The Future of QuickBooks

03/01/24 • 58 min

Earmark Podcast | Earn Free Accounting CPE

(Originally recorded on February 15, 2024 on Earmark Webinars+)

Hector and Blake recount a brief history of QuickBooks Desktop vs QuickBooks Online through the end of 2023, the state of Intuit’s current offers and posturing in the market, and where they think QuickBooks is moving into for 2024 and beyond.

Chapters

(01:11) - Hector's Journey: From Tax Practice to Tech Innovator
(03:16) - A Deep Dive into QuickBooks' Evolution
(07:12) - The Shift to QuickBooks Online and Its Ecosystem
(11:41) - Predicting the Future: QuickBooks Desktop's Demise
(12:08) - QuickBooks Online: Aiming for Total Workflow Control
(14:03) - The Role of AI in Shaping QuickBooks' Future
(16:08) - Intuit's Strategy: Moving Beyond Desktop Versions
(25:21) - The Controversy Around QuickBooks Live Bookkeeping and Tax Services
(30:15) - The Impact of QuickBooks on Accounting Professionals
(31:16) - QuickBooks' Strategy for Tax Services
(33:07) - The Evolution of QuickBooks Live and Assisted Services
(35:14) - The Challenges of Running a Service Business vs. Software Company
(37:22) - Intuit's Strategic Shift Towards Assisted Services
(42:08) - The Future of Accounting: AI and Automation
(48:02) - Listener Questions and Insights on QuickBooks Features
(54:37) - Exploring TurboTax Verified Pro and Its Implications
(57:08) - Closing Remarks and Resources

Sign up to get free CPE for listening to this podcast

https://earmarkcpe.com

Earn CPE for this episode

https://app.earmarkcpe.com/?course_id=8b2e537a-e5f6-4c4d-a94f-c93b44000eba

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Connect with Our Guest, Hector Garcia, CPA

LinkedIn: https://www.linkedin.com/in/hectormgarciacpa/
Website: http://www.hectorgarcia.com
Twitter: https://twitter.com/qbkaccounting

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

(Originally recorded on February 15, 2024 on Earmark Webinars+)

Chapters

(01:11) - Hector's Journey: From Tax Practice to Tech Innovator
(03:16) - A Deep Dive into QuickBooks' Evolution
(07:12) - The Shift to QuickBooks Online and Its Ecosystem
(11:41) - Predicting the Future: QuickBooks Desktop's Demise
(12:08) - QuickBooks Online: Aiming for Total Workflow Control
(14:03) - The Role of AI in Shaping QuickBooks' Future
(16:08) - Intuit's Strategy: Moving Beyond Desktop Versions
(25:21) - The Controversy Around QuickBooks Live Bookkeeping and Tax Services
(30:15) - The Impact of QuickBooks on Accounting Professionals
(31:16) - QuickBooks' Strategy for Tax Services
(33:07) - The Evolution of QuickBooks Live and Assisted Services
(35:14) - The Challenges of Running a Service Business vs. Software Company
(37:22) - Intuit's Strategic Shift Towards Assisted Services
(42:08) - The Future of Accounting: AI and Automation
(48:02) - Listener Questions and Insights on QuickBooks Features
(54:37) - Exploring TurboTax Verified Pro and Its Implications
(57:08) - Closing Remarks and Resources

Sign up to get free CPE for listening to this podcast

https://earmarkcpe.com

Earn CPE for this episode

https://app.earmarkcpe.com/?course_id=8b2e537a-e5f6-4c4d-a94f-c93b44000eba

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Connect with Our Guest, Hector Garcia, CPA

LinkedIn: https://www.linkedin.com/in/hectormgarciacpa/
Website: http://www.hectorgarcia.com
Twitter: https://twitter.com/qbkaccounting

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

Previous Episode

How AI is Transforming and Disrupting Audit

Rob Valdez joins Blake to discuss how artificial intelligence and generative chatbots like ChatGPT could automate routine audit tasks. They also explore the potential to train staff more effectively, save significant time on substantive testing, draft higher quality work, and some challenges around adopting these tools, such as security fears, poor system integration, and partners resistant to change.

Sponsor
ShareFile - https://earmarkcpe.promo/sharefile

Chapters

(00:53) - Rob Valdez Joins the Show to Talk About AI
(02:27) - What Does Rob Do and What Is His Background?
(03:35) - State of Artificial Intelligence in Audit
(05:21) - Exploring the Use of AI Chatbots
(08:55) - Potential of AI in Drafting Financial Statements
(12:16) - The Future of AI with Audit
(23:41) - Implications of AI on Audit Staff Roles
(29:14) - The Power of Automation and Teamwork
(31:00) - Challenges in Adopting AI in Firms
(33:36) - The Inefficiencies of Current Data Management
(35:53) - The Need for Integrated Systems
(39:40) - What Will Motivate Aduit Firms To Adapt?
(49:04) - The Possibility of Private Equity Getting Involved
(53:30) - The Importance of Self-Disruption
(54:59) - Thanks For Listening and How To Reach Rob

Sign up to get free CPE for listening to this podcast

https://earmarkcpe.com

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Connect with Our Guest, Rob Valdez

LinkedIn: https://linkedin.com/in/rob-valdez
Twitter: https://twitter.com/robvaldezcpa

Learn more about Novogradac

Website: https://www.novoco.com/

Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/

Next Episode

Hollywood Accounting: A CPA's Journey Into Entertainment

Blake’s conversation with Kendale King, CPA, gives an insider’s view into the intriguing world of entertainment finance. Kendale shares his transition from Big Four auditor to accounting for multi-million dollar studio deals. You’ll see a new side of accounting blending creativity with business strategy. Gain insight into entertainment studios’ complex “Hollywood Accounting” practices around profit participation and residuals. Understand Kendale’s integral role as crypto assets shape future accounting standards. Appreciate his vision to directly integrate CPA abilities into AI applications. If you want to hear an unconventional accounting journey and glimpse the opportunities for accountants to impact media and emerging technologies, join us for Kendale’s exclusive look behind the scenes.

Sponsor
Client Hub - https://earmarkcpe.promo/clienthub

Chapters