In a world first, the launch of the cloud-based financial management software is free to accounting professionals around the globe
HANOI, Vietnam--(BUSINESS WIRE)--Intuit QuickBooks today announces global free access to QuickBooks Online Accountant (QBOA), enabling accounting professionals in 170 countries to move to the cloud faster, scale their practices and bring more value to their clients and the wider economy.
Accounting professionals make a huge contribution to the economy at a local, regional and global level, working as trusted business partners to the SMB community, which represents 90% of businesses and accounts for 70% of employment globally1.
But their impact could be even bigger, as QuickBooks research suggests accountants are now busier than ever. Four out of 10 (43%) report they have more than 40 clients – and 86% are looking to technology to help them be more efficient and better meet client needs.
QBOA addresses this by enabling accountants to manage their practice workflow, client interactions and billing all in one place. Developed with a select group of accountants globally over the past 12 months, QBOA is a refined suite of benefits to help professional accountants move to the cloud faster and drive greater efficiency and scalability of their firms.
Access to real time insights from anywhere in the world puts professional accountants at the heart of driving informed business decisions that could positively increase small business survival rates – currently, only 51.6% of U.S. small businesses survive beyond the first five years2.
Intuit serves more than 100 million customers worldwide and is one of the biggest software companies in the world, with Intuit QuickBooks now the first provider in the market to deliver at this scale for the accounting profession.
Lars Leber, Vice President of Intuit QuickBooks Australia, said: “Vietnam’s economy has rapidly ascended from one of the poorest countries in the world to a lower middle-income economy. While many other emerging markets struggle to develop a clear tax system, Vietnam’s is well structured and well positioned for dynamic business opportunities. As nine out of 10 small businesses in Vietnam expect the local economy to grow in 2023,3 accountants will play a key role in helping SMB owners maximize these opportunities and grow their business. The rollout of QBOA will arm accountants in the region with richer insights and an efficient way of managing their clients’ finances from one platform – boosting success of small businesses not just in Vietnam, but across the world.”
Global trends and technological advancements are transforming the world of work and reshaping the future of the accountancy profession, increasingly shifting demand towards more strategic and analytical roles.4 Vietnam's economic growth is expected to rebound to 6.5% in 2024 as domestic inflation could subside from 2024 onward. This will be further supported by the accelerating recovery of its main export markets (U.S., Eurozone, and China).5 Vietnam also topped the list for small businesses growth in 2022 (78%)6. Tax incentives tend to be one of the most important among investment incentives to foreign investors and is one of the most attractive features of the Vietnamese business landscape7. Accountants will be key to helping fuel local business and economic prosperity.
QuickBooks Online Accountant benefits professional accountants anywhere in the world – through the following set of features:
- Singular login and dashboard view of real-time and historic client data, current projects and deadlines;
- Automated transactions and specific rules classifying data, minimizing manual data entries and reducing risk of errors;
- Options to use workflows to send reminders to the right people at the right time and automate common tasks –invaluable for bookkeepers in busiest periods of the year;
- Integrated apps providing functionality that spans reporting, inventory management, expense management, payroll, eCommerce;
- Predictive AI-based ability to estimate income tax/VAT contributions, support self-assessment filings with automated breakdown of earnings and tax-deductible expense.
Assisted QuickBooks Online Accountant onboarding for accountant professionals and bookkeepers is free, via a Zoom session, and is focused on new clients who are new to QuickBooks, as well as any existing clients that aren’t actively using QuickBooks. It’s a hands-on, “Do-It-With-Me” session.
To celebrate the launch of the QBOA global edition, limited time only pricing bundles have also been announced. To help accountants get their small business clients started on QuickBooks online, for just the next three months, the one-dollar subscription deal will be active. One dollar (or country currency equivalent), per month, per file. The deal is available in all countries, to further support digital expansion for all accountants.
Local developers can now publish apps as part of the QuickBooks Global App Store – to include payroll, payments, inventory and purpose-built applications for specific regions – to integrate with QuickBooks. For more information and information on how to access the free QuickBooks Online Accountant platform please visit here.
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1 World Economic Forum White Paper “Future Readiness of SMEs: Mobilizing the SME Sector to Drive Widespread Sustainability and Prosperity”, November 2021
2 The US Bureau of Labor Statistics, 1994-2022
3 Digitalisation, innovation spur Vietnamese small businesses on expansion’ https://link.gov.vn/Ufr0O6KS , with the original data from the CPA Australia Asia-Pacific Small Business Survey conducted in November-December 2022.
4 ACCA (the Association of Chartered Certified Accountants) “Future ready: accountancy careers in the 2020s” report.
5 The World Bank, Vietnam country profile.
6 Vietnam Briefing, Doing Business in Vietnam
7 Vietnam Briefing, Doing Business in Vietnam