Intuit Updates QuickBooks for the Web; QuickBooks Desktop Users Now Can Convert Data Into QuickBooks for the Web

Business Wire, Dec 18, 2001

Business Editors

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec. 18, 2001

Intuit Inc. (NASDAQ:INTU), the leader in small business accounting software, today announced the latest release of its QuickBooks(R) for the Web online financial management solution. Supporting the company's "Right for My Business" strategy, QuickBooks for the Web gives small businesses with multiple users or multiple locations anytime, anywhere access to their accounting data. With this release, QuickBooks for the Web offers the ability to convert data from desktop versions of QuickBooks 1999, 2000 and 2001.

"Intuit's Right for My Business strategy is about making solutions to meet the unique needs of small businesses -- whether they are desktop or Web-based," said Craig Carlson, vice president, QuickBooks for the Web. "QuickBooks for the Web offers small business owners unique functionality and flexibility with features such as automated billing."

"QuickBooks for the Web saves me hours in tracking time and billing our customers," said Jason Catlett, Senior Solutions Developer, Mesa Canyon Consulting. "Our contractors are accessing QuickBooks remotely from a variety of locations to enter their billable time. Those charges flow directly to the next invoice for that client, so all I need to do is review the invoices, e-mail a copy to our client and print a copy for my records. It is simple and has increased our productivity."

New features in QuickBooks for the Web include:

-- QuickBooks Desktop Conversion - Users can start a new QuickBooks for the Web
company file by completing a one-time, one-way conversion of existing data from
desktop versions of QuickBooks 1999, 2000, or 2001 into QuickBooks for the Web.


-- One-Step Invoicing - Users can now easily create invoices in one simple step
by entering information right on the invoice form. They can also include
discounts and shipping information and edit the invoice number.

-- Class Tracking - Users can set up classes to organize transactions by
classifying income and expenses by department or project, and then generate a
profit & loss report by class.

-- View Reports in Microsoft(R) Excel - Users can export reports to Excel for
further analysis. Simply select the QuickBooks for the Web report and click the
Excel button. The data appears in a Microsoft Excel spreadsheet with the
formulas already calculated, so users can manipulate data to analyze their
business is doing. This function requires at least Microsoft Excel 97.

-- Customized Reports - Users can create customized reports with a few clicks
of the mouse by adding, deleting or arranging columns.

-- Simple Sales Tax - Now users can identify taxable customers and items, and
run a new Taxable Sales report.

Ease of Use

QuickBooks for the Web provides small businesses with a simple and fast way to start managing their business finances. With the easy Start-Up Interview, users can be up and running on QuickBooks for the Web in about 10 minutes. QuickBooks for the Web has no software to install or maintain, and there is no networking required for multiple simultaneous users. Upgrades occur automatically throughout the year, and all data is backed up daily and stored on firewall-protected servers stored in an offsite location.

Pricing and Availability

QuickBooks for the Web is available for $14.95 per month for one to five users and $29.95 per month for six to 11 users. Additional pricing plans are available for more users. A free 30-day trial is available to all users. As additional features become available, current customers will have immediate access to them. Features vary between QuickBooks for the Web and the desktop versions of QuickBooks. Customers can learn more about the QuickBooks family of products and other services by visiting www.quickbooks.com.

System Requirements

QuickBooks for the Web requires a computer with Microsoft Windows 95, 98, ME, NT, 2000 or XP and at least Microsoft Internet Explorer 5.0 (IE 6.0 is recommended.). A high-speed Internet connection, such as DSL, T1 or cable modem, is recommended.

About Intuit

Intuit Inc. (NASDAQ: INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken(R), QuickBooks(R), Quicken TurboTax(R) and Quicken LoansSM simplify personal finance, small business management and payroll processing, tax preparation and filing and home loans. Founded in 1983, Intuit has annual revenue of more than $1 billion and reaches 25 million customers with more than 6,000 employees in 13 states and four countries. More information can be found at www.intuit.com.

Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, QuickBase, TurboTax, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.