Intuit has announced price changes for QuickBooks Products and Services that will begin to take effect as of August 1, 2024. Insightful Accountant doesn't intend to reprint all of the published price hikes that many of you may have already seen in "A message from Intuit QuickBooks." Rather, we want to look at the potential impact these price changes could have for you as ProAdvisors and your clients.
So, let's start with QuickBooks Online. Online Self-employed will be increasing by 25% going from $20 to $25 per month. Simple Start is increasing by 16.67%, Essentials rising by 8.33%, Plus will be increasing by $10% and QBO-Advanced is rising by 17.5%.
Costs for QuickBooks Online Payroll will increase from 4.8% to 11.1% depending on the subscription version (Core, Premium and Elite) you are using.
When it comes to QuickBooks Desktop, the increase mushrooms. For a single user license of QB Desktop Pro or Mac Plus, users will see a $350 per year price hike which is equal to nearly 54%. QB Desktop Premier Plus users will see their annual subscriptions rise by $450 which equates to 47.4%. Can you say, "incentive to migrate?"
The cost for maintaining your QuickBooks Desktop ProAdvisors status will also see a significant increase. The ProAdvisor Desktop Premier Bundled Membership will rise to $999 per year, up from $799; that's a 25% increase. The ProAdvisor Enterprise Bundled Membership will rise by $300 per year to $1599, which is a 23.1% increase.
QuickBooks Desktop Payroll isn't being left behind... it's price is going up just like the other products. You can expect to see an increase of $150 per year for your subscription to either Basic or Enhanced, in addition to a $1 per employee increase in the monthly cost. Collectively, that represents about a 31.5% average increase.
Legacy Enhanced Payroll (up to 3 employees or 4+ employees) is being increased approximately the same 31.5% by the time you include the $1 per employee increase in monthly cost. Plus, we were told that 'new fees' will apply to process W2s for Legacy Payroll users.
QuickBooks Desktop Payments users will see new percentage-based fees, rather than $-per-transaction fees, go into effect when processing ACH payments.
Insightful Accountant has tried to give you a concise idea of the impact that the price hikes taking effect on, or after August 1, 2024, will have upon you and your clients who use these various QuickBooks products.
To get all the details in regard to the price-by-price changes on a Product basis we suggest you read the Firm of the Future article titled, Announcing upcoming changes to QuickBooks pricing + FAQs.
Intuit has also provided a feedback site where you can comment regarding the announced changes. You will find that feedback site HERE.
Disclosures:
Some featured content was based upon Intuit media source materials and other QuickBooks resources including QuickBooks Help content. Content adapted by Insightful Accountant from Intuit sources is furnished for educational purposes only.
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