Intuit Partners with Shopify to Automate Bookkeeping for Online Retailers

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QuickBooks Online Emerging as Global Platform of Choice for Small Business Management Solutions

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq:INTU) is delivering a seamless integration between QuickBooks Online and Shopify, a leading commerce platform that allows anyone to easily sell online, at their retail location and everywhere in between. The integration will allow Shopify merchants to automatically update and transfer accounting data, freeing time for business owners to focus on growing their business, not managing the technology behind it.

“Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “This is the latest example of how we’ve turned QuickBooks Online into the world’s leading small business cloud platform, delivering an ecosystem of integrated tools and services. We want to empower business owners to spend less time balancing the books and more time focused on what they love about running their business.”

Highlights of the integrations include:

  • Seamless Data Updates: Eliminates the need for manual reconciliation of sales deposits, bank fees and sales tax. All ecommerce transactions, including sales and refunds, flow into QuickBooks Online with no extra work required.
  • Improved Sales Transaction Accuracy: Automatically aggregates sales data into QuickBooks Online, giving business owners a more accurate picture of their finances and eliminating any data entry errors.
  • Better Business Performance Insights: Provides QuickBooks Online users with an up-to-date view of business performance; lets them generate key reports, such as profit and loss, cash flow and balance sheets at the click of a button.

Through the partnership Shopify has been selected as a preferred commerce provider for existing and new Intuit customers.

“We are excited to be partnering with QuickBooks to provide the tools and resources needed for small and medium-sized business to efficiently handle all of their accounting needs,” said Harley Finkelstein, chief platform officer at Shopify. “Many of our merchants are not necessarily experts in bookkeeping. That is why this integration is so important to the success of their businesses. It’s seamless, efficient and simple, allowing them to focus on their stores.”

Priority access to QuickBooks Online powered by Shopify will be available to the company’s 150,000-plus merchants, who sell online, in physical retail locations and on the go.

QuickBooks Payments is available now for new and existing Shopify merchants. The QuickBooks Online integration will be available within the coming months. For updates on the integrations and to register for early access, sign up at http://www.shopify.com/quickbooks.

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.

About Shopify

Shopify is a commerce platform that allows anyone to easily sell online, at their retail location, and everywhere in between. Shopify offers a professional online storefront, a payment solution to accept credit cards, a point of sale system to power retail sales and a card reader to process credit card transactions through a mobile phone. Shopify currently powers over 150,000 retailers in 150 different countries, including: Tesla Motors, Budweiser, Google, Wikipedia, LA Lakers, Sundance Film Festival and many more. http://www.shopify.com.

Intuit Inc.
Steve Sharpe, 650-224-2362
stephen_sharpe@intuit.com
or
Access Communications
Jen Garcia, 415-844-6244
jgarcia@accesspr.com

Source: Intuit Inc.

Released March 12, 2015