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In this video, the presenter highlights their favorite feature in QuickBooks Online: custom drop-down fields. They will also demonstrate how to use the new custom report builder to create reports utilizing these fields. This functionality is only available in the Advanced edition of QuickBooks Online. To check your version, access the gear menu, navigate to Account and Settings, and then Billing and Subscription. If your version shows Simple Start, Essentials, or Plus, these features will not be accessible, and an upgrade to QuickBooks Online Advanced is required to use them. Instructions for upgrading are provided.