Eighty-nine percent of small business clients state they are more successful when they work with an accounting professional. As a result, well-equipped accountants are an increasingly invaluable resource in a country like South Africa, where the number of small businesses is growing rapidly.
To help accounting professionals meet the needs of their small business clients and prospects, Intuit QuickBooks executives recently were in South Africa to launch QuickBooks Online Accountant, the company’s leading online solution that helps accounting professionals grow and manage all their clients and their practice in one place. While here, they met with some of the country’s leading accountants, bookkeepers and industry experts in Durban, Cape Town and Johannesburg.
With more than 600,000 accounting professionals and five million users of its QuickBooks products globally, Intuit QuickBooks is the world’s leading cloud accounting solution provider.
“South Africa is our top focus for two reasons,” said Rich Preece, global leader of the Intuit QuickBooks Accountant business. “First, there is a significant opportunity for accountants to grow their practices as South Africa experiences immense growth within the small business sector. Second, we have a well-established, existing local alliance with EasyBiz, who is just as committed as we are to supporting new and existing accounting professionals with the right tools to help them meet the needs of small businesses.”
Data from the Small Enterprise Development Agency predicts immense growth in the small, medium-sized and microenterprises sectors in South Africa. The agency estimates that 90 percent of jobs in South Africa will be created by small businesses, which in turn is expected to contribute 60-80 percent to the GDP*.
At the same time, Intuit QuickBooks has more than 50,000 existing desktop solution customers in South Africa who, with the help of EasyBiz, want to transform and grow their practices with robust online tools for themselves and their small business clients in order to meet the growing demand for accounting services.
QuickBooks Online Accountant, specifically designed for accounting professionals, leverages technologies like machine learning and artificial intelligence to deliver data-driven insights that can help accountants transition their role from compliance officer to trusted advisor focused on helping their small business clients grow.
“QuickBooks Online Accountant was designed with one goal in mind: to be the one place for accounting professionals to grow and manage all their clients and their entire practice,” said Ariege Misherghi, Product Leader for Intuit QuickBooks accounting solutions. “Working closely with accountants and listening to their feedback, we have also created a solution that gives accounting professionals the ability to simplify tasks while ensuring greater control so they no longer live in fear of something falling through the cracks.”
The advantages and capabilities of QuickBooks Online Accountant specifically designed for South Africa include:
- Localised offering;
- Local currency billing (Rands);
- Wholesale billing options (for rebate, discount and value pricing flexibility);
- Deadline management system;
- Platform to manage the books of the accountancy practice;
- Strong access controls;
- Protected data access;
- Password protection;
- Audit log system;
- Customisable management reporting system; and
- User-friendly for clients across industries.
“We are excited about the opportunity in South Africa,” Preece concluded. “The number of small businesses is growing significantly, which presents a tremendous opportunity for accountants who play a key role in helping small businesses succeed. We look forward to furthering our commitment to South Africa and deepening our relationship with accountants to deliver localised solutions that meet their unique needs.”
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