A new partnership between Intuit and Square could help streamline your bookkeeping.
Later this fall, small businesses that use Square's mobile credit card readers might have an easier time managing their bookkeeping. Intuit has announced that it is launching a new service on November 19 that will synch Square with Quickbooks.
Though many details about the partnership still remain unclear, an Intuit spokesperson noted that Square Register, Square's point-of-sale software, will be offered as an option to current QuickBooks users. And Square Register users will be able to easily transfer their sales data into QuickBooks.
Intuit already has its own mobile credit card processing device, GoPayment, which automatically synchs with Quickbooks, but, until now, Square's 2 million-plus users were out of luck.
"With the Square integration, a local retailer or restaurant may choose Square, while an invoice or service business--like a travel agent or accountant--may select one of Intuit’s payment solutions, such as GoPayment or QuickBooks Point of Sale," says Dan Wernikoff, senior president and general manager of Intuit Small Business Financial Solutions.
Intuit has yet to release pricing information for the new service. For now, the company will continue to offer GoPayment, whose most popular plan costs $12.95 per month.