QuickBooks Collaborates With Modulr On SMB Payments Account

Intuit QuickBooks has struck a deal with financial technology firm Modulr, which will fuel a new online payment account created especially for small companies called the QuickBooks Business Account. The tie-up will let QuickBooks connect a business account with a collection of bookkeeping, accounting and tax offerings, according to a Wednesday (March 3) announcement.

“We are proud to power the new QuickBooks Business Account, and to support Intuit’s vision of reducing the burden of admin imposed on small businesses and their financial lives,” Modulr Chief Executive Officer Myles Stephenson said in the announcement.

The QuickBooks Business Account was the signature rollout at the digital QuickBooks Connect event for small companies and those in the accounting field. During the event, small businesses were shown how the QuickBooks Business Account smoothly connects with QuickBooks’ collection of financial management technology to solve four of the most common challenges they encounter. Those hurdles include the burden of admin, confidence, cash flow, and incoming and outgoing late payments, according to the announcement.

In one case, the QuickBooks Business Account links with a tool inside of QuickBooks called the Cash Flow Planner to let small companies see cash flow two years ahead of time, while clients can also run scenarios through the account. Clients can take steps such as moving up a due date or scheduling a bill for another time in the event a cash flow shortfall is forecast.

“Our mission at Intuit is to Power Prosperity around the world and one of our goals to achieve this mission is to help our small businesses thrive. They power our economy and we need to do everything we can to support them. We believe we can achieve this by putting digital technology at the heart of their operation,” Intuit QuickBooks VP and Country Manager Chris Evans said in the announcement.

In separate news, Intuit recently purchased Australia-based OneSaas to assist it in integrating third-party online shopping solutions into its QuickBooks platform.