In a move to ensure even fledgling businesses can access top-tier financial tools, QuickBooks Money will not require a subscription. This significant departure from the standard fee structures common to many business tools means even micro-businesses can maintain top-notch financial health from the get-go.
This revolutionary tool isn’t simply a response to market demand; it’s an evolution. Stemming from its 2021 mobile app, Money by QuickBooks, the renewed QuickBooks Money has been enhanced based on feedback from its early users. Now, it promises an enriched web experience tailored to small businesses’ distinct needs, making money management more intuitive and integrated.
Key features stand out for businesses seeking efficient financial operations:
- Multiple Payment Methods: Entrepreneurs can easily send invoices or payment requests, offering their customers a plethora of payment options, from standard credit or debit and ACH bank transfers to modern methods like Apple Pay and Google Pay.
- Swift Access to Funds: Gone are the days of prolonged waiting. Eligible payments will be reflected in bank accounts on the same day, even on weekends and holidays.
- High-Yield Savings: The envelope feature within QuickBooks Money offers a lucrative 1.75% APY on saved funds — an impressive 25 times the national average.
- Enhanced FDIC Insurance: Businesses can rest easy, knowing their money has FDIC coverage up to a whopping $5 million, thanks to a partnership with Green Dot Bank and their deposit sweep feature.
- Comprehensive Financial Overview: Tracking income and expenses becomes hassle-free, enabling businesses to gauge their performance and make informed decisions seamlessly.
David Talach, the senior VP of QuickBooks Money Platform, highlighted the core aim of this new tool: to extend their financial platform’s reach, providing more small businesses with crucial cash flow management resources. He envisions this as the gateway to future small business achievements.
As Intuit continues to cement its place as a trusted financial ally for businesses, its latest offering serves as a testament to its dedication to innovation and growth. QuickBooks Money offers immediate solutions and ensures businesses can effortlessly scale up to other services, like accounting and payroll, should the need arise.