Intuit Unveils Intelligent Automation for Streamlined Business Accounting

07/29/2025 – 05:14 AM

Latest QuickBooks updates bring faster payments and improved financial compliance to businesses and their accountants

LONDON–(BUSINESS WIRE)–
Intuit Inc. (Nasdaq: INTU), the financial tech giant behind platforms like Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today unveiled a suite of enhancements to its QuickBooks platform. These upgrades are designed to deliver a more intuitive and automated accounting experience for businesses and accountants operating in the global market.

These new features emphasize Intuit’s ongoing commitment to innovation. The aim is to provide both incremental efficiencies and game-changing capabilities that redefine not only how businesses operate and scale, but also how accounting itself is executed. This also marks the next phase in the Intuit platform’s evolution – envisioning an all-encompassing business solution powered by AI to automate routine tasks, manage intricate workflows, centralize critical data, and eliminate the reliance on disjointed tools.

Explore the full range of new features at Intuit’s new QuickBooks Launchpad, a resource designed to keep users updated on the latest product features and innovations.

1. QuickBooks Payments

Late payments continue to plague businesses, with 73% of UK SMBs feeling the sting of delayed revenue, and a staggering 31% spending 20-30 hours monthly chasing down clients. Intuit is tackling this challenge head-on with a faster and more secure way to settle invoices. QuickBooks Payments, currently in beta, lets QuickBooks users link their bank account to a “pay now” button embedded directly into invoices, enabling customers to complete one-click direct payments.

Payments are automatically reconciled, keeping the books up-to-date with minimal manual intervention. Seamlessly integrated within QuickBooks Online across all devices, this feature promises accelerated settlement times coupled with competitive transaction fees.

2. AI-Powered Bank Feed

Categorizing bank transactions often proves repetitive and error-prone. Enter Intuit’s AI-powered bank feed in QuickBooks, which learns from users’ past behavior to make informed categorization suggestions based on historical patterns. Each recommendation comes complete with a transparent rationale, allowing users to confidently review, approve, or modify entries – streamlining operations and boosting accuracy.

This upgrade delivers more precise categorization suggestions, facilitates inline editing of fields like category, supplier, class, location, and product/service, and provides payee suggestions that let you add new payees straight from the bank feed. This is designed to significantly ramp up efficiency while maintaining full transparency, allowing users to control how much or how little they leverage AI.

3. Out-of-the-box support for Depreciation Methods

Calculating depreciation on business’ assets, particularly for medium-sized businesses juggling extensive asset portfolios can be a nightmare. Intuit has streamlined and automated how customers approach tracking the depreciation of fixed assets in QuickBooks Online Advanced. It now supports reducing balance depreciation, an expansion that strengthens its fixed asset capabilities to more effectively address finance teams’ needs. Previously restricted to straight-line depreciation, users can now employ the reducing balance method by simply entering a rate; QuickBooks takes care of the calculations and updates reports automatically.

This provides a more precise depiction of asset value over time. By automating depreciation calculation and adding innovative filtering options for categories in the asset register, Intuit is helping customers curtail manual errors, stay in compliance with accounting standards, and support on-demand reporting.

4. Construction Industry Scheme (CIS) Enhancements

Dealing with Construction Industry Scheme (CIS) obligations is notoriously tricky for contractors. QuickBooks Advanced, Plus, Essentials, and Simple Start plans now permit automated bulk-sending of monthly CIS statements directly to subcontractors after filing. This cuts down on hours of repetitive manual work for each month, keeping users organized and audit-ready.

To further aid compliance, new CIS reminders let users schedule email alerts to arrive before each month’s deadline. Admin users within QuickBooks can set up these reminders which are conveniently dispatched via email – making it easier than ever to submit returns punctually and sidestep those dreaded late filing penalties.

QuickBooks today also offers direct subcontractor verification with HMRC. Users can rapidly check subcontractor status within the platform, store Government Gateway credentials securely, and access verification dates, enabling preemptive re-verification when necessary. By consolidating key CIS tasks and minimizing superfluous procedure, these improvements provide a more efficient way to remain compliant within the construction sector.

Ciarán Quilty, Senior Vice President of International at Intuit noted: “As businesses grow in size and complexity, we know that they need a financial technology platform that provides deeper customisation, enhanced automation and features to get critical jobs done. We’re committed to listening to our customers to help businesses and accountants work smarter, not harder, whilst gaining the financial expertise and confidence they need to succeed. Driven by direct feedback from our customers, these latest innovations are powerful examples of how we’re using AI to simplify financial workflows, improve accuracy, and give our customers more time to focus on what matters most. We’re re-imagining our entire connected business platform and I couldn’t be more excited about what’s coming.”

Aaron Patrick, ACA, FMAAT, and Head of Accounting at Boffix Ltd weighed in: “I jumped at the chance to switch to the new QuickBooks experience, and the AI-powered bank feed alone has already saved hours of manual review and given my clients greater confidence in their records. As an accountant, I’m especially looking forward to the roll out of the enhancements to CIS. This will help us deliver compliance more quickly and free up time to focus on providing more support for our clients.”

Disclaimer:

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, and functionality are subject to change without notice.

*Based on a 2023 survey commissioned by Intuit QuickBooks of 2,008 small-medium business owners.

About Intuit

Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.

Intuit Limited registered in England (Company No.: 2679414) Registered address and principal place of business: 5th Floor Cardinal Place, 80 Victoria Street, London, SW1E 5JL, England.

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Source: Intuit Inc.