In the News - September 30, 2021

Read about not one, but two recent Intuit announcements, an integration to ensure compliance in direct-to-consumer alcohol shipping, a dollar store that has decided to sell items for more than a dollar, and changes to first-class mail that may affect some of your clients.

First, Intuit has acquired DataDear, an Excel add-in that has been available for QBO through the QuickBooks App store. In early 2022, QuickBooks Online Advanced will offer a two-way sync with Excel made possible through this acquisition. DataDear's founders announced the acquisition on their blog, saying "Through Intuit’s QuickBooks platform, expertise and resources, DataDear will expand its core mission of empowering finance teams and professionals to work smarter and build better solutions."

In addition, Intuit has launched a new division - Intuit Ventures. The focus of the new division is to invest in "early-to-mid stage startups focused on solving problems for consumers and small businesses in the fintech, virtual expertise, consumer finance, omni-channel commerce, AI-enabled services and crypto/DeFi verticals." Investments will be focused primarily on B- and C-stage companies.

A company that you may best know for their sales and use tax solution, Sovos, has a new integration for their shipping and distribution compliance solution. Sovos is now integrated with Spirits360, an e-commerce platform for distilleries, breweries and wineries. Sovos offers four solutions in all - value added tax, sales and use tax, shipping and distribution compliance, and tax and regulatory compliance. 

Dollar Tree, the company that has always sold everything in their store for just a dollar, won't be any longer. The company has already begun testing higher prices in some of its stores in an area called "Dollar Tree Plus" where items ranging in price up to $5 can be found. 

You may have already heard about the new postal service standards that are starting on October 1st. But have you thought about how this may affect your clients who rely on receiving payments, documents or goods in the mail or who mail out payments, documents or goods? According to a USPS spokesperson, nearly 40% of first-class mail may face delays in delivery.