Intuit QuickBooks, a subsidiary of global financial platform company Intuit Inc., has rolled out QuickBooks Online Accountant, an online practice management solution designed for chartered accountants (CAs).
The platform helps businesses manage sales, expenses and keep track of their daily transactions.
The online account platform follows the launch of QuickBooks Online in 2012, which is an online financial management solution for small businesses, the Mountain View, California-based company said in a statement.
Intuit’s two flagship products, QuickBooks Online and QuickBooks Online Accountant allow CAs and their clients (small businesses) to work together in real-time and share information securely.
“The platform eliminates the dependency on multiple solutions for CAs. Now they can use a single software to manage all their clients’ accounting, file goods and services tax (GST) returns and manage their practice. QuickBooks Online Accountant will ease their daily tasks and give them the extra time they need in a day,” said Aditi Puri Batra, country manager, Intuit QuickBooks India.
Intuit claims it the platform addresses key pain points in chartered accounting— time-consuming manual entry of data, chasing clients for information, multiple steps and tools required for GST filing and complex process involved in input tax credit reconciliation.
“Well-equipped accountants are an increasingly invaluable resource in India where the number of small businesses is growing rapidly. Accounting professionals play an important role in fuelling small business success," Batra added.
Intuit QuickBooks also said that the Indian small business base is expected to increase from 75 million in 2019 to 105 million by 2024. It claims that currently, over 70 % of small businesses in India are digitally enabled.
Founded in 2005, Intuit Inc. is a global financial platform company with products including TurboTax, QuickBooks, Mint and Turbo. It claims its financial management solutions serve about 50 million customers worldwide.
In related news, Intuit recently said it is using artificial intelligence solutions to help small businesses better manage their books.