Finovate Alumni News

On Finovate.com

  • SuiteBox Wins Mobile Category of KPMG Fintech Innovation Challenge” (See SuiteBox at FinovateEurope 2016 in London next month.)

Around the web

  • Financial reporter profiles Big Data Scoring, founded in Scandanavia and headquartered in the United Kingdom.
  • Envestnet | Yodlee to bring account aggregation and PFM tools to Australian Superannuation Fund, QSuper.
  • Creative Boom lists Xero, FreeAgent, Expensify, QuickBooks, Mint, and Shoeboxed in its roundup of must-have apps for freelancers.
  • ACI Worldwide launches UP Retail Payments, combining technologies to produce an end-to-end enterprise payments solution.
  • Bank Innovation features Dave Foss, new CEO for Jack Henry & Associates.
  • CREALOGIX forges digital banking partnership with Hewlett Packard Enterprise (HPE). Join CREALOGIX in London for FinovateEurope next month.
  • PaymentEye interviews Arroweye Solutions CEO Render Dahiya on how EMV migration will impact issuers.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Intuit Offers Low-Cost Online Accounting via QuickBooks Free or Basic

imageI was poking around the various small business online accounting sites today researching our next Online Banking Report and thinking about which service would suit our business, given that Microsoft is pulling the plug on Money.

I was already familiar with Outright.com (a Finovate 2009 presenter; demo video coming soon), FreshBooks, and LessAccounting. But I was completely surprised by one contender in the free category: Intuit QuickBooks Online.

The software giant offers three flavors of online-only accounting (see screenshot below; full comparison here):

  • QuickBooks Online Free: Create and send invoices, print checks, track money flow for up to 20 customers and run basic reports; even includes email support
  • QuickBooks Online Basic: In addition to the above, for $9.95/mo, users can manage an unlimited number of customers, set permissions for others to access data, and choose from a library of 40 standard reports
  • QuickBooks Online Plus: Full-fledged QuickBooks for $34.95/mo, mimics most features of QuickBooks Pro (see comparison here)

Financial institution opportunities:
All four online accounting companies offer free versions and premium fee-based options (note 1). Consider linking to them from your small business resource center. For extra credit, develop a co-branded version you can offer your customers or negotiate discounts for the fee-based versions.

Intuit’s QuickBooks Online product line (14 Oct 2009)

image

Notes:
1. Outright.com is currently free for all users, but says it is working on value-added, fee-based options.
2. For more info on the small biz space, see our Online Banking Report: Small & Microbusiness Banking (June 2004). Note: Anyone who purchases the 2004 version now, will automatically receive the newer version when it’s published later this month.