Intuit expands AI capabilities across mid-market products

Intuit, the software company, has announced an expansion of its artificial intelligence (AI) capabilities in its mid-market product line, including QuickBooks Online Advanced and Intuit Enterprise Suite. The company unveiled Intuit Intelligence Chat, a conversational interface that allows users to query their business data, run reports, and launch workflows in a conversational manner. Currently in beta, this feature is accessible to eligible customers.

QuickBooks Online Advanced now encompasses bill pay, payments, business intelligence, and AI-driven bookkeeping within its core subscription. An additional AI-powered service, Books Upkeep, is now available, which automatically processes transactions based on user-defined rules. Bill Pay Elite, featuring unlimited free ACH and 1099 e-filing, is incorporated at no extra cost.

In Intuit Enterprise Suite, multi-entity accounting is in beta, along with multi-currency support that adheres to ASC 830 and IAS 21 standards. The platform has also broadened its dimensional reporting to include balance sheet items like assets, liabilities, and net assets.

The company has further tailored industry-specific features for construction, manufacturing, and nonprofit sectors. Construction functionalities now include real-time project profitability tracking and AI-generated estimates. Manufacturing features, currently in beta, include units of measure and multilevel bill of materials. Nonprofit organizations can now utilize Balance Sheet by Dimension reporting in beta.

Intuit's EVP and Global Managing Director for Small Business and Mid-Market, Ashley Still, emphasized the importance of trustworthy AI for finance teams. According to Still, 95% of businesses migrate to Intuit Enterprise Suite within 30 days or less. Notably, migration from QuickBooks Desktop now incorporates inventory costing, units of measure, prepayments, and report templates. These capabilities are being released to U.S.-based customers, with availability varying by product, subscription tier, and geography.