The Newly Added Vendors and Newly Added Accounts reports surface every vendor and chart-of-accounts entry that was created in QuickBooks Online during the close period, so you can review them before signing off. Use Newly Added Vendors to catch missing W-9s and 1099 setup early. Use Newly Added Accounts to confirm new accounts are categorized correctly and ready to push back into QuickBooks Online.
Both reports are part of the Month End Close feature and require a Month End Close license. If you have not set up Month End Close for a client yet, start with the Month End Close Overview.
Access the Reports
Navigate to the client's profile.
Click the Month End Close tab.
Find the Vendor & Account Review Reports card on the dashboard.
Click either Newly Added Vendors or Newly Added Accounts to open the report in an aside panel.
Both reports load data directly from the client's connected QuickBooks Online file.
Newly Added Vendors
The Newly Added Vendors report lists every vendor created in QuickBooks Online inside a date range you choose. For each vendor you see contact details, total spend, W-9 status, and whether 1099 tracking is on, so you can chase missing information while the close is still in progress.
The report opens with three tabs:
In Progress - vendors you are still reviewing or chasing W-9s for
Approved - vendors you have signed off on
Excluded - vendors that do not need a 1099 this year
Each row shows the Vendor Name, Company Name, Date Added, Total Spend, Vendor Email, Vendor Address, Vendor Phone, Vendor EIN / Tax ID, W-9, Status, and 1099 Needed. Use the Date Range picker, Status filter, and Search by vendor name, email or last 4 of EIN/ID to narrow the list.
A typical workflow:
Set the Date Range to your close period.
Use the W-9 column button on each row to upload a W-9 you already have, or click the envelope icon to send the vendor a request directly from Financial Cents.
When a W-9 is on file and the vendor information is complete, click the row's checkmark to open the Review W-9 panel and click Approve to move the vendor to the Approved tab.
If a vendor does not need a 1099, toggle the 1099 Needed switch off and use the row's exclude action to move them to the Excluded tab.
💡Pro Tip! Click Filter Settings in the top-right of the report to tune what feeds into each vendor's Total Spend. The modal has 3 sections: Transaction Type List, Category List, and Credit Card Transactions (toggle to exclude credit card transactions from YTD spend). Set these so the dollar figure matches the way your firm scopes 1099-reportable spend.
ℹ️Heads up! Filter Settings and the Status filter are on the Newly Added Vendors report only. The Newly Added Accounts report has neither.
Newly Added Accounts
The Newly Added Accounts report lists every chart-of-accounts entry created in QuickBooks Online inside the date range you choose. New accounts often show up mid-month from imports, bank feeds, or client edits and they frequently need their Account Type or Detail Type corrected before you close. This report puts every new account in one place so you can fix categorization and approve them back into the books.
The report opens with three tabs:
In Progress - new accounts waiting for review
Approved - accounts you have signed off on and synced back to QuickBooks Online
Hidden - accounts you do not want to act on this period
Each row shows the Name, Date Added, Transaction Count, Parent Account, Account Type, and Detail Type. Account Type and Detail Type are inline-editable on the In Progress tab.
A typical workflow:
Set the Date Range to your close period.
Review each row and adjust the Account Type and Detail Type dropdowns as needed.
Click the checkmark in the row's action column to approve a single account. Approving pushes the type and detail type back to QuickBooks Online and moves the row to the Approved tab.
To process multiple accounts at once, check the rows you want to act on. The action bar reveals Bulk Hide, Bulk Update, and Bulk Approve buttons.
To undo an approval, switch to the Approved tab, select the row, and click Bulk Unapprove, or use the row's undo button.
ℹ️Heads up! A row can only be approved once it has both an Account Type and a Detail Type set. The Approve button stays disabled until both fields are filled in.
Add the Reports to a Project or Template
Both reports can be added to a Month End Close project or template so your team works through them as part of a recurring close checklist.
Open a project or project template.
Click + Team Tasks and choose Month End Close section.
In the Add Month End Close Sections window, expand the Vendor & Account Review Reports category.
Check Newly Added Vendors, Newly Added Accounts, or both.
Click Add MEC Reports to Project.
The selected reports appear as tasks in the project, and the Date Range on each report follows the project's accounting period.