In this week’s accounting news roundup: how tax season could be extended by 5 weeks, the latest QuickBooks updates and problems with new usage limits, Louisiana gave out $26 million in extra tax refunds by accident, why you need to be concerned about tech companies offshoring your client data, Canopy laid off 40% of its workforce, and more
Shoutouts to some of our favorite people on the new Top 50 Women in Accounting list by Practice Ignition, details on “Intuit Expert Connections,” another test that Intuit is running to gauge interest in a marketplace to connect tax pros and tax firms, a report suggesting that Congress should extend tax season, metrics on the typical number of accounts in a Chart of Accounts, the latest M&A activity in the cloud accounting ecosystem, a survey about remote work, and more
Can you believe it? A question about QuickBooks Live made it into the latest Intuit earnings call! In other Intuit news, the company recently caught and stopped a hack. Find out how you can protect yourself from similar attacks. Also, we take a look at ProAdvisor feedback from the Joe Woodard online town halls. In non-Intuit news, Jamie Dimon is jealous of Square’s innovations, Abacus adds travel booking to its expense management app, and a new study suggests switching jobs is the easiest way to make more money.
This bonus episode of the Cloud Accounting Podcast features an extended interview with Enrico Palmerino, CEO of Botkeeper, and his technical director Justin DoBosh. The interview was recorded via Facebook Live on Friday, March 1. It was organized by Cloud Accounting Podcast co-host David Leary to address outstanding questions from our previous coverage of Botkeeper on this podcast as well as an article Blake Oliver published entitled “It’s not a bot — the truth about Botkeeper, the Google-funded, AI-powered “bookkeeper replacement.”
We dig into the Botkeeper website, press coverage about the firm, the CEO’s public statements, and review sites to try and figure out what exactly Botkeeper claims to be, and how significantly that differs from the reality, which includes a team of offshore accountants in the Philippines doing much of the work. Also, a discussion of Intuit’s earnings, Avalara’s latest AI acquisition, new limits in QuickBooks Online, and more cloud accounting news.
Blake and David review what we know so far about QuickBooks Live, Intuit’s “assisted bookkeeping” service that the company was seemingly attempting to launch under the radar. A competing “Software Plus a Service”, inDinero, did not try to hide its acquisition of Indianapolis-based accounting firm mAccounting. Meanwhile, FreshBooks has released a new double entry accounting feature, and KPMG decided to give up on SMB accounting in the UK after trying for five years to make it work. Finally, Bill.com announced a partnership with American Express. All this on the latest episode of the Cloud Accounting Podcast.
A bunch of app news, including Xero’s “improved” bank feeds sign up process, Dropbox acquiring HelloSign, a pet services app merger, and Stripe raising more money. Former SBA head Karen Mills’ thinks that small business banking is going to get a lot better (but it might not be the traditional banks that make that happen). Humans triumph over robots at the “world’s first robot hotel.” Why tomorrow's best paying and most secure jobs will require “hybrid” skills that use both the left and right brain. Finally, why leaders shouldn’t worry about absenteeism because it costs a lot more than “presenteeism."
According to a new pricing page on the QuickBooks website, Intuit is now offering QuickBooks software plus access to “real bookkeepers to help you manage your business” for between $210 and $350 per month. Now QuickBooks customers can “Get valuable insights from unlimited one-on-one conversations with an experienced bookkeeper that knows your business.” How does it work? According to the new pricing page, "A QuickBooks Bookkeeper sets up your books via live video chat and is available for you all year long.” Blake and David discuss this breaking news and the implications for accountants, bookkeepers, and QuickBooks ProAdvisors.