Earmark Team

Familiar Interface, Cloud Power: Meet the QuickBooks Online Desktop App

Earmark Team · July 29, 2024 ·

In a recent Unofficial QuickBooks Accountants podcast episode, accounting gurus Hector Garcia, CPA, and Alicia Katz Pollock, MAT, explored the new QuickBooks Online desktop app.

As the accounting profession continues its shift towards cloud-based solutions, the QuickBooks Online desktop app is proving to be a vital transitional tool. It provides accountants who are used to working in QuickBooks Desktop with a familiar interface while introducing the benefits of online platforms to streamline workflows and enhance client services.

But what exactly makes this app such a powerful ally for accountants navigating the choppy waters of technological change? How does it balance the comfort of traditional desktop software with the advantages of cloud-based systems? And most importantly, how can it help you serve your clients more effectively?

The Comfort of Familiarity: Navigating the New Interface

For many CPAs, transitioning to a new accounting system can be daunting. Will it be intuitive? How steep is the learning curve? The QuickBooks Online desktop app addresses these concerns head-on with its familiar interface and enhanced navigation features.

The core of this user-friendly approach is the Desktop View feature. When you open the QuickBooks Online Desktop app and log into a company file, it defaults to Desktop View, but you can toggle a checkbox at the top left side of the screen to turn it off, transforming the left navigation bar to mirror the QuickBooks Online interface. As Alicia Katz Pollock enthusiastically noted, “Turning on Desktop view made QBO look like traditional QuickBooks Desktop.”

A customizable shortcuts feature allows users to tailor their experience to their needs. As Hector explained, “You can pick and choose what shortcuts you want to put in there in order to quickly access things.” This flexibility means you can set up your digital workspace to match your unique workflow, boosting your efficiency and productivity.

The app also introduces a traditional menu structure and a new set of keyboard shortcuts. While there’s a learning curve involved, these features offer the potential for significant time savings once mastered.

These features collectively create an environment familiar to CPAs accustomed to desktop software while gradually introducing the benefits of online platforms.

Juggling Made Easy: Improved Multi-Client Management

Picture this: It’s tax season, and you’re juggling financial reports for a small business, tax returns for multiple individuals, and a quick consultation for a new client. In the past, this scenario involved logging in and out of different accounts or even switching between multiple applications. The QuickBooks Online desktop app aims to transform this hectic juggling act into a seamless, efficient workflow with improved multi-client management capabilities.

The app’s multi-instance, multi-company usage feature is at the heart of this improvement. Hector explained, “You can connect to multiple companies simultaneously without logging off.” This functionality allows you to switch between company files without logging out and back in. Imagine jumping from reviewing your small business client’s profit and loss statement to updating the books for your individual tax client with just a few clicks. This streamlined process can save precious minutes that add up to hours throughout a busy season.

The app further enhances this efficiency with enhanced tab and window management. You can open multiple tabs and windows, creating a command center for all your client work. Hector highlighted this feature, saying, “Essentially, all the windows you have open and all the tabs you have open, they’re listed in the top right. And if you hover over each of them, it gives you a little preview of the screen.” This means you can have a client’s tax return open in one tab, their financial statements in another, and perhaps a research window open in a third—all easily accessible and manageable.

For accountants, these features translate to significant productivity improvements. Seamlessly switching between clients and tasks can dramatically reduce the mental overhead of context switching. You’re no longer constrained by the limitations of traditional desktop software, where each client might require a separate login or company file. Instead, you have a unified workspace that adapts to your needs.

This improved multi-client management also opens up new possibilities for serving your clients. Do you need to quickly compare the financial performance of multiple clients in the same industry? Or perhaps you want to simultaneously apply a tax strategy you’ve just researched to several relevant clients? With the QuickBooks Online desktop app, these tasks become efficient and straightforward.

The Best of Both Worlds: Unique Bridging Features

The QuickBooks Online desktop app offers unique features that bridge the gap between traditional desktop applications and cloud-based solutions.

The crown jewel of these bridging features is the Split Screen function. As Hector enthusiastically demonstrated, “I want to see a profit and loss and a balance sheet next to each other. I don’t want to be moving too many things around. I can pull one report up on the left side and another report on the right side, collapse the shortcuts list, and close the open tabs window to make the most use out of the two screens.” This side-by-side analysis can significantly speed up your work and reduce the risk of errors when constantly switching between tabs or windows.

However, it’s essential to acknowledge that the QuickBooks Online desktop app, like any technological solution, has its own trade-offs. While it offers unique features like Split Screen, it lacks support for browser extensions that many CPAs have come to rely on in their daily work. And Hector pointed out that the app just feels slow. So, users will likely still need to have another browser open to use extensions like a password manager or Grammarly for proofreading.

“So now you’re going to put a double strain on your computer; you’re going to do all your email, banking, whatever on your browser. And then the QuickBooks app will only be QuickBooks,” Hector says.

Accountants should be aware of these potential limitations and consider their typical usage patterns and hardware capabilities when deciding whether to adopt the desktop app.

Despite these challenges, the QuickBooks Online desktop app represents a significant step forward in bridging the gap between traditional desktop accounting software and cloud-based solutions. It offers a unique hybrid experience that combines the best of both worlds: the familiar interface and robust features of desktop software, coupled with the accessibility and collaborative capabilities of cloud-based platforms.

Embracing the Future of Accounting Technology

The app’s familiar interface with enhanced navigation offers a comforting starting point for accountants and other QuickBooks users venturing into the cloud. Its improved multi-client management capabilities promise to streamline workflows and boost productivity. Its unique features, like the Split Screen function, exemplify the potential of hybrid accounting solutions.

For many accountants and business owners, this app could be the key to unlocking the benefits of cloud-based accounting while maintaining the workflows they’ve honed over years of practice. It’s not just a new tool – it’s a stepping stone to the profession’s future.

To truly grasp the potential impact of this app on your practice, we encourage you to listen to the full Unofficial QuickBooks Accountants Podcast episode. Hear directly from industry experts as they explore the nuances of this game-changing tool. You’ll gain invaluable insights into how the QuickBooks Online desktop app could revolutionize your workflow, enhance your client services, and position your practice at the forefront of accounting technology.

Alicia Katz Pollock’s Royalwise OWLS (On-Demand Web-based Learning Solutions) is the industry’s premier portal for top-notch QuickBooks Online training with CPE for accounting firms, bookkeepers, and small business owners. Visit Royalwise OWLS, where learning QBO is a HOOT!

Balancing Efficiency and Quality: How One CPA Firm Transformed Their Tax Season

Earmark Team · July 23, 2024 ·

For many CPA firms, tax season means long hours, stressed employees, and a frantic rush to meet deadlines. But Marcus and Rachel Dillon, owners of a family-run CPA firm and hosts of the Who’s Really the BOSS? podcast, have found a way to break that cycle.

In 2024, the Dillons filed 165 tax returns before April 15th while maintaining a strict no-overtime policy and growing their recurring revenue by 10%. How did they do it? By leveraging innovative tools, adapting their team structure, and fostering a culture of continuous improvement.

The Dillons’ journey wasn’t without challenges. Heading into the 2024 tax season, they faced significant changes:

• Their full-time tax director had left to start his own firm

• They had downsized by three full-time employees

• They had exited about 35 family-client relationships

To address these challenges, the Dillons made several strategic moves:

1. Implementing Innovative Tools

The firm rolled out Canopy software, replacing its existing practice management system. This improved internal project tracking and time management. More importantly, it enhanced client communication through automated tax status updates.

“What we did build out and tested during tax season was tax status updates being sent to the clients through Canopy,” Marcus explained. “It’s essentially the Domino’s Pizza tracker.” This system provided clients real-time updates about their tax returns without requiring additional staff time—a perfect example of technology improving efficiency and quality.

2. Adapting Team Structure

Rather than hiring a new full-time tax director, the Dillons hired a “tax director of counsel” on a flexible, as-needed basis. This arrangement allowed the firm to maintain high-quality tax services without the overhead of a full-time position.

They also hired a Director of Operations, Amy, who took on many administrative tasks previously handled by the tax director. This freed up other team members to focus on client work.

3. Fostering Continuous Improvement

When the Dillons identified knowledge gaps in their team, particularly for those without strong tax backgrounds, they implemented weekly training sessions. Marcus personally reviewed tax returns with team members, using actual client work as teaching material. This hands-on approach allowed team members to learn in real-time and improve their skills.

The Results

The Dillons’ strategic changes paid off. Here are some key metrics from their 2024 tax season:

• 165 tax returns filed before April 15th (down from 224 in 2023, but with fewer staff)

• No overtime or weekend work required

• Maintained half-day Fridays throughout tax season

• 10% increase in recurring Client Accounting Services (CAS) revenue

• Overall revenue on track to reach $3 million for the year

Perhaps most impressively, they achieved these results while maintaining a 36-hour work week for most employees. This focus on work-life balance starkly contrasts the grueling schedules often associated with tax season.

Lessons Learned

The Dillons’ experience offers valuable insights for other CPA firms:

Embrace technology: The right tools can dramatically improve both internal efficiency and client communication.
Be flexible with staffing: Consider alternative arrangements like fractional or on-call experts to fill skill gaps.
Invest in continuous learning: Regular training sessions can quickly address knowledge gaps and improve team capabilities.
Prioritize work-life balance: It’s possible to maintain high standards without sacrificing employee wellbeing.

As the accounting industry evolves, firms that can balance efficiency and quality will have a significant competitive advantage. The Dillons’ story shows that with the right strategies, it’s possible to thrive during tax season while still maintaining a healthy work environment. For more tips and tricks, listen to the full episode of Who’s Really the BOSS?

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, DBA | FIRM, supports and guides accounting firm owners and leaders with free resources, education, and operational strategy.

Frustrated with QuickBooks? Here’s How to Make Your Voice Heard and Drive Real Change

Earmark Team · July 18, 2024 ·

Have you ever been frustrated by a clunky QuickBooks feature or wished for a simpler workflow? You’re not alone, and the good news is that Intuit is listening.

In a recent episode of the Unofficial QuickBooks Podcast, hosts Hector Garcia and Alicia Katz Pollock explain the crucial role feedback from accounting professionals plays in shaping QuickBooks’ development.

How Does User Feedback Drive QuickBooks Improvements?

Though it might not feel like it at times, Intuit is listening to user feedback and actively using it to guide improvements to the platform. As highlighted in the podcast, many of the most impactful recent updates to QuickBooks Online were direct responses to user requests and reports.

Take, for example, the new ability to filter reports by inactive accounts and custom fields. This powerful feature allows you to easily track down transactions that used now-defunct entities or slice your data by custom parameters, and it was a top ask from accounting professionals.

“Getting custom field data to flow through to reports properly is crucial for reporting accuracy,” Hector emphasizes. “Now you can filter by those custom fields. So, say you want to run a detailed report of sales by rep. If you have a rep in a custom field or sales by a particular regional location that you were tracking in custom fields instead of by class or location, you can now pull that up in reports.”

But it’s not just shiny new features that user feedback helps bring to life — it’s also the less glamorous but equally important bug fixes. Hector shares a recent win: “Have you ever been in a P&L, clicked on a drill down for a particular account, and then gone back to the P&L and the P&L doesn’t show complete—it’s filtered by the account you just drilled down to? I’m happy and excited to announce that this particular bug has been squashed. Now, when you go from summary to detail and back, it should show the report correctly.”

From strategic additions to crucial fixes, user feedback guides QuickBooks’ evolution. Alicia notes that she and Garcia each run Facebook groups with over 10,000 members where QuickBooks issues are often raised. Pain points and wish lists shared in forums are actionable intelligence that Intuit’s team is eager to mine. But how can you ensure your input is as impactful as possible?

How to Provide Feedback That Gets Results

Now that we’ve established the power of user feedback, how can you ensure your input stands out and drives real change? As Hector and Alicia discuss, crafting effective feedback is equal parts art and science.

First and foremost, specificity is king. Provide as much detail as possible when reporting a bug or suggesting a feature. The more context you give, the quicker the QuickBooks team can pinpoint and tackle the issue.

But persuasive feedback goes beyond just technical details. To make a compelling case, highlight your suggestion’s business impact and benefits.

Hector shares a recent real-life example of “retainage” for the construction industry: “What’s interesting about retainage specifically is there are some contracts in which you’re allowed to hold back money from your supplier. People always get tripped up on accounting for those holdbacks because it’s not a natural transaction. You have to build workflows outside of QuickBooks reminding you to manage it.”

If QuickBooks could remind you that you have money in retainage sitting there for months, it would eliminate confusion and mistakes for contractors and other businesses that have these types of clauses in their contracts. You want to share that kind of detail to build a persuasive argument for prioritizing this improvement.

Finally, provide input early and often. Participate in beta programs and user research initiatives to give feedback early in the development cycle. The sooner you flag issues or suggest tweaks, the more likely QuickBooks is to address them. Supercharge your feedback’s impact by combining specificity, business context, and proactive input.

Building Bridges: Forging Relationships with Intuit’s Team

One more way to maximize your influence: cultivate direct relationships with Intuit’s team.

Industry events and conferences are golden opportunities to connect with Intuit’s developers and product managers. These face-to-face interactions allow you to put a human face to your feedback and forge personal connections that can pay long-term dividends.

But your relationship-building efforts don’t have to end when the conference does. Consider volunteering for customer advisory boards and user groups to establish an ongoing dialogue. These longer-term connections provide a platform to share your experiences and suggestions, learn from your peers, and gain insights into Intuit’s priorities and plans.

Bonus: Expert Tips & Resources

In addition to unpacking strategies for driving QuickBooks change, Hector and Alicia share some of their favorite recent bug fixes and resources:

Grouped reports. Previously, when you grouped reports in QBO, you couldn’t edit the group to change the schedule. That’s now fixed, so you can group multiple reports, like the P&L, balance sheet, cash flow statement, etc., and schedule them to be emailed monthly or weekly.

Price rules. Price rules allow you to increase or decrease prices in bulk. For example, you can assign different prices to retail and wholesale customers or put all your prices on sale for a week. While QuickBooks worked on making price rules available on new invoices, the feature was unavailable on classic invoices for about a week. “Price rules are up and running again in classic invoices, and QuickBooks is actively working on getting them up and running in the new invoices,” Alicia shares.

Keyboard shortcuts. Hector shares handy shortcuts built into RightTool for QuickBooks Online for quickly accessing audit log histories (Ctrl+Alt+H) and transaction journals (Ctrl+Alt+Y) from an invoice, check, bill, or purchase order.

Educational resources. Alicia highlights her recent “Tricky Situations” and “Next Level Accounting” classes that cover complex QuickBooks use cases and advanced bookkeeping techniques. Hector also has a series of videos on his YouTube channel focused on QuickBooks for construction and project-based firms.

Find links to those resources and listen to the full episode of The Unofficial QuickBooks Podcast.

And congratulations to Hector and Alicia for hitting 50,000 downloads!

The Horizon Scandal: How a Flawed IT System Shattered Lives and Eroded Public Trust

Earmark Team · July 14, 2024 ·

By: Greg Kyte, CPA

Picture this: You’re running a small post office in England, minding your own business, when suddenly you’re accused of stealing thousands of pounds. Your life savings? Gone. Your reputation? In shambles. Your freedom? Gone.

Now imagine this nightmare playing out for hundreds of innocent people over two decades, with a trusted national institution as the bad guy. Sounds like the plot of a dystopian novel, right? Nope. This is the very real, very messed up story of the Horizon IT scandal that rocked the UK Post Office and ruined countless lives.

On an episode of our podcast Oh My Fraud, my co-host Caleb Newquist and I dove headfirst into this shocking miscarriage of justice. A lot of people have said that the Horizon IT scandal is one of the worst miscarriages of justice in British history. And remember, the British did colonization, slavery, and the Crusades. That should give you an idea of just how bad this whole situation was.

The Birth of a Digital Disaster

Let’s rewind to 1999. The UK Post Office, in all its infinite wisdom, decided to roll out a new accounting and inventory system called “Horizon.” The idea was to drag their paper-based branch accounting into the digital age. Sounds great on paper (pun absolutely intended), right? Well, not so much.

As Caleb said in the episode, “Almost immediately, subpostmasters started complaining that the Horizon system was shit. Specifically, it was falsely reporting accounting shortfalls, sometimes to the tune of thousands of pounds.” But here’s where things get really messed up. When these subpostmasters raised concerns, the Post Office basically told them to shut up and pay up because the system couldn’t possibly be wrong.

Spoiler alert: It was very, very wrong.

The Contract from Hell

Now, you might be thinking, “Okay, Greg, so there was a glitchy system. What’s the big deal?” Well, let me introduce you to the contract between the Post Office and these subpostmasters. Caleb read out a particularly chilling part during our podcast: “The operator shall be fully liable for any loss of, or damage to any Post Office cash and stock… Any deficiencies in stocks of products, and/or any resulting shortfall in the money payable to the Post Office Limited must be made good by the operator without delay.”

In plain English? If the system says you’re short, you better cough up the cash, even if you know you didn’t take a penny. It’s like playing Monopoly with a computer that always accuses you of stealing from the bank, and then your real-life savings gets wiped out because of it.

Lives in Ruins

The numbers here are staggering. Of about 11,000 subpostmasters in the UK, around 3,500 were affected by Horizon’s “oopsies.” Even worse, 900 of them were criminally prosecuted for theft and fraud. We’re talking about people’s lives being shattered here.

Take Seema Misra’s story. She became a subpostmistress in 2005, and right from day one, she knew something was fishy with the accounting. Despite selling her jewelry to cover Horizon’s phantom shortfalls, she was accused of stealing £74,000. In 2010, while pregnant with her second child, she was sentenced to 15 months in jail. She fainted when the verdict was read out. Can you imagine?

She was imprisoned in the largest female prison in the UK. Actually, it’s the largest female prison in all of Europe, where she was convinced her life was in danger, as was the life of her unborn baby. She was at rock bottom and said that the only thing keeping her from suicide was the fact that she was pregnant with her second child.

But Seema’s story, as horrific as it is, isn’t unique. Martin and Gina Griffiths paid over £100,000 to the Post Office to balance their books, wiping out their life savings. The Post Office’s response? They revoked the Griffiths’ status as subpostmasters. Martin, unable to bear the injustice, took his own life at 58.

Then there’s Peter Huxham, who was convicted of stealing £16,000. He believed the system was right and accused his wife, Jackie, of theft, ending their 22-year marriage. Peter spiraled into alcoholism and isolation. His body wasn’t found until weeks after his death.

The Fight for Justice

These stories are just the tip of the iceberg. But amidst all this darkness, one guy refused to roll over: Alan Bates. When his contract was terminated in 2003 over a £1,000 shortfall, he didn’t just get mad; he got even. He created a website to find other screwed-over subpostmasters, which grew into the Justice for Subpostmasters Alliance.

Bates led a civil litigation against the Post Office, representing 555 subpostmasters. They won a £58 million settlement in 2019, but after legal fees, each person only got about £20,000. That’s peanuts compared to what they lost.

But here’s the awful part: By 2017, the Post Office knew that errors in the Horizon system or remote tampering could explain these losses. Yet they kept going after subpostmasters, insisting there was no explanation besides theft and fraud. That would mean that overnight, between 8% and 30% of all subpostmasters turned evil and started stealing money from the Post Office.

Those numbers don’t make sense.

The Aftermath and Lessons Learned

A public inquiry in 2021 has since shown that it was the Horizon system’s fault all along. But for many, justice has come too late. Over 60 affected subpostmasters have died waiting for justice, including four by suicide. The British government is now offering compensation, with some convicted subpostmasters potentially receiving up to £600,000. But as Caleb rightly noted, “No amount of money can truly compensate for the years of trauma, lost livelihoods, and shattered reputations.”

So, what can we learn from this colossal screw-up? First, blind faith in technology is dangerous, especially when it’s paired with an institution more interested in covering its ass than finding the truth. We need robust oversight, independent audits, and systems that listen when people say something’s wrong.

Secondly, never underestimate the power of people coming together to fight injustice. This whole mess might have stayed buried without Alan Bates and others like him.

Lastly, and this is something I can’t stress enough: We need to stay vigilant. How many other Horizon-like scandals might be happening right now, hidden from view? What can we do to prevent this kind of systemic failure in the future? And how do we ensure that when injustice happens, the victims’ voices are heard?

The Horizon IT scandal might have happened across the pond, but its lessons hit close to home. It’s a wake-up call for all of us to stay alert, demand accountability, and never be afraid to question authority – even when that authority is a trusted institution or a fancy computer system.

If you want to dive deeper into this wild story (and trust me, there’s a lot more to unpack), check out our full Oh My Fraud episode. Caleb and I break down all the nitty-gritty details, and I promise you’ll find yourself saying “Oh My Fraud!” more than once.

Remember, folks: Just because a computer says it’s right, doesn’t mean it is. Stay sharp, stay skeptical, and for goodness’ sake, if a system accuses you of stealing thousands of pounds, don’t just take its word for it. Learn from the Horizon scandal – sometimes, the real fraud is the system itself.

Can Intuit and Accountants Find Symbiosis in QuickBooks Live Expert Assisted?

Earmark Team · July 9, 2024 ·

In a recent episode of The Unofficial QuickBooks Accountants Podcast, hosts Hector Garcia and Alicia Katz Pollock delve into the implications of Intuit’s new $50/month QuickBooks Live Expert Assisted service. This move represents a significant shift in Intuit’s strategy, prioritizing direct revenue and control over its long-standing partnership with accounting professionals.

What is QuickBooks Live Expert Assisted?

QuickBooks Live Expert Assisted is an add-on service for QuickBooks Online users that provides on-demand support from QuickBooks-certified bookkeepers. For $50 per month, users can get assistance with how-to questions that require more bookkeeping expertise than standard phone support.

While QuickBooks Live virtual bookkeeping services has been around for a few years the new QuickBooks Live Expert Assisted marks a departure for Intuit in two key ways:

Aggressive marketing to all QuickBooks Online users, even those already working with an accountant.
Significantly lower pricing compared to typical bookkeeping rates.

The Shift in Intuit’s Strategy

This approach signals a clear change in Intuit’s strategy. Previously, the company had committed to not marketing QuickBooks Live Bookkeeping, a competing service, to accountants’ clients. By altering this promise and targeting QuickBooks Live Expert Assisted to all users, Intuit is demonstrating a new willingness to bypass accounting professionals and monetize QuickBooks users directly.

As Hector Garcia points out, “Intuit will market this to every single QuickBooks Online client, whether they have an accountant or not.” For many accountants, this feels like a betrayal, leading the accounting community to “make a much bigger deal and dissect and analyze” the implications and repercussions.

Impact on the ProAdvisor Community

QuickBooks Live Bookkeeping and Expert Assisted have both become a flashpoint in the broader debate about Intuit’s relationship with accountants and its long-term strategy. While Intuit frames it as a way to serve users better, some accountants see it as a direct threat to their livelihoods. The low $50/month pricing can potentially disrupt accountants’ business models and client relationships.

Hector speculates that Intuit may be taking a “gym membership” approach, hoping that many people will pay for the service but not fully utilize it. This could allow them to boost market share and gather valuable data even if QuickBooks Live Expert Assisted operates at a loss.

The Disruption of a Symbiotic Relationship

To understand why QuickBooks Live and Expert Assisted has sparked such intense controversy, it’s essential to understand the historical context of Intuit’s relationship with accountants:

The ProAdvisor Ecosystem: For decades, Intuit has nurtured a thriving ecosystem of accounting professionals (ProAdvisors) around its QuickBooks platform through training, certification, support, and community-building.
A Mutually Beneficial Partnership: This investment paid off as grateful ProAdvisors became QuickBooks’ most effective evangelists, recommending the platform to their clients and providing free support and training.
Cracks in the Foundation: Recent moves by Intuit, including QuickBooks Live, Expert Assisted, and the sunsetting of QuickBooks Desktop, have led many ProAdvisors to feel that their needs are being deprioritized in pursuit of short-term profits.

Collateral Damage: The QuickBooks Ecosystem at Risk

The fallout from Intuit’s strategic shift extends beyond its direct relationship with accountants. An entire ecosystem has emerged around QuickBooks, including app developers, trainers, and bookkeeping services. As Intuit pivots to direct monetization through offerings like QuickBooks Live, many in this ecosystem fear being caught in the crossfire.

Alicia uses the metaphor of a multi-legged stool to illustrate the risks. Just as a stool becomes unstable if you remove one of its legs, the QuickBooks ecosystem could falter if Intuit alienates the accountants, app developers, and other professionals integral to its success.

Seeking Symbiosis: Opportunities for Collaboration

Despite the tensions, Hector and Alicia see the potential for Intuit and accountants to find a mutually beneficial path forward with QuickBooks Live:

Include the ProAdvisor directory alongside the QuickBooks Live Expert Assisted sign-up, allowing users to find local accountants for more comprehensive services.
Provide referral credits to ProAdvisors who recommend QuickBooks Live Expert Assisted for basic support.
Leverage QuickBooks Live Expert Assisted as a resource for basic client questions, freeing accountants to focus on higher-value advisory services.

However, the success of this collaboration depends on Intuit delivering high-quality service with well-trained, knowledgeable support staff. If QuickBooks Live Expert Assisted consistently answers basic questions and provides reliable bookkeeping support, it could be a valuable tool for ProAdvisors to augment their services.

Navigating the New Landscape: Challenges and Opportunities

The introduction of QuickBooks Live Expert Assisted presents both challenges and opportunities for accounting professionals:

Addressing an Industry Pain Point: The accounting profession is facing a labor shortage. There are not enough bookkeepers and CPAs to serve the growing small business segment. This service provides a low-cost solution for micro-businesses and startups
Supervised real-world training: Fledgling and underutilized bookkeepers can gain hands-on training with professional oversight.
Differentiation: While QuickBooks Live Expert Assisted may provide instruction for basic tasks, it can’t replace the personalized, context-rich service that experienced accountants provide.
Upselling Opportunity: Accountants could incorporate QuickBooks Live Expert Assisted into their service offerings, potentially increasing their rates to cover the cost and using it as a first line of support.
Focus on High-Value Services: With basic Q&A support tasks potentially handled by QuickBooks Live, accountants can shift their focus to more complex advisory services that showcase their expertise.
Potential for Collaboration: If executed well, QuickBooks Live Expert Assisted could become a valuable tool in an accountant’s arsenal, allowing them to serve more clients efficiently.
Continuous Learning: The changing landscape underscores the importance of staying adaptable and continuously expanding one’s skill set to remain competitive.

As the accounting software ecosystem evolves, professionals who can navigate these changes and find innovative ways to add value will be best positioned to thrive. While QuickBooks Live Expert Assisted presents challenges, it also opens up new possibilities for those willing to adapt and leverage the service to their advantage.

To learn more, listen to the full episode of The Unofficial QuickBooks Podcast.