Small Businesses Get Paid Faster With QuickBooks Payments

New Online Features Speed Up Invoicing and Payments

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) is helping small businesses get paid faster with the reimagined QuickBooks Payments. Available today, the new optional features offer a simplified, paperless way to get paid.

Designed to expedite the entire payment process, the QuickBooks Payments application reduces the time between sending invoices and putting money in the bank. As part of the expanding QuickBooks ecosystem of online products and services, QuickBooks Online users who also use QuickBooks Payments get their invoices paid on average two times faster than those who don’t. When these small businesses email their invoices and allow their customers to pay online, they significantly reduce the time it takes to receive payment.

“We use QuickBooks along with Payroll and Payments and that full integration has made a huge difference to our business,” said Daniel Skehan, account director, Personify. “Everything matches up with no problems. When a payment comes in, it goes to checking and QuickBooks recognizes the transaction and the rest is history. I want to focus more on growing the company and it makes a difference when you can focus on that and instead of allocating the time to run finances.”

Show Me the Money

As a leader in small business payments for more than a decade, Intuit knows that for small businesses getting paid is more than just cashing a check; it’s a matter of business success or failure. In Bank of America’s “Small Business Owner’s Report,” 45 percent of those surveyed said not getting paid on time was their biggest cash flow challenge.

The process for collecting payments from customers can be complicated. The multi-step process can be cumbersome, from sending invoices to receiving payments and updating accounting. With its new and improved payment features, QuickBooks Online streamlines and accelerates the entire process, enabling small business owners to instantaneously email invoices, get paid online and accept a credit card while outside the office.

Three Easy Steps to Get Paid Faster

QuickBooks Payments reduces the payments process to three simple steps. It speeds the payment process by allowing small businesses to:

Send electronic invoices: Email invoices from QuickBooks Online and allow customers to make online credit card and bank payments instantly.
Receive payments: Accept both bank payments and all major credit cards, including Visa, MasterCard, Discover and American Express.
Auto-update books: Update invoices and books automatically when the invoice is paid; reduces mistakes, work and worry for the business.

“Getting paid quickly is the bottom line for small businesses. A week or two can make a difference in making payroll or purchasing supplies,” said David Kirven, vice president of marketing for Intuit Payments, Small Business Financial Solutions. “QuickBooks Payments builds on the QuickBooks ecosystem to give users a powerful, business management solution that grows with small businesses and works anytime, anywhere.”

Pricing and Availability

The QuickBooks Payments is part of the new QuickBooks Online application. Business owners can choose to simply turn on the feature and, in most cases, start accepting payments the same day through online and mobile apps.

QuickBooks Payments offers two, straightforward pricing plans. Small businesses choose pay-as-you-go plan, paying only per transaction, or they can select a monthly plan with lower transaction rates for $19.95 a month. More information is available at http://quickbooks.intuit.com/payments.

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 $4.2 billion in its fiscal year 2013. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Intuit Inc.
Michael Porcaro, 415-652-8326
Michael_Porcaro@intuit.com
or
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Katie Zeiser, 415-844-6219
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Source: Intuit Inc.

Released March 19, 2014