Etsy Partners with Accounting Software Major Intuit To Offer Sellers QuickBooks Integration
Earlier this month, Etsy had announced its partnership with Intuit aimed at offering Etsy sellers full access to Intuit’s QuickBooks Self-Employed Accounting Software at discounted price. The offer reportedly is to be made for Etsy customers in the US and UK.
Industry experts say that this partnership between Intuit and Etsy has been made primarily with following motives –
• Simplify accounting & tax prep process for creative businesses
• Provide sellers greater, better insight into their overall sales & expenses on e-commerce website
Accounting a Challenging Area for Customers – Etsy Believes Survey Reports…
Even Etsy is expecting the Self-Employed platform of Intuit’s QuickBooks to effectively simplify the accounting process its customers that include creative businesses and entrepreneurs. Accounting is an area that Etsy sellers consider being typically challenging and time taking as reported by the e-commerce company.
Etsy has a solid reason behind this understanding of its customers’ problem. The company has cited a survey of US sellers conducted in 2015 in which 45% survey participants identified accounting or tax prep or as cumbersome and very challenging.
The Intuit-Etsy Partnership Aimed at Improving Things Altogether…
Intuit and Etsy had already revealed in a recent press release that their partnership will be aimed at improving things for the e-commerce company by offering –
Seamless Data Integration – The sellers’ data of Etsy will seamlessly flow into QuickBooks Self-Employed. This would automatically categorize the data, thus providing customers instant & reliable insights into cash flow. Henceforth, sellers will be able to see not only their real income but the total expenses and profit too.
Special Discounts for Customer – Etsy sellers will be receiving a special discount for QuickBooks Self-Employed. Moreover, sellers located in the U.S. will have the absolute leverage of QuickBooks Self-Employed Tax Bundle that allows paying quarterly & year-end taxes via TurboTax Online.
What the Company Spokespersons Had to Say?
“By enabling Etsy sellers in U.S. and U.K. to export their Etsy sales & expenses seamlessly into QuickBooks Self-Employed, we are thrilled to help sellers focus on their businesses, not their bookkeeping,” said Hailey Suyumov, product manager at Etsy.
As per the Vice president and General Manager of Intuit’s Self-Employed Solutions “At Intuit, we are on the mission to change financial lives of self-employed people around the world. Etsy empowers creative entrepreneurs to discover new & exciting ways to pursue their passions and earn income in the global marketplace. We are proud to assist Etsy sellers keep more of that hard-earned income in their pocket, with a tailor-made solution that maximizes their
deductions, simplifies tax time and provides clear visibility into their cash-flow throughout the year.”
Definitely, Etsy sellers will find accounting more relaxing after this partnership. Better results are though expected by both partnering firms, yet actual results will be clear only in the coming time.