February 5, 2025 • 65 mins
Matthew Fulton and Dan DeLong will be discussing some Intuit program updates as well as a discussion about Intuit's direction and how the accounting community will play a role in the direction they are heading. We will also be discussing some recent questions added in the the QB Power User Facebook Group
QB Power Hour is a free, biweekly webinar series for accountants, ProAdvisors, CPAs, bookkeepers and QuickBooks consultants presented by Michelle Long, CPA and Dan DeLong who are very passionate about the industry, QuickBooks and apps that integrate with QuickBooks.
Earn CPE through Earmark: https://bit.ly/QBPHCPE
Watch or listen to all of the QB Power Hours at https://www.qbpowerhour.com/blog
Register for upcoming webinars at https://www.qbpowerhour.com/
00:00 Introduction to Earmark App
01:04 Welcome to QB Power Hour
01:50 Super Bowl Excitement
03:29 Today's Agenda and Hosts
07:38 Intuit and QuickBooks News
11:08 AI and Development at Intuit
12:48 QuickBooks Live and TurboTax Live
14:35 Intuit's Ecosystem and Financials
24:09 Combined User Interface Announcement
31:20 QuickBooks Enterprise Pricing Updates
33:56 Terms and Conditions Update
34:44 Enterprise Gold and Platinum Payroll
35:50 Grandfather License for Accountants
37:44 QuickBooks Enterprise vs. Intuit Enterprise Suite
39:27 ProAdvisor Lifetime Discount Changes
40:25 Intuit Enterprise Suite Features
41:43 Challenges with Cloud Access
46:11 Facebook Group for QB Power Users
01:00:39 Modern Reports Feedback
01:04:00 Closing Thoughts and Next Session Preview
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Dan DeLong (00:30):
I just realized I need to update that intro
because unfortunately we don'thave Michelle and Dan, we have
spot and Dan.
Matthew Fulton (00:41):
I can be Michelle.
I'm okay with that.
Dan DeLong (00:42):
Okay.
But I, will actually be seeingMichelle.
She got selected.
I don't know if you've beenseeing that she got selected for
the lottery of, she, she isgoing to the super bowl.
She got selected to actually.
Because as season ticket holdersyou get magically drawn.
(01:06):
She never got drawn to buySuperbowl tickets.
She got selected this, year.
But she needed three ticketsinstead of two.
She found.
Another pair and offered thesecond one to me.
So I'm actually going to seeMichelle at the Superbowl
because as we're driving acrosscountry we would actually be by
(01:29):
New Orleans during this weekend.
Hold on.
So
Matthew Fulton (01:32):
you just totally buried the lead there.
Dan's going to the Superbowl,everybody, is what that actually
is.
That was, nice way to stick thatin.
That is amazing.
Congratulations.
Dan DeLong (01:41):
Yeah.
It's, face value, but it's avery big face.
For these tickets.
And we were, seriously debatingif we could, if we actually
wanted to do that.
I'm from the Philadelphia areaand we do Kansas City to my
son's chagrin so this is the,Super Bowl that we should be
(02:06):
seeing, simply because we, likeboth teams and we're happy
either way who wins, but heartswith the, hearts with our home
team, so I'll be wearing myEagle stuff and sitting next to
Michelle, which will be reallycool to to see her, at the,
Super Bowl.
So today we're going to betalking about some Intuit news
(02:33):
and and our Facebook group Q andA.
So Pleased to have you joiningus here today on the QB Power
Hour.
My name is Dan DeLong, owner atDanwith and School of
Bookkeeping, worked at Intuitfor nearly 18 years, co hosting
today, also the workshopWednesday that we do over at the
School of Bookkeeping as well.
And, now also I'll leave I don'twant to take spots under, but
(02:59):
we're, doing a Deep Dive guesthost with the unofficial
QuickBooks Accountant Podcastwith Alicia Katz Pollack as
well.
New new project there for, me.
Matthew Fulton (03:11):
Matthew?
And I am Matthew Fulton.
I am the founder of ParkwayBusiness Solutions.
The one of the creators of QBCommunity Live Facebook group.
Been doing a, whole series with.
Fordley called blueprints forbusiness.
And truly my biggest thing isI'm a workflow nerd.
I like working with appcompanies and helping them
better understand how to use theAPI and helping other
(03:33):
accountants figure out the bestway to connect the dots.
So it's a, it's an honor to behere as well.
And I'm going to say, goPhiladelphia.
Dan DeLong (03:42):
Yay.
I see people Putting in thechat, go chiefs, boo.
Either way, history is going tobe me.
So a little bit about the QBpower hour.
It's every other Tuesday at nooneastern.
I have no idea what time it is,where I'm at, because I'm
driving cross country at thesame time as we're trying to do
(04:04):
the the power hour.
But it's noon eastern.
Are the Power Hour is noweligible for CPE credit.
If you didn't catch Blake Olivertalking about that we have a
channel for the QB Power Hour onEarmark.
So you can always click thatlink in the slides and, be able
(04:25):
to access the, prior ones thatare eligible for, CPE.
This one is not eligible forlive CPE because of the way
they, work that out typicallyabout five days after.
The live webinar they'll postthe the quiz and then you can
take the quiz for the CPE creditbut if you just bookmark the
(04:49):
channel you can always just goand See when those new ones are
posted and and get your CPEcredit
Matthew Fulton (04:58):
I'd love to ask everybody if you are collecting
CPEs Do me a favor in the chatput a one if you're not put a
two, please I'd love to seewho's utilizing the CPEs
Awesome.
Dan DeLong (05:10):
And yeah these, are the two, prior sessions that are
already up there, the 1099problems that we did with Nancy
as well as the sales taxlimitations that we did with
with Avalara.
So you can always check thoseout.
A little bit of housekeeping.
If you do have specificquestions about what we're
(05:31):
chatting about here today,please put them in the Q& A so
that way we can see them and wedon't lose them as all the ones
and twos are flying by in the inthe chat.
The chat is great for justgeneral comments like go Chiefs
or go Eagles or whatever, youhappen to be wanting to say in
the chat.
(05:52):
That's great there too.
And then we also have thewebinar archive.
Links there as well as thehandouts which should be posted.
Whether you're watching
Matthew Fulton (06:03):
earlier We can post it again here shortly
Dan DeLong (06:05):
I have I still have four monitors.
So I don't know where those areliving but they're out there and
we have if you're watching us onthe In the, Facebook group as
we're simulcasting on YouTubeand all that stuff there's a QR
code for the handouts there aswell.
(06:27):
And then we also have the, QBPower Hour stores, if you want
to check out the, QB Power Hourswag.
So what's what's on the agendatoday?
So we're going to be Breakingthis into two major sections, we
have Intuit slash QuickBooksNews, Spot attended the
shareholder meeting that wasjust recently and so we'll be
(06:49):
unpacking some of the thingsthat they talked about and
speculating what that means forthe accounting community.
I do want to, set that, stagethere.
This is No insider informationor anything like that.
This is all publicly in publicinformation, and we're just
gonna be pontificating as towhat the meaning of all of that
(07:12):
is.
And then some of the, inQuickBooks or Intuit news or
topics of there was a combinedUI email confusion that we want
to talk about.
And, There's always thisdiscussion about pricing
increases that we want to talkabout, which might go, might
(07:33):
dovetail into that shareholdermeeting.
And then we have a Facebookgroup where the, for the QB
power hour that we.
There's some common questions orsome posts there that we want to
unpack there as well.
So first polling question whatversion of QuickBooks do you
(07:54):
support with your clients?
And let me go ahead and launchthat.
And while you're answering thatlet's go ahead and dive right
into the shareholder recap.
Matthew, just let me know whenyou need me to.
Matthew Fulton (08:10):
First off, I wanted to clarify one part of
this.
They, every time they do one oftheir quarterly reports or their
annual meeting, these things aremade available through their
website to where you can go backabout a week later and listen to
the webcast, and you can evenlook at their different
presentation.
With that all the images thatyou're seeing, That you'll be
(08:32):
seeing here came straight fromthe presentation.
So it's their information,publicly available information
that we just felt it'd beappropriate to share.
So the links that you're seeingthere, we'll take you to that.
So if you want to go forward onehere, Dan.
So the first thing I we're goingto do some commentary a little
bit afterwards.
So I'll go through some of theinformation that I saw and I
(08:54):
tried to highlight the thingsthat.
We're most important to me onthese slides when you look at
this strategy that intuit talksabout I couldn't help but notice
that this year the accountantswas a smaller section down below
So the consumer small businessbid market that's their main
focus And we're going to talkabout that as we go to the next
slide of how where the money'sgoing Coming from on everything
(09:16):
also Interesting facts though,there are 87 million consumers
on the Intuit platform.
There's 10 million small andmedium sized businesses using
it.
And then 18 million U.
S.
workers that are paid annuallythrough QuickBooks payroll.
And if if you download theslides, you'll see there's other
(09:39):
details on that.
But those are the three that Ifound the most interesting, of
course.
Dan DeLong (09:44):
I remember them saying that like one out of
every six.
Employees or some staggeringnumber is actually paid through
quickbooks payroll, which isPretty great.
I think yeah
Matthew Fulton (09:59):
So that means if you have six employers only one
of them okay, We can go to thenext one here.
And so a big one of the bigparts of the entire conversation
Had to do with They're focusedin artificial intelligence and
using AI.
What I mean by that is Sasanactually mentioned that back in
(10:20):
2018, Intuit took the focusthey, decided to invest heavily
into it and start to use it ineverything they're doing.
They're now seeing that they areinternally using AI to help
their own and develop, their owndevelopment.
So they're saying that theirdevelopment velocity, in other
words, the speed they can getstuff out has increased eight
times.
(10:41):
And through that, It's createdan 11 per their AI improvements
is also improved 11 percentreduction in contact rates.
So what I guess I'm trying tosay there is theoretically
through their AI driven contentanswers everything else.
They've reduced the number ofcalls and touch human touch
(11:02):
points they have to do by 11%.
I found that to be prettyinteresting, of course.
Dan DeLong (11:07):
Yeah, I remember, I don't know what the Intuit
values actually are now, butwhen I was there, one of their
10 values was originally thinkfast, move fast.
And they ended up changing thatto think smart, move fast.
Cause you could do dumb thingsfast.
(11:29):
So, they did change that tothink smart, move fast.
And, Sathan is, was very big on.
Rapid iteration of things.
So he's definitely a fast guy
Matthew Fulton (11:44):
Yes, for sure.
We can skip to the next one nowhere and so through here
obviously being into tax seasonthe TurboTax live and QuickBooks
live was a Decent portion oftheir conversation and the
things I took away ofimportance.
There is the QuickBooks liveThey've seen a 3x increase in
the number of customers usingQuickBooks Live and a 4x
(12:09):
increase in the annual revenueper customer versus the rest of
the QuickBooks Online base.
So in other words, people areusing QuickBooks Live, it's
actually generating a betterannual revenue per customer ARPC
than just somebody whosubscribed to QBO on its own.
TurboTax Live has seen an 11percent increase in customers
(12:30):
and a 5x increase in revenue.
Now, keep in mind, these arestill somewhat newer.
So having that multiplier that'sa little bit easier.
100 to 300 may be a multiple,but it's a lot harder to get
that when you're at 3 millionand then exiting it more and
more
Dan DeLong (12:48):
Yeah they don't, they, I don't know if they
mentioned that, but are theyactually profitable in these
things?
Yeah.
Matthew Fulton (12:55):
They don't talk about that.
Which
Dan DeLong (12:56):
Whether or not they were they, show a profit.
Yeah great, for them to increasethe revenue.
But if, that's actually a costcenter for them as opposed to a.
Matthew Fulton (13:09):
It's a good point because, so I started
listening to these back whenSasson first came into office
and even back then they used tobreak out the different types of
subscriptions.
You could see what was QBOversus desktop enterprise and
where the money was coming in.
They don't do any of thatbreakout anymore.
You can't see that stuff aseasily at all.
So we can move ahead to the nextone as well.
Dan DeLong (13:31):
That's into a confidential.
Matthew Fulton (13:32):
Yeah, another large portion of this and this
is we're going to dovetailpretty soon into the combined ui
It's the interconnectivity oftheir ecosystem.
This is the big vision the biggoal.
So their acquisition of creditkarma bringing people in There
was one question one of thepeople on the call asked was are
(13:55):
they ever going to make areplacement for mint and the
answer was a whole bunch ofwords salad to basically come
back and say no we're not it'sgoing to be credit karma is the
piece we're trying to serve thisbut what they found is the
number of people that are usingcredit karma who Actually having
TurboTax now do their taxes aswell has significantly
increased.
So these are the plays they'remaking trying to give you the
(14:18):
one stop shop to do everythingto get that AP annual ARPC.
We can go to the next one hereand then, so these are the other
interesting ones, QuickBooksOnline, the has gone up by 11
percent in the total customers,their annual revenue per
(14:40):
customer also was 11%, workforcesolutions, basically their
payroll stuff, 23 percentincrease, money portfolio, so
this is their payments,processing, everything else, 20
percent increase And a totalpayment volume of 124 billion.
That I found very interesting.
So that's the money that'sflowing through in the do all
(15:02):
this stuff which is prettypowerful.
And then MailChimp also had an11 percent increase in revenue.
And we can go to the next onehere.
QuickBooks Online Advanced.
28 percent increase insubscriptions.
36 percent increase in theecosystem revenue.
(15:23):
Now, so that's that annualrevenue per customer.
36 compares to 11%.
With the QBO customers.
So you're seeing more money,obviously it's more expensive,
but they're making more moneyoff advanced that way.
And the retention actually wentup 2 percent to 84 percent with
the people using advanced.
So people that get into it aresticking with it and actually.
(15:44):
Liking it seems like
Dan DeLong (15:47):
they're not just getting it for the initial
discount They're actually usingthe features
Matthew Fulton (15:52):
exactly Into it.
So the enterprise suite they sayestimated right because it's
just brand new.
It's just coming out They'reestimated.
They estimate it's gonna be 20kannual revenue, which is about
1600 per month per customer Ifound that to be interesting as
well because yeah, that's thefirst time
Dan DeLong (16:12):
i've actually seen that number Published.
I knew there were some other,other things that I had seen
where I had heard that numberbefore, but this is the first
time I've actually seen thisnumber published.
For all the people likewondering how much does Intuit
Enterprise Suite cost?
(16:33):
That's their estimation, right?
So there's going to be more orless.
And we'll talk a little bitabout the difference between
QuickBooks Enterprise and IntuitEnterprise a little later.
But yeah.
For those that are alwayswanting to know what's this
going to cost me, that's, whatthey're estimating.
Before you just go blindly senda lead to the Intuit Enterprise
(16:58):
fleet folks, just get give that,estimation, food for thought.
Matthew Fulton (17:05):
And the question becomes, what is, what all does
that include?
The those are the key numbersthat I, really found from the
information through thepresentation and listening to
them.
But Dan and I, you, we weretalking earlier.
Our own thoughts about themeeting and listening to it as
we talked about before They'vebeen very open about the fact
(17:26):
they're going very AI centricThey're trying to make this
platform where things are gonnaconnect together Because they
envision the ability in thefuture that for a small business
earner.
It's getting started withMailChimp with QuickBooks online
everything else That AI will beable to do more and more stuff
for them, such as creating amarketing campaign for them,
send out the email to try tochurn up more business.
(17:49):
He did give an example, which Ifound funny was he said, we even
have the power to, you can takea handwritten note, turn that
into an estimate automatically,have it turn into progress
invoices, collect the money andeverything all for you
automatic.
I'm like, you better you musthave a better version than we
have at this moment, but so Idon't know I don't know.
(18:11):
What are your thoughts on thisinformation dan?
Dan DeLong (18:13):
This is this is really really great stuff as far
as like things that you know, itgrowth is always good, right?
So that's The stability I thinkand I think we're gonna you know
talk about some of these themesas to where did the, where does
the accounting community fitinto all of that?
(18:37):
You, noticed or you, pointed outthe piece of the pie is a little
bit less than than, what we'veseen.
And we talked about this alittle earlier, whereas it seems
like the accounting community ismore of a consumer as opposed
to, a partner now.
(18:58):
That may not be their intentionbut that certainly is, something
that is, I think, being felt bythe, accounting community and at
large, and, I, tend to take aguard, a cautious approach when
it comes to the, actions that,that Intuit is taking, they're
(19:21):
going to do what they're goingto do, and, as we talk about the
Facebook group, what willFacebook and Meta is going to do
the things that they're going todo, right?
And sometimes we're just alongfor the ride when it, comes to
that and, it's whether or not itis a, what's a, what's the
(19:45):
polite way to say, I don't knowwhether or not it's, it fits,
right?
It's whereas in the past, from asales and marketing perspective,
accountants and the, pro advisorcommunity was a sell through.
Type of type of thing where makethe make those, people happy and
(20:08):
they will be promoters andwhereas now it seems like the
accounting community is, a sellto here's the products that,
that we're making available.
If, you want to participate withthat, we'd love to have you
(20:28):
Especially with all of the otherthings that they've been
introducing that potentially,step on a toe or two
Matthew Fulton (20:36):
It's well said.
Peter just answer your question,which he was asking Do we know
what the annual revenue was forqbo advanced?
They didn't talk about that, butthey did say that it increased
36 Percent which doesn't tell usa whole bunch.
We knew that there's an increasein the number of subscriptions
and that it's now generatingmore revenue for them.
(20:59):
And it is higher, of course,than QBO traditionally, but we
don't know what the actualamount per year is that they're,
capturing at this time.
Dan DeLong (21:06):
And considering a year over year, they've had a,
what 17 and a half percentincrease in the cost.
Of course they're going to havesome interest some increase
that's just the the subscriptioncost, whether or not they lose.
It's a
Matthew Fulton (21:24):
great
Dan DeLong (21:24):
blue subscribers or not.
Matthew Fulton (21:26):
One other thing they mentioned was in the
meeting you can go ahead andmove on to the next part though,
is Sasan brought up made acomment about how the ecosystem
the small business owners, youjump in and you've got all these
different apps that they'reconnecting and he, said, they
envisioned having a way to beable to do all that for them.
(21:47):
I really question how that'sgoing to work well having AI be
able to be those connectionpoints because there's so many
variations and not to mentionyou have, to deal with Intuit
changing things all the time.
So tags going away because tagsare going away.
They're adding a custom field toall the different versions is
(22:07):
their solution for one of them,even from the lowest one up and
higher ones where you alreadyhave three, you'll now have
four, except for advanced,you'll stay at the 12.
API is still only going to giveyou access to three.
There's still variations therethat's interesting.
And then for the IntuitEnterprise Suite, this is our
nuanced news things that I know,they will be creating additional
(22:30):
functionality for IntuitEnterprise Suite, API wise, that
won't be available to otherthings in the future.
That'll be interesting to see.
Dan DeLong (22:39):
All right.
I appreciate you, participatingin that, call and sharing that
with with our community.
It's really, these, this is likethe goalposts that they're
setting up or the, what we,here's what we did here.
Here's what we want to do.
And then we can.
(22:59):
Again, like speculate as towhere that where everyone fits
there.
Moving on to this topic of thecombined UI, they did announce
this at the QuickBooks, I'msorry, Intuit Connect, last,
October, right?
Again, I don't know what day itis, that this, coming, this
(23:24):
combined ui which isessentially, whoops, going the
wrong way.
We have a screenshot here fromthe firm of the future article.
Also I, put a blog on the blogarticle on the school
bookkeeping site.
But, with, regards to QuickBooksOnline and MailChimp this is.
Finally where after the the,acquisition of, MailChimp, this
(23:51):
is, where things getassimilated.
And this is one of them whereyou'll have this combined user
interface with a MailChimp andQuickBooks Online, which as, you
were talking Matt, about this isgoing to, this is where, this is
(24:11):
where Intuit is going to.
Make a lot of strides with that,integration between a business.
Running their business andgetting new business, is, going
to, is when this actuallybecomes a thing, which I don't
(24:33):
know that it's there just yet,but being able to track your own
customers, and create a.
An outreach to continue that andnurture that customer
relationship that you have withyour customers.
(24:54):
MailChimp is going to be a greatpart of that because they have
their, suite of services.
I've used it, but I haven'tgotten like into the, weeds.
Are you a, power?
Would you say you're a powerMailChimp user or is it more of.
Matthew Fulton (25:13):
I, so I've done a lot with MailChimp
independently, but I haven'tused it much within the
connectivity view withQuickBooks online.
That was one of theirstatistics.
They mentioned is they've seen a22 percent increase in the
number of people that are using.
MailChimp and QuickBooks Onlinetogether.
So people are starting to useit.
(25:36):
But I haven't tried theinterconnectivity piece of it
the same way.
Might worry about this and Iwant to ask this to everybody in
the chat, cause I think weshould start a poll right now.
How long until we get a revertback to the basic look?
Because my biggest concern rightnow is where's my sidebar?
How do I get to the stuff forthat immediately?
(26:00):
I'm having nightmares of thebusiness view versus account
view right now.
Dan DeLong (26:05):
Yeah, someone didn't wasn't, participating in that
that beta test.
But as far as what has happenedor what happened and the
confusion that arrived, becausenothing says, Alert your
accountant in January about abrand new user interface, right?
(26:26):
So there was this email thatwent out about an upcoming test
of this combined user interface.
And, that sent a lot of,accountants into a tizzy because
while they're trying to do theirpayroll forms and all the, busy
things that, come at your end,let's just go ahead and change
(26:50):
the way everything looks inQuik, right?
It wasn't as bad as, it, seemed,but it was certainly something
that caused, triggered a lot ofpeople to to panic a little bit
because the last thing you wantto do when you're trying to do
(27:12):
all these busy year end thingswith If you rely on that
sidebar, where, the sidebar goin your, navigation of inside a
quick, not all is lost, right?
Before you go any
Matthew Fulton (27:32):
further real quick, because we have a lot of
people that are mentioning, andI agree, RightTool, everybody's
use RightTool, for this.
I trust into Mark and Hectorthat they're already thinking
about this.
Some of the things we don't knowyet, Is it going to be that all
the URLs for the other aspectsof like your journal entries,
your bank feeds, if all of thatstuff is still the same, and if
(27:52):
all of those pages remainlooking the same, right tool
will have no challenge.
But if it's a situation, they'removing where buttons are, now
you're going to actually,they're going to have to recode
things to be able to find theright places to make certain
features and functions work.
I trust the team will do it, butthey may have some extra work in
front of them.
Dan DeLong (28:13):
Hopefully they don't go all in and change put in, put
things in a subdomain, Yeah, gbomp intuit com or something like
that, will break all of theirall the hard work that they did.
But as as Kim s directly stated,and in the firm of the future
(28:39):
article.
This will only affect new users.
So your existing clients shouldnot be offered this combined UI.
And we, and we've heard thisbefore, it should not affect, it
should not affect anyone who'sconnected to an account past
(29:00):
doesn't necessarily dictate thefuture.
They can certainly that is theirgoal.
Of course, mistakes happen.
If you're connected to anaccountant you should not be
offered this combined UI becausethat would cause angst and in
the event that you do get aclient that Did opt into this
(29:24):
you can opt out.
For of the test by going to thegear and then there should be a
little a button there in thelower right to leave the early
access program while Accountantsand bookkeepers are trying to do
10 99s and process your payrollforms with a brand new user
(29:44):
interface on top of all So acouple links in there
Matthew Fulton (29:47):
Yeah, what's going to happen though, if you
get it, the brand new companygoes, gets QuickBooks online,
has this new look, and then theycome to you, oops, there we go,
and they come to you and add youon as an accountant, what
happens then, is going to be thequestion, because the importance
of that question is that's goingto tell you a lot about what
they're doing, UI or not, on howto connect these pieces I'm
(30:10):
wondering what that's going tolook like.
Dan DeLong (30:12):
Yeah, that, remains to be seen.
All right, so let's talk alittle bit about the QuickBooks
Enterprise pricing updates as ofFebruary 1st, which was three
days ago, They are going toincrease the price of, this is
(30:33):
QuickBooks Desktop Enterprise,has nothing to do with Intuit
Enterprise Suite because, wedon't know what the price of
Intuit Enterprise Suite is, sohow would we know it's going to
increase?
But Into it or I'm sorryenterprise silver, gold, and
platinum is for precious metalsin a, jewel three precious
(30:54):
metals in a jewel.
So silver, gold, and platinumthey get a 15% bump, which is a
significant price increase forseats one through five and
that's total, right?
So if they have a total seatMulti user access single or
(31:15):
multi up to five, it would be a15 percent increase.
If they are six and above andit's not split out, right?
So it's, if they have a six userlicense, it's a 20 percent
increase.
For, all seats.
So it's not just for not tiersis what you're saying.
Yeah, exactly.
And then so 20% increase forsilver, gold and platinum
(31:38):
diamond and white gold.
Hey, we've got another We've gotanother one in there.
It's the flat 15 percentincrease and then legacy hosting
meaning that if you had theright right works cloud access
there will be a 15 percent risefor all plans whether they're
(31:59):
out of cart or bundled and it'simportant to note that's
effective on the annual renewal.
So even if you're.
paying monthly that increasewon't go into place until your
anniversary of the annualsubscription.
You're not paying, you're payingmonthly, but you're it's an
(32:20):
annual subscription.
So whenever you activated yourenterprise license that dictates
the birthday or the anniversaryof the, of that subscription.
So you won't see That annualrenewal, but wait, there's more.
So there is, there was, anarticle that was, that's out
(32:45):
there about the, there's a,there's changes to the per
employee, multi company filesterms and conditions.
So this is one of those thingsthat, your, terms and conditions
the terms and conditions havechanged.
So you need to acknowledge themand you log into camps, your
(33:05):
customer.
Account management portalsystem.
I think that's what campsactually stands for.
They forget an
Matthew Fulton (33:13):
r in there Ramps yeah, because it's a pain trust
me anyways, keep going.
Dan DeLong (33:20):
But you have to accept the terms Now there's no
change yet, but you have toaccept the terms and if there is
a change to the pricingstructure regarding a per
employee or multi company filesthere will be a 30 day notice
when that happens.
(33:41):
Because right now, EnterpriseGold and Platinum includes the
enhanced payroll currently atno, per employee or per direct
deposit.
There's no additional fees forrunning payroll inside of Gold
and Platinum.
Diamond includes assisted, sothere is, some kind of payroll
(34:05):
charge for doing that.
And then, of course, Desktopcurrently allows for.
Any number of company files tobe created as long as you have
the hard drive space, for it sothere's no change but the only
change is the change of theterms and conditions, so They're
(34:25):
setting the stage for, somethingto change but we don't know the
specifics about what that iswhich is interesting in the
Intuit article, if you actuallyclick the link there it takes
you out to learn about them, butit doesn't tell you what they
are, which is ironic.
I guess that's the best way toput it.
Matthew Fulton (34:47):
Now, one of the other changes I thought that I
heard was coming up soon,especially for accountant users
of enterprise plans, is thegrandfather license what is it,
for being able to do 50different companies for payroll,
under like your one bulk group.
(35:07):
I heard, isn't that going away?
Dan DeLong (35:10):
The the enhanced payroll for accountants
Matthew Fulton (35:13):
mean?
Yeah.
Yeah.
Dan DeLong (35:14):
That that has since probably for a couple years now
ha has not been able to be soldfor for new subscriptions.
If you already have the enhancedpayroll for accountants where
you can do 50 EINs, which hasits own pricing structure.
(35:36):
Yeah.
And there is a per employeecharge for, that.
That is, already in place thatis, you, can't buy it if you
wanted to but you can keep it ifyou have it, right?
So that's the, at least that'sthe idea.
(35:57):
If it lapses, if the billinglapses and it goes past the
grace period the chances of.
Of reinstating that.
I think there's two chances,slim and fat.
Ironically, the the oppositesmean the same thing.
When it comes to the, when itcomes to that.
(36:18):
Now, Sarah, on On Facebook orYouTube actually mentioned and
we'll, actually get to thisSarah about are these chain
increases there to push them tothe new QB enterprise.
And we'll talk about that in alittle bit.
But clearly.
Into it and what she said to bein.
(36:38):
I was just reading her.
But it's clearly, this is the,lever of uncomfortability that
Intuit can press for thosepeople considering, is this now
the time to move to QuickBooksOnline, right?
This is where those thingsthings to consider is this,
(37:02):
causes a reflection, right?
Is it worth it?
I've seen many, people.
In enterprise, in QuickBooksEnterprise that don't need to be
there, right?
Like they're not using all ofthe functionality.
Whether I was on the Intuit sideof things or or, lately.
(37:27):
The one, one great thing aboutenterprise is it's all
encompassing.
You can do a lot of things inone place and that's that's
about the only thing that IntuitEnterprise Suite and QuickBooks
Enterprise share in common isthat, yes, it's an ecosystem
where you can do your payroll,you can do your inventory
management, you can do that sortof thing.
(37:49):
I would not say do yourinventory management in Intuit
Enterprise Suite, but that isit, it's designed to be.
One stop shop type of thing,for, those things, right?
And then prior increaseshistorically they're, 5%.
So clearly, a larger increaselike this, is a, they're,
(38:16):
turning the screw a little bitharder to make you, to, really
have that pondering.
And then the other things thathave happened as well, they've
removed the ProAdvisor lifetimediscount and any.
Changes to the license is a newis, seen as a new subscription.
(38:37):
So if you add a user, if youchange a metal going from silver
to gold or something like that,that is that event is,
considered to be a newsubscription.
So if they had a lifetimediscount of, the pro advisor
referral in the past they wouldend up losing now they would
get, the introductory typicallythe first year.
(39:00):
Discount.
But then, of course, after that,it goes to MSRP which as we have
just said, is now significantlyincreasing, right?
This is one of the things that Iwant to talk about where Intuit
Enterprise Suite is notQuickBooks Enterprise Solutions,
which I think that's what theyasked, right?
(39:22):
Intuit Enterprise Suite is stillgoing to be based on QBL, right?
Whatever the feature set of theQuickBooks Online subscription,
that is going to be the base.
Feature set that they're goingto have inside of, Intuit
Enterprise Suite.
Now, on top of that, layered ontop of that is this idea of
multiple entity.
(39:44):
And then having significantamount of, users.
You can have up to 500 users.
And then as we had just talkedabout, there's no external
pricing.
Like, you can't go to a websiteand say how much is this going
to cost me, which is prettystandard.
I think for all
Matthew Fulton (40:01):
enterprise plans out there,
Dan DeLong (40:03):
I just wish they wouldn't have used the word
enterprise, right?
Because that's where it getsvery confusing between the two.
When you say they already have aprogram called QuickBooks
enterprise Intuit enterprisemust be the same thing.
So I'll get the exact samefunctionality that I have in
(40:24):
desktop in.
The Intuit enterprise suite orand then to add this other
confusion, right inside ofenterprise.
They're constantly advertisingcloud access, right?
Which is not either of thesethings.
This is merely taking.
QuickBooks Enterprise, thedesktop product, and putting it
(40:46):
in a cloud hosting environment,which then allows you to have
the features functionality ofQuickBooks Enterprise in an
Anywhere Access, available,environment, but you have the
same Challenges that you havewith a desktop environment.
You have to have your otherthings that interface with
(41:09):
QuickBooks in that cloudenvironment as well, whether
you've got it on your localmachine, like your cell or be
Matthew Fulton (41:15):
in the cloud or that server.
So they actually connectcorrectly.
If you've got the yes
Dan DeLong (41:19):
All of your integrated apps, if you have
those, they need to be supportedin there, which then could
potentially change your cloudaccess that you have to have.
So, the cloud access isn'talways the best answer but it
typically is the Better as faras the learning experience,
right?
Okay, I don't have to learnsomething brand new, like going
(41:41):
from QuickBooks Enterprise toIntuit Enterprise or even just
QuickBooks Online, right?
So my, my take, my bottom linehere is that it's a good fit for
companies who are already inQuickBooks Online that are
outgrowing.
What QuickBooks Online is ableto do for them, right?
If they have multiple entities,and they have multiple
(42:03):
subscriptions in QuickBooksOnline, and they want to be able
to do the, do two, dointercompany transfers, and have
this multi dimensional reportingalready in there, then that
might be a good segue, right?
It's not such a drastic thing astaking their, okay, we've got
(42:24):
five, QuickBooks Enterprisefiles that we're, running and
we're going to move them intoQuickBooks Online and into into
Intuit Enterprise Suite, that isa pretty drastic, change.
Matthew Fulton (42:39):
So I've been working with a company where I
was just helping them migrate.
12 different company files twoquickbooks online and this is an
example where I think for themThe enterprise suite would
actually end up being a goodvalue for them But I still don't
understand for the pricing whenyou're talking about it So that
calculation at 1600 per month Isthat going to be per company
(43:00):
file or is that going to bebecause they'd lose money at
that point if it was for all?
Yeah,
Dan DeLong (43:05):
no, but yeah, that would be You know, and that's
the estimate.
That's the average right?
So exactly You know, so ifthey've got, 15 entities I,
doubt it's going to be 15 1500 amonth.
So it's,
Matthew Fulton (43:23):
would you so, feature set based on, okay,
actually there's one of thethings I was going to ask
feature set is based on QBOsubscription levels.
So that means you'd have yourenterprise suite.
You could have some that are onplus someone advanced within
that, and that's going to be anextra part of it.
Prediction of a challengethey're going to have.
I already know people that havebeen on advanced for some time
(43:44):
with decent sized company files.
And they're slowing down andbogging down because of the
amount of data that's there.
So what I'm expecting, I'mhoping they don't have this
problem, but I won't besurprised.
Is they're going to have ways tobasically spin up almost like
individual servers for theseenterprise suite.
Customers to make sure they haveenough bandwidth to handle all
(44:08):
this if you're doing multientity type work.
I think that's going to be anissue
Dan DeLong (44:12):
Yeah, maybe that's part of the Intuit announcement
with Amazon, right?
So maybe they get a maybe theyget a a dedicated Amazon AWS
servers or something like thatfor just the make sense so who
knows, right?
Again, this is all speculation.
We are not, in the know here asas their, webinar series
(44:37):
subscribe.
All right.
So let's let's throw up the nextpolling question.
Do you have clients that areusing enterprise that are under
utilizing those features or notany.
All right.
So while you're answering that,let's let's continue on because
we are a quarter hour from thepower hour, top of the hour.
(45:02):
So let's talk a little bit aboutthe, Facebook group and and,
then those types of things.
Hector and and Michelle startedthis QB power users, Facebook
group I think about 10, maybe.
I think I think that's when whenthey started this group, as of
today, it's it's close to alittle over 17, 400 members
(45:26):
strong.
One of the things that I reallylove about that Facebook group
is how active and engaged peopleare it's really, a testament.
That's the word I was stuck ontheir testament of people
helping people.
And really the, whole idea of,how the community comes together
(45:48):
to help each other.
There is an Intuit presence inthere, but it's not designed to,
to, to circumvent the gettinghelp directly from, or reaching
out to Intuit through theFacebook group because it
certainly is not scalable thatway we, do have some people that
(46:09):
were there, Allison was, one ofthem, she's no longer even with
Intuit anymore, But seeingpeople get tagged that,
certainly wasn't the whole ideaof the Facebook group.
But we love to have, give asmuch as you take, so that's and
(46:31):
your Facebook group as well qBcommunity live.
We do have some overlap of usersand in there It's
Matthew Fulton (46:40):
the same kind of a concept right and I want to go
back real quickly because Ithink this part's important When
you're saying the intuitpresence as an admin of a group
like these We, we think wereally consider who to let in or
not, especially when it comes toany kind of a vendor of any
sort.
But it's having certain peopleand having those relationships
(47:00):
that allow us the ability toreach out and get certain people
help when there's somethingdeeper that we can't help you
with.
So we try to make sure that it'salways done appropriately.
There've been many times I'vereached out to.
people, the different vendors ofdifferent companies and be like,
Hey, I don't like the way you'redoing this or that.
(47:21):
Please don't do it.
This isn't supposed to ever besalesy.
So we utilize that.
And the most important thing,Dan, I think you'd agree is with
all the groups, always bepolite, be helpful to each
other.
No negative stuff.
If you get grumpy pants atpeople, you're out in my group
personally.
But it like we're here to helpeach other and build each other
up.
Dan DeLong (47:40):
Yeah and it's it's a labor of love for, those that
are administrating or the ormoderating these Facebook
groups, because, we, don't wantto get into these kind of
sidebar conversations.
But by and large, the, Facebookgroup itself has been very self
(48:00):
policed, which is.
It's been great, a greatexperience and we've always been
trying to think of a, way to,people helping people because
this is people helping eachother without any monetary tie,
(48:21):
right?
Always something that I've beenthinking of.
It's like when there is a greatanswer or maybe there's a
suggestion where people coulddonate cause I would love to
see, and quantify how well we'rehelping not just our community,
but, the world, right?
(48:42):
Being able to make a charitabledonation based off of what you
felt the, information was,worthwhile.
So that's, just been somethingthat I've always been wanting to
do.
But again, that's, that's a lotof things to consider, right?
(49:04):
Did you add this?
No, I added this.
Okay.
So there's some drawbacks ofFacebook, right?
You're subject to Facebookchanges, community rules.
I got a notification the otherday that said, we removed one of
your posts.
It wasn't my post, it wassomebody else, but It could not
(49:25):
even show me the post to tell mewhat was removed, but it told me
why it was removed, but Icouldn't confirm or deny, right?
So that's they're going to maketheir changes based off of that.
Searching, in a Facebook groupis a horrible experience.
(49:46):
I've always
Matthew Fulton (49:47):
wished we could have a forum style where the
same question you can see andcategorize certain ways would be
lovely.
Dan DeLong (49:56):
And then there's the occasional people that sneak in
there that, want to advertise.
Or, not be there to give, theywant to take there's some bad
actors that are in there.
So it's it's a challenge, right?
(50:16):
Sometimes.
And then the other thing is thatwe can't necessarily categorize
the group, right?
If you have payments questionsor if you have a payroll
questions or into an enterprisesuite versus QuickBooks.
Enterprise solutions, right?
We had tried.
I think Hector and I were tryingto make tagging mandatory.
(50:40):
Then that just takes away fromjust being able to post and
those types of things.
But these are some of the thingsthat we the double edged sword
of having a Facebook group.
Just wanted to, oh, I've beenhaving
Matthew Fulton (50:56):
never
Dan DeLong (50:59):
ended the poll.
So the, just curious, are youpart of the Facebook group?
And if you are would you ratherhave this community be on a
different platform because thenthat becomes okay, now I got to
check.
Facebook and this otherapplication wherever that
(51:21):
community might be and But whatabout Matt's group and those
types of things?
So I'm just curious.
Matthew Fulton (51:30):
It becomes difficult.
I've looked at multipledifferent ways, trying to create
some external groups somewhereelse.
But like you just said, nowyou're asking people to go join
something else, somewhere elseto be checking for solutions.
And there's already so manysocial media platforms.
It's like, how do you, choosewhich one to be on and, provide
(51:51):
people the best information?
So we've got a couple ofquestions just while you're
running that real quick.
So Peter was asking for a veryfast summarization hard to do a
summarization between advancedversus enterprise suite, because
I haven't played with it a wholebunch yet.
The key things I'm understandingso far is enterprise suite.
Of course you're going to havethe ability to do that multi
(52:12):
entity back and forth.
So in other words, you can havemultiple Kibio advanced company
files.
And you would have the abilityto do like journal entries that
are transferring back and forthbetween companies, making things
easier.
They're also with down the road,enterprise suites going to have
higher set of features andfunctions and deeper
integrations to third partyapps.
Those deeper grations areexpected to specifically be a
(52:36):
part of enterprise suitespecifically.
The the number of users and someother aspects.
I think that's the fastestsummarization I can give.
Dan DeLong (52:46):
Yeah, I've got a link in the, slides and the
handouts and on the landing pageabout a blog I wrote where it's
a kind of like a first look hasa little bit of snark to it.
But because anytime that theybring something new to the
table, it's a lot of times it'sa lot of fanfare.
And now we've seen that this isa huge Pricing increase
(53:08):
potentially.
And I think Anna put in thechat.
She got a quote and it was 2,700 per entity, regardless of
the underlying flavor underneaththat.
So even if they did downgrade,they wouldn't be saving anything
by mixing and matching.
So that's that's an interestingthing.
Now, that doesn't mean that'sThe price, right?
(53:31):
So that's just a quote that theygot, right?
Which when you are going throughthis whole sales process, we're
into an enterprise suite,there's a negotiation, right?
Which is a lot of back andforth, and they'll be able to
have some wiggle room dependingon the.
Suite part of the enterprisesuite, right?
(53:53):
Are you doing payroll?
How many employees are you doingpayroll for?
Are you doing payments and theQuickBooks bill pay, right?
So all of those ancillary orconnected services that's going
to have a revenue tied to them.
And as you pointed out beforethere was a significant amount
of QuickBooks payments thatmoney collected, right?
(54:15):
That's all part of the bottomline, right?
So we do have a couple of poststhat we want to talk about here.
This one I brought up becausethis is a very simple question
of how do I run an AR by classin QuickBooks Online.
So this was one of those thingswhere it's the functionality of
(54:38):
the class, dictates the blockagein the question.
I'm sorry, classes, is,something that is assigned at
the line item, right?
It's the target of thetransaction, right?
(55:00):
That is not something that youcan necessarily have a class on
the AR side of things, right?
So if you're running like an ARreport, the, source or the, even
if you said I only want to signone one class per transaction
(55:22):
and you put it in the header atthe top with the class that
still only assigns the class onthe line item details, even of
that invoice, right?
It does not.
Yeah, it does not do the thesource of the of the
transaction, with the exceptionof a journal entry, that's the
only kind of transaction whereyou can assign a class on the
(55:46):
source of the transaction.
This is where QuickBooks onlinediffers a little bit in, in,
desktop where there's a balancesheet by class inside of.
Desktop where it actually doesthe proration of each
transaction to be able to giveyou that balance sheet by class
(56:08):
taking that line item andproportionately spreading it
across the other balance sheetitems that can't be classified.
Now in QuickBooks Online, you'vegot a location and location is
the source.
Easiest answer to this.
All right.
This person's question is doeverything by location, and then
(56:31):
you'll be able to run your AR bylocation even if you use
location and class as aduplicate list, right?
Matthew Fulton (56:39):
Which requires QuickBooks Online Plus or
Advanced to do locations andclasses just as a quick
reminder.
Good
Dan DeLong (56:45):
call out there.
All right this was aninteresting scenario where
QuickBooks Online payrollfilings they were doing zero
dollar payroll forms becausethey had a Inadvertently turned
on payroll inside of QuickBooksOnline Accountant, right?
And I had seen this happen acouple other times before they
(57:08):
were doing the payrollcertification and entered in
some payroll information insideof QuickBooks Online Accountant,
and which turned on turned onpayroll, but they weren't
actually running their payrollinside of QBOA.
And what happened was, is thatafter they did their
(57:29):
certification, lo and behold,after that, they, got a
rejection notice from from theirpayroll provider because Intuit
beat them to the punch andactually submitted the 941 or
the 940 forms.
For them with nothing, right?
Because there was no payrolldata inside of QBOA.
(57:53):
But I guess that's because itwas really easy to submit that.
It decided, it, it beat the ADP,or in this case it was Gusto to,
to the punch.
So they got a rejection noticeto be able to do that.
It's one thing that you want tomake sure that when you return
(58:13):
when you're doing firm billingthis is, one of the Explanations
why payroll could get turned on.
If you're doing firm billingwhere you're doing the
management of the of thesubscription, whether it's QB
QuickBooks online or payrollthere is a parent child
relationship that that happensand your payroll actually gets
(58:36):
turned on, even though you'renot even running a payroll.
As long as you don't enter inyour EIN into the service, then
that does
Matthew Fulton (58:45):
it have anything to report to
Dan DeLong (58:47):
basically, but if you inadvertently turn it on,
you can go into the settings andthen turn off the automatic
taxes and forms so that the zerodollar returns are not going to
interfere with your realreturns.
And there's an article in thereas well as how do you turn off
(59:07):
turn on or off the form filing.
This was a really cool, post andI wanted to, pull this up and
and, spotlight it.
And I hate, I'm going to say hername wrong.
(59:31):
She's a, great person.
Great to have conversations withat the, conferences.
This is a really great exampleof actionable feedback for,
Intuit.
And she's talking about themodern reports, and, explaining
the that in.
In the modern reports, there'sthree, account filters, which is
(59:59):
weird to go in and see that, totake a look at the, account
she's using account and accountdetails.
And when she tried to filter forboth of them, she ended up
getting a blank report.
But in in in, as she pointed outthere in the classic view, it
worked fine.
(01:00:19):
So this is one of those thingsthat Intuit needs to know these
things.
Because the way that the modernreports and the report filters
tend to work is it's one ofthose things in the modern view
that some of those filters arealmost like three dimensional,
right?
(01:00:39):
And when you do search for andfilter for some of them, it may
be looking at the wrong side ofthe transaction, which in,
results into that poorexperience, right?
But the sharing of the reportis, this was a great feedback
too.
There's no There's no share withmy firm right where I just want
(01:01:02):
to share the firm now I don'tknow if they actually changed
that just yet.
Do you know matthew?
Matthew Fulton (01:01:08):
I've seen where you could build it in there.
But you it is hard to get tosome of the stuff and I probably
should go to the post and try toanswer, but one of the things
I've noticed with from theclassic view reports, the modern
day modern view reports, ifyou're using QuickBooks online
advanced, they're bad ass, it'samazing what you can do because
(01:01:29):
you can get into deeper detail,the transaction line detail, and
you can get information fromthat and make very complex
reports.
But if you're not usingadvanced, the modern view does
have quite a few challenges, andthey had I promise that before
they were going to switcheverything over, they were going
to make sure all the othercustomized classic view ones
(01:01:50):
would work going over.
So I would suggest directlyreaching out to support and
getting a push to the rightperson on it.
And when you're in the,
Dan DeLong (01:01:59):
And when you're in the modern view put the,
feedback, and as, as actionableas you can, like this, is a
great, example of being able toprovide the actual feedback, but
do that in the section that, Ifthere is a provide feedback
(01:02:20):
option on the screen that you'reon, do that in there because
that typically tends to go tothe product managers or people
who are really curious about thefeedback of that particular
feature.
So I know modern, reports willhave that.
All right, so let's throw up thelast poll question.
(01:02:41):
We're coming in for a landing.
We're a little bit over our timeof the power hour.
Appreciate you sticking aroundand.
If you gotta go, you gotta go.
I understand that.
But it wasn't as information asusual.
Exactly.
Power and then some Matthew, anyclosing thoughts here?
Matthew Fulton (01:03:06):
Boy, I'm glad part of me is glad I didn't see
that post earlier because mybrain spinning on the reports
and what you can do with it.
I like those kind of challengesI always love, but they are
rabbit holes to dive into andjust get lost at times.
Somebody
Dan DeLong (01:03:21):
was saying on on YouTube the post by that we just
showed up there.
It's so valuable.
She always has the best, mostthorough feedback.
She's
Matthew Fulton (01:03:32):
She's on another level with her.
She dives in so deep and findsthese things.
And that's a true talent.
Some people would complain aboutthat, but it's That's the
nuanced stuff that we need tounderstand, how things will or
will not work, because it's alsothe difference from desktop and
enterprise desktop version to anonline is, if you're used to
(01:03:53):
doing it a certain way, how arewe going to do it in the online
environment if we can't even getthe custom fields, dang it.
Dan DeLong (01:03:59):
Yeah, he's always stuck on that custom field, man.
Matthew Fulton (01:04:05):
All right.
Yeah.
Dan DeLong (01:04:08):
So next time on the QB power hour, we are going to
have Mike Mylon joining us whowill be talking about his, his
he was showing me this this newfeature that he has in, his, his
application called a, clientconversation starter.
(01:04:28):
So as we're trying to have thesevaluable client conversations, a
lot of us.
Don't know what to say or how,to start that conversation.
And this is like a guided guidedresource.
So look forward to having him onin a couple of weeks.
And hopefully guys,
Matthew Fulton (01:04:47):
you don't want to miss it.
I'm telling you, he's superfunny.
Yeah.
Dan DeLong (01:04:52):
He's also a cheese fan.
So hopefully I'll be able to rubin the Eagles victory next time
when we see him on the nextpower hour, we appreciate you
joining us here today.
And we'll see you next time onthe power hour.
Thank you again.
I just realized I need to update that intro
because unfortunately we don'thave Michelle and Dan, we have
spot and Dan.
Matthew Fulton (00:41):
I can be Michelle.
I'm okay with that.
Dan DeLong (00:42):
Okay.
But I, will actually be seeingMichelle.
She got selected.
I don't know if you've beenseeing that she got selected for
the lottery of, she, she isgoing to the super bowl.
She got selected to actually.
Because as season ticket holdersyou get magically drawn.
(01:06):
She never got drawn to buySuperbowl tickets.
She got selected this, year.
But she needed three ticketsinstead of two.
She found.
Another pair and offered thesecond one to me.
So I'm actually going to seeMichelle at the Superbowl
because as we're driving acrosscountry we would actually be by
(01:29):
New Orleans during this weekend.
Hold on.
So
Matthew Fulton (01:32):
you just totally buried the lead there.
Dan's going to the Superbowl,everybody, is what that actually
is.
That was, nice way to stick thatin.
That is amazing.
Congratulations.
Dan DeLong (01:41):
Yeah.
It's, face value, but it's avery big face.
For these tickets.
And we were, seriously debatingif we could, if we actually
wanted to do that.
I'm from the Philadelphia areaand we do Kansas City to my
son's chagrin so this is the,Super Bowl that we should be
(02:06):
seeing, simply because we, likeboth teams and we're happy
either way who wins, but heartswith the, hearts with our home
team, so I'll be wearing myEagle stuff and sitting next to
Michelle, which will be reallycool to to see her, at the,
Super Bowl.
So today we're going to betalking about some Intuit news
(02:33):
and and our Facebook group Q andA.
So Pleased to have you joiningus here today on the QB Power
Hour.
My name is Dan DeLong, owner atDanwith and School of
Bookkeeping, worked at Intuitfor nearly 18 years, co hosting
today, also the workshopWednesday that we do over at the
School of Bookkeeping as well.
And, now also I'll leave I don'twant to take spots under, but
(02:59):
we're, doing a Deep Dive guesthost with the unofficial
QuickBooks Accountant Podcastwith Alicia Katz Pollack as
well.
New new project there for, me.
Matthew Fulton (03:11):
Matthew?
And I am Matthew Fulton.
I am the founder of ParkwayBusiness Solutions.
The one of the creators of QBCommunity Live Facebook group.
Been doing a, whole series with.
Fordley called blueprints forbusiness.
And truly my biggest thing isI'm a workflow nerd.
I like working with appcompanies and helping them
better understand how to use theAPI and helping other
(03:33):
accountants figure out the bestway to connect the dots.
So it's a, it's an honor to behere as well.
And I'm going to say, goPhiladelphia.
Dan DeLong (03:42):
Yay.
I see people Putting in thechat, go chiefs, boo.
Either way, history is going tobe me.
So a little bit about the QBpower hour.
It's every other Tuesday at nooneastern.
I have no idea what time it is,where I'm at, because I'm
driving cross country at thesame time as we're trying to do
(04:04):
the the power hour.
But it's noon eastern.
Are the Power Hour is noweligible for CPE credit.
If you didn't catch Blake Olivertalking about that we have a
channel for the QB Power Hour onEarmark.
So you can always click thatlink in the slides and, be able
(04:25):
to access the, prior ones thatare eligible for, CPE.
This one is not eligible forlive CPE because of the way
they, work that out typicallyabout five days after.
The live webinar they'll postthe the quiz and then you can
take the quiz for the CPE creditbut if you just bookmark the
(04:49):
channel you can always just goand See when those new ones are
posted and and get your CPEcredit
Matthew Fulton (04:58):
I'd love to ask everybody if you are collecting
CPEs Do me a favor in the chatput a one if you're not put a
two, please I'd love to seewho's utilizing the CPEs
Awesome.
Dan DeLong (05:10):
And yeah these, are the two, prior sessions that are
already up there, the 1099problems that we did with Nancy
as well as the sales taxlimitations that we did with
with Avalara.
So you can always check thoseout.
A little bit of housekeeping.
If you do have specificquestions about what we're
(05:31):
chatting about here today,please put them in the Q& A so
that way we can see them and wedon't lose them as all the ones
and twos are flying by in the inthe chat.
The chat is great for justgeneral comments like go Chiefs
or go Eagles or whatever, youhappen to be wanting to say in
the chat.
(05:52):
That's great there too.
And then we also have thewebinar archive.
Links there as well as thehandouts which should be posted.
Whether you're watching
Matthew Fulton (06:03):
earlier We can post it again here shortly
Dan DeLong (06:05):
I have I still have four monitors.
So I don't know where those areliving but they're out there and
we have if you're watching us onthe In the, Facebook group as
we're simulcasting on YouTubeand all that stuff there's a QR
code for the handouts there aswell.
(06:27):
And then we also have the, QBPower Hour stores, if you want
to check out the, QB Power Hourswag.
So what's what's on the agendatoday?
So we're going to be Breakingthis into two major sections, we
have Intuit slash QuickBooksNews, Spot attended the
shareholder meeting that wasjust recently and so we'll be
(06:49):
unpacking some of the thingsthat they talked about and
speculating what that means forthe accounting community.
I do want to, set that, stagethere.
This is No insider informationor anything like that.
This is all publicly in publicinformation, and we're just
gonna be pontificating as towhat the meaning of all of that
(07:12):
is.
And then some of the, inQuickBooks or Intuit news or
topics of there was a combinedUI email confusion that we want
to talk about.
And, There's always thisdiscussion about pricing
increases that we want to talkabout, which might go, might
(07:33):
dovetail into that shareholdermeeting.
And then we have a Facebookgroup where the, for the QB
power hour that we.
There's some common questions orsome posts there that we want to
unpack there as well.
So first polling question whatversion of QuickBooks do you
(07:54):
support with your clients?
And let me go ahead and launchthat.
And while you're answering thatlet's go ahead and dive right
into the shareholder recap.
Matthew, just let me know whenyou need me to.
Matthew Fulton (08:10):
First off, I wanted to clarify one part of
this.
They, every time they do one oftheir quarterly reports or their
annual meeting, these things aremade available through their
website to where you can go backabout a week later and listen to
the webcast, and you can evenlook at their different
presentation.
With that all the images thatyou're seeing, That you'll be
(08:32):
seeing here came straight fromthe presentation.
So it's their information,publicly available information
that we just felt it'd beappropriate to share.
So the links that you're seeingthere, we'll take you to that.
So if you want to go forward onehere, Dan.
So the first thing I we're goingto do some commentary a little
bit afterwards.
So I'll go through some of theinformation that I saw and I
(08:54):
tried to highlight the thingsthat.
We're most important to me onthese slides when you look at
this strategy that intuit talksabout I couldn't help but notice
that this year the accountantswas a smaller section down below
So the consumer small businessbid market that's their main
focus And we're going to talkabout that as we go to the next
slide of how where the money'sgoing Coming from on everything
(09:16):
also Interesting facts though,there are 87 million consumers
on the Intuit platform.
There's 10 million small andmedium sized businesses using
it.
And then 18 million U.
S.
workers that are paid annuallythrough QuickBooks payroll.
And if if you download theslides, you'll see there's other
(09:39):
details on that.
But those are the three that Ifound the most interesting, of
course.
Dan DeLong (09:44):
I remember them saying that like one out of
every six.
Employees or some staggeringnumber is actually paid through
quickbooks payroll, which isPretty great.
I think yeah
Matthew Fulton (09:59):
So that means if you have six employers only one
of them okay, We can go to thenext one here.
And so a big one of the bigparts of the entire conversation
Had to do with They're focusedin artificial intelligence and
using AI.
What I mean by that is Sasanactually mentioned that back in
(10:20):
2018, Intuit took the focusthey, decided to invest heavily
into it and start to use it ineverything they're doing.
They're now seeing that they areinternally using AI to help
their own and develop, their owndevelopment.
So they're saying that theirdevelopment velocity, in other
words, the speed they can getstuff out has increased eight
times.
(10:41):
And through that, It's createdan 11 per their AI improvements
is also improved 11 percentreduction in contact rates.
So what I guess I'm trying tosay there is theoretically
through their AI driven contentanswers everything else.
They've reduced the number ofcalls and touch human touch
(11:02):
points they have to do by 11%.
I found that to be prettyinteresting, of course.
Dan DeLong (11:07):
Yeah, I remember, I don't know what the Intuit
values actually are now, butwhen I was there, one of their
10 values was originally thinkfast, move fast.
And they ended up changing thatto think smart, move fast.
Cause you could do dumb thingsfast.
(11:29):
So, they did change that tothink smart, move fast.
And, Sathan is, was very big on.
Rapid iteration of things.
So he's definitely a fast guy
Matthew Fulton (11:44):
Yes, for sure.
We can skip to the next one nowhere and so through here
obviously being into tax seasonthe TurboTax live and QuickBooks
live was a Decent portion oftheir conversation and the
things I took away ofimportance.
There is the QuickBooks liveThey've seen a 3x increase in
the number of customers usingQuickBooks Live and a 4x
(12:09):
increase in the annual revenueper customer versus the rest of
the QuickBooks Online base.
So in other words, people areusing QuickBooks Live, it's
actually generating a betterannual revenue per customer ARPC
than just somebody whosubscribed to QBO on its own.
TurboTax Live has seen an 11percent increase in customers
(12:30):
and a 5x increase in revenue.
Now, keep in mind, these arestill somewhat newer.
So having that multiplier that'sa little bit easier.
100 to 300 may be a multiple,but it's a lot harder to get
that when you're at 3 millionand then exiting it more and
more
Dan DeLong (12:48):
Yeah they don't, they, I don't know if they
mentioned that, but are theyactually profitable in these
things?
Yeah.
Matthew Fulton (12:55):
They don't talk about that.
Which
Dan DeLong (12:56):
Whether or not they were they, show a profit.
Yeah great, for them to increasethe revenue.
But if, that's actually a costcenter for them as opposed to a.
Matthew Fulton (13:09):
It's a good point because, so I started
listening to these back whenSasson first came into office
and even back then they used tobreak out the different types of
subscriptions.
You could see what was QBOversus desktop enterprise and
where the money was coming in.
They don't do any of thatbreakout anymore.
You can't see that stuff aseasily at all.
So we can move ahead to the nextone as well.
Dan DeLong (13:31):
That's into a confidential.
Matthew Fulton (13:32):
Yeah, another large portion of this and this
is we're going to dovetailpretty soon into the combined ui
It's the interconnectivity oftheir ecosystem.
This is the big vision the biggoal.
So their acquisition of creditkarma bringing people in There
was one question one of thepeople on the call asked was are
(13:55):
they ever going to make areplacement for mint and the
answer was a whole bunch ofwords salad to basically come
back and say no we're not it'sgoing to be credit karma is the
piece we're trying to serve thisbut what they found is the
number of people that are usingcredit karma who Actually having
TurboTax now do their taxes aswell has significantly
increased.
So these are the plays they'remaking trying to give you the
(14:18):
one stop shop to do everythingto get that AP annual ARPC.
We can go to the next one hereand then, so these are the other
interesting ones, QuickBooksOnline, the has gone up by 11
percent in the total customers,their annual revenue per
(14:40):
customer also was 11%, workforcesolutions, basically their
payroll stuff, 23 percentincrease, money portfolio, so
this is their payments,processing, everything else, 20
percent increase And a totalpayment volume of 124 billion.
That I found very interesting.
So that's the money that'sflowing through in the do all
(15:02):
this stuff which is prettypowerful.
And then MailChimp also had an11 percent increase in revenue.
And we can go to the next onehere.
QuickBooks Online Advanced.
28 percent increase insubscriptions.
36 percent increase in theecosystem revenue.
(15:23):
Now, so that's that annualrevenue per customer.
36 compares to 11%.
With the QBO customers.
So you're seeing more money,obviously it's more expensive,
but they're making more moneyoff advanced that way.
And the retention actually wentup 2 percent to 84 percent with
the people using advanced.
So people that get into it aresticking with it and actually.
(15:44):
Liking it seems like
Dan DeLong (15:47):
they're not just getting it for the initial
discount They're actually usingthe features
Matthew Fulton (15:52):
exactly Into it.
So the enterprise suite they sayestimated right because it's
just brand new.
It's just coming out They'reestimated.
They estimate it's gonna be 20kannual revenue, which is about
1600 per month per customer Ifound that to be interesting as
well because yeah, that's thefirst time
Dan DeLong (16:12):
i've actually seen that number Published.
I knew there were some other,other things that I had seen
where I had heard that numberbefore, but this is the first
time I've actually seen thisnumber published.
For all the people likewondering how much does Intuit
Enterprise Suite cost?
(16:33):
That's their estimation, right?
So there's going to be more orless.
And we'll talk a little bitabout the difference between
QuickBooks Enterprise and IntuitEnterprise a little later.
But yeah.
For those that are alwayswanting to know what's this
going to cost me, that's, whatthey're estimating.
Before you just go blindly senda lead to the Intuit Enterprise
(16:58):
fleet folks, just get give that,estimation, food for thought.
Matthew Fulton (17:05):
And the question becomes, what is, what all does
that include?
The those are the key numbersthat I, really found from the
information through thepresentation and listening to
them.
But Dan and I, you, we weretalking earlier.
Our own thoughts about themeeting and listening to it as
we talked about before They'vebeen very open about the fact
(17:26):
they're going very AI centricThey're trying to make this
platform where things are gonnaconnect together Because they
envision the ability in thefuture that for a small business
earner.
It's getting started withMailChimp with QuickBooks online
everything else That AI will beable to do more and more stuff
for them, such as creating amarketing campaign for them,
send out the email to try tochurn up more business.
(17:49):
He did give an example, which Ifound funny was he said, we even
have the power to, you can takea handwritten note, turn that
into an estimate automatically,have it turn into progress
invoices, collect the money andeverything all for you
automatic.
I'm like, you better you musthave a better version than we
have at this moment, but so Idon't know I don't know.
(18:11):
What are your thoughts on thisinformation dan?
Dan DeLong (18:13):
This is this is really really great stuff as far
as like things that you know, itgrowth is always good, right?
So that's The stability I thinkand I think we're gonna you know
talk about some of these themesas to where did the, where does
the accounting community fitinto all of that?
(18:37):
You, noticed or you, pointed outthe piece of the pie is a little
bit less than than, what we'veseen.
And we talked about this alittle earlier, whereas it seems
like the accounting community ismore of a consumer as opposed
to, a partner now.
(18:58):
That may not be their intentionbut that certainly is, something
that is, I think, being felt bythe, accounting community and at
large, and, I, tend to take aguard, a cautious approach when
it comes to the, actions that,that Intuit is taking, they're
(19:21):
going to do what they're goingto do, and, as we talk about the
Facebook group, what willFacebook and Meta is going to do
the things that they're going todo, right?
And sometimes we're just alongfor the ride when it, comes to
that and, it's whether or not itis a, what's a, what's the
(19:45):
polite way to say, I don't knowwhether or not it's, it fits,
right?
It's whereas in the past, from asales and marketing perspective,
accountants and the, pro advisorcommunity was a sell through.
Type of type of thing where makethe make those, people happy and
(20:08):
they will be promoters andwhereas now it seems like the
accounting community is, a sellto here's the products that,
that we're making available.
If, you want to participate withthat, we'd love to have you
(20:28):
Especially with all of the otherthings that they've been
introducing that potentially,step on a toe or two
Matthew Fulton (20:36):
It's well said.
Peter just answer your question,which he was asking Do we know
what the annual revenue was forqbo advanced?
They didn't talk about that, butthey did say that it increased
36 Percent which doesn't tell usa whole bunch.
We knew that there's an increasein the number of subscriptions
and that it's now generatingmore revenue for them.
(20:59):
And it is higher, of course,than QBO traditionally, but we
don't know what the actualamount per year is that they're,
capturing at this time.
Dan DeLong (21:06):
And considering a year over year, they've had a,
what 17 and a half percentincrease in the cost.
Of course they're going to havesome interest some increase
that's just the the subscriptioncost, whether or not they lose.
It's a
Matthew Fulton (21:24):
great
Dan DeLong (21:24):
blue subscribers or not.
Matthew Fulton (21:26):
One other thing they mentioned was in the
meeting you can go ahead andmove on to the next part though,
is Sasan brought up made acomment about how the ecosystem
the small business owners, youjump in and you've got all these
different apps that they'reconnecting and he, said, they
envisioned having a way to beable to do all that for them.
(21:47):
I really question how that'sgoing to work well having AI be
able to be those connectionpoints because there's so many
variations and not to mentionyou have, to deal with Intuit
changing things all the time.
So tags going away because tagsare going away.
They're adding a custom field toall the different versions is
(22:07):
their solution for one of them,even from the lowest one up and
higher ones where you alreadyhave three, you'll now have
four, except for advanced,you'll stay at the 12.
API is still only going to giveyou access to three.
There's still variations therethat's interesting.
And then for the IntuitEnterprise Suite, this is our
nuanced news things that I know,they will be creating additional
(22:30):
functionality for IntuitEnterprise Suite, API wise, that
won't be available to otherthings in the future.
That'll be interesting to see.
Dan DeLong (22:39):
All right.
I appreciate you, participatingin that, call and sharing that
with with our community.
It's really, these, this is likethe goalposts that they're
setting up or the, what we,here's what we did here.
Here's what we want to do.
And then we can.
(22:59):
Again, like speculate as towhere that where everyone fits
there.
Moving on to this topic of thecombined UI, they did announce
this at the QuickBooks, I'msorry, Intuit Connect, last,
October, right?
Again, I don't know what day itis, that this, coming, this
(23:24):
combined ui which isessentially, whoops, going the
wrong way.
We have a screenshot here fromthe firm of the future article.
Also I, put a blog on the blogarticle on the school
bookkeeping site.
But, with, regards to QuickBooksOnline and MailChimp this is.
Finally where after the the,acquisition of, MailChimp, this
(23:51):
is, where things getassimilated.
And this is one of them whereyou'll have this combined user
interface with a MailChimp andQuickBooks Online, which as, you
were talking Matt, about this isgoing to, this is where, this is
(24:11):
where Intuit is going to.
Make a lot of strides with that,integration between a business.
Running their business andgetting new business, is, going
to, is when this actuallybecomes a thing, which I don't
(24:33):
know that it's there just yet,but being able to track your own
customers, and create a.
An outreach to continue that andnurture that customer
relationship that you have withyour customers.
(24:54):
MailChimp is going to be a greatpart of that because they have
their, suite of services.
I've used it, but I haven'tgotten like into the, weeds.
Are you a, power?
Would you say you're a powerMailChimp user or is it more of.
Matthew Fulton (25:13):
I, so I've done a lot with MailChimp
independently, but I haven'tused it much within the
connectivity view withQuickBooks online.
That was one of theirstatistics.
They mentioned is they've seen a22 percent increase in the
number of people that are using.
MailChimp and QuickBooks Onlinetogether.
So people are starting to useit.
(25:36):
But I haven't tried theinterconnectivity piece of it
the same way.
Might worry about this and Iwant to ask this to everybody in
the chat, cause I think weshould start a poll right now.
How long until we get a revertback to the basic look?
Because my biggest concern rightnow is where's my sidebar?
How do I get to the stuff forthat immediately?
(26:00):
I'm having nightmares of thebusiness view versus account
view right now.
Dan DeLong (26:05):
Yeah, someone didn't wasn't, participating in that
that beta test.
But as far as what has happenedor what happened and the
confusion that arrived, becausenothing says, Alert your
accountant in January about abrand new user interface, right?
(26:26):
So there was this email thatwent out about an upcoming test
of this combined user interface.
And, that sent a lot of,accountants into a tizzy because
while they're trying to do theirpayroll forms and all the, busy
things that, come at your end,let's just go ahead and change
(26:50):
the way everything looks inQuik, right?
It wasn't as bad as, it, seemed,but it was certainly something
that caused, triggered a lot ofpeople to to panic a little bit
because the last thing you wantto do when you're trying to do
(27:12):
all these busy year end thingswith If you rely on that
sidebar, where, the sidebar goin your, navigation of inside a
quick, not all is lost, right?
Before you go any
Matthew Fulton (27:32):
further real quick, because we have a lot of
people that are mentioning, andI agree, RightTool, everybody's
use RightTool, for this.
I trust into Mark and Hectorthat they're already thinking
about this.
Some of the things we don't knowyet, Is it going to be that all
the URLs for the other aspectsof like your journal entries,
your bank feeds, if all of thatstuff is still the same, and if
(27:52):
all of those pages remainlooking the same, right tool
will have no challenge.
But if it's a situation, they'removing where buttons are, now
you're going to actually,they're going to have to recode
things to be able to find theright places to make certain
features and functions work.
I trust the team will do it, butthey may have some extra work in
front of them.
Dan DeLong (28:13):
Hopefully they don't go all in and change put in, put
things in a subdomain, Yeah, gbomp intuit com or something like
that, will break all of theirall the hard work that they did.
But as as Kim s directly stated,and in the firm of the future
(28:39):
article.
This will only affect new users.
So your existing clients shouldnot be offered this combined UI.
And we, and we've heard thisbefore, it should not affect, it
should not affect anyone who'sconnected to an account past
(29:00):
doesn't necessarily dictate thefuture.
They can certainly that is theirgoal.
Of course, mistakes happen.
If you're connected to anaccountant you should not be
offered this combined UI becausethat would cause angst and in
the event that you do get aclient that Did opt into this
(29:24):
you can opt out.
For of the test by going to thegear and then there should be a
little a button there in thelower right to leave the early
access program while Accountantsand bookkeepers are trying to do
10 99s and process your payrollforms with a brand new user
(29:44):
interface on top of all So acouple links in there
Matthew Fulton (29:47):
Yeah, what's going to happen though, if you
get it, the brand new companygoes, gets QuickBooks online,
has this new look, and then theycome to you, oops, there we go,
and they come to you and add youon as an accountant, what
happens then, is going to be thequestion, because the importance
of that question is that's goingto tell you a lot about what
they're doing, UI or not, on howto connect these pieces I'm
(30:10):
wondering what that's going tolook like.
Dan DeLong (30:12):
Yeah, that, remains to be seen.
All right, so let's talk alittle bit about the QuickBooks
Enterprise pricing updates as ofFebruary 1st, which was three
days ago, They are going toincrease the price of, this is
(30:33):
QuickBooks Desktop Enterprise,has nothing to do with Intuit
Enterprise Suite because, wedon't know what the price of
Intuit Enterprise Suite is, sohow would we know it's going to
increase?
But Into it or I'm sorryenterprise silver, gold, and
platinum is for precious metalsin a, jewel three precious
(30:54):
metals in a jewel.
So silver, gold, and platinumthey get a 15% bump, which is a
significant price increase forseats one through five and
that's total, right?
So if they have a total seatMulti user access single or
(31:15):
multi up to five, it would be a15 percent increase.
If they are six and above andit's not split out, right?
So it's, if they have a six userlicense, it's a 20 percent
increase.
For, all seats.
So it's not just for not tiersis what you're saying.
Yeah, exactly.
And then so 20% increase forsilver, gold and platinum
(31:38):
diamond and white gold.
Hey, we've got another We've gotanother one in there.
It's the flat 15 percentincrease and then legacy hosting
meaning that if you had theright right works cloud access
there will be a 15 percent risefor all plans whether they're
(31:59):
out of cart or bundled and it'simportant to note that's
effective on the annual renewal.
So even if you're.
paying monthly that increasewon't go into place until your
anniversary of the annualsubscription.
You're not paying, you're payingmonthly, but you're it's an
(32:20):
annual subscription.
So whenever you activated yourenterprise license that dictates
the birthday or the anniversaryof the, of that subscription.
So you won't see That annualrenewal, but wait, there's more.
So there is, there was, anarticle that was, that's out
(32:45):
there about the, there's a,there's changes to the per
employee, multi company filesterms and conditions.
So this is one of those thingsthat, your, terms and conditions
the terms and conditions havechanged.
So you need to acknowledge themand you log into camps, your
(33:05):
customer.
Account management portalsystem.
I think that's what campsactually stands for.
They forget an
Matthew Fulton (33:13):
r in there Ramps yeah, because it's a pain trust
me anyways, keep going.
Dan DeLong (33:20):
But you have to accept the terms Now there's no
change yet, but you have toaccept the terms and if there is
a change to the pricingstructure regarding a per
employee or multi company filesthere will be a 30 day notice
when that happens.
(33:41):
Because right now, EnterpriseGold and Platinum includes the
enhanced payroll currently atno, per employee or per direct
deposit.
There's no additional fees forrunning payroll inside of Gold
and Platinum.
Diamond includes assisted, sothere is, some kind of payroll
(34:05):
charge for doing that.
And then, of course, Desktopcurrently allows for.
Any number of company files tobe created as long as you have
the hard drive space, for it sothere's no change but the only
change is the change of theterms and conditions, so They're
(34:25):
setting the stage for, somethingto change but we don't know the
specifics about what that iswhich is interesting in the
Intuit article, if you actuallyclick the link there it takes
you out to learn about them, butit doesn't tell you what they
are, which is ironic.
I guess that's the best way toput it.
Matthew Fulton (34:47):
Now, one of the other changes I thought that I
heard was coming up soon,especially for accountant users
of enterprise plans, is thegrandfather license what is it,
for being able to do 50different companies for payroll,
under like your one bulk group.
(35:07):
I heard, isn't that going away?
Dan DeLong (35:10):
The the enhanced payroll for accountants
Matthew Fulton (35:13):
mean?
Yeah.
Yeah.
Dan DeLong (35:14):
That that has since probably for a couple years now
ha has not been able to be soldfor for new subscriptions.
If you already have the enhancedpayroll for accountants where
you can do 50 EINs, which hasits own pricing structure.
(35:36):
Yeah.
And there is a per employeecharge for, that.
That is, already in place thatis, you, can't buy it if you
wanted to but you can keep it ifyou have it, right?
So that's the, at least that'sthe idea.
(35:57):
If it lapses, if the billinglapses and it goes past the
grace period the chances of.
Of reinstating that.
I think there's two chances,slim and fat.
Ironically, the the oppositesmean the same thing.
When it comes to the, when itcomes to that.
(36:18):
Now, Sarah, on On Facebook orYouTube actually mentioned and
we'll, actually get to thisSarah about are these chain
increases there to push them tothe new QB enterprise.
And we'll talk about that in alittle bit.
But clearly.
Into it and what she said to bein.
(36:38):
I was just reading her.
But it's clearly, this is the,lever of uncomfortability that
Intuit can press for thosepeople considering, is this now
the time to move to QuickBooksOnline, right?
This is where those thingsthings to consider is this,
(37:02):
causes a reflection, right?
Is it worth it?
I've seen many, people.
In enterprise, in QuickBooksEnterprise that don't need to be
there, right?
Like they're not using all ofthe functionality.
Whether I was on the Intuit sideof things or or, lately.
(37:27):
The one, one great thing aboutenterprise is it's all
encompassing.
You can do a lot of things inone place and that's that's
about the only thing that IntuitEnterprise Suite and QuickBooks
Enterprise share in common isthat, yes, it's an ecosystem
where you can do your payroll,you can do your inventory
management, you can do that sortof thing.
(37:49):
I would not say do yourinventory management in Intuit
Enterprise Suite, but that isit, it's designed to be.
One stop shop type of thing,for, those things, right?
And then prior increaseshistorically they're, 5%.
So clearly, a larger increaselike this, is a, they're,
(38:16):
turning the screw a little bitharder to make you, to, really
have that pondering.
And then the other things thathave happened as well, they've
removed the ProAdvisor lifetimediscount and any.
Changes to the license is a newis, seen as a new subscription.
(38:37):
So if you add a user, if youchange a metal going from silver
to gold or something like that,that is that event is,
considered to be a newsubscription.
So if they had a lifetimediscount of, the pro advisor
referral in the past they wouldend up losing now they would
get, the introductory typicallythe first year.
(39:00):
Discount.
But then, of course, after that,it goes to MSRP which as we have
just said, is now significantlyincreasing, right?
This is one of the things that Iwant to talk about where Intuit
Enterprise Suite is notQuickBooks Enterprise Solutions,
which I think that's what theyasked, right?
(39:22):
Intuit Enterprise Suite is stillgoing to be based on QBL, right?
Whatever the feature set of theQuickBooks Online subscription,
that is going to be the base.
Feature set that they're goingto have inside of, Intuit
Enterprise Suite.
Now, on top of that, layered ontop of that is this idea of
multiple entity.
(39:44):
And then having significantamount of, users.
You can have up to 500 users.
And then as we had just talkedabout, there's no external
pricing.
Like, you can't go to a websiteand say how much is this going
to cost me, which is prettystandard.
I think for all
Matthew Fulton (40:01):
enterprise plans out there,
Dan DeLong (40:03):
I just wish they wouldn't have used the word
enterprise, right?
Because that's where it getsvery confusing between the two.
When you say they already have aprogram called QuickBooks
enterprise Intuit enterprisemust be the same thing.
So I'll get the exact samefunctionality that I have in
(40:24):
desktop in.
The Intuit enterprise suite orand then to add this other
confusion, right inside ofenterprise.
They're constantly advertisingcloud access, right?
Which is not either of thesethings.
This is merely taking.
QuickBooks Enterprise, thedesktop product, and putting it
(40:46):
in a cloud hosting environment,which then allows you to have
the features functionality ofQuickBooks Enterprise in an
Anywhere Access, available,environment, but you have the
same Challenges that you havewith a desktop environment.
You have to have your otherthings that interface with
(41:09):
QuickBooks in that cloudenvironment as well, whether
you've got it on your localmachine, like your cell or be
Matthew Fulton (41:15):
in the cloud or that server.
So they actually connectcorrectly.
If you've got the yes
Dan DeLong (41:19):
All of your integrated apps, if you have
those, they need to be supportedin there, which then could
potentially change your cloudaccess that you have to have.
So, the cloud access isn'talways the best answer but it
typically is the Better as faras the learning experience,
right?
Okay, I don't have to learnsomething brand new, like going
(41:41):
from QuickBooks Enterprise toIntuit Enterprise or even just
QuickBooks Online, right?
So my, my take, my bottom linehere is that it's a good fit for
companies who are already inQuickBooks Online that are
outgrowing.
What QuickBooks Online is ableto do for them, right?
If they have multiple entities,and they have multiple
(42:03):
subscriptions in QuickBooksOnline, and they want to be able
to do the, do two, dointercompany transfers, and have
this multi dimensional reportingalready in there, then that
might be a good segue, right?
It's not such a drastic thing astaking their, okay, we've got
(42:24):
five, QuickBooks Enterprisefiles that we're, running and
we're going to move them intoQuickBooks Online and into into
Intuit Enterprise Suite, that isa pretty drastic, change.
Matthew Fulton (42:39):
So I've been working with a company where I
was just helping them migrate.
12 different company files twoquickbooks online and this is an
example where I think for themThe enterprise suite would
actually end up being a goodvalue for them But I still don't
understand for the pricing whenyou're talking about it So that
calculation at 1600 per month Isthat going to be per company
(43:00):
file or is that going to bebecause they'd lose money at
that point if it was for all?
Yeah,
Dan DeLong (43:05):
no, but yeah, that would be You know, and that's
the estimate.
That's the average right?
So exactly You know, so ifthey've got, 15 entities I,
doubt it's going to be 15 1500 amonth.
So it's,
Matthew Fulton (43:23):
would you so, feature set based on, okay,
actually there's one of thethings I was going to ask
feature set is based on QBOsubscription levels.
So that means you'd have yourenterprise suite.
You could have some that are onplus someone advanced within
that, and that's going to be anextra part of it.
Prediction of a challengethey're going to have.
I already know people that havebeen on advanced for some time
(43:44):
with decent sized company files.
And they're slowing down andbogging down because of the
amount of data that's there.
So what I'm expecting, I'mhoping they don't have this
problem, but I won't besurprised.
Is they're going to have ways tobasically spin up almost like
individual servers for theseenterprise suite.
Customers to make sure they haveenough bandwidth to handle all
(44:08):
this if you're doing multientity type work.
I think that's going to be anissue
Dan DeLong (44:12):
Yeah, maybe that's part of the Intuit announcement
with Amazon, right?
So maybe they get a maybe theyget a a dedicated Amazon AWS
servers or something like thatfor just the make sense so who
knows, right?
Again, this is all speculation.
We are not, in the know here asas their, webinar series
(44:37):
subscribe.
All right.
So let's let's throw up the nextpolling question.
Do you have clients that areusing enterprise that are under
utilizing those features or notany.
All right.
So while you're answering that,let's let's continue on because
we are a quarter hour from thepower hour, top of the hour.
(45:02):
So let's talk a little bit aboutthe, Facebook group and and,
then those types of things.
Hector and and Michelle startedthis QB power users, Facebook
group I think about 10, maybe.
I think I think that's when whenthey started this group, as of
today, it's it's close to alittle over 17, 400 members
(45:26):
strong.
One of the things that I reallylove about that Facebook group
is how active and engaged peopleare it's really, a testament.
That's the word I was stuck ontheir testament of people
helping people.
And really the, whole idea of,how the community comes together
(45:48):
to help each other.
There is an Intuit presence inthere, but it's not designed to,
to, to circumvent the gettinghelp directly from, or reaching
out to Intuit through theFacebook group because it
certainly is not scalable thatway we, do have some people that
(46:09):
were there, Allison was, one ofthem, she's no longer even with
Intuit anymore, But seeingpeople get tagged that,
certainly wasn't the whole ideaof the Facebook group.
But we love to have, give asmuch as you take, so that's and
(46:31):
your Facebook group as well qBcommunity live.
We do have some overlap of usersand in there It's
Matthew Fulton (46:40):
the same kind of a concept right and I want to go
back real quickly because Ithink this part's important When
you're saying the intuitpresence as an admin of a group
like these We, we think wereally consider who to let in or
not, especially when it comes toany kind of a vendor of any
sort.
But it's having certain peopleand having those relationships
(47:00):
that allow us the ability toreach out and get certain people
help when there's somethingdeeper that we can't help you
with.
So we try to make sure that it'salways done appropriately.
There've been many times I'vereached out to.
people, the different vendors ofdifferent companies and be like,
Hey, I don't like the way you'redoing this or that.
(47:21):
Please don't do it.
This isn't supposed to ever besalesy.
So we utilize that.
And the most important thing,Dan, I think you'd agree is with
all the groups, always bepolite, be helpful to each
other.
No negative stuff.
If you get grumpy pants atpeople, you're out in my group
personally.
But it like we're here to helpeach other and build each other
up.
Dan DeLong (47:40):
Yeah and it's it's a labor of love for, those that
are administrating or the ormoderating these Facebook
groups, because, we, don't wantto get into these kind of
sidebar conversations.
But by and large, the, Facebookgroup itself has been very self
(48:00):
policed, which is.
It's been great, a greatexperience and we've always been
trying to think of a, way to,people helping people because
this is people helping eachother without any monetary tie,
(48:21):
right?
Always something that I've beenthinking of.
It's like when there is a greatanswer or maybe there's a
suggestion where people coulddonate cause I would love to
see, and quantify how well we'rehelping not just our community,
but, the world, right?
(48:42):
Being able to make a charitabledonation based off of what you
felt the, information was,worthwhile.
So that's, just been somethingthat I've always been wanting to
do.
But again, that's, that's a lotof things to consider, right?
(49:04):
Did you add this?
No, I added this.
Okay.
So there's some drawbacks ofFacebook, right?
You're subject to Facebookchanges, community rules.
I got a notification the otherday that said, we removed one of
your posts.
It wasn't my post, it wassomebody else, but It could not
(49:25):
even show me the post to tell mewhat was removed, but it told me
why it was removed, but Icouldn't confirm or deny, right?
So that's they're going to maketheir changes based off of that.
Searching, in a Facebook groupis a horrible experience.
(49:46):
I've always
Matthew Fulton (49:47):
wished we could have a forum style where the
same question you can see andcategorize certain ways would be
lovely.
Dan DeLong (49:56):
And then there's the occasional people that sneak in
there that, want to advertise.
Or, not be there to give, theywant to take there's some bad
actors that are in there.
So it's it's a challenge, right?
(50:16):
Sometimes.
And then the other thing is thatwe can't necessarily categorize
the group, right?
If you have payments questionsor if you have a payroll
questions or into an enterprisesuite versus QuickBooks.
Enterprise solutions, right?
We had tried.
I think Hector and I were tryingto make tagging mandatory.
(50:40):
Then that just takes away fromjust being able to post and
those types of things.
But these are some of the thingsthat we the double edged sword
of having a Facebook group.
Just wanted to, oh, I've beenhaving
Matthew Fulton (50:56):
never
Dan DeLong (50:59):
ended the poll.
So the, just curious, are youpart of the Facebook group?
And if you are would you ratherhave this community be on a
different platform because thenthat becomes okay, now I got to
check.
Facebook and this otherapplication wherever that
(51:21):
community might be and But whatabout Matt's group and those
types of things?
So I'm just curious.
Matthew Fulton (51:30):
It becomes difficult.
I've looked at multipledifferent ways, trying to create
some external groups somewhereelse.
But like you just said, nowyou're asking people to go join
something else, somewhere elseto be checking for solutions.
And there's already so manysocial media platforms.
It's like, how do you, choosewhich one to be on and, provide
(51:51):
people the best information?
So we've got a couple ofquestions just while you're
running that real quick.
So Peter was asking for a veryfast summarization hard to do a
summarization between advancedversus enterprise suite, because
I haven't played with it a wholebunch yet.
The key things I'm understandingso far is enterprise suite.
Of course you're going to havethe ability to do that multi
(52:12):
entity back and forth.
So in other words, you can havemultiple Kibio advanced company
files.
And you would have the abilityto do like journal entries that
are transferring back and forthbetween companies, making things
easier.
They're also with down the road,enterprise suites going to have
higher set of features andfunctions and deeper
integrations to third partyapps.
Those deeper grations areexpected to specifically be a
(52:36):
part of enterprise suitespecifically.
The the number of users and someother aspects.
I think that's the fastestsummarization I can give.
Dan DeLong (52:46):
Yeah, I've got a link in the, slides and the
handouts and on the landing pageabout a blog I wrote where it's
a kind of like a first look hasa little bit of snark to it.
But because anytime that theybring something new to the
table, it's a lot of times it'sa lot of fanfare.
And now we've seen that this isa huge Pricing increase
(53:08):
potentially.
And I think Anna put in thechat.
She got a quote and it was 2,700 per entity, regardless of
the underlying flavor underneaththat.
So even if they did downgrade,they wouldn't be saving anything
by mixing and matching.
So that's that's an interestingthing.
Now, that doesn't mean that'sThe price, right?
(53:31):
So that's just a quote that theygot, right?
Which when you are going throughthis whole sales process, we're
into an enterprise suite,there's a negotiation, right?
Which is a lot of back andforth, and they'll be able to
have some wiggle room dependingon the.
Suite part of the enterprisesuite, right?
(53:53):
Are you doing payroll?
How many employees are you doingpayroll for?
Are you doing payments and theQuickBooks bill pay, right?
So all of those ancillary orconnected services that's going
to have a revenue tied to them.
And as you pointed out beforethere was a significant amount
of QuickBooks payments thatmoney collected, right?
(54:15):
That's all part of the bottomline, right?
So we do have a couple of poststhat we want to talk about here.
This one I brought up becausethis is a very simple question
of how do I run an AR by classin QuickBooks Online.
So this was one of those thingswhere it's the functionality of
(54:38):
the class, dictates the blockagein the question.
I'm sorry, classes, is,something that is assigned at
the line item, right?
It's the target of thetransaction, right?
(55:00):
That is not something that youcan necessarily have a class on
the AR side of things, right?
So if you're running like an ARreport, the, source or the, even
if you said I only want to signone one class per transaction
(55:22):
and you put it in the header atthe top with the class that
still only assigns the class onthe line item details, even of
that invoice, right?
It does not.
Yeah, it does not do the thesource of the of the
transaction, with the exceptionof a journal entry, that's the
only kind of transaction whereyou can assign a class on the
(55:46):
source of the transaction.
This is where QuickBooks onlinediffers a little bit in, in,
desktop where there's a balancesheet by class inside of.
Desktop where it actually doesthe proration of each
transaction to be able to giveyou that balance sheet by class
(56:08):
taking that line item andproportionately spreading it
across the other balance sheetitems that can't be classified.
Now in QuickBooks Online, you'vegot a location and location is
the source.
Easiest answer to this.
All right.
This person's question is doeverything by location, and then
(56:31):
you'll be able to run your AR bylocation even if you use
location and class as aduplicate list, right?
Matthew Fulton (56:39):
Which requires QuickBooks Online Plus or
Advanced to do locations andclasses just as a quick
reminder.
Good
Dan DeLong (56:45):
call out there.
All right this was aninteresting scenario where
QuickBooks Online payrollfilings they were doing zero
dollar payroll forms becausethey had a Inadvertently turned
on payroll inside of QuickBooksOnline Accountant, right?
And I had seen this happen acouple other times before they
(57:08):
were doing the payrollcertification and entered in
some payroll information insideof QuickBooks Online Accountant,
and which turned on turned onpayroll, but they weren't
actually running their payrollinside of QBOA.
And what happened was, is thatafter they did their
(57:29):
certification, lo and behold,after that, they, got a
rejection notice from from theirpayroll provider because Intuit
beat them to the punch andactually submitted the 941 or
the 940 forms.
For them with nothing, right?
Because there was no payrolldata inside of QBOA.
(57:53):
But I guess that's because itwas really easy to submit that.
It decided, it, it beat the ADP,or in this case it was Gusto to,
to the punch.
So they got a rejection noticeto be able to do that.
It's one thing that you want tomake sure that when you return
(58:13):
when you're doing firm billingthis is, one of the Explanations
why payroll could get turned on.
If you're doing firm billingwhere you're doing the
management of the of thesubscription, whether it's QB
QuickBooks online or payrollthere is a parent child
relationship that that happensand your payroll actually gets
(58:36):
turned on, even though you'renot even running a payroll.
As long as you don't enter inyour EIN into the service, then
that does
Matthew Fulton (58:45):
it have anything to report to
Dan DeLong (58:47):
basically, but if you inadvertently turn it on,
you can go into the settings andthen turn off the automatic
taxes and forms so that the zerodollar returns are not going to
interfere with your realreturns.
And there's an article in thereas well as how do you turn off
(59:07):
turn on or off the form filing.
This was a really cool, post andI wanted to, pull this up and
and, spotlight it.
And I hate, I'm going to say hername wrong.
(59:31):
She's a, great person.
Great to have conversations withat the, conferences.
This is a really great exampleof actionable feedback for,
Intuit.
And she's talking about themodern reports, and, explaining
the that in.
In the modern reports, there'sthree, account filters, which is
(59:59):
weird to go in and see that, totake a look at the, account
she's using account and accountdetails.
And when she tried to filter forboth of them, she ended up
getting a blank report.
But in in in, as she pointed outthere in the classic view, it
worked fine.
(01:00:19):
So this is one of those thingsthat Intuit needs to know these
things.
Because the way that the modernreports and the report filters
tend to work is it's one ofthose things in the modern view
that some of those filters arealmost like three dimensional,
right?
(01:00:39):
And when you do search for andfilter for some of them, it may
be looking at the wrong side ofthe transaction, which in,
results into that poorexperience, right?
But the sharing of the reportis, this was a great feedback
too.
There's no There's no share withmy firm right where I just want
(01:01:02):
to share the firm now I don'tknow if they actually changed
that just yet.
Do you know matthew?
Matthew Fulton (01:01:08):
I've seen where you could build it in there.
But you it is hard to get tosome of the stuff and I probably
should go to the post and try toanswer, but one of the things
I've noticed with from theclassic view reports, the modern
day modern view reports, ifyou're using QuickBooks online
advanced, they're bad ass, it'samazing what you can do because
(01:01:29):
you can get into deeper detail,the transaction line detail, and
you can get information fromthat and make very complex
reports.
But if you're not usingadvanced, the modern view does
have quite a few challenges, andthey had I promise that before
they were going to switcheverything over, they were going
to make sure all the othercustomized classic view ones
(01:01:50):
would work going over.
So I would suggest directlyreaching out to support and
getting a push to the rightperson on it.
And when you're in the,
Dan DeLong (01:01:59):
And when you're in the modern view put the,
feedback, and as, as actionableas you can, like this, is a
great, example of being able toprovide the actual feedback, but
do that in the section that, Ifthere is a provide feedback
(01:02:20):
option on the screen that you'reon, do that in there because
that typically tends to go tothe product managers or people
who are really curious about thefeedback of that particular
feature.
So I know modern, reports willhave that.
All right, so let's throw up thelast poll question.
(01:02:41):
We're coming in for a landing.
We're a little bit over our timeof the power hour.
Appreciate you sticking aroundand.
If you gotta go, you gotta go.
I understand that.
But it wasn't as information asusual.
Exactly.
Power and then some Matthew, anyclosing thoughts here?
Matthew Fulton (01:03:06):
Boy, I'm glad part of me is glad I didn't see
that post earlier because mybrain spinning on the reports
and what you can do with it.
I like those kind of challengesI always love, but they are
rabbit holes to dive into andjust get lost at times.
Somebody
Dan DeLong (01:03:21):
was saying on on YouTube the post by that we just
showed up there.
It's so valuable.
She always has the best, mostthorough feedback.
She's
Matthew Fulton (01:03:32):
She's on another level with her.
She dives in so deep and findsthese things.
And that's a true talent.
Some people would complain aboutthat, but it's That's the
nuanced stuff that we need tounderstand, how things will or
will not work, because it's alsothe difference from desktop and
enterprise desktop version to anonline is, if you're used to
(01:03:53):
doing it a certain way, how arewe going to do it in the online
environment if we can't even getthe custom fields, dang it.
Dan DeLong (01:03:59):
Yeah, he's always stuck on that custom field, man.
Matthew Fulton (01:04:05):
All right.
Yeah.
Dan DeLong (01:04:08):
So next time on the QB power hour, we are going to
have Mike Mylon joining us whowill be talking about his, his
he was showing me this this newfeature that he has in, his, his
application called a, clientconversation starter.
(01:04:28):
So as we're trying to have thesevaluable client conversations, a
lot of us.
Don't know what to say or how,to start that conversation.
And this is like a guided guidedresource.
So look forward to having him onin a couple of weeks.
And hopefully guys,
Matthew Fulton (01:04:47):
you don't want to miss it.
I'm telling you, he's superfunny.
Yeah.
Dan DeLong (01:04:52):
He's also a cheese fan.
So hopefully I'll be able to rubin the Eagles victory next time
when we see him on the nextpower hour, we appreciate you
joining us here today.
And we'll see you next time onthe power hour.
Thank you again.
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