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In keeping with this effort, from this month, Intuit will include a new suite of features and benefits within QuickBooks, which are designed to simplify routine tasks, sharpen data accuracy and improve workflow control.
Our goal is to dramatically increase the efficiency of our customers so they can free up time for strategic work or to grow their business using the powerful combination of AI and human expertise.
The benefits of adopting AI and automation are clear. Our research* and recent product updates including automated workflows and AI-powered agents in QuickBooks in the US have increased productivity and profitability for SMBs. For example, our data shows that these AI agents, covering tasks such as invoicing, payments, reconciliation, and customer relationship management, save 45 per cent of business owners up to 12 hours every month. Over three-quarters (78 per cent) of Intuit US customers say that these AI solutions make it easier to run their business, and two thirds (68 per cent) report that automation allows them to spend more time on growth initiatives.
Fewer clicks, better accuracy: AI in action
Accountants have told us they spend a significant amount of time working on their clients’ bank feeds to categorise transactions, and this process is often manual, tedious and error prone. Intuit’s new AI-powered bank feed in QuickBooks addresses this by learning from users’ previous actions and suggesting categories based on historical patterns. The accountant remains in the driver's seat, leveraging the AI's suggestions as a powerful tool to validate, refine, and ultimately, elevate their work. For each recommendation, the accountant can review, approve, or amend with confidence - streamlining workflows and improving accuracy.
This enhanced feed offers more accurate categorisation suggestions, allows for inline editing of fields (like category, supplier, class, location, and product/service), and provides payee suggestions with the ability to add new payees directly from the bank feed. This significantly boosts efficiency and provides full transparency on why each suggestion was made, allowing users to maintain control, whilst leveraging AI as much, or as little as is needed.
We have conducted comprehensive global customer testing* with our AI-powered bank feeds across more than 65,000 accountants and SMBs. While we continue to improve this experience from customer feedback, most firms who tried it reported increased efficiency. In fact, 80 per cent of those who had early access said it makes handling transactions easier than before, and 45 per cent of them said they’re already saving 12 hours per month.
Advanced features benefitting growing businesses
For businesses that are growing or becoming more complex, QuickBooks Online Advanced has been enhanced to offer more control and customisation.
Highlights include:
- Granular level permissions - enabling businesses to determine what team members can access do across transactions, reports, expenses, customers, and suppliers.
- Approval workflows for bills and purchase orders created from third party apps in QuickBooks.
- The ability to track and manage sales orders directly within the QuickBooks, so businesses can accurately manage and track inventory availability in real-time.
Each of these changes addresses specific friction points raised by accounting professionals and their clients, reflecting an intent to solve not just for today’s needs but for the demands of tomorrow.
Built for the future of the profession
These updates are part of an ongoing product evolution - one that places automation, control, and flexibility at the centre of the accounting workflow. They also signal a continued commitment partnering with Australian advisors and evolving tools in step with the profession.
In a climate where efficiency is no longer optional and client insights are increasingly valued, innovations like these play a vital role in helping firms stay ahead.
Amanda Newton is the director of GTM Accountant in APAC at Intuit QuickBooks.