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.
In this episode: David shares his experience at the AICPA Annual Executive Roundtable for software vendors, Super Bowl LII will feature an ad about expense reports, tax season could get really ugly as only 57% of IRS workers return (unpaid), (another) new $99 tax service for the masses, ScaleFactor raises $30 million from Bessemer, BeachFleischman teams up with a small firm to create a new virtual firm called MOD Ventures, nurses take the top spot for most trustworthy professions (but accountants aren’t far behind), Google raises prices for G Suite, Will Farnell announces a 6-hour workday for his firm, Bank of America’s Zelle P2P payments service takes off, and efforts to evolve the CPA license to match evolving technology
Blake and David dig into the lack of growth in accounting salaries despite the tight job market, KPMG’s representative contestant on this season of “The Bachelor,” Plaid’s acquisition of Quovo, TaxJar’s $60 million round of fundraising, Craig Smalley’s argument against virtual offices for accountants, where Americans moved in 2018, how the California Board of Accountancy just started (finally) accepting credit cards, and how some small businesses are no longer accepting cash.