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In this video, the presenter shares their favorite feature in QuickBooks Online: building custom drop-down fields. They will also demonstrate how to use the new custom report builder to create reports utilizing these fields. It's important to note that these features are only available in the Advanced edition of QuickBooks Online. To check your version, click the gear menu, go to Account and Settings, then Billing and Subscription. If your plan shows "Simple Start," "Essentials," or "Plus," you won't have access to these features and will need to upgrade to QuickBooks Online Advanced to utilize them. To upgrade, simply click on "Upgrade your plan."