Intuit QuickBooks Announces Major Product Updates at its London Get Connected Event for Accountant and Bookkeeping Partners

London, UK - 5 March 2025

Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced today a series of product updates designed for accounting professionals to help them manage and grow their practices. These include advancements in QuickBooks Online, spotlighting readiness for Making Tax Digital (MTD)1 for Income Tax to help customers stay ahead of compliance, new innovations in QuickBooks Online Advanced specifically designed to support growing small and mid-market businesses, and the latest updates on Intuit Assist to bring more of the power of Intuit's AI platform to UK customers.

The new product and service offerings were shared with more than 400 members of Intuit’s accountant and bookkeeper community at the company's annual London Get Connected event. At the show, Intuit also demonstrated how the company is harnessing the power of AI to build new platform capabilities to further serve the evolving financial needs of millions of accounting professionals and their clients, all of whom are Intuit customers.

Staying Ahead of Compliance - MTD for Income Tax readiness in QuickBooks Online:

As the company prepares its accountant and bookkeeper ecosystem for the introduction of Making Tax Digital for Income Tax, Intuit provided details of key product deliverables to support readiness on its business platform and help businesses run and grow. 

• QuickBooks Ledger - a cost-effective plan for the basic needs of clients, looking to prepare and submit MTD for Income Tax and get estimates, via their accountant or bookkeeper. It features automated bank feeds, bank reconciliation, financial statements and the ability for accountants to push data into QuickBooks Workpapers and tax preparation tools. This plan has now been enabled for the MTD for Income Tax testing phase.

• QuickBooks Practice Manager - with the introduction of MTD for Income Tax, practice management software takes out the strain, helping accountants communicate with clients, and colleagues, to complete jobs to be done; streamlining recurring tasks, onboarding, storing client records, tracking communications and collecting signatures. QuickBooks Practice Manager is now free as part of QuickBooks Online Accountant for partners with five or more QuickBooks Online licenses.* 

• QuickBooks Sole Trader onboarding support - with a double-entry bookkeeping back end, QuickBooks SoleTrader is designed for the 3.1 million sole traders, single property landlords, and subcontractors who need to record Construction Industry Scheme deductions, to manage receipts, mileage, expenses, bank transactions and invoices in one place. Intuit is exploring set up options to help accountants onboard clients onto QuickBooks Sole Trader ready for the MTD for Income Tax mandate.

• Introducing FRS102a - with its credentials in tax and accounts production, Intuit will bring Beta availability of FRS201a functionality to QuickBooks Online Accountant users*. Given new legislation to increase the monetary size thresholds of limited companies by around 50%, this new feature will enable QuickBooks Online and its accountant and bookkeeper community, to support a growing cohort of customers with their Companies House disclosure requirements, whilst containing all their transaction data on Intuit’s business platform.

Innovations in QuickBooks Online Advanced to support growing small and mid-market businesses:

With a strategic focus on supporting the evolving accounting needs of growing small to mid- market businesses, with up to 25 users, QuickBooks Advanced provides the financial tools these businesses require to manage increasing complexity, and scale to unlock a new level of performance. 

Enhanced QuickBooks Advanced features include: 

• QuickBooks Online Advanced already provides role-based access controls, which are critical as businesses grow in size and have multiple employees accessing the software. This system is being expanded further with the ability to assign more specific roles and permissions based on what a team member needs to perform their job. Limiting access to sensitive information provides more effective segregation of duties and tasks, while maintaining safeguards of financial and payroll data.

• Approval workflows are also being enhanced with the ability to set more granular conditions and multiple approvers, to further streamline processes. This will save time for businesses that are growing in size and typically have more steps (and more employees and roles) involved in approval processes.

• QuickBooks Online Advanced provides a number of financial planning tools. These have been built out further to include the ability to create and customise P&L forecasts that can then be easily amended and converted into budgets. This supports the financial planning needs of businesses as they grow.

Bringing more of the power of Intuit’s AI platform to UK customers

Through Intuit’s AI-driven expert platform strategy, the company is delivering ‘done-for-you’ experiences for businesses and partners around the world - bringing to life its vision to grow the revenue and profitability of its customers. Part of this includes continued focus on bringing Intuit Assist to the UK.

• Late last year, Intuit invited QuickBooks Online UK customers to sign up for the Intuit Assist Beta, which will be available in the coming months*. Generally available to US customers since November 2024, Intuit Assist is delivering connected 'done-for-you' experiences, enabled by AI with access to AI-powered human experts. It allows customers to delegate daily administrative tasks like creating invoices and estimates, categorising transactions, and auto-matching expenses. From the QuickBooks home page, users access a new Business Feed offering a dynamic view of their business, highlighting the work that Intuit Assist has done for them to review. Intuit Assist is not just automating tasks, it is augmenting accountant and bookkeeper expertise with AI driven insights.

• Intuit Assist also helps accomplish one of the most important goals for growing businesses — getting paid faster — with AI-generated invoice reminders for overdue invoices helping businesses get paid 45% faster, an average of five days sooner**. It also provides personalised recommendations, surfacing cash flow insights and other tailored guidance directly in customers' Business Feed - a central hub that delivers key business insights and actionable tips. With Intuit Assist, QuickBooks customers gain a smart, efficient financial management assistant that speeds up payments, streamlines transaction processing, and delivers quick, customised tips to help their business grow. 

Nick Williams, Product Director at Intuit QuickBooks says: “Growing businesses often tell us they struggle with juggling multiple disconnected software tools. This can lead to reduced productivity, a lack of clear insights, and make it incredibly hard to scale their operations. For many sole traders, currently unaware of the benefits to be had, Making Tax Digital will feel like a journey into the unknown when it comes to using digital tools. We are fixing both these problems by providing a business platform that delivers end-to-end financial management and marketing automation, capable of growing alongside the customer. It caters for side hustlers right through to expanding mid-market firms, and turns a decade of AI innovation and data capabilities into a true asset for accountants and their clients.”

Sources

1  Making Tax Digital (MTD) is a UK government initiative intended to simplify the way businesses record and report their income, expenditures and taxes with a key component being a digital tax filing requirement.

*Pricing for Practice Manager may change in the future, Intuit will communicate any changes to customers via email ahead of time.

** Based on U.S. Intuit Assist Beta customers using outstanding invoice notifications and AI-drafted invoice reminder features, compared to customers sending standard invoice reminders to the same customers, from January 2024 to August 2024. Not available in QuickBooks Online Advanced.

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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.

About Intuit

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