Intuit to Shut Down QuickBooks in India

Intuit will be shutting down its QuickBooks financial management service for India as of Jan. 31, 2023, a report from The Economic Times of India said Monday (July 4).

QuickBooks has been operating in the country since 2012, providing accounting software and invoicing, inventory and financial management.

Customers will be shifted to a free subscription model if they already have an account. And a spokesperson said those who’d already paid for an annual subscription would get a pro-rata refund for their unused part of the subscriptions.

The decision to shut down the service is likely to be a boon for rivals like Zoho and Tally. However, the report noted that Intuit’s presence in India won’t be affected by this.

Zoho has said recently, due to the news, that it plans to support customers of QuickBooks in India, and Prashant Ganti, head of products tax accounting and payroll with Zoho, said the company acknowledges the difficulty for businesses to find a replacement for an existing financial system.

PYMNTS wrote that QuickBooks has been making other partnerships, though — including one with Verizon in order to integrate Intuit’s service with fleet management unit Verizon Connect.

See also: Verizon Connect Unveils QuickBooks Integration

This will help customers preparing for tax day next year. This will allow field service organizations to get help, including “any customer managing the installation, maintenance or repair of hardware or equipment installed ‘in the field.’”

“This new integration provides Reveal Field customers with a seamless, simplified invoicing experience that helps them focus on what’s important, instead of juggling multiple software platforms,” said Verizon Connect Director of Product Management Erin Cave in the release. “Customers can now manage customer invoices without having to enter them twice, saving a lot of time and reducing the likelihood of errors.”