What's New in QuickBooks from Connect | Firms Turning Away Work Due to Staffing Shortages

We're back from QuickBooks Connect 2023 with announcements, updates, new features, and improvements in QuickBooks Online. Also, EY got fined $3 million for cheating on ethics exams, and 42 percent of firms are turning away work due to staff shortages. Finally, we discuss the disruption of Alphabet's main search business by Microsoft, Amazon, and Apple in the AI-powered assistant space. Sponsors

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Chapters

(00:32) - Blake and David are back from QuickBooks Connect

(06:44) - New QuickBooks features announced at QuickBooks Connect

(07:31) - QuickBooks Ledger

(09:53) - Expanded roles and permissions in QBO

(10:22) - QuickBooks Payroll cost allocations

(11:29) - Chart of Accounts templates

(12:32) - Changes to ProAdvisor Program

(13:14) - Now you can copy QBO files to a sandbox

(16:26) - Blake's AI session at QuickBooks Connect

(24:54) - Blake will be giving a webinar on AI on Earmark's Webinars+

(27:40) - EY Texas gets a $3 million penalty for cheating on ethics exams

(34:42) - 46% of EY audits in 2022 had flaws

(37:54) - What numbers do investors care about?

(41:47) - PCAOB says they have doubled their fines in recent years

(43:42) - More cities are struggling with ERP rollouts

(45:04) - Zoho introduces practice management software for accountants

(46:52) - Tech Radar's top laptops for accountants

(48:11) - Intuit updates their tax software and shuts down Mint

(55:36) - 42% of accountants turn down work over staff shortages

(57:58) - ClientHub introduces AI-enabled email integration

(59:31) - 3 AI-based accounting companies raise a lot of money

(01:08:55) - Is Google/Alphabet in trouble?

(02:09) - 31 Wrap up and thanks for listening

Show Notes Intuit rolls out bevy of new features for the next tax season | Accounting Today https://www.accountingtoday.com/news/intuit-rolls-out-bevy-of-new-features-for-the-next-tax-year   New product innovations at announced at QuickBooks Connect help accountants drive small business growth https://www.firmofthefuture.com/quickbooks-connect/new-product-innovations/   PCAOB fines doubled in recent years | Accounting Today https://www.accountingtoday.com/news/pcaob-fines-doubled-in-recent-years   Accounting firms hit with record US fines over audit failures https://www.ft.com/content/25a65a49-4b94-4a80-82d8-435616a78f27   SURVEY: 42% of Accountants Turn Away Work Over Staff Shortages - CPA Trendlines https://cpatrendlines.com/2023/11/09/survey-48-of-accountants-turn-away-work-over-staff-shortages/   Black Ore Emerges from Stealth with $60 Million in Funding to Bring AI to Financial Services https://www.blackore.ai/articles/black-ore-emerges-from-stealth-with-60-million-funding Launching Zoho Practice: The Ultimate Practice Management Software https://www.zoho.com/blog/general/launching-zoho-practice.html   Bill Holdings Is Said to Near $1.95 Billion Deal for Melio https://www.bloomberg.com/news/articles/2023-11-08/bill-holdings-is-said-to-near-1-95-billion-deal-for-melio   Bill Holdings stock sinks amid report of $1.95B deal talks for Melio ... https://seekingalpha.com/news/4033680-bill-holdings-sinks-amid-report-of-195b-deal-talks-for-melio-payments   Bill Holdings denies media report on Melio deal   https://www.reuters.com/markets/deals/bill-holdings-nears-195-billion-payments-deal-melio-bloomberg-news-2023-11-08/   Puzzle secures $30m for revolutionary AI-powered accounting ... https://fintech.global/2023/11/15/puzzle-secures-30m-for-revolutionary-ai-powered-accounting-platform/   EY Gets $3 Million Penalty by Texas Board of Public Accountancy https://www.cpapracticeadvisor.com/2023/11/13/ey-gets-3-million-penalty-by-texas-board-of-public-accountancy/97576/   Bill's stock bounces after denial of report it was pursuing a $2 billion ... https://www.marketwatch.com/story/bills-stock-bounces-after-denial-of-report-it-was-pursuing-a-2-billion-cash-and-stock-buyout-of-melio-payments-7562580b   Black Ore Raises $60 Million and Debuts AI Tool for Accountants https://www.pymnts.com/news/investment-tracker/2023/black-ore-raises-60-million-dollars-debuts-artificial-intelligence-tool-accountants/   New Products at QuickBooks Connect Help Accountants Drive Small ... https://www.cpapracticeadvisor.com/2023/11/14/new-products-at-quickbooks-connect-help-accountants-drive-small-business-growth/97644/   St. Louis comptroller said prior mayor wanted new accounting ... https://www.stltoday.com/news/local/government-politics/st-louis-comptroller-said-prior-mayor-wanted-new-accounting-system-but-she-voted-for-it/article_8afa54ca-8275-11ee-9673-efc459761629.html   Intuit QuickBooks Unveils New Product Innovations at QuickBooks Connect that Help Accountants Drive Small Business Growth