Intuit News and Facebook Group Q&A

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.

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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

Transcript

Dan DeLong: 0:30

I just realized I need to update that intro because unfortunately we don't have Michelle and Dan, we have spot and Dan.

Matthew Fulton: 0:41

I can be Michelle. I'm okay with that.

Dan DeLong: 0:42

Okay. But I, will actually be seeing Michelle. She got selected. I don't know if you've been seeing that she got selected for the lottery of, she, she is going to the super bowl. She got selected to actually. Because as season ticket holders you get magically drawn. She never got drawn to buy Superbowl tickets. She got selected this, year. But she needed three tickets instead of two. She found. Another pair and offered the second one to me. So I'm actually going to see Michelle at the Superbowl because as we're driving across country we would actually be by New Orleans during this weekend. Hold on. So

Matthew Fulton: 1:32

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 that in. That is amazing. Congratulations.

Dan DeLong: 1:41

Yeah. It's, face value, but it's a very big face. For these tickets. And we were, seriously debating if we could, if we actually wanted to do that. I'm from the Philadelphia area and we do Kansas City to my son's chagrin so this is the, Super Bowl that we should be seeing, simply because we, like both teams and we're happy either way who wins, but hearts with the, hearts with our home team, so I'll be wearing my Eagle stuff and sitting next to Michelle, which will be really cool to to see her, at the, Super Bowl. So today we're going to be talking about some Intuit news and and our Facebook group Q and A. So Pleased to have you joining us here today on the QB Power Hour. My name is Dan DeLong, owner at Danwith and School of Bookkeeping, worked at Intuit for nearly 18 years, co hosting today, also the workshop Wednesday that we do over at the School of Bookkeeping as well. And, now also I'll leave I don't want to take spots under, but we're, doing a Deep Dive guest host with the unofficial QuickBooks Accountant Podcast with Alicia Katz Pollack as well. New new project there for, me.

Matthew Fulton: 3:11

Matthew? And I am Matthew Fulton. I am the founder of Parkway Business Solutions. The one of the creators of QB Community Live Facebook group. Been doing a, whole series with. Fordley called blueprints for business. And truly my biggest thing is I'm a workflow nerd. I like working with app companies and helping them better understand how to use the API and helping other accountants figure out the best way to connect the dots. So it's a, it's an honor to be here as well. And I'm going to say, go Philadelphia.

Dan DeLong: 3:42

Yay. I see people Putting in the chat, go chiefs, boo. Either way, history is going to be me. So a little bit about the QB power hour. It's every other Tuesday at noon eastern. I have no idea what time it is, where I'm at, because I'm driving cross country at the same time as we're trying to do the the power hour. But it's noon eastern. Are the Power Hour is now eligible for CPE credit. If you didn't catch Blake Oliver talking about that we have a channel for the QB Power Hour on Earmark. So you can always click that link in the slides and, be able to access the, prior ones that are eligible for, CPE. This one is not eligible for live CPE because of the way they, work that out typically about five days after. The live webinar they'll post the the quiz and then you can take the quiz for the CPE credit but if you just bookmark the channel you can always just go and See when those new ones are posted and and get your CPE credit

Matthew Fulton: 4:58

I'd love to ask everybody if you are collecting CPEs Do me a favor in the chat put a one if you're not put a two, please I'd love to see who's utilizing the CPEs Awesome.

Dan DeLong: 5:10

And yeah these, are the two, prior sessions that are already up there, the 1099 problems that we did with Nancy as well as the sales tax limitations that we did with with Avalara. So you can always check those out. A little bit of housekeeping. If you do have specific questions about what we're chatting about here today, please put them in the Q& A so that way we can see them and we don't lose them as all the ones and twos are flying by in the in the chat. The chat is great for just general comments like go Chiefs or go Eagles or whatever, you happen to be wanting to say in the chat. That's great there too. And then we also have the webinar archive. Links there as well as the handouts which should be posted. Whether you're watching

Matthew Fulton: 6:03

earlier We can post it again here shortly

Dan DeLong: 6:05

I have I still have four monitors. So I don't know where those are living but they're out there and we have if you're watching us on the In the, Facebook group as we're simulcasting on YouTube and all that stuff there's a QR code for the handouts there as well. And then we also have the, QB Power Hour stores, if you want to check out the, QB Power Hour swag. So what's what's on the agenda today? So we're going to be Breaking this into two major sections, we have Intuit slash QuickBooks News, Spot attended the shareholder meeting that was just recently and so we'll be unpacking some of the things that they talked about and speculating what that means for the accounting community. I do want to, set that, stage there. This is No insider information or anything like that. This is all publicly in public information, and we're just gonna be pontificating as to what the meaning of all of that is. And then some of the, in QuickBooks or Intuit news or topics of there was a combined UI email confusion that we want to talk about. And, There's always this discussion about pricing increases that we want to talk about, which might go, might dovetail into that shareholder meeting. And then we have a Facebook group where the, for the QB power hour that we. There's some common questions or some posts there that we want to unpack there as well. So first polling question what version of QuickBooks do you support with your clients? And let me go ahead and launch that. And while you're answering that let's go ahead and dive right into the shareholder recap. Matthew, just let me know when you need me to.

Matthew Fulton: 8:10

First off, I wanted to clarify one part of this. They, every time they do one of their quarterly reports or their annual meeting, these things are made available through their website to where you can go back about a week later and listen to the webcast, and you can even look at their different presentation. With that all the images that you're seeing, That you'll be seeing here came straight from the presentation. So it's their information, publicly available information that we just felt it'd be appropriate to share. So the links that you're seeing there, we'll take you to that. So if you want to go forward one here, Dan. So the first thing I we're going to do some commentary a little bit afterwards. So I'll go through some of the information that I saw and I tried to highlight the things that. We're most important to me on these slides when you look at this strategy that intuit talks about I couldn't help but notice that this year the accountants was a smaller section down below So the consumer small business bid market that's their main focus And we're going to talk about that as we go to the next slide of how where the money's going Coming from on everything also Interesting facts though, there are 87 million consumers on the Intuit platform. There's 10 million small and medium sized businesses using it. And then 18 million U. S. workers that are paid annually through QuickBooks payroll. And if if you download the slides, you'll see there's other details on that. But those are the three that I found the most interesting, of course.

Dan DeLong: 9:44

I remember them saying that like one out of every six. Employees or some staggering number is actually paid through quickbooks payroll, which is Pretty great. I think yeah

Matthew Fulton: 9:59

So that means if you have six employers only one of them okay, We can go to the next one here. And so a big one of the big parts of the entire conversation Had to do with They're focused in artificial intelligence and using AI. What I mean by that is Sasan actually mentioned that back in 2018, Intuit took the focus they, decided to invest heavily into it and start to use it in everything they're doing. They're now seeing that they are internally using AI to help their own and develop, their own development. So they're saying that their development velocity, in other words, the speed they can get stuff out has increased eight times. And through that, It's created an 11 per their AI improvements is also improved 11 percent reduction in contact rates. So what I guess I'm trying to say there is theoretically through their AI driven content answers everything else. They've reduced the number of calls and touch human touch points they have to do by 11%. I found that to be pretty interesting, of course.

Dan DeLong: 11:07

Yeah, I remember, I don't know what the Intuit values actually are now, but when I was there, one of their 10 values was originally think fast, move fast. And they ended up changing that to think smart, move fast. Cause you could do dumb things fast. So, they did change that to think 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 now here and so through here obviously being into tax season the TurboTax live and QuickBooks live was a Decent portion of their conversation and the things I took away of importance. There is the QuickBooks live They've seen a 3x increase in the number of customers using QuickBooks Live and a 4x increase in the annual revenue per customer versus the rest of the QuickBooks Online base. So in other words, people are using QuickBooks Live, it's actually generating a better annual revenue per customer ARPC than just somebody who subscribed to QBO on its own. TurboTax Live has seen an 11 percent increase in customers and a 5x increase in revenue. Now, keep in mind, these are still somewhat newer. So having that multiplier that's a little bit easier. 100 to 300 may be a multiple, but it's a lot harder to get that when you're at 3 million and 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 they actually 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 increase the revenue. But if, that's actually a cost center for them as opposed to a.

Matthew Fulton: 13:09

It's a good point because, so I started listening to these back when Sasson first came into office and even back then they used to break out the different types of subscriptions. You could see what was QBO versus desktop enterprise and where the money was coming in. They don't do any of that breakout anymore. You can't see that stuff as easily at all. So we can move ahead to the next one 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 dovetail pretty soon into the combined ui It's the interconnectivity of their ecosystem. This is the big vision the big goal. So their acquisition of credit karma bringing people in There was one question one of the people on the call asked was are they ever going to make a replacement for mint and the answer was a whole bunch of words salad to basically come back and say no we're not it's going to be credit karma is the piece we're trying to serve this but what they found is the number of people that are using credit karma who Actually having TurboTax now do their taxes as well has significantly increased. So these are the plays they're making trying to give you the one stop shop to do everything to get that AP annual ARPC. We can go to the next one here and then, so these are the other interesting ones, QuickBooks Online, the has gone up by 11 percent in the total customers, their annual revenue per customer also was 11%, workforce solutions, basically their payroll stuff, 23 percent increase, money portfolio, so this is their payments, processing, everything else, 20 percent increase And a total payment volume of 124 billion. That I found very interesting. So that's the money that's flowing through in the do all this stuff which is pretty powerful. And then MailChimp also had an 11 percent increase in revenue. And we can go to the next one here. QuickBooks Online Advanced. 28 percent increase in subscriptions. 36 percent increase in the ecosystem revenue. Now, so that's that annual revenue 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 money off advanced that way. And the retention actually went up 2 percent to 84 percent with the people using advanced. So people that get into it are sticking with it and actually. Liking it seems like

Dan DeLong: 15:47

they're not just getting it for the initial discount They're actually using the features

Matthew Fulton: 15:52

exactly Into it. So the enterprise suite they say estimated right because it's just brand new. It's just coming out They're estimated. They estimate it's gonna be 20k annual revenue, which is about 1600 per month per customer I found that to be interesting as well because yeah, that's the first 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 number before, but this is the first time I've actually seen this number published. For all the people like wondering how much does Intuit Enterprise Suite cost? That's their estimation, right? So there's going to be more or less. And we'll talk a little bit about the difference between QuickBooks Enterprise and Intuit Enterprise a little later. But yeah. For those that are always wanting to know what's this going to cost me, that's, what they're estimating. Before you just go blindly send a lead to the Intuit Enterprise 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 numbers that I, really found from the information through the presentation and listening to them. But Dan and I, you, we were talking earlier. Our own thoughts about the meeting and listening to it as we talked about before They've been very open about the fact they're going very AI centric They're trying to make this platform where things are gonna connect together Because they envision the ability in the future that for a small business earner. It's getting started with MailChimp with QuickBooks online everything else That AI will be able to do more and more stuff for them, such as creating a marketing campaign for them, send out the email to try to churn up more business. He did give an example, which I found funny was he said, we even have the power to, you can take a handwritten note, turn that into an estimate automatically, have it turn into progress invoices, collect the money and everything all for you automatic. I'm like, you better you must have a better version than we have at this moment, but so I don't know I don't know. What are your thoughts on this information dan?

Dan DeLong: 18:13

This is this is really really great stuff as far as like things that you know, it growth is always good, right? So that's The stability I think and I think we're gonna you know talk about some of these themes as to where did the, where does the accounting community fit into all of that? You, noticed or you, pointed out the piece of the pie is a little bit less than than, what we've seen. And we talked about this a little earlier, whereas it seems like the accounting community is more of a consumer as opposed to, a partner now. That may not be their intention but that certainly is, something that is, I think, being felt by the, accounting community and at large, and, I, tend to take a guard, a cautious approach when it comes to the, actions that, that Intuit is taking, they're going to do what they're going to do, and, as we talk about the Facebook group, what will Facebook and Meta is going to do the things that they're going to do, right? And sometimes we're just along for the ride when it, comes to that and, it's whether or not it is a, what's a, what's the polite way to say, I don't know whether or not it's, it fits, right? It's whereas in the past, from a sales and marketing perspective, accountants and the, pro advisor community was a sell through. Type of type of thing where make the make those, people happy and they will be promoters and whereas now it seems like the accounting community is, a sell to here's the products that, that we're making available. If, you want to participate with that, we'd love to have you Especially with all of the other things 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 for qbo advanced? They didn't talk about that, but they did say that it increased 36 Percent which doesn't tell us a whole bunch. We knew that there's an increase in the number of subscriptions and that it's now generating more revenue for them. And it is higher, of course, than QBO traditionally, but we don't know what the actual amount 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 percent increase in the cost. Of course they're going to have some interest some increase that's just the the subscription cost, 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 and move on to the next part though, is Sasan brought up made a comment about how the ecosystem the small business owners, you jump in and you've got all these different apps that they're connecting and he, said, they envisioned having a way to be able to do all that for them. I really question how that's going to work well having AI be able to be those connection points because there's so many variations and not to mention you have, to deal with Intuit changing things all the time. So tags going away because tags are going away. They're adding a custom field to all the different versions is their solution for one of them, even from the lowest one up and higher ones where you already have three, you'll now have four, except for advanced, you'll stay at the 12. API is still only going to give you access to three. There's still variations there that's interesting. And then for the Intuit Enterprise Suite, this is our nuanced news things that I know, they will be creating additional functionality for Intuit Enterprise Suite, API wise, that won't be available to other things in the future. That'll be interesting to see.

Dan DeLong: 22:39

All right. I appreciate you, participating in that, call and sharing that with with our community. It's really, these, this is like the 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. Again, like speculate as to where that where everyone fits there. Moving on to this topic of the combined UI, they did announce this at the QuickBooks, I'm sorry, Intuit Connect, last, October, right? Again, I don't know what day it is, that this, coming, this combined ui which is essentially, whoops, going the wrong way. We have a screenshot here from the firm of the future article. Also I, put a blog on the blog article on the school bookkeeping site. But, with, regards to QuickBooks Online and MailChimp this is. Finally where after the the, acquisition of, MailChimp, this is, where things get assimilated. And this is one of them where you'll have this combined user interface with a MailChimp and QuickBooks Online, which as, you were talking Matt, about this is going to, this is where, this is where Intuit is going to. Make a lot of strides with that, integration between a business. Running their business and getting new business, is, going to, is when this actually becomes a thing, which I don't know that it's there just yet, but being able to track your own customers, and create a. An outreach to continue that and nurture that customer relationship that you have with your customers. MailChimp is going to be a great part of that because they have their, suite of services. I've used it, but I haven't gotten like into the, weeds. Are you a, power? Would you say you're a power MailChimp user or is it more of.

Matthew Fulton: 25:13

I, so I've done a lot with MailChimp independently, but I haven't used it much within the connectivity view with QuickBooks online. That was one of their statistics. They mentioned is they've seen a 22 percent increase in the number of people that are using. MailChimp and QuickBooks Online together. So people are starting to use it. But I haven't tried the interconnectivity piece of it the same way. Might worry about this and I want to ask this to everybody in the chat, cause I think we should start a poll right now. How long until we get a revert back to the basic look? Because my biggest concern right now is where's my sidebar? How do I get to the stuff for that immediately? I'm having nightmares of the business 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 happened or what happened and the confusion that arrived, because nothing says, Alert your accountant in January about a brand new user interface, right? So there was this email that went 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 their payroll forms and all the, busy things that, come at your end, let's just go ahead and change the way everything looks in Quik, right? It wasn't as bad as, it, seemed, but it was certainly something that caused, triggered a lot of people to to panic a little bit because the last thing you want to do when you're trying to do all these busy year end things with If you rely on that sidebar, where, the sidebar go in 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, and I agree, RightTool, everybody's use RightTool, for this. I trust into Mark and Hector that they're already thinking about this. Some of the things we don't know yet, Is it going to be that all the URLs for the other aspects of like your journal entries, your bank feeds, if all of that stuff is still the same, and if all of those pages remain looking the same, right tool will have no challenge. But if it's a situation, they're moving where buttons are, now you're going to actually, they're going to have to recode things to be able to find the right places to make certain features and functions work. I trust the team will do it, but they 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, gbo mp intuit com or something like that, will break all of their all the hard work that they did. But as as Kim s directly stated, and in the firm of the future article. This will only affect new users. So your existing clients should not be offered this combined UI. And we, and we've heard this before, it should not affect, it should not affect anyone who's connected to an account past doesn't necessarily dictate the future. They can certainly that is their goal. Of course, mistakes happen. If you're connected to an accountant you should not be offered this combined UI because that would cause angst and in the event that you do get a client that Did opt into this you can opt out. For of the test by going to the gear and then there should be a little a button there in the lower right to leave the early access program while Accountants and bookkeepers are trying to do 10 99s and process your payroll forms with a brand new user interface on top of all So a couple links in there

Matthew Fulton: 29:47

Yeah, what's going to happen though, if you get it, the brand new company goes, gets QuickBooks online, has this new look, and then they come to you, oops, there we go, and they come to you and add you on as an accountant, what happens then, is going to be the question, because the importance of that question is that's going to tell you a lot about what they're doing, UI or not, on how to connect these pieces I'm wondering what that's going to look like.

Dan DeLong: 30:12

Yeah, that, remains to be seen. All right, so let's talk a little bit about the QuickBooks Enterprise pricing updates as of February 1st, which was three days ago, They are going to increase the price of, this is QuickBooks Desktop Enterprise, has nothing to do with Intuit Enterprise Suite because, we don't know what the price of Intuit Enterprise Suite is, so how would we know it's going to increase? But Into it or I'm sorry enterprise silver, gold, and platinum is for precious metals in a, jewel three precious metals in a jewel. So silver, gold, and platinum they get a 15% bump, which is a significant price increase for seats one through five and that's total, right? So if they have a total seat Multi user access single or multi up to five, it would be a 15 percent increase. If they are six and above and it's not split out, right? So it's, if they have a six user license, it's a 20 percent increase. For, all seats. So it's not just for not tiers is what you're saying. Yeah, exactly. And then so 20% increase for silver, gold and platinum diamond and white gold. Hey, we've got another We've got another one in there. It's the flat 15 percent increase and then legacy hosting meaning that if you had the right right works cloud access there will be a 15 percent rise for all plans whether they're out of cart or bundled and it's important to note that's effective on the annual renewal. So even if you're. paying monthly that increase won't go into place until your anniversary of the annual subscription. You're not paying, you're paying monthly, but you're it's an annual subscription. So whenever you activated your enterprise license that dictates the birthday or the anniversary of the, of that subscription. So you won't see That annual renewal, but wait, there's more. So there is, there was, an article that was, that's out there about the, there's a, there's changes to the per employee, multi company files terms and conditions. So this is one of those things that, your, terms and conditions the terms and conditions have changed. So you need to acknowledge them and you log into camps, your customer. Account management portal system. I think that's what camps actually 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 to accept the terms and if there is a change to the pricing structure regarding a per employee or multi company files there will be a 30 day notice when that happens. Because right now, Enterprise Gold and Platinum includes the enhanced payroll currently at no, per employee or per direct deposit. There's no additional fees for running payroll inside of Gold and Platinum. Diamond includes assisted, so there is, some kind of payroll charge for doing that. And then, of course, Desktop currently allows for. Any number of company files to be created as long as you have the hard drive space, for it so there's no change but the only change is the change of the terms and conditions, so They're setting the stage for, something to change but we don't know the specifics about what that is which is interesting in the Intuit article, if you actually click the link there it takes you out to learn about them, but it doesn't tell you what they are, which is ironic. I guess that's the best way to put 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 the grandfather license what is it, for being able to do 50 different companies for payroll, under like your one bulk group. 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 sold for for new subscriptions. If you already have the enhanced payroll for accountants where you can do 50 EINs, which has its own pricing structure. Yeah. And there is a per employee charge for, that. That is, already in place that is, you, can't buy it if you wanted to but you can keep it if you have it, right? So that's the, at least that's the idea. If it lapses, if the billing lapses 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 opposites mean the same thing. When it comes to the, when it comes to that. Now, Sarah, on On Facebook or YouTube actually mentioned and we'll, actually get to this Sarah about are these chain increases there to push them to the new QB enterprise. And we'll talk about that in a little bit. But clearly. Into it and what she said to be in. I was just reading her. But it's clearly, this is the, lever of uncomfortability that Intuit can press for those people considering, is this now the time to move to QuickBooks Online, right? This is where those things things to consider is this, causes a reflection, right? Is it worth it? I've seen many, people. In enterprise, in QuickBooks Enterprise that don't need to be there, right? Like they're not using all of the functionality. Whether I was on the Intuit side of things or or, lately. The one, one great thing about enterprise is it's all encompassing. You can do a lot of things in one place and that's that's about the only thing that Intuit Enterprise Suite and QuickBooks Enterprise share in common is that, yes, it's an ecosystem where you can do your payroll, you can do your inventory management, you can do that sort of thing. I would not say do your inventory management in Intuit Enterprise Suite, but that is it, it's designed to be. One stop shop type of thing, for, those things, right? And then prior increases historically they're, 5%. So clearly, a larger increase like this, is a, they're, turning the screw a little bit harder to make you, to, really have that pondering. And then the other things that have happened as well, they've removed the ProAdvisor lifetime discount and any. Changes to the license is a new is, seen as a new subscription. So if you add a user, if you change a metal going from silver to gold or something like that, that is that event is, considered to be a new subscription. So if they had a lifetime discount of, the pro advisor referral in the past they would end up losing now they would get, the introductory typically the first year. Discount. But then, of course, after that, it goes to MSRP which as we have just said, is now significantly increasing, right? This is one of the things that I want to talk about where Intuit Enterprise Suite is not QuickBooks Enterprise Solutions, which I think that's what they asked, right? Intuit Enterprise Suite is still going to be based on QBL, right? Whatever the feature set of the QuickBooks Online subscription, that is going to be the base. Feature set that they're going to have inside of, Intuit Enterprise Suite. Now, on top of that, layered on top of that is this idea of multiple entity. And then having significant amount of, users. You can have up to 500 users. And then as we had just talked about, there's no external pricing. Like, you can't go to a website and say how much is this going to cost me, which is pretty standard. 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 gets very confusing between the two. When you say they already have a program called QuickBooks enterprise Intuit enterprise must be the same thing. So I'll get the exact same functionality that I have in desktop in. The Intuit enterprise suite or and then to add this other confusion, right inside of enterprise. They're constantly advertising cloud access, right? Which is not either of these things. This is merely taking. QuickBooks Enterprise, the desktop product, and putting it in a cloud hosting environment, which then allows you to have the features functionality of QuickBooks Enterprise in an Anywhere Access, available, environment, but you have the same Challenges that you have with a desktop environment. You have to have your other things that interface with QuickBooks in that cloud environment as well, whether you've got it on your local machine, like your cell or be

Matthew Fulton: 41:15

in the cloud or that server. So they actually connect correctly. If you've got the yes

Dan DeLong: 41:19

All of your integrated apps, if you have those, they need to be supported in there, which then could potentially change your cloud access that you have to have. So, the cloud access isn't always the best answer but it typically is the Better as far as the learning experience, right? Okay, I don't have to learn something brand new, like going from QuickBooks Enterprise to Intuit Enterprise or even just QuickBooks Online, right? So my, my take, my bottom line here is that it's a good fit for companies who are already in QuickBooks Online that are outgrowing. What QuickBooks Online is able to do for them, right? If they have multiple entities, and they have multiple subscriptions in QuickBooks Online, and they want to be able to do the, do two, do intercompany transfers, and have this multi dimensional reporting already in there, then that might be a good segue, right? It's not such a drastic thing as taking their, okay, we've got five, QuickBooks Enterprise files that we're, running and we're going to move them into QuickBooks Online and into into Intuit Enterprise Suite, that is a 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 two quickbooks online and this is an example where I think for them The enterprise suite would actually end up being a good value for them But I still don't understand for the pricing when you're talking about it So that calculation at 1600 per month Is that going to be per company file or is that going to be because 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 if they've got, 15 entities I, doubt it's going to be 15 1500 a month. So it's,

Matthew Fulton: 43:23

would you so, feature set based on, okay, actually there's one of the things I was going to ask feature set is based on QBO subscription levels. So that means you'd have your enterprise suite. You could have some that are on plus someone advanced within that, and that's going to be an extra part of it. Prediction of a challenge they're going to have. I already know people that have been on advanced for some time with decent sized company files. And they're slowing down and bogging down because of the amount of data that's there. So what I'm expecting, I'm hoping they don't have this problem, but I won't be surprised. Is they're going to have ways to basically spin up almost like individual servers for these enterprise suite. Customers to make sure they have enough bandwidth to handle all this if you're doing multi entity type work. I think that's going to be an issue

Dan DeLong: 44:12

Yeah, maybe that's part of the Intuit announcement with Amazon, right? So maybe they get a maybe they get a a dedicated Amazon AWS servers or something like that for just the make sense so who knows, right? Again, this is all speculation. We are not, in the know here as as their, webinar series subscribe. All right. So let's let's throw up the next polling question. Do you have clients that are using enterprise that are under utilizing those features or not any. All right. So while you're answering that, let's let's continue on because we are a quarter hour from the power hour, top of the hour. So let's talk a little bit about the, Facebook group and and, then those types of things. Hector and and Michelle started this QB power users, Facebook group I think about 10, maybe. I think I think that's when when they started this group, as of today, it's it's close to a little over 17, 400 members strong. One of the things that I really love about that Facebook group is how active and engaged people are it's really, a testament. That's the word I was stuck on their testament of people helping people. And really the, whole idea of, how the community comes together to help each other. There is an Intuit presence in there, but it's not designed to, to, to circumvent the getting help directly from, or reaching out to Intuit through the Facebook group because it certainly is not scalable that way we, do have some people that were there, Allison was, one of them, she's no longer even with Intuit anymore, But seeing people get tagged that, certainly wasn't the whole idea of the Facebook group. But we love to have, give as much as you take, so that's and your Facebook group as well qB community live. We do have some overlap of users and in there It's

Matthew Fulton: 46:40

the same kind of a concept right and I want to go back real quickly because I think this part's important When you're saying the intuit presence as an admin of a group like these We, we think we really consider who to let in or not, especially when it comes to any kind of a vendor of any sort. But it's having certain people and having those relationships that allow us the ability to reach out and get certain people help when there's something deeper that we can't help you with. So we try to make sure that it's always done appropriately. There've been many times I've reached out to. people, the different vendors of different companies and be like, Hey, I don't like the way you're doing this or that. Please don't do it. This isn't supposed to ever be salesy. So we utilize that. And the most important thing, Dan, I think you'd agree is with all the groups, always be polite, be helpful to each other. No negative stuff. If you get grumpy pants at people, you're out in my group personally. But it like we're here to help each 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 or moderating these Facebook groups, because, we, don't want to get into these kind of sidebar conversations. But by and large, the, Facebook group itself has been very self policed, which is. It's been great, a great experience and we've always been trying to think of a, way to, people helping people because this is people helping each other without any monetary tie, right? Always something that I've been thinking of. It's like when there is a great answer or maybe there's a suggestion where people could donate cause I would love to see, and quantify how well we're helping not just our community, but, the world, right? Being able to make a charitable donation based off of what you felt the, information was, worthwhile. So that's, just been something that I've always been wanting to do. But again, that's, that's a lot of things to consider, right? Did you add this? No, I added this. Okay. So there's some drawbacks of Facebook, right? You're subject to Facebook changes, community rules. I got a notification the other day that said, we removed one of your posts. It wasn't my post, it was somebody else, but It could not even show me the post to tell me what was removed, but it told me why it was removed, but I couldn't confirm or deny, right? So that's they're going to make their changes based off of that. Searching, in a Facebook group is a horrible experience. I've always

Matthew Fulton: 49:47

wished we could have a forum style where the same question you can see and categorize 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, they want to take there's some bad actors that are in there. So it's it's a challenge, right? Sometimes. And then the other thing is that we can't necessarily categorize the group, right? If you have payments questions or if you have a payroll questions or into an enterprise suite versus QuickBooks. Enterprise solutions, right? We had tried. I think Hector and I were trying to make tagging mandatory. Then that just takes away from just being able to post and those types of things. But these are some of the things that we the double edged sword of having a Facebook group. Just wanted to, oh, I've been having

Matthew Fulton: 50:56

never

Dan DeLong: 50:59

ended the poll. So the, just curious, are you part of the Facebook group? And if you are would you rather have this community be on a different platform because then that becomes okay, now I got to check. Facebook and this other application wherever that community might be and But what about Matt's group and those types of things? So I'm just curious.

Matthew Fulton: 51:30

It becomes difficult. I've looked at multiple different ways, trying to create some external groups somewhere else. But like you just said, now you're asking people to go join something else, somewhere else to be checking for solutions. And there's already so many social media platforms. It's like, how do you, choose which one to be on and, provide people the best information? So we've got a couple of questions just while you're running that real quick. So Peter was asking for a very fast summarization hard to do a summarization between advanced versus enterprise suite, because I haven't played with it a whole bunch yet. The key things I'm understanding so far is enterprise suite. Of course you're going to have the ability to do that multi entity back and forth. So in other words, you can have multiple Kibio advanced company files. And you would have the ability to do like journal entries that are transferring back and forth between companies, making things easier. They're also with down the road, enterprise suites going to have higher set of features and functions and deeper integrations to third party apps. Those deeper grations are expected to specifically be a part of enterprise suite specifically. The the number of users and some other aspects. I think that's the fastest summarization I can give.

Dan DeLong: 52:46

Yeah, I've got a link in the, slides and the handouts and on the landing page about a blog I wrote where it's a kind of like a first look has a little bit of snark to it. But because anytime that they bring something new to the table, it's a lot of times it's a lot of fanfare. And now we've seen that this is a huge Pricing increase potentially. And I think Anna put in the chat. She got a quote and it was 2, 700 per entity, regardless of the underlying flavor underneath that. So even if they did downgrade, they wouldn't be saving anything by mixing and matching. So that's that's an interesting thing. Now, that doesn't mean that's The price, right? So that's just a quote that they got, right? Which when you are going through this whole sales process, we're into an enterprise suite, there's a negotiation, right? Which is a lot of back and forth, and they'll be able to have some wiggle room depending on the. Suite part of the enterprise suite, right? Are you doing payroll? How many employees are you doing payroll for? Are you doing payments and the QuickBooks bill pay, right? So all of those ancillary or connected services that's going to have a revenue tied to them. And as you pointed out before there was a significant amount of QuickBooks payments that money collected, right? That's all part of the bottom line, right? So we do have a couple of posts that we want to talk about here. This one I brought up because this is a very simple question of how do I run an AR by class in QuickBooks Online. So this was one of those things where it's the functionality of the class, dictates the blockage in the question. I'm sorry, classes, is, something that is assigned at the line item, right? It's the target of the transaction, right? That is not something that you can necessarily have a class on the AR side of things, right? So if you're running like an AR report, the, source or the, even if you said I only want to sign one one class per transaction and you put it in the header at the top with the class that still only assigns the class on the line item details, even of that invoice, right? It does not. Yeah, it does not do the the source of the of the transaction, with the exception of a journal entry, that's the only kind of transaction where you can assign a class on the source of the transaction. This is where QuickBooks online differs a little bit in, in, desktop where there's a balance sheet by class inside of. Desktop where it actually does the proration of each transaction to be able to give you that balance sheet by class taking that line item and proportionately spreading it across the other balance sheet items that can't be classified. Now in QuickBooks Online, you've got a location and location is the source. Easiest answer to this. All right. This person's question is do everything by location, and then you'll be able to run your AR by location even if you use location and class as a duplicate list, right?

Matthew Fulton: 56:39

Which requires QuickBooks Online Plus or Advanced to do locations and classes just as a quick reminder. Good

Dan DeLong: 56:45

call out there. All right this was an interesting scenario where QuickBooks Online payroll filings they were doing zero dollar payroll forms because they had a Inadvertently turned on payroll inside of QuickBooks Online Accountant, right? And I had seen this happen a couple other times before they were doing the payroll certification and entered in some payroll information inside of QuickBooks Online Accountant, and which turned on turned on payroll, but they weren't actually running their payroll inside of QBOA. And what happened was, is that after they did their certification, lo and behold, after that, they, got a rejection notice from from their payroll provider because Intuit beat them to the punch and actually submitted the 941 or the 940 forms. For them with nothing, right? Because there was no payroll data inside of QBOA. But I guess that's because it was 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 notice to be able to do that. It's one thing that you want to make sure that when you return when you're doing firm billing this is, one of the Explanations why payroll could get turned on. If you're doing firm billing where you're doing the management of the of the subscription, whether it's QB QuickBooks online or payroll there is a parent child relationship that that happens and your payroll actually gets turned on, even though you're not even running a payroll. As long as you don't enter in your 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 and then turn off the automatic taxes and forms so that the zero dollar returns are not going to interfere with your real returns. And there's an article in there as well as how do you turn off turn on or off the form filing. This was a really cool, post and I wanted to, pull this up and and, spotlight it. And I hate, I'm going to say her name wrong. She's a, great person. Great to have conversations with at the, conferences. This is a really great example of actionable feedback for, Intuit. And she's talking about the modern reports, and, explaining the that in. In the modern reports, there's three, account filters, which is weird to go in and see that, to take a look at the, account she's using account and account details. And when she tried to filter for both of them, she ended up getting a blank report. But in in in, as she pointed out there in the classic view, it worked fine. So this is one of those things that Intuit needs to know these things. Because the way that the modern reports and the report filters tend to work is it's one of those things in the modern view that some of those filters are almost like three dimensional, right? And when you do search for and filter for some of them, it may be looking at the wrong side of the transaction, which in, results into that poor experience, right? But the sharing of the report is, this was a great feedback too. There's no There's no share with my firm right where I just want to share the firm now I don't know if they actually changed that just yet. Do you know matthew?

Matthew Fulton: 1:01:08

I've seen where you could build it in there. But you it is hard to get to some of the stuff and I probably should go to the post and try to answer, but one of the things I've noticed with from the classic view reports, the modern day modern view reports, if you're using QuickBooks online advanced, they're bad ass, it's amazing what you can do because you can get into deeper detail, the transaction line detail, and you can get information from that and make very complex reports. But if you're not using advanced, the modern view does have quite a few challenges, and they had I promise that before they were going to switch everything over, they were going to make sure all the other customized classic view ones would work going over. So I would suggest directly reaching out to support and getting a push to the right person on it. And when you're in the,

Dan DeLong: 1:01:59

And when you're in the modern view put the, feedback, and as, as actionable as you can, like this, is a great, example of being able to provide the actual feedback, but do that in the section that, If there is a provide feedback option on the screen that you're on, do that in there because that typically tends to go to the product managers or people who are really curious about the feedback of that particular feature. So I know modern, reports will have that. All right, so let's throw up the last poll question. We're coming in for a landing. We're a little bit over our time of the power hour. Appreciate you sticking around and. If you gotta go, you gotta go. I understand that. But it wasn't as information as usual. Exactly. Power and then some Matthew, any closing thoughts here?

Matthew Fulton: 1:03:06

Boy, I'm glad part of me is glad I didn't see that post earlier because my brain spinning on the reports and what you can do with it. I like those kind of challenges I always love, but they are rabbit holes to dive into and just get lost at times. Somebody

Dan DeLong: 1:03:21

was saying on on YouTube the post by that we just showed up there. It's so valuable. She always has the best, most thorough feedback. She's

Matthew Fulton: 1:03:32

She's on another level with her. She dives in so deep and finds these things. And that's a true talent. Some people would complain about that, but it's That's the nuanced stuff that we need to understand, how things will or will not work, because it's also the difference from desktop and enterprise desktop version to an online is, if you're used to doing it a certain way, how are we going to do it in the online environment if we can't even get the custom fields, dang it.

Dan DeLong: 1:03:59

Yeah, he's always stuck on that custom field, man.

Matthew Fulton: 1:04:05

All right. Yeah.

Dan DeLong: 1:04:08

So next time on the QB power hour, we are going to have Mike Mylon joining us who will be talking about his, his he was showing me this this new feature that he has in, his, his application called a, client conversation starter. So as we're trying to have these valuable client conversations, a lot of us. Don't know what to say or how, to start that conversation. And this is like a guided guided resource. So look forward to having him on in a couple of weeks. And hopefully guys,

Matthew Fulton: 1:04:47

you don't want to miss it. I'm telling you, he's super funny. Yeah.

Dan DeLong: 1:04:52

He's also a cheese fan. So hopefully I'll be able to rub in the Eagles victory next time when we see him on the next power hour, we appreciate you joining us here today. And we'll see you next time on the power hour. Thank you again.