Intuit has unveiled the launch of QuickBooks Online Advanced, a cloud-based solution aimed at accounting professionals and small businesses.

The company says QuickBooks Online Advanced can address the problems of rising complexity by making core business functions "easier, quicker, and safer".

The new QuickBooks product is set to include capabilities such as customized reports, sensitive data controls, and data restoration.

What's on offer?

QuickBooks Online Advanced retains all the features of Intuit’s most popular small business software solution, QuickBooks Online Plus.

In addition, the product also includes a range of new capabilities including customer performance tracking, which will enable users to track and compare metrics using custom charts, dashboards, and layouts.

Users are also set to receive improved capabilities to save their work, with the new "Backup & Restore" feature reportedly enabling automatic and continuous backups throughout the day, helping users to backtrack on mistakes.

In addition, Intuit also promises users better tools for reporting and categorization as part of the new solution, allowing them to build reports from scratch, using custom fields to add 12 fields per transaction, which it says will allow customers to categorize and analyze their transactions more granularly.

QuickBooks Online Advanced will also include features that will able users to control who can and can’t see sensitive data, allowing for an in-house accounting function to create a segregation of duties, limiting the amount of access to internal payroll administrators and bookkeepers.

Finally, the solution's Workflows feature will apparently allow users to set reminders for transactions with a due date, like invoices, payments, or deposits, allowing business owners to notify customers when they receive their payment, as well as send bills and invoices through pre-set approval flows.

Intuit says additional product capabilities will be added to the platform in the near future.