Podcast WSW - Intuit Enterprise Suite
===
[00:00:00] [00:00:30]
[00:00:38] Introduction to Workshop Wednesday
---
[00:00:38] Dan DeLong: Welcome everybody to another Workshop Wednesday brought to you by schoolbookkeeping. com where it's allowing you to be the best bookkeeper you can be because we have serious conversations, casual conversations.
[00:00:54] Rachel Dauchy: Casual conversations.
[00:00:57] Dan DeLong: So we're here casually talking with [00:01:00] Rachel who just came back from Appy Camp What was that? How was that experience for you?
[00:01:05] Rachel Dauchy: It was amazing. It was so wonderful, and it was even better because of the location that they chose, which was in, Tubac? Tubac? Tubac? I don't know how you pronounce it.
You said it
[00:01:19] Dan DeLong: right, Tubac.
[00:01:20] Rachel Dauchy: South of Tucson, and it was beautiful weather, beautiful resort, so tranquil. It was amazing.
[00:01:29] Dan DeLong: Yeah, and the [00:01:30] Fun fact, that's the first place that that Rachel and I met each other. So
[00:01:34] Rachel Dauchy: two years ago, Virginia.
[00:01:42] Dan DeLong: And here we are co hosting the workshop together.
[00:01:47] Recap of Recent Events and Challenges
---
[00:01:47] Dan DeLong: So today we're going to talk about we're going to unpack a first look at the new Intuit enterprise suite. So we'll, talk a little bit about that, but we wanted to Recap [00:02:00] some of the things that we had announced last week with with Shawn from Katana was on us on.
We we talked about some of the challenges that are going on inside of School of Bookkeeping's community. And so we wanted to recap those because we We want to encourage a community and an engagement in the school bookkeeping community and some of those things involve a small challenge with [00:02:30] Designed to be like a fun thing to do outside of the social the umbrella of social media which is quite toxic.
I think, especially, this this year with everything that's going on. We have a couple of things that are happening in there, which is we have a bookkeeping bingo challenge, which you you opt in, you [00:03:00] join the challenge and you're able to get a bingo card.
It's randomly associated with a bingo or I'm sorry, bookkeeping tasks. And you make a bingo, you upload it in there and and you can get some school bookkeeping swag out of the deal. It's a little fun, fun thing to do. It's going on for a month, and we have, I'm looking for the QR code there, so I'm going to put that up there in the upper corner.
You can take out your phone, scan [00:03:30] it get you to the right place to join the challenge in our community. You just need to be a member of School of Bookkeeping to participate, and there's free options. opt in for just some free free ways to, to navigate around inside a school of bookkeeping and the community is one of them.
And then we also have
[00:03:50] Rachel Dauchy: Regardless, I would do it with not Yeah,
[00:03:55] Dan DeLong: exactly. And then another challenge we have there is sharing the workshop [00:04:00] because we want to make sure that people are, of, the, that we do this workshop every, week. There you go. Yes. You, are in the lead, of the challenge.
So you can pop in there, share the workshop with your with your social media of choice and and just let us know what what that is. And then we'll you'll get some points and then, [00:04:30] We'll, share some some winnings there or some swag and those types of things.
So those couple of things are in there. Just just getting, giving you, some, something else to do inside of the community. Yeah, there is a mobile app that you can download. It keeps you completely outside of the the going into the website or [00:05:00] needing to access through social media channels or anything like that, you can download the, Kajabi Communities website, or I'm sorry the, mobile app, and then see the, challenges, make your posts directly from your mobile device, which is a lot easier to do, like screenshots and things like that on, on, the mobile device, as opposed to going in through the website.
But that's that.
[00:05:23] Exploring the New Intuit Enterprise Suite
---
[00:05:23] Dan DeLong: So big news lately is there is this Intuit [00:05:30] enterprise suite. So we want to unpack that. I've, created a couple blog articles. I'm just going to post that here as a QR code. You can take a look take a look at those. I did put them in the, comments as well.
So you can Click on that and review and let us know what you think about, into an enterprise suite. So we want to unpack a little bit about what this is and bucket it into three [00:06:00] categories. What we know, what we don't know and what we're speculating.
[00:06:07] Rachel Dauchy: Dan and I, we've been having some conversations about that kind of thing and trying to hunt down a few different things. And I asked you about inventory. How many times?
[00:06:17] Dan DeLong: Yeah what does it do with so yesterday in the, QuickBooks solution provider channel, they unlock, they unleashed a whole bunch of, collateral [00:06:30] and assets, marketing those types of things.
And one of them is like a side by side comparison between Intuit Enterprise Suite QuickBooks Online Advanced and QuickBooks Enterprise Desktop software. And that's the first thing that we want to, unpack that this, because it says Enterprise and there is a QuickBooks Enterprise and now there's this Intuit Enterprise Suite.
But all of this stuff is on purpose, right? So [00:07:00] they're, deliberate.
[00:07:01] Rachel Dauchy: Because it's a little confusing because a lot of people that it's the exact same capability, but now in a cloud based solution. And I don't even know what they're using the same word.
[00:07:14] Dan DeLong: Yeah.
[00:07:15] Understanding Intuit's Branding Strategy
---
[00:07:15] Dan DeLong: First, first thing is, Intuit as opposed to QuickBooks, right?
And this, is something that is very deliberate on Intuit's part, right? I working there for 18 plus 18 years or so. [00:07:30] They always had a branding problem with the name of their company. When I first started there we were rejoicing when they off of QuickBooks when they removed from the makers of Quicken, off of the QuickBooks thing getting out from underneath the Quicken umbrella, which is what.
Which is the whole software that started Intuit to begin with, right? So to get away from from underneath that was a rejoice, but [00:08:00] they've been struggling with the whole Intuit QuickBooks, Intuit MailChimp, Intuit Credit Karma the putting the name of Intuit and and that is and we're seeing this now and not just with this, but also Intuit Dome, right?
Like they've, their big sponsor naming rights and all that with the L. A. Clippers, stadium, new stadium that yeah. Oh my gosh, we're really getting [00:08:30]
[00:08:30] Rachel Dauchy: into it. They're not
[00:08:30] Dan DeLong: calling, they're not calling it, QuickBooks Dome, they're not calling it MailChimp. It's Intuit Dome, right?
So they're, being very specific about that. And now coming, up at the end of the month is Intuit Connect not QuickBooks Connect, which was originally named, this is now Intuit Connect. So they're being very specific that this is. Putting their name first. Yeah,
[00:08:59] Rachel Dauchy: [00:09:00] and I almost wonder, Dan, if it's because Intuit is the public company and Intuit is the one that you buy stock in and Intuit is the one that, is the, significant name that people need to know.
[00:09:16] Dan DeLong: When you look, at Intuit there's basically four major products that, that Intuit. Does and divisions that, that in that Intuit handles, right? There's, QuickBooks for small business [00:09:30] there's TurboTax for, tax preparation, and they have a professional tax, suite of services, a lacer and ProSeries and ProConnect Tax online, and those types of things for, tax preparers as well.
And then MailChimp, which is a recent acquisition and credit Karma, which was a. Prior acquisition as well. So you've got the personal aspect of credit karma. You've got the tax [00:10:00] preparation division and those types of things with small business division with quickbooks and then you've got MailChimp, which is new customer acquisition which kind of can spread across multiple things so The fact that they're calling this a suite is on purpose as well or deliberate as well, because you look at their, website it's powered by QuickBooks plus MailChimp, right?
They [00:10:30] can't call it QuickBooks Enterprise Suite simply because there's two things that they're Combining,
Into,
this thing as well. And I can see a play for the future, right? Where this is across all of that Intuit ecosystem, because what does Credit Karma do?
They, help people, and encourage people to, [00:11:00] opt into other things that help them with their credit, right? So now that they have that, that data they, offer advertisements to other things that, that could potentially help with their credit, right? So the personal finance types of things they, got rid of mint and rolled it into credit karma, those types of things.
This could be a, larger play. And, then [00:11:30] last year does Mint,
[00:11:31] Rachel Dauchy: sorry to interrupt you, but does Mint have the same I'm sorry. Does Credit Karma have the same capability as Mint? Because I was a Mint user for years and years Yeah. In that connect your accounts and it feeds in your data.
Cool.
[00:11:45] Dan DeLong: Yeah. It the, idea there, it's not as it's not as. transactional as as, Mint or Quicken used to be, I moved myself over from Mint to Credit Karma. And that was the [00:12:00] last I, played around with it, so I, see that. And then last year with the QuickBooks business tax return powered by TurboTax their service, their full service.
I can see that being a part of this whole suite, right? And it makes sense now that we're, they're calling it Intuit Enterprise Suite as opposed to [00:12:30] QuickBooks, and that's part of the, I think the biggest challenge that people have when it comes to understanding what this actually, is that Ozzie?
Is Ozzie barking? He, has something to say about the the, news that we're talking about. So there's that whole, thing where It is [00:13:00] definitely, Intuit, the whole Intuit ecosystem, and then it's potentially be a suite of of of services for that. We have let me just quickly share my screen here, and we'll hopefully She'll come back.
So we have the, first look and I did put it on an initial thoughts prior to understanding, or, [00:13:30] attending the webinar that they had last Thursday about. What this Intuit Enterprise Suite actually is, but this first look is, a, an idea and understanding what this is post that, that webinar, right?
In a nutshell, I'm going to mute you. Because, if you have something to say, go ahead and unmute yourself. [00:14:00] So in a nutshell, and I had Intuit on the QuickBooks Power Hour, and they shared this this, graphic here, and this kind of encapsulates the trajectory of, QuickBooks where, you know, Brad Smith when he was a CEO he, made a, He made a claim and not necessarily claim, but he, gave a vision that QuickBooks would be the ecosystem for small business and QuickBooks online, [00:14:30] is, one of those things.
And, this kind of encapsulates how they were, envisioning to do that, right? So you have QuickBooks in the middle as the, hub of the wheel, so to speak. And then you have deeply integrated services that that Intuit offers. So QuickBooks payments, QuickBooks payroll, now QuickBooks bill pay the capital for, short term loans, and now MailChimp.
Those are the [00:15:00] deeply integrated QuickBooks services that you can connect to a QuickBooks Online company subscription. And then you have, for everything else, there's this app ecosystem of over 500, I don't know, it's probably thousands now of apps that, quote unquote, work with QuickBook, right?
The devil's always in the details of how that actually shows up, but that was their [00:15:30] vision initially, right? What has happened throughout all of this is that people have these, this disjointed Frankenstein of, applications that may or may not work well with others, right? Playing in the sandbox With with QuickBooks, right?
So if you have your payroll outside of QuickBooks, getting that information into QuickBooks may not give you the best solution or the, [00:16:00] best result of that if you had your payroll deeply integrated into QuickBooks with using QuickBooks Pay QuickBooks Payroll directly in there. There's some advantages of, having or of opting into those QuickBooks services.
QuickBooks Payments, once you send it you send a transaction, it then, does everything after that for you, right? The payment gets recorded, the fees get recorded [00:16:30] the, transaction gets matched into your bank download and reconcile pre reconcile.
[00:16:37] Rachel Dauchy: This is one that they got right.
Love QuickBooks payments.
[00:16:42] Dan DeLong: Definitely good good, service. However, if they're holding up your funds, like yesterday, because because of the things that are happening there, that, that does soil, So the situation, when [00:17:00] you when you have funds being delayed or transactions being declined and those types of things for recurring because of some of the transactions are transitions that they're going through.
So that's their vision, to be the, hub or the the, ecosystem of, small business. But the reality sometimes is a little bit different than that. At first glance, you're going to look at or going to see the Intuit Enterprise [00:17:30] Suite and you see the screenshot here. This looks just like QuickBooks Online.
That's what's powering underneath QuickBooks, or I'm sorry, Intuit Enterprise Suite is QuickBooks Online, right? Because it is now making that transition. into, consolidating all of these disjointed services in one place. You're going to [00:18:00] see, Things that look very familiar, right?
And, if we turn if we compare this to, QuickBooks desktop you have that pro premier, but then you have QuickBooks desktop enterprise, which looks and feels much like QuickBooks desktop pro and premier, and to help with those people who are outgrowing those levels of QuickBooks desktop and needing something a little bit more.
Robust. [00:18:30] And same, so the same strategy or logic is, occurring with regards to that. So the people that are outgrowing and needing a little bit more of what QuickBooks Online offers, that's where Intuit Enterprise Suite is going to come in very nicely because They're not going to need to relearn a whole bunch of stuff because the navigation is, something that's already familiar with them.[00:19:00]
[00:19:00] Rachel Dauchy: I love that, by the way. I love that it's got the same navigation.
[00:19:05] Dan DeLong: And you've got some new menus much like when you upgrade from, plus to advanced, you get some new menu options and options on the, left side.
[00:19:17] Rachel Dauchy: But it's not unfamiliar.
[00:19:19] Dan DeLong: Yeah. What it's not familiar for is somebody who's coming from QuickBooks Desktop Enterprise and going into Intuit [00:19:30] Enterprise.
So that middle word of enterprise, when they're on the desktop as opposed to the online, that enterprise is not an equal one to one relationship. So you have, there's, all sorts of things there when it involves that, that term, and you mentioned it earlier, Rachel, it's that, Hey, is this enterprise?
Why [00:20:00] did they choose a different, why didn't they choose a different term? Why cause now there's that confusion between is this. Exactly the functionality that I get in an enterprise desktop in QuickBooks or into an enterprise suite. No, you don't, right? So because it's based on that foundation of, QuickBooks online, that's where you're coming from.
So that's your framework.
[00:20:28] Rachel Dauchy: You are such [00:20:30] an expert. I have, even since when I first started using QuickBooks, I've, there's a lot of confusion, and I see this as the pattern of still confusing. I don't know why they don't, really separate things. I understand the logic behind it and when you say it, it makes perfect sense.
I'm just saying there's just been so much that [00:21:00] has been so unclear and confusing that I really don't like this name. Oh, I was gonna say Dan also Susan is asking something.
[00:21:09] Dan DeLong: Yes.
[00:21:10] Rachel Dauchy: Yeah,
[00:21:10] Dan DeLong: I was gonna, I was just about to show that up there. Workplace or T sheets. Is it part of a suite? Yes, it's part of the suite because it's part of the payroll, right?
We, saw that in the last month or so where T sheets or QuickBooks time, workplace, [00:21:30] whatever they're calling it now the standalone option of purchasing QuickBooks time has been discontinued. So in, in, reality, QuickBooks time is essentially under the umbrella of QuickBooks online payroll, right?
So if you want QuickBooks time, you are going to need to opt into the QuickBooks payroll, right? And that's the advantage, right? Or [00:22:00] the promise here is that By having all of these things under, one umbrella, you're gonna have a better end-to-end solu, experience because, Intuit owns the, end, the whole end-to-end solution, right?
So if you're using QuickBooks Payments with QuickBooks Bill Pay with QuickBooks payroll with QuickBooks online that's suite. You're going to have a better end to end option. [00:22:30] That is the, goal. Or the promise. The reality remains to be seen on how that plays out.
What does it do?
[00:22:44] Features and Benefits of Intuit Enterprise Suite
---
[00:22:44] Dan DeLong: So there's three major things that, quick Intuit Enterprise Suite is, introducing that is going to be enticing for for, people to look into, right? One is multiple entities. [00:23:00] So the whole model of QuickBooks online is one entity, one subscription, right?
So you can have the same the same user have access to multiple entities, but you're, it, involves switching companies, right? So you have to click on the gear, go to switch company and go into that other company. And those are completely. Disconnected, right? So they don't have a connection between those two.
So multiple [00:23:30] entity, multi entity allows people those larger organizations that have multiple entities to be able to switch between them without logging out, logging back in. And there'll be a dashboard inside of enterprise suite that allows them to do things like intercompany transfers.
Between those, entities, the rejoicing from Rachel. [00:24:00]
[00:24:00] Rachel Dauchy: Oh, I'm telling you, you do a lot of that and that is such a pain.
[00:24:05] Dan DeLong: Yeah. The way they were showing it in, the demonstration is that when you do have multiple entities and and you are creating an intercompany transfer, you'll be able to select that this is for an allocation type of thing.
And then it will add another column called company, and then you'll just be able to choose right there on the journal entry, what company [00:24:30] gets allocated, what. What amount so if you're doing rent right the parent company is paying rent for all of the subsidiaries of the franchise or what have You'll be able to Allocate that right there on the screen because you'll have a company column to be able to choose that with Which will you know streamline that whole process In addition to that they're introducing To come along with the multiple entity [00:25:00] is this idea of dimensions, which will be another column and another field that you'll be able to allocate the dimension.
So think of it like class and location and tags had a baby, right? So, this is just another, Field that you're able to specify. You can have up to 20 of them, to allow for another dimension. No pun [00:25:30] intended of reporting. So you'll be able to use class and location and tags in conjunction with this filtering in this dimension.
So that's that's, a new thing that, that's coming in there. And then the long awaited for change orders. This is one thing that, that QuickBooks online never did, was, [00:26:00] do change orders well. So we have A separate transaction type called a change order, that will actually be, independent of an estimate, right?
This is, something that I, appreciated over top of what, how change orders are handled in, desktop. Desktop, you have to modify the original estimate, and then the change that you made shows up as a, [00:26:30] text blurb on the original estimate, and then you have to send that off for approval, right?
Where change orders in into an enterprise suite are a separate, totally separate transaction, still non posting just like a, just like an estimate, but that allows for independent. Approval of just that change order, and when they approve it, assuming that they do this online they'll approve it online, and then that will go back automatically and update the original estimate.[00:27:00]
So you'll see two separate things, one for a change order, one for an estimate, and when they approve it, it will update the original estimate and you, can use that as the, Blueprint for, your invoicing going from there. So those those three are, those are the three major, major areas or functionality introductions that are being made specifically to Intuit Enterprise Suite.
Along, along with all of that comes [00:27:30] some, A reporting package. So you'll have seven brand new reports, committed costs the change orders re report, project status report project costs by vendor and projects. So now we have this. Can I
[00:27:47] Rachel Dauchy: ask you if you had any more info about projects?
[00:27:50] Dan DeLong: Yeah. And then project cost details and unpaid bills by vendor and project and time by employee and project.
So you're, getting a little, a lot [00:28:00] more. In depth reporting that you're that, all the naysayers of QuickBooks online doesn't do job costing is being addressed by this, by these by this reporting package now. Does it make sense to do Intuit Enterprise Suite if all you need are these reports?
Probably not.
[00:28:25] Pricing and User Access Details
---
[00:28:25] Dan DeLong: Because the, first question, especially that a lot of [00:28:30] accountants and bookkeepers and independent practitioners are going to ask is how much does this cost? Because, that's what you want to know first is whether or not the juice is worth the squeeze when it comes to, when it comes to is this, worth it?
That, that remains to be seen. So this is the way I explained with the price the way I envisioned the whole pricing of this, is, [00:29:00] this is not if you're looking, if you're looking to go to Intuit's website and see what the price is and order it, that's not the way this is being positioned at first.
It's the same thing as if you wanted to go to ADP's website and find out how much payroll is, they're not going to tell you on their website, right? They need to have a conversation first to one, because there's there's, three factors that are going to determine [00:29:30] the price, right?
Like how many entities you have, right? Because Intuit Enterprise Suite comes with a base of two, right? So you're going to have that parent child relationship, right? Two is the number of users that you need in the Intuit Enterprise Suite. It comes with a base of ten two super users and ten standard users.
So I don't know if that's twelve or if it's a total of ten. So there's a user, package. You can have up to [00:30:00] 500 users in the Intuit Enterprise suite, and those can be given granular access to all of the different entities. So that's one thing that they're going to need to have a conversation about.
Who needs to do what, right? Inside of your QuickBooks. How many users would that be? And then that's going to have a price tag associated with it. So the number of entities, the number of users. And then the number of [00:30:30] services, right? So if you're. Open to switching your payroll service to QuickBooks Online Elite, which is, that's what's powering, the payroll service underneath, underneath that.
QuickBooks Payments and QuickBooks Bill Pay, right? That allows them to be a little bit more, Negotiative when it comes to what the price actually is. Now, I was sent, [00:31:00] actually this morning a report from from an independent research company called Cleveland Research that attended into it.
Into its investor day, and they provided me a little bit of a insight into what they were told based off of the promise of what's coming. So into an enterprise suite. They are the early adopters are paying about 20, [00:31:30] 000 a year for, those that are have opted into the enterprise suite.
The Intuit enterprise suite ecosystem. So
[00:31:40] Rachel Dauchy: is that for her client or is that for my QB away?
[00:31:48] Dan DeLong: That is for the suite, right? So this, ends up being a a, a. a packaged contract when it all boils down to, cause [00:32:00] they're going to have, a qualifying discovery. They're going to have a, a sales conversation.
There's going to be demos demonstration. So this is a long sales, process, to even get to the point of how much does this cost?
[00:32:18] Rachel Dauchy: Because I'm saying this is for my use. For my, firm, not, I'm not getting this for each of my [00:32:30] clients, correct.
[00:32:32] Dan DeLong: This is for, not, for you as a firm owner.
This is for whoever client, whatever client is, opting into this this enterprise suite package, much if you have. That's
[00:32:46] Rachel Dauchy: what I'm asking. So, in my QBOA, if I go to. This client that is opted into this when I go in there in my QBOA this will pop up. [00:33:00]
[00:33:01] Dan DeLong: Yeah
it'll be if I have another
[00:33:02] Rachel Dauchy: client that doesn't have it when I toggle back to that client It's just going to be QB plus or whatever.
[00:33:09] Dan DeLong: Yeah, exactly Same way that you have it today, right? You have a client that's on advanced. You have a client that's on Simple start, you have a client that's on. Plus, you experience the feature set of that, client's subscription. Got it. In the way [00:33:30] that I'm, starting to, see is this is actually very similar to what you, experience as an accountant in QBOA QuickBooks Online Accountant.
Yeah. You, get some of those the same familiar functionalities when you are in a in a in the Intuit enterprise suite ecosystem. So you can you can invite as a firm owner, you can invite a team member and you can, and [00:34:00] then they dovetail off of your, Into your accountant invitation to access your, clients, right?
So you can have unlimited team members in your, firm. So they're using that kind of same technol under, underlying technology to allow those users to be able to have that access to the various entities. So They're just going to be setting up a parent child relationship between those [00:34:30] entities when they initial they initially have that conversation of, okay, we have this parent, organization and then multiple entities under, underneath that.
So they'll be they'll be having access or user access to the, the. multiple entity aspect of it. And then inside of that, they'll be able to grant various access to those, entities, or let's say whether you have a, bill payment [00:35:00] clerk, we're all the AP clerk that's, doing accounts payable, and then you, can grant them access to those companies that they need to have access to you and then not have access to companies that don't.
Don't do the accounts payable process. So you're able to provide access, not just on an entity level, but also within what they can do within each of those companies, [00:35:30] which is something that I've been seeing evolving as, as we get closer to this launch. That's the whole user aspect is sounding very familiar to what, we see with with QBOA and, team access.
But in this case, those users as you can have unlimited users in QBOA, you can't have unlimited users [00:36:00] in, the enterprise suite. You can have up to 500, right? So that way you're, not like okay. If one entity has advanced, the advanced functionality, and another entity has plus functionality, because maybe I don't need that, or maybe I have simple start functionality of one of my entities.
It's just a, what do you call it? I can't think of the word Maybe it's just a shell company for, [00:36:30] the building. There we go. So if you had a building and you had a shell entity for that, obviously you don't need all the bells and whistles of enterprise or advanced for that, you maybe just have a simple start option, but then you have.
A crew of, 25 let's just say 30 people that need access to that company to be able to do that. This [00:37:00] allows you to be able to do that because simple start, you only have one user, but in reality you can have these multi entity users have access to that company to do whatever it is that they, need to do.
So that's getting away from the subscription of simple start only has one user or or it has only these features. That's allowing multiple users to access a simple start company, right? So that's [00:37:30] one of the Options or availabilities, in this whole suite. So that is Oh, go ahead.
Sorry. I didn't see your hand raising.
[00:37:43] Rachel Dauchy: Okay. So for accountants, are we, if I can sell this to my client, are we getting revenue share?
[00:37:55] Dan DeLong: Yes, you're not going to sell it though. So Intuit has made [00:38:00] it very clear that especially that first year The whole sales process is going to be owned by them, right?
So So at this point The best you can do is refer You know refer a company into this, process, and Intuit owns the entire sales process from start to finish, and if when it comes down to, okay, they've they've signed [00:38:30] the contract and they're, ready to get started, that's when you would get your your referral bounty or whatever it is that they're offering.
They have made, the roadmap is Hey, probably in a year or so. Okay. We'll have enough learnings from this whole process to introduce other outside, Outside of outside of Intuit to be able to assist in either the [00:39:00] implementation of Intuit Enterprise Suite or additional services that are outside of the umbrella.
Let's say they're an e commerce seller and they say, hey, I need some help choosing a sales connector to multiple of these, Hey, we need Rachel to be able to do that. So that, that, that is probably not going to occur until a year from now before that it gets to that, [00:39:30] if it even does.
Like they could potentially be like, Oh yeah we bought another company to help these things who knows what that year is going to because they're, Their focus is especially this this first go round is, the, those that are in the contracting professional services space that need this, sort of [00:40:00] thing, right?
That doesn't mean that this is the be all and end all of, the feature set. This is laying the foundation for those other industry verticals to be able to be added on into this. And of course, this is gonna take a. Take a turn, as, they, they learn and launch, which is a common, thing they launch and learn,
[00:40:25] Rachel Dauchy: you don't think it's just going to be perfection rolling out the very first time, but no, [00:40:30] we, so we, for now if I, Get a client that's got multiple entities and is asking about consolidation and something like that I can Suggest they've recently rolled this out.
I can refer them to intuit to explain
[00:40:52] Dan DeLong: If you are connected with a QuickBooks solution provider they'll, provide the way to be able to do that. If you are not, and [00:41:00] you are enrolled in the ProAdvisor Revenue Share Program, there will be a way to submit the referral that way.
But that's really all you're going to be involved with as an accounting professional, this go around right after this launch, because it makes sense. They need to learn, what people are asking and those types of things. They have a very strong sales organization. [00:41:30] My wife was one of them for 10 years.
It's, definitely a, a, they want to be in control of all this especially the, first, at first launch. Now, I understand bookkeepers and accounting professionals, they want to consume it first before you even, entertain talking about this with the with their, with your client, right?
Just bear in mind [00:42:00] that whole matrix of the number of users it's just not a cookie cutter matrix where you could just say, why this many users, this many subscriptions, this many services,
And choose it off the menu, because I, because most of my analogies revolve around food, which if you saw my dad bod, you would know,
But, the this [00:42:30] is really, a buffet as opposed to a menu when you go to, when you go to a restaurant and the value is in the buffet. And you can get a lot of value if you sit, sat there for four hours and just continue to graze off the buffet. As opposed to, okay, I just want my crab, crab puffs.[00:43:00]
And there's a price for that, right? On the buffet, there's a crab puff station. And it's not as fresh as, it coming straight off the menu. I think a similar, scenario when it comes to evaluating this QuickBooks online subscription versus a, the Intuit Enterprise Suite.
[00:43:25] Rachel Dauchy: Yeah, I'm actually probably gonna [00:43:30] let them work some things out for a little while and probably not get super involved in that right now because one, I can't learn anything new right now. And two, I'm, I don't really have anybody that you know, I feel would be That I would give up what i'm using right now For this at this point, so i'm probably just gonna let them work it out a little bit longer
[00:43:57] Dan DeLong: Yeah, I think time will tell as [00:44:00] a point Sail this ship in the various direction, you know navigate the seas And but you will you know if you have a client Or you come across a client that is using Intuit Enterprise Suite, you can be invited as an accountant, just like you can with all the other flavors of QuickBooks Online, it will show up in your dashboard and then you just access it just like any other accountant user, [00:44:30] you will just Experience the, the feature set that will be built in.
So you'll see those dimensions. You'll see you'll see change orders. You'll see the reports that will be available to those particular users. But what it's not, QuickBooks Enterprise. In the cloud.
[00:44:50] Rachel Dauchy: That's what people are going to
[00:44:56] Dan DeLong: jump
[00:44:58] Rachel Dauchy: to
that [00:45:00] conclusion. I'm, saying it. I'm calling it right now.
[00:45:03] Dan DeLong: Oh yeah, it's a the word advanced has been overused. Descriptions that start with the letter P, have been overused on the on the Intuit, ecosystem of services.
[00:45:20] AI Integration and Future Prospects
---
[00:45:20] Dan DeLong: One other thing that we wanted to, that I wanted to chat about with, This whole idea of, Intuit Enterprise Suite is AI, [00:45:30] right?
So this is going to allow them when you are when you're under the umbrella of everything Intuit, the, Intuit assist the generative AI model that, the, rolling out, this is going to allow that to do a lot more. And and that's where things are going to be really exciting.
For some of those companies, when when they're [00:46:00] able to, do some things automatically that you can't do in QuickBooks desktop, or you can't do inside of your, your QuickBooks, just, imagining, right? You have a MailChimp subscription, and you have your QuickBooks subscription.
Subscriptions, in this case, because it's multiple entities, they'll be able to evaluate trends, [00:46:30] and, purchasing trends across all of those entities.
[00:46:34] Rachel Dauchy: Oh, cool. And
[00:46:35] Dan DeLong: then AI is then going to come in and be able to write, the, a, pretty good copy a compelling copy because they have all of that data to be able to evaluate that not just with your company, but all of the other MailChimp users.
Benchmarks.
[00:46:55] Rachel Dauchy: And if you're somebody that works in, let's say, legal, and that's all you do, [00:47:00] then, and all your customers are that, then you can create some really cool benchmarking.
[00:47:07] Dan DeLong: And so, that is where this is going to excel potentially accelerate, a business in that, fits the needs for this is whole across the ecosystem and, in that, suite of services, because you're not going to get that when you have QuickBooks [00:47:30] online plus with.
Shopify and Webgility and a Frankenstein of, Of, applications that don't talk to each other and I know,
[00:47:44] Rachel Dauchy: but I just got that stuff perfected.
I'm not ready to move on yet. No, I'm just kidding. I know I can't, I'm telling you like I learned something so cool about AI every single day.
I learned a [00:48:00] new trick, a new feature, a new something every single day. I use it every day. I'm sure you do too.
[00:48:06] Dan DeLong: And there's, going to be a new term that you that you're going to hear about along, along with this Intuit enterprise suite about AI powered humans. So I, don't know how this is going to play out, but they're basically they're.
The people that are going to be [00:48:30] connected to this whole project and they're going to, you're going to have a customer success manager and implementation specialist so if you are coming from desktop and those types of things, you're going to be assigned, they're, again, they're going to help, own the whole process of getting it done.
activated and implemented and set up, and then you're going to have this whole idea of what they can do with their AI tool [00:49:00] to help you, right? People with machines are, and technology are going to be involved in, in, in this especially in the next 12 months.
[00:49:11] Rachel Dauchy: Yeah, that's really important because not everybody can just hop on YouTube and teach themselves everything.
That's the way I do it, but. Not that's not conducive to everybody. Some people learn with their handholding or somebody helps them step by step or they just have somebody to talk to, [00:49:30] you know what I mean? But that's absolutely necessary because the people that are faster to adapt to AI and know how to use it as a effective tool are the ones that are going to be the most successful.
Using the software and in our industry by far
[00:49:53] Dan DeLong: and I can foresee, right? This could be the [00:50:00] this could be the closed door, right? Of if you refer somebody to this, You could potentially be out of a client when it, comes down to all of that, because Intuit has, decided that they've, they're owning the entire, the end-to-end process.
Because there's things that you, don't have insight into as a as, a, but no, I don't know
[00:50:24] Rachel Dauchy: about that because they don't have their live bookkeepers can't [00:50:30] do the bookkeeping of this with consolidated reporting and all this kind of stuff, especially if they're. Policy right now is they just they don't touch anything.
They just look at the screen and kind of point you around
[00:50:45] Dan DeLong: That's that's quickbooks live assisted. Oh live assisted.
[00:50:48] Rachel Dauchy: Okay, so no, I know what you're saying because yeah, my employee alissa was actually working for the That we're doing the bookkeeping, but [00:51:00] they, but she said they turn away so much.
I don't think they're ready yet
[00:51:05] Dan DeLong: They're certainly not The full service bookkeeping is definitely, more of the simple Aspect and of course, this is a huge leap
[00:51:24] Rachel Dauchy: And, not only that, that like one thing I learned at Abbey camp is they're retooling all [00:51:30] this training and basically what they're doing is they're cutting down the amount of hours to train these users. And it's ouch, I can't imagine cutting down from, 32 to 16 hours to eight hours only.
I just. For me, it's like way too complex. I, really don't understand that thinking but, I also think that, I don't know. I just don't see, unless they're [00:52:00] hiring really complex cost accounts. I don't know.
[00:52:07] Dan DeLong: Here's here's the, thing, if you are, invite, embracing the entire Intuit ecosystem and there's functionality that's going to be automated because you've done so, is the whole idea of, somebody who's on QuickBooks online [00:52:30] sends you a, an invoice to somebody that's on Intuit enterprise suite, They accept it. That automatically creates the bill for them to be able to pay that and then they can automatically schedule. So there, there's no training, involved in that whole process.
Yeah, that's a
[00:52:47] Rachel Dauchy: really good point. For the, yes, for the modules inside QuickBooks and the, and, Yeah I see what you're saying. I, [00:53:00] okay. Yeah.
For somebody like me, I feel like I'm always putting out fires and there's always some problem and this didn't sink and this didn't go and da, I, have a hard time imagining it. Error free, driven by AI. I just can't imagine that right now.
[00:53:25] Dan DeLong: There will, all, there will always be a [00:53:30] place and I thought the same thing every time that they would release a new, feature or functions oh my god, this is making it so much easier.
Who are we going to be talking to? Because there's not there's, no, no problems. There's plenty of, there's an ocean of people that still, that will still need assistance and help. Yeah.
[00:53:51] Rachel Dauchy: And we're facilitators at the end of the day. Software facilitators. Automation facilitators that I just don't [00:54:00] think that the need for that is ever going to go away.
And we understand the accounting behind it. And so that's just so necessary. And I think of it like this when they created gadgets. To help people speed up their time or whatever, then we just replaced it with other stuff. When we got these smartphones that we're supposed to streamline everything, then now we're busier than ever.
So I just I'm applying that kind of logic to it. You know what I mean? I just feel like [00:54:30] it's going to create a whole new need, and auxiliary industry for understanding the AI creating custom. whatever just facilitating and assisting with, systems. That's always going to be needed.
[00:54:50] Dan DeLong: Yeah. You, whatever your thought about self checkout at Walmart or the grocery store, [00:55:00] it just allows for more capacity, right? So There's six registers that people can scan their stuff. And then there's one person meaning, the blinking lights, right?
You
[00:55:15] Rachel Dauchy: set, you don't set your one item in the, on the way. And all of a sudden, it's beep, get supervisor. And I'm like, Oh my God.
[00:55:24] Dan DeLong: Oh, you're trying to buy alcohol. Okay. We need to call somebody over, do those types of things. So [00:55:30] that that's what, We'll be involved to do is as, as a professional is you'll be that person at the, self-checkout, Yeah.
Responding to blinking lights.
[00:55:41] Rachel Dauchy: Yeah.
[00:55:42] Dan DeLong: As opposed to weighing
[00:55:45] Rachel Dauchy: Yeah.
[00:55:45] Dan DeLong: The
[00:55:46] Rachel Dauchy: Yeah, Weighing the banana wouldn't see I'll be the target lady that's standing there in my red vest, , like looking at look, swiping my thing and saying, okay, ,
[00:55:57] Dan DeLong: ooh, I like these. [00:56:00]
[00:56:00] Rachel Dauchy: I haven't tried these yet. Are these good?
[00:56:04] Dan DeLong: Exactly. So it's just another evolution of, how this, technology is going to affect people in the accounting and bookkeeping industry. Remains to be seen how this all plays out. But it's been launched and We'll, see how it goes as time tells.[00:56:30]
[00:56:30] Conclusion and Upcoming Topics
---
[00:56:30] Dan DeLong: Appreciate you joining us for in, in depth, no. Introductory.
[00:56:37] Rachel Dauchy: I couldn't be here last week cause I love talking about inventory. Oh man.
[00:56:43] Dan DeLong: But we will have Shawn joining us next week. We'll be talking with Katana. We're going to be comparing, right? So to answer your question that you've asked me, yes, it will do inventory an Intuit enterprise suite, assuming that they have the [00:57:00] flavors of those entities that do.
There's no enhanced, an inventory functionality
[00:57:08] Rachel Dauchy: like for you still can't do manufacturing, it's really just for buying and reselling goods.
[00:57:14] Dan DeLong: Yeah, so we'll be talking with with Shawn from Katana. We'll be going to the next, side by side comparison of advanced inventory in QuickBooks Enterprise compared to a cloud based solution like Katana and we'll be talking about [00:57:30] batch.
Lot tracking and, serial number tracking. The, traceability aspect of the functionalities in QuickBooks enterprise platinum edition versus something that's cloud based. And hope you can join us for that have a great week, everybody. We'll see you next time. [00:58:00] [00:58:30] [00:59:00]
