So
Rachel Dauchy: Cool. Um,
Dan DeLong: so you can access that. Um, so that is, um. You know, we didn't really unpack, you know, how to do things. But again, that's, that's kind of, uh, part of the challenge. And by the time we would do it and maybe struggle with it, they may have corrected it.
Right. Yeah. Um, you know, because this, this, uh, this screenshot of, you know, match versus categorize, part of the feedback was, Hey, these need to be a little bit more. Uh, pronounced instead of this light gray. Uh, yeah, I don't like that.
Rachel Dauchy: I don't like that. 'cause I can't tell. Well, what's selected? It
Dan DeLong: should be black
Rachel Dauchy: selected.
[00:39:00] Yeah. Yeah. Right.
Dan DeLong: So now those, those changes have already been implemented, right? Yeah. So just this screenshot on the blog is already outdated, so Yeah. Um, get yourself familiar with, with using the new AI powered bank feed. Um, and then hopefully this blog will will help. And, uh, if needed, uh, go into the School of Bookkeeping, uh, course catalog and, uh, and, and learn about, uh, the old versus the new.
Uh, ask your questions in there if you need to, and, uh, we will, we will be there to help.
Upcoming Topics and Conclusion
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Dan DeLong: Uh, so next time on the workshop, uh, we are going to be, what are we gonna be talking about? So I always forget what's next, next week. Where, scrolling down
Rachel Dauchy: Na nvo na naven.
Dan DeLong: Next week. Demo week. Uh, no, we're doing, um, we're, we're gonna talk about, oh, sorry,
Rachel Dauchy: that was rightful
Dan DeLong: custom [00:40:00] fields.
There's been some changes to custom fields and we'll be talking about that next week, uh, on the, on the workshop. So, um, some changes, uh, that, that are there. Uh, re regarding, uh, custom fields inside of QuickBooks. And so, uh, appreciate you joining us, uh, today on the on the Workshop Wednesday, and we'll see you next week and hope everybody has a great week.
Bye.
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