Here’s great news for marketing ecommerce agencies, looking to drive increased recurring revenue through stickier client relationships and better product bundles. Intuit needs experienced partners to resell its leading QuickBooks Online accounting solution in the United States. So let’s explore the what, why, how, and everything else you need to know about becoming a QuickBooks Online reseller.
A crash course on QuickBooks Online
Cloud-based accounting is definitely the future of software in general and small-business accounting in particular. QuickBooks Online provides a complete and comprehensive set of accounting and bookkeeping solutions with functions that include: income and expense tracking, invoice and accept payments, contractor management, inventory tracking, a tax deduction planner, and receipt capture and organization. Four online versions are available.
How QuickBooks Online works
QuickBooks Online is cloud-based and includes three packages:
- Simple Start - for a single user
- Essentials - for up to three users
- Plus - for up to five users
- Advanced - for up to 25 users
These offerings are currently available on the Intuit website at a 50% discount for three months. However, through the Vendasta Marketplace, the 50% discount is offered for a year.
QuickBooks Online products and services
Standard product features available in “Simple Start” and across all QuickBooks Online packages include:
- Track Income & Expenses: Securely import transactions and sort these into appropriate tax categories. This feature also allows you to take receipt photos from a mobile device and link these to expenses.
- Invoice & Accept Payments: Create custom invoices and automatically track their status, send payment reminders, and match payments to invoices. You can also accept credit cards and free bank transfers right in the invoice
- Maximize Tax Deductions: Organize and automatically sort income and expenses into the right tax categories, share your books with an accountant, and export important documents at tax time
- Run Reports: Dashboard and tracking views of various account and finance results. It’s offered in three tiers of Simple Start, Plus and Advanced that provide varying levels of functionality.
- Capture & Organize Receipts: Use a mobile device to snap and save photos of receipts. Sort and link them to transactions
- Track Miles: Through a mobile-device GPS, you can categorize business and personal trips, plus break down miles driven and potential deductions
- Track Sales & Sales Tax: Accept credit cards with the QuickBooks mobile card reader or sync with popular apps. Connect to the e-commerce tools and automatically calculate taxes on invoices.
- Send Estimates: Create and send customized estimates, see their status, convert them into invoices, and accept mobile signatures.
- Manage 1099 Contractors: Stay compliant, assign and manage vendor payments to 1099 categories, plus prepare and file 1099s.
Additional features in the QuickBooks Online “Plus” version include:
- Manage & Pay Bills: Track bill status, record payments, and create recurring payments. Pay multiple vendors and bills at the same time. Create checks and print when ready.
- Track Time: Track client and employee billable hours, and automatically add them to invoices.
- Track Inventory: Track products, cost of goods, and be notified when inventory is low. Track what’s popular, create purchase orders, and manage vendors.
- Track Project Profitability: View of all your projects in one place through dashboards and reports. Track labor costs, payroll, and expenses with job costing and see project profitability at a glance.
QuickBooks Online “Advanced” includes the features of “Simple Start” and “Plus” as well as:
- Business Analytics & Insights: In-depth analysis tools to track KPIs and monitor your business performance. Compare, rank, and benchmark.
- Import & Send Batch Invoices: Create invoices. Enter, edit, and send multiple invoices, checks, expenses, and bills. Cut and paste from Excel.
- Customize Access by Role: Assign work to particular users. Create custom permissions for deposits, sales transactions, expense reports, and more.
- Automate Workflows: Configure and automate reminders and triggers based on your rules.
- Restore Company Data: Continuously and automatically back up changes. Restore a specific version of your company based on a chosen date and time. View a log of version histories with a count of all changes made.
Top 4 reasons to be a QuickBooks Online reseller
This brief list will help you better understand the great reasons why to become a QuickBooks Online reseller:
1. Everyone needs and uses accounting software
All businesses must track their finances and stay focused on the bottom line. Today’s accounting software for small and medium-sized businesses is better than ever - simpler to use, sports many tools, and features automation for efficiency, improved accounting accuracy and ensures you don’t miss any important steps. Based on it's popularity and adoption, there’s no better small business accounting solution than QuickBooks. For bookkeepers, looking to start their own business and serving many clients, QuickBooks Online is definitely a recommended choice.
Here are some great QuickBooks Online advantages:
- Easy to use - QuickBooks Online is simple. Just follow the forms, and fill them out.
- Ready-to-use - Thanks to a wide range of available templates for creating invoices, spreadsheets, charts and business plans. Customize the look and feel for a truly professional polish.
- No upgrades needed - Because it’s in the cloud. New versions of QuickBooks are updated and loaded automatically.
- Great support - through a vast array of articles and video tutorials, plus the online helpdesk and end-user community assistance. If you’re stuck there are many resources and people to turn to.
2. Third-party app integration
QuickBooks Online offers approximately 300 add-ons and integrated programs, including:
- Method CRM - Intuit’s customer management software, and Agiliron, an integrated customer management, inventory management, and point of sale program.
- Practice Ignition - that lets new clients sign digitally, and billing is automatic with invoices being reconciled in QuickBooks.
- Receipt Bank - that handles invoice and receipt collection, extracts key data and auto-publishes transactions in QuickBooks.
QuickBooks Online’s ‘open API’ means you can take a great idea for an app and make it a reality. If you team up with a developer, they can also join the developer portal.
3. QuickBooks legacy and brand leadership
The power of great brands adds credibility to a solution portfolio. QuickBooks has been around for nearly two decades and continues to lead the market for small-business accounting software. It’s well-known and revered. As previously mentioned, every business needs accounting software and many already use market-leading QuickBooks. Let it be the anchor for all of your other product and service offerings.
4. QuickBooks is sticky
The combination of a leading branding, a great product, and the general reluctance by most to move from a proven accounting solution that works, is a great recipe for customer retention and loyalty. There are 289,231 companies that use QuickBooks and it has a global market share of 62% in the accounting software market. Enough said! That’s a huge following and a massive customer base. If minimizing churn and driving stronger client relationships is a high priority for your business, then becoming a QuickBooks reseller is a perfect pairing for you and your brand.
Reselling QuickBooks Online with Vendasta
The “why” of reselling QuickBooks Online through Vendasta is pretty straightforward. You want to provide your clients with the best products on the market and an industry-leading accounting solution to help them manage their financial health. And you want to empower them to effectively manage their business from one place - through their branded app.
Let’s delve deeper into the branded app notion. Your branded app - the Vendasta Business App - will provide regular reporting on income and expenses. See the dashboards, below.
The tools in Business App now help you monitor and impact your bank balance. Upon connecting, you'll receive instant alerts on when an invoice is paid, overdue, and more. Connection to Business App can be made with an existing QuickBooks account (no purchase required) or sign up for an account.
There isn’t a more well-known and trusted accounting software brand in the marketplace than QuickBooks. With QuickBooks Online, your clients can feel confident knowing they are using the most functional, easy-to-use, convenient, compatible, and secure solution for their accounting work.
If you are ready to drive up your revenue, build stronger relationships with clients, and always outmatch competitors, then head to the Vendasta Marketplace.