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1. QUICKBOOKS LOGO GUIDELINES FULL
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What could be the reason of QuickBooks exit from India? Let’s discuss about some of the possible reasons for this drastic move.

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They also advised their customers to download all their data from the site before the said last date of operations.

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All existing paid subscribers are entitled to a free subscription prior to 31 July 2022, to enable continued use through 30th April 2023 with no charges applied. QuickBooks in a recent event announced that they would be not accepting any new sign ups starting 1 st of July 2022. The most recent development was the announcement by Intuit India and Visa in March 2020 of a collaboration to boost business offerings for SME clients in India and then the pandemic happened. It was bit surprising move from a known name. It never produced direct integration to GSTN portal. The objective was seamless GST compliances, but QuickBooks preferred not to participate in this journey inspite of all the financial and technical bandwidth on their side. QuickBooks was among the last product to became GST compliant.

When GST regime was launched in India in 2017, all the major players applied to become GST Suvidha Provider (GSP).

Intuit’s India team was in charge of developing a number of the core features of QuickBooks Online Advance products, including the workflow automation platform, reporting platform, roles-based access, power tools for power users, and customization.Īffordability, accessibility, ease of use, and low pricing are a few of its selling points. We had launched ProfitBooks around the same time and have been witnessing how the Indian marketing is evolving over the period.

Tally was at that time QuickBooks’ strongest rival, dominating the small and medium business market. QuickBooks positioned itself to target 2 million small companies with broadband connections when it entered the India market.

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Through QuickBooks Online Accountant, it also offers chartered accountants an online practice management solution.Įven before QuickBooks was launched in India by Intuit in 2012, it was available for a full year in alpha and beta versions. Let’s first understand how it all started.Ĭloud accounting, inventory management, cash flow management, and invoicing are all part of QuickBooks’ range of offerings. This came as a shock to business owners who trusted Intuit for managing their day-to-day finances. This date was revised to 30 th April 2023 in line with the end of FY 2022-23, considering customer feedback and requests.Īdditionally, the firm no longer accepts new subscriptions for QuickBooks Online, QuickBooks Online Accountant, QuickBooks Time, or QuickBooks mobile apps in India. Intuit had recently announced that they will be shutting shop on QuickBooks in India on the 31 st of January 2023, after a decade of operations.

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There are established accounting software providers like Tally, Zoho, ProfitBooks in the marketplace to suit this need and one of the most coveted solutions in this domain is Intuit QuickBooks.

Small business owners are known to use all kinds of financial and business management software to organize their accounting and business data. I will also talk about Intuit QuickBooks business in the Indian market, probable reasons of their exit and the impact of this move on their existing customer base. In this post, I’m going to share their opinions along with my views. So, I started talking to the fellow business owners, CAs, bookkeepers and even some of Intuit’s customers who migrated to ProfitBooks to understand their point of view. Initially, I ignored these questions but being in the same industry, I couldn’t avoid facing it. Then what went wrong? Why Quickbooks did not work in India? I mean, they had everything at their disposal – right from a big brand name, talented team, access to virtually unlimited capital, domain expertise and so many other things that business owners wish for. This is what happened when Intuit QuickBooks announced that they are going to shut down their India business.Īs a founder of a competing accounting software (ProfitBooks), I was surprised with this move and was also wondering about what made Quickbooks quit India. How would you feel when the most critical software that you use to run your business suddenly announces that they will no longer serves you?