Intuit Adds Invoice Tracking For QuickBooks Self-Employed
On-demand economy is growing at a significant rate. Independent sellers working on online platforms or contract workers are attracting many people’s attention nowadays.
QuickBooks Self-Employed :
Alone in the US, on-demand economy is pulling 22.4 million consumers per year. So you can imagine how worthy this business would be. To handle this mammoth task easily, Intuit has provided another dedicated version of QuickBooks in 2015 called QuickBooks Self-Employed.
And, after reading the numbers given above, it should not be surprising to know that this version had got more than 100,000 subscribers within one and a half year of its launch. This version offers the facilities like connect financial accounts, track deductions, and calculate taxes.
However, one feature that was desperately needed by these self-employed workers was invoice tracking facility. Earlier, it was used to be only on QuickBooks Online.
As per the research done by Intuit, a contract worker owes an average amount of $10,000 in unpaid invoices. To track down a single missing invoice, they need almost one and a half day. This is a very big amount of time from any perspective. Hence, the product makers finally decided in 2016 to embellish the self-employed version with invoice tracking ability.
Managing cash flows is a huge challenge in business. Especially, when you are working on your own. Adding invoice tracking to self-employed not just beneficial to the worker looking professional, but it also helps them tracking when the client had received the invoice and when they had seen. It also helps the customer to pay electronically from any part of the world with internet connectivity.
Invoice Tracking Added to QuickBooks Mobile Solution :
Moreover, invoice tracking has also been added to QuickBooks’ mobile solution, helping a hand to the users generating along with formatting and sending the invoice to the customer.
You can also see the history of previous invoices sent to the clients. Since it helps the electronic payment like credit card and check according to Intuit, invoice tracking will help the freelancer to get the amount pretty quickly.
From the last one or two years, Intuit’s focus is shifted to the freelancing works which clearly indicates that they want in-demand economy as the head of their priority list. They have collaborated with Uber, Fiverr, Lyft, TaskRabbit, and UpCounsel in order to make QuickBooks Self-Employed popular among the contract workers of these firms by giving them the software at discounted rates.
So far, the QuickBooks Self-Employed has proved itself as a huge success for Intuit. By 2020, Intuit has estimated around 7 million+ people working in the on-demand economy. Therefore all the freelancers out there get ready for more surprises in future that will take your businesses even further.
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- Julia is Techarex Network’s Content Marketing Associate for Intuit products. She has worked as a B2B and Marketing Strategist for the last seven years, helping businesses with software implementation for Customer Service, CRM, and Email Marketing. Julia thrives in helping companies find the right software solution for their projects. Aside from his obvious passion for Marketing, Julia admits to being a foodie and travel enthusiast.
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