In the News - July 1, 2022

Have you caught any accounting news over the past few days? Here are some updates from companies that offer accounting solutions and services, including information notice that Intuit is shutting down QuickBooks in India.

Bookkeep is the leading provider of summarized financial automation and deposit reconciliation for omni-channel ecommerce, restaurant, and retail businesses. Bookkeep is listed now on the Amazon Seller Marketplace as a Software & Service Partner on Amazon Seller Central. You can access Bookkeep on Amazon's seller marketplace or, the next time you are in the Seller Marketplace, just search for Bookkeep, and their Daily Sales Summary comes up as the first option.

If you are confused or overwhelmed by all of the ecommerce apps, Bookkeep's accounting automation platform can do the work for you. A recent survey showed that an individual team member managing ecommerce clients spends an average of 38 hours each month on manual ecommerce tasks. 

Intuit has announced that QuickBooks products and services will no longer be available in India beginning January 31 next year. According to an Intuit spokesperson, no new QuickBooks product signups will be accepted in India. Existing customers have been switched to a free subscription allowing them to continue using QuickBooks until January 31, 2023, with no charges applied." 

According to the same spokesperson, "The decision to retire QuickBooks products in India does not impact Intuit’s ongoing presence and commitment to investing in top tech talent in the country. The 1,300+ strong team in India continues to deliver bold innovation that impacts more than 100 million Intuit customers around the world.”

Other accounting solution providers are stepping up to offer solutions to businesses in India, such as Zoho Books. According to Prashant Ganti, Head of Products – Tax, Accounting & Payroll, Zoho, “The continuation of financial systems for any business is essential for its growth and sustainability. At Zoho, we understand how challenging it can be for businesses to find a replacement for their existing financial system. Zoho Books will be glad to serve the needs of those businesses looking for an alternative solution, and help them transition smoothly.”

Patriot, a leading accounting software and payroll provider, has announced an exclusive partnership with Vestwell to offer 401(k) plans with seamless payroll integration. All Patriot payroll customers will have access to 401(k) plans powered by Vestwell, offering them access to a fully integrated, contemporary, and personalized workplace retirement plan. The partnership offers special pricing benefits. Learn more about the partnership here.