QuickBooks-Blog

Intuit Stock Dives, Xero Stock Soars

When Intuit stock dives back to where it was TWO years ago (not even keeping pace with the Dow), while Xero stock soars almost 500%, the market is telling us what to expect in company product excellence and related growth.

That is why even QuickBooks insiders like me have been dumping Intuit products for Xero and Drake Software (pro tax). It also is why you should consider doing this.

When Intuit stock dives and Xero stock soars, the market is reflecting a 120% a year increase in Xero customers, while QuickBooks Desktop keeps losing users. When Xero soares this fast, a QuickBooks and Xero user like me can get $300 for a one-hour discussion of the companies with an investment advisor. When Xero stock soars this fast the company must try to explain the increase. It could not do so, so Xero stock soars still more. When Xero stock soars 250%, in ONE YEAR, compared to Intuit, you really should explain why you are not using or investing in Xero:

Intuit stock recently had the biggest one-day drop since March 2003, due to a drop in expected consumer tax returns received. It fell 12.5% in a day, after dropping up to 13.5%. Three analysts cut ratings, after returns received through April 12 fell 2% this year. Intuit expects this to increase 4% for the year, but previously said this division (which creates about 45% of operating income) would grow 10%. In the fiscal third quarter, when Intuit earns about half its annual revenue. It now expects about $2.80 a share, down from $2.88 a share. CEO Brad Smith said, "This was a tough tax season overall."

Yes, it was tough, but not for everyone. I recently saw this when we had our free monthly South Florida QuickBooks Meetup. I co-founded the oldest and second largest QuickBooks Meetup, with Brad's help. However, I learned that none of us still used Intuit pro tax products (Lacerte and ProSeries/Proline) and few still use TurboTax. After hearing that soe Intuit tax support calls took more than an hour on hold, vs 15 minutes for UltraTax, I strongly suggested Drake Software. Their far better support, with no second person referrals, takes less than 9 seconds on hold ALL YEAR. They even did this on the Saturday evening before April 15 and at noon on April 15.

For $1,500, ($1095 in May, 2013) Drake has the fastest program, unlimited support, unlimited e-filing and unlimited users, with document management, multiple computers, networking and much more. They even have links from your website, to a $10 and $20 consumer tax programs, which pay 80% commission. Compare that to these approximate costs:

    Intuit ProSeries – Proline $4,500 (several years ago)
    UltraTax $6,000
    Intuit Lacerte $7,500

That is why the 2012 CPA Advisor Reader's Choice Awards gave Drake a 42% rating, vs 13% and 12% ratings for Lacerte and ProSeries. It also means Brad should have many more tough seasons.

 

More Florida Unemployment Insanity - DOL

We now have some more Florida Unemployment insanity. This time it involves the U.S. Department of Labor (DOL). It says that a Florida Unemployment online application violates federal civil rights and nondiscrimination laws.

A Miami Workers Center complained that the Florida Unemployment Compensation (Reemployment Assistance) Program was inaccessible to people with disabilities and those with limited English skills. In August 2011, the state moved to end phone and paper applications. Its online application has a 45-question skill assessment of math, reading and other skills. A 56-page DOL finding said this violates federal law. (Imagine, 56 pages to say a 45 question test is unfair? We know all about Florida Unemployment insanity long ago.)

A state spokesperson said the DOL was aware of the legislative changes before their 2011 passage and raised no objection, but a different DOL division is now challenging the same laws, in response to questionable allegations of a special interest group. The DOL suggested exceptions to online filing for those with language barriers, sending notices to people to apply for retroactive benefits and providing special methods for persons with disabilities.

The state can negotiate voluntary compliance and a conciliation agreement. If it does not, the DOL can enter a final ruling that can disrupt federal funds for Florida. Now that would involve the ultmate in Florida unemployment insanity.

Save Money, Save Time and Speed Results

Save Money, Save Time and Speed Results-
I now have 13 years of experience in helping to save money (ROI to 100:1), save time and speed results. Click here for an Accounting Technology magazine cover story featuring me for this.

Save Money-
You can save money on the cost of keeping time records by having us create, check, correct or post them (ROI up to 100:1). You also can save money (two-thirds) on accounting, bookkeeping, filing, typing, programming and other staff. You can save even more money on payroll taxes, fringes, rent, insurance and computers.

Save Time and Speed Results-
You save time and speed results, with most work done at night. We use very inexpensive AUTOMATIC DAILY accounting programs and quickly add (or drop) extra staff, as needed.

Improve Supervision, Training, Control and Documentation-
We document all local and remote time with frequent screen snapshots and keystroke and mouse clicks. This lets us better use local and remote staff to supervise, train and control staff, while documenting work and even your car mileage. 

Please contact me to Save Money, Save Time and Speed Results.

Fantastic Small Business Accounting Reports, Daily, Weekly or Monthly

We can now give you any combination of fantastic small business accounting reports. We can give you these fantastic small business accounting reports daily, weekly or monthly. We can even give you these reports whenever you want them, in text or graphic form.

You can run these reports yourself or have any or all of them sent to you very soon after you request them. All the reports will contain completely updated data. That means they will include every transaction your bank, credit card and other financial institutions had last night, or at other dates you wish.

We can do this with the new custom Report Fields in Xero. These fields let us insert placeholders that Xero automatically replaces with data, when it runs reports. This is like a mail merge. This means we (or you) can now create your own fields, which Xero populates with the current data you want, when it runs your reports. It also lets us include (or exclude) our CPA practice fields, such as our 24/7 firm contact information. Nothing like these fantastic daily, weekly or monthly small business accounting reports has ever been available to small business owners before.

You can now get an extended free trial of the very inexpensive Xero and these automatic small business accounting reports. You can get this without a credit card and without learning anything about Xero or accounting.

Daily CPA Accounting: $100/month, Daily CPA Accounting with Payroll: $125/month

Would you like daily CPA accounting at an incredibly low price?

Very few small and medium businesses could ever afford this type of daily CPA accounting. However, we can now do all you daily CPA accounting (for most small businesses) for only $100/month. We even will do all your daily CPA accounting with payroll for only $125/month.

This type of daily CPA accounting gives you:

• Fast 24/7 access to bank, credit card and other financial institutions balances and transactions
• Include business, personal and family accounts
• Never any down time (so far, many redundant computers at several locations)
• New transaction entered daily
• A  fast way to confirm our daily work
• The custom accounts and reports you want
• Total safety - no one can use our program to steal your money (not even you)
• Unlimited free help
• FREE: accounting for prior transactions, back to January 1

All we need is an initial December 31 bank, credit card or other statement for each of your accounts. We then quickly send you a web mail. It lets YOU LOG IN TO YOUR BANK, not us. As incredible as it seems, logging in this first time is the ONLY HARD THING YOU WILL EVER DO WITH THIS DAILY CPA ACCOUNTING. You never:

• Enter transactions
• Decide where to post a transction (we will gladly post where you say)
• Pay for a program
• Update a program
• Have date or amount errors
• Worry about backup, restores, viruses or spyware

This is the biggest revolution in accounting since personal computers, Quicken and QuickBooks, so contact us NOW!