Intuit Releases QuickBooks Money for Small Businesses

October 12, 2023

Intuit recently released a new payment and banking solution in their QuickBooks line of products. 

It is designed especially for small businesses who might not currently need the full range of QuickBooks accounting and financial management capabilities.

Pay as you go financial management for small businesses

Intuit, the parent company behind financial products such as QuickBooks Online, TurboTax Business, and Quicken, announced the release of its new product. QuickBooks Money is created for small businesses to manage sending invoices, receiving payments, and cash flow.

QuickBooks' goal is to reach a wider audience of small businesses who might not need or can't afford software with the whole gamut of accounting and financial management features also offered by QuickBooks.

This new solution has no subscription or monthly fees but instead charges users per transaction. It also offers a mobile app that allows customers to receive and withdraw funds, track business income and expenses, and manage invoices.

If a business requires a more robust accounting system due to growth in the future, it can select add-ons such as accounting, workforce management, and payroll.

The structure of this software is vital to the industry because it empowers small businesses, which, according to Forbes, make up 99.9% of all businesses in the US, with mobile, innovative, and necessary financial tools. 

With the “pay as you go” model, software becomes more accessible and reaches a broader audience, potentially altering how (small) businesses manage their money and overall company. It also spurs competition amongst vendors, leading to better and more affordable offerings for customers.

G2 reviews uncover what small business owners require

In G2’s Accounting category, there are 134 vendors offering a product designed for small businesses and over 1,200 authentic user reviews from small businesses (1-50 employees) in the past 12 months alone. 

Amongst these reviews, over 27% are from users already using a QuickBooks product (QuickBooks Online, Advanced, Desktop, etc.).


Some reviewers have recently expressed concerns over pricing. An admin user remarked, “The pricing could be better for small businesses,” and a bookkeeper commented, “QuickBooks Online is somewhat expensive for small businesses.” 

The data tells us that QuickBooks is possibly listening to its customers, is aware that many small businesses don’t need a full accounting suite to successfully manage their company, and is expanding its offerings to better match the needs of small business users.

Making finance more accessible for small businesses

This strategic move to offer a pay as you go model to small businesses is part of a movement to make financial tools more accessible and affordable. Small businesses have diverse requirements, and software providers need to continue to develop mobile, affordable, and flexible platforms that are user friendly and can grow with a business.

Own a small business? Read about some small business bookkeeping essentials to help keep your finances in line.

Edited by Jigmee Bhutia

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Intuit Releases QuickBooks Money for Small Businesses Intuit’s new product, QuickBooks Money, allows small business owners to manage invoices, payments, and cash flow without a full accounting suite.
Nathan Calabrese Nathan is a Senior Research Analyst at G2 focusing on finance and accounting software and their respective markets. Coming from the world of finance, Nathan understands and is familiar with the importance of finance/accounting software, and the complexities, struggles, and nuances that come with them. He has over 15 years of analytical experience in industries ranging from health care and transportation logistics to food service and software. Nathan received his MBA in finance and international business administration from the University of Illinois, Chicago, and his B.S. in production and operations management from California State University, Chico.