Intuit Introduces New QuickBooks Product Line for Larger, Growing Businesses

Business Wire, April 2, 2002

Business Editors/High-Tech Writers

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 2, 2002

New QuickBooks Software is the First Intuit Solution Designed and

Priced for Businesses with 20 to 250 Employees

Intuit Inc. (Nasdaq:INTU) today introduced the first in a set of business management solutions designed for businesses with 20 to 250 employees. The new product, QuickBooks(R) Enterprise Solutions Business Management Software, features greater capacity, improved performance, enhanced reporting and the ability to support up to 10 simultaneous users. It also includes the new business management tool, the QuickBooks Employee Organizer, which helps businesses easily manage employee information and comply with state and federal employee regulations. The product delivers on Intuit's Right for My Business strategy by offering a higher-end solution for larger businesses.

"Customers no longer have to dread upgrading to a solution that's hard-to-use, requires extensive training, or is too expensive. Small business customers who have waited for a `turbo charged' business solution that's still easy-to-use, now have the answer," said Dan Levin, vice president of QuickBooks Financial Solutions.

Intuit is the leading provider of accounting software in this market segment, with more than 200,000 QuickBooks customers with 20-250 employees. The new solution offers these existing QuickBooks customers seamless migration to a more powerful solution that is familiar and easy-to-use. Because it maintains the same user interface and design as QuickBooks 2002, the software will be an easy next step for growing businesses.

Built for Larger, Growing Businesses

QuickBooks Enterprise Solutions Business Management Software addresses the key needs of larger businesses, from accounting to employee management, and was designed with guidance from hundreds of larger QuickBooks customers and a dedicated 17-member steering committee made up of QuickBooks customers and accountants.

-- Greater Capacity & Improved Performance: Larger QuickBooks businesses, with
20 to 250 employees, typically perform more transactions, manage more data and
have more employees using QuickBooks simultaneously than businesses with less
than 20 employees. To address their increased needs, the software allows up to
10 simultaneous users, records twice as many inventory items, customers and
vendors than any other QuickBooks product, and enables users to generate faster
standard balance sheet reports.(1) The software also enables more than one
person to work without waiting while others run reports or search for
transactions, resulting in faster simultaneous user performance.

-- Advanced Reporting & Back Orders: Advanced reporting and tracking
capabilities also are a priority for these customers. The software offers
several enhanced reporting features. One new feature enables customers with
multiple company files to more easily consolidate reports, saving them time and
simplifying the process(2). In addition, the software has the ability to track
back orders on out-of-stock inventory items, a top requested feature by
customers who keep inventory.

-- Employee Management: As businesses and their staffs grow, managing employees
can become more complicated and time consuming. The QuickBooks Employee
Organizer helps businesses better manage employee information by integrating
critical data such as job responsibilities, salary history and emergency
contacts. Guided processes help employers capture complete and accurate
information when hiring, promoting and terminating employees. An array of
employment reports enables users to quickly access critical data. The service
includes useful information on state and federal employment regulations and
forms, sample business letters and employment policies.

-- Data Integration with Other Applications: More than 70 percent of larger
QuickBooks businesses use additional business and industry-specific
applications.(3) Data integration between these applications and QuickBooks
helps save time and reduce errors that are the result of re-keying data from
one application to another. The QuickBooks Software Development Kit (SDK) is
compatible with the QuickBooks Enterprise Solutions Business Management
Software. Today, there are more than 80 industry-specific and specialized
business applications available to purchase and download at the QuickBooks
Solutions Marketplace (http://marketplace.intuit.co m/).

Paying Employees, Checking Customer Credit and More Services

QuickBooks Enterprise Solutions Business Management Software features a variety of business-related services integrated into QuickBooks. Services include QuickBooks Basic or Deluxe Payroll Service; the QuickBooks Credit Check Services, powered by D&B; QuickBooks Merchant Account Service, powered by Chase Merchant Services LLC and Wells Fargo Merchant Services, which allows businesses to accept credit card payments; and the QuickBooks Online Billing Service. These services are optional and may require application approval and additional service fees.