Latest QuickBooks updates bring intelligent and automated accounting innovations to businesses and their accounting professionals
Intuit Inc. the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced today the launch of a series of new product innovations in QuickBooks, that deliver a more intelligent and automated accounting experience for businesses and their accountants across international markets.
These enhancements reflect Intuit’s commitment to continuous innovation—delivering both everyday efficiencies and breakthrough capabilities that redefine how accounting is done. They also mark the ongoing evolution of Intuit’s AI driven-expert platform as an all-in-one AI-powered financial platform to run a business on, preventing customers from having to move data across multiple disconnected tools.
The full suite of innovations can be explored in detail at Intuit’s new QuickBooks Launchpad; a central resource supporting users in staying up to date with what’s new and what’s next, in terms of product features and innovations.
- AI-Powered Bank Feed
Categorizing bank transactions is one of the most repetitive and error-prone tasks in accounting. Intuit’s new AI-powered bank feed in QuickBooks addresses this by learning from users’ previous actions and suggesting categories based on historical patterns. Each suggestion is accompanied by a clear explanation, allowing users to review, approve, or amend with confidence—streamlining workflows and improving accuracy.
This enhanced feed offers more accurate categorization suggestions, allows for inline editing of fields (like category, vendor, class, location, and product/service) , and provides payee suggestions with the ability to add new payees directly from the bank feed. This significantly boosts efficiency and provides full transparency on why each suggestion was made, allowing users to maintain control, whilst leveraging AI as much or as little as is needed.
- Out-of-the-box support for depreciation methods
Calculating depreciation on business assets can be complex, particularly for mid-sized businesses managing extensive or ageing asset portfolios. Intuit has streamlined and automated how its customers track the depreciation of fixed assets in QuickBooks Online Advanced, which now supports reducing balance depreciation, expanding its fixed asset capabilities to better meet the needs of finance teams. Previously limited to straight-line depreciation, users can now apply the reducing balance method by entering a rate, with QuickBooks automatically handling the calculations and updating reports.
This approach provides a more accurate reflection of asset value over time. By automating complex depreciation calculations and consolidating asset tracking, Intuit helps customers reduce manual errors, maintain compliance with accounting standards, and strengthen forecasting and audit readiness through real-time reporting.
- Agentic onboarding for switchers
Switching to new accounting software shouldn’t be a project, but is often time consuming and manually taxing. With our new AI-powered onboarding, it isn’t. Customers can now upload financial reports—like balance sheets or trial balances—and our platform will automatically map and migrate business data into QuickBooks. That includes a chart of accounts, ledgers, and journal entries. No third-party tools. No formatting headaches. Users will get a preview to check everything that looks right before finalising. It’s fast, simple, and built to take the pain out of switching.
Ciaran Quilty, Senior Vice President International at Intuit said: “As businesses grow in size and complexity, we know that they need a financial technology platform that provides deeper customization, enhanced automation and features to get critical jobs done. We’re committed to helping businesses and accounting professionals work smarter, not harder, whilst gaining the financial expertise and confidence they need to succeed. Driven by direct feedback from our customers, these latest innovations are powerful examples of how we’re using AI and automation to simplify financial workflows, improve accuracy, and give our customers more time to focus on what matters most. We’re re-imagining our entire connected business platform and I couldn’t be more excited about what’s coming.”
“These innovations are a testament to our unwavering commitment to empowering Canadian businesses and their accounting partners. We understand the unique needs of our market, and by continually enhancing our platform with features that simplify complex tasks and reduce errors, we're not just delivering efficiency – we're fostering growth and ensuring our users can focus on what matters most. This is just another step in our ongoing journey of innovation, dedicated to providing Canadian businesses with a connected end-to-end business platform that sets them up for success,” said Puja Subrun, Vice President, Intuit QuickBooks, Canada/LATAM.
Disclaimer:
*This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, and functionality are subject to change without notice.
