Intuit Announces to Stop Services of QuickBooks in India

The United States based Fintech Company, Intuit Inc., has announced to halt the operations of its QuickBooks software in India. The company has announced this with the help of its official website. The cessation of QuickBooks services of applies to all the subscriptions and services for QuickBooks Online, QuickBooks Online Accountant, the QuickBooks mobile app, and QuickBooks Time. All the services will be stopped by the company after 31 January, 2023.

QuickBooks, designed and marketed by Intuit Inc., is an accounting management software that helps small businesses in taxation and accounting related works. The software is primarily focussed on small businesses and runs on both cloud and non-cloud servers. It helps in accepting payments, managing and paying bills, and payroll management.

“Offering a product that our customers can depend on for their business is our top priority. After careful consideration, the decision was made that we can no longer continue to deliver and support QuickBooks products that serve the needs of small businesses and accounting professionals across India,” the company posted on its website.

The firm said that the decision won’t impact its ongoing presence and investment in the country. Intuit has 1,300 employees in India, and the company said these employees deliver “bold innovation that benefits more than 100 million customers around the world.”

This news will impact small business owners as the company is withdrawing its services when a considerate number of businesses are going digital. Another thing which can happen because of this stoppage of services is that indigenous technology companies may get a chance to acquire the market previously captured by QuickBooks.

“From 1 July, no new sign-ups to QuickBooks products in India will be accepted. QuickBooks will continue to be available for current subscribers in India until 31 January 2023. Current customers will be sent further communications. All existing paid subscriptions will be switched to a free subscription prior to 31 July 2022, to enable continued use through 31 January 2023 with no charges applied.  Customers should download their data and transition out of the product prior to 31 January 2023”, the company further mentioned on the website.