The market has been abuzz regarding a slew of recent changes from Intuit’s QuickBooks. Disruption is never comfortable, but these changes have accounting professionals and small business owners alike concerned about their future with the company. Here’s what we know:

Quickbooks price increased.

Effective now, Intuit is tweaking the terms of its online subscription plans and imposing new usage limits on its existing tiered plans. For SMBs every dollar matters, so these pricing changes are being considered significant and even “abusive.” Additionally, according to some small business owners, prices have been increasing steadily since 2016 but with no improvement in functionality.

QuickBooks is (likely) offering bookkeeping services.

A few weeks prior to the pricing announcement, many in the industry noticed language on QuickBooks’ website that hinted that the company may be offering its own bookkeeping services. This would mean that the thousands of bookkeepers who currently use the platform would have to compete with the QuickBooks technology. Understandably, people are feeling uneasy.

The CEO of Xero, QuickBooks’ direct competitor, released this statement regarding the changes:

“At Xero, we are proud to deliver some of the most innovative technology that the bookkeeping industry has ever seen. But we are also determined to forge a future where the distinctly human contributions of bookkeepers continue to shine through. We want to use technology not to replace the work of bookkeepers, but to enhance the positive impact bookkeepers have always delivered…Since Xero’s beginnings, we’ve partnered deeply with bookkeepers because small business success is fundamentally about people. We remain committed to partner with bookkeepers, to find new ways to help them thrive, and to build a stronger future together.”

So what should SMBs do now?

There’s never been a better time to consider Acuity’s services.

This news has a lot of small business owners feeling cautious and confused. But you’re not alone, and the truth is that Acuity may be a good option for you at this stage. Here’s why:

• Our bookkeeping services are affordable and come with a free Xero or QuickBooks license.
• We are the most certified cloud accounting firm in the nation with 100+ certifications, and we work with numerous partners in this space. This means that our clients get access to top technology, expert-level services, and, most importantly, they have options.

If you have questions about how these changes could affect your business or what the options are moving forward, we are happy to chat. Contact us today for a free consultation.