[October 22, 2014]

Intuit Makes Accounting Seem Invisible for Small Businesses with New QuickBooks Online

Intuit Inc. (Nasdaq: INTU) is delivering on the promise of the cloud with QuickBooks Online, an ecosystem of products and services that makes it easy for small businesses to tackle complex business management tasks so they can focus on their customers and what they love about their business.

"Our mission is to make accounting seem invisible for small businesses by leveraging the power of the cloud so that the time-intensive work of keeping the books organized happens automatically every time an invoice is sent, a customer makes a payment, or an employee gets paid," said Dan Wernikoff, senior vice president and general manager of Intuit's (News - Alert) Small Business Group. "QuickBooks Online provides a simple, integrated view of how money flows in and out of a business. Instead of spending time trying to reconcile old bills, small business owners can focus on the things that made them passionate about being their own boss in the first place."

Intuit unveiled a hundred new product enhancements at QuickBooks Connect, a first-of-its-kind conference that brought together small business, entrepreneurs, accountants and developers. Key enhancements for small businesses include:

A New Mobile Experience

The new QuickBooks Online mobile experience makes it possible to run a business from the palm of your hand. Significant enhancements include:

• Bank and credit card transactions are automatically synced with the app, allowing small businesses to stay productive on the go because they always have access to a full picture of their finances (currently iOS only).
• Key reports - such as P&L and Balance Sheet - can be easily generated, giving small businesses real-time visibility into the health and performance of their business.
• Getting paid faster - small businesses can enable the payments feature from within the mobile app, and start accepting credit cards - either swipe or key entered - in less than a minute.

Mobile apps are included free with a QuickBooks Online subscription so that small businesses can access their data from a tablet or smartphone. The new experience builds on existing capabilities, such as viewing and editing customer information, and creating and sending invoices.

A New Apps.com Store

The new QuickBooks Online apps store delivers the world's best selection of small business apps, making it easy for small business to find apps specifically designed for their type of business. These apps work seamlessly with QuickBooks Online through deep data integrations that provide small businesses with a unified view of their finances. To date, 400+ apps have been integrated on the QuickBooks Online platform, including a new integration with PayPal (News - Alert) and other leading small business solutions, such as Square and Method:CRM.

A New Full-service Payroll Solution

A new full-service payroll solution eliminates the complexities of payroll taxes right inside QuickBooks Online - no more file import or double entry. Small business oners simply enter employee work hours and then choose the option to print checks or use free direct deposit - Federal, state, local tax forms and payments filings are taken care of by Intuit's payroll experts, with 100% accuracy guarantee.

This advanced functionality, which will be available within QuickBooks Online in December, includes:

• Payroll setup and tax filings handled by Intuit
• Guaranteed accurate paychecks & payroll taxes
• Free live US-based support from payroll experts
• Free direct deposit & year-end W-2s

A New Simplified Payments Offering

A new simplified payments offering means small businesses can get paid faster. With a single account, small businesses can accept mobile payments, credit cards and ACH bank transfers, and take advantage of built-in eInvoicing.

This comprehensive payment solution includes:

• Invoicing: small businesses can email invoices right from QuickBooks Online with a Pay Now link, letting customers pay instantly online or from their mobile device.
• Accepting payments: small businesses can accept ACH bank transfers and all major credit cards including Visa, MasterCard, Discover and American Express (News - Alert).
• Automatically updated books: QuickBooks Online updates your books automatically as soon as your invoice is paid. We auto-deposit, too.

A New QuickBooks Self-Employed Product

A brand new product built from the ground up, QuickBooks Self-Employed makes it easy for freelancers, contractors, and home-based businesses to organize their personal and business finances so that it is easy to claim expenses and comply with tax requirements. The new product helps entrepreneurs stay on top of their finances by:

• Connecting accounts: an entrepreneur imports bank and credit card transactions to easily track income and expenses. There's no data entry.
• Clicking to categorize: with the click of a button, or a swipe on mobile app, an entrepreneur can mark a transaction as Business, so that it's instantly categorized as an IRS Schedule C deduction.
• Stacking up savings: the product works to help save entrepreneurs time and money by helping them track deductions with confidence all year round.
• Simplifying taxes: QuickBooks Self-Employed calculates estimated quarterly and year-end taxes so there are no surprises in April.

QuickBooks Self-Employed is available at: selfemployed.intuit.com.

New QuickBooks Offerings for Accountants and Developers

The new QuickBooks enhancements help make the busy work of accounting seem invisible to small businesses. Intuit is also dramatically improving the way accountants work with their small business clients, making accountants more visible and important than ever in helping their clients succeed. To complement the new small business products and services, Intuit is:

• Revolutionizing the way accounting professionals work with their small business clients so that the books are always up-to-date and the accountant-small business relationship can focus on offering business advice and insights. Click here for more details about the new QuickBooks Online Accountant product.
• Launching a new developer experience and app store so developers can create next generation business management solutions with best-in-class developer tools and access a global market of cloud-based small businesses. Click here for more details about the new developer experience.

About Intuit Inc.

Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals.

Its flagship products and services include QuickBooks®, Quicken® and TurboTax®, which make it easier to manage small businesses and payroll processing, personal finance, and tax preparation and filing. Mint.com provides a fresh, easy and intelligent way for people to manage their money, while Demandforce® offers marketing and communication tools for small businesses. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants.

Founded in 1983, Intuit had revenue of $4.5 billion in its fiscal year 2014. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

The above information is intended to outline our general product direction, but represents no obligation and should not be relied upon in making a purchase decision.

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