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💸 Finance Edition 💸 | May 2023

Now that Tax Day is over and done with, I wanted to introduce myself as well as the new accounting and bookkeeping product features we’ve been working on!

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My name is Olivia and I’m here to help you learn how to incorporate MarginEdge into your day-to-day so you can focus less on data entry and more on what you do best - being the financial superhero for your clients. 

Now, onto the updates:

Listening to customers is very important to our development team and we’ve heard you! Over the last few months our team has been improving product features specifically for bookkeepers and accountants. Here’s a quick glance at our latest updates.

  • ⚡ Faster Electronic Payments
  • 💳 Paying a Vendor without an Invoice
  • 🔄 Recurring Expenses without Invoices now Included in Reporting
  • ✨A New and Improved Invoice Approval Process
  • ⚙️ M3 Accounting Integration

And while not a product update, we wanted to be sure you knew about our free QuickBooks migration service. You can read more about this below.

Please feel free to reach out to me at with any product questions or suggestions.

Thank you for being a MarginEdge client,release note pic name

Faster electronic payments

We’ve made some enhancements to how we process electronic payments so bills in MarginEdge can now go from “Approved” to “Paid” in as little as just two days. 

In addition to more efficient and more frequent paydays for your clients’ vendors, here are some things to keep in mind that may impact your current operational workflow: 

  • Payments submitted before 2pm EST will be delivered to the vendor in 2 business days
  • Payments submitted after 2pm EST will be delivered to the vendor in 3 business days
  • There are no changes to deadlines for check payments

*Previously, the time it took for payments to hit vendors’ bank accounts was 3-4 business days.

Faster payouts will give your clients’ businesses more flexibility and more control over their cash flows as well as position them to be their vendor’s new favorite client. Learn more here.


Just pay a vendor

Sometimes you need to pay someone right away. The invoice got buried in your desk and the due date is, yikes, tomorrow. We’ve all been there. Or maybe the invoice is missing and you get a call from your client to pay it so their next order can be processed.

You can now create an invoice and then pay it immediately, receiving its cost details in 1-2 business days.  Simple and quick. Any uploaded images thereafter will go through regular invoice processing and be automatically connected to the payment. Learn more here.


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Incorporate recurring expenses without invoices in your reporting

Invoices aren’t always on a piece of paper or in an email. To include expenses that you may not have an “official” invoice for, you can now create them at the category level. This is convenient for recurring payments like rent, marketing expenses, or equipment purchases.

Once the invoice is created, you’ll have a faster way to account for category-level costs to see overall performance in category reports like Budgets and your P&L. 

Other actions you can take once the invoice is created:

  • Immediately pay them using the Bill Pay module
  • Automatically export them to the accounting software
  • Optionally attach images or documents

Learn more here.

Approval invoice improveNew and improved invoice approval process

You now have more control over which invoices need your extra seal of approval and can even revert an invoice from “Closed” back to “Pending” to edit any data. We’ve also cleaned up the approval page so you can finally close out all those extra tabs you have open and instead, cross-reference your invoice data - all from the same page. Lastly, we moved the “Approve” button to the top right of your screen so you don’t have to scroll 3 miles down to find it anymore. Learn more here.

M3 accounting integration

Running a restaurant’s finance operations should be as smooth as bechamel. Okay, maybe as smooth as pancake batter IRL, but we’re high on optimism here. With the addition of M3, we now integrate with 15 accounting systems. We’re adding new integrations constantly, so if there’s one you don’t see Accounting integrations let us know at Learn more here.


Free QuickBooks migration

So you know the writing is on the wall about QuickBooks Desktop, but you’re dreading moving to QuickBooks Online more than the cut you get on your tongue licking envelopes. As Intuit’s first restaurant industry unified solution provider, we can help ensure you are using the best bookkeeping system for your business. Our seriously qualified QuickBooks expert, Jared, will help you navigate the process and migrate you to QuickBooks Online for free if you upgrade through us.

Get a spot on Jared’s calendar to see what upgrading can do for you (hint: it lets you leave the building earlier).

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Tag(s): Product Updates