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Intuit Launches Financial Management Tool for One-Person Businesses

Intuit has unveiled a new financial tool called QuickBooks Solopreneur, tailored specifically for one-person businesses.

This product offers intuitive features to help these entrepreneurs manage their finances, set goals and stay tax-ready, the global financial technology platform said in a Wednesday (Feb. 21) press release.

“QuickBooks Solopreneur is designed specifically for one-person businesses who crave simplicity and don’t yet require an advanced an advanced accounting solution,” Michael Hitchcock, vice president, Accounting and Tax at QuickBooks, said in the release.

There is a growing trend of solopreneurs, with nearly 25% of U.S. consumers looking to start their own business this year, according to the release.

QuickBooks Solopreneur aims to support these individuals by providing tools to understand their finances, manage daily operations and prepare for tax time, the release said.

The new product includes features such as transaction management tools, customizable invoices and estimates, real-time cash flow monitoring and tax preparation assistance, according to the release. It is designed to help solopreneurs make informed decisions and achieve their financial goals.

Dr. Brenda Sacino, owner of Playful Progress in Bedford, New Hampshire, and a beta customer of QuickBooks Solopreneur, said in the release that the tool is easy to navigate and makes financial management painless.

The product is built on the expertise gained from serving self-employed business owners with QuickBooks Self-Employed but adds flexibility and productivity tools designed for one-person businesses, according to the release.

QuickBooks Solopreneur is now available to customers in the U.S. online and is compatible with the QuickBooks mobile app on iOS and Android devices, per the release.

Another recently launched product targeting solopreneurs is LegalZoom’s LZ Books. Launched in August, LZ Books is an online accounting solution built to help emerging entrepreneurs manage their books, secure new work and prepare for tax time.

Nontraditional career paths like freelancing are becoming more mainstream, and these entrepreneurs are realizing the importance of investing in the infrastructure that supports their work, Josh Greene, co-founder and CEO of coworking app Groove, told PYMNTS in an interview posted Feb. 2.

“And I see that people are building a tech stack around themselves in a variety of different ways, whether it’s financial management, whether it’s supplier management with CRMs, whether it’s a sales pipeline, or [this] human infrastructure piece that we’re building.”