New QuickBooks Online Pricing: How This Will Affect You

As you are already aware, things are constantly shifting in the vast world of Business and Accounting. Elements of products and services evolve along with the progression of the market and the needs of consumers. It is for this reason that Intuit is modifying QuickBooks Online pricing and transforming their discount program.

So, new QuickBooks Online Pricing and a new discount program… You are probably wondering, “How will this affect me?” Keep reading to learn more about what is changing, how this will this affect you, and how to benefit most from it.

The What, When, Where, Why, and How of Very Recent QuickBooks Online News

All of your questions and more will be answered in the following sections of this article. We will discuss what’s happening, when it’s happening, where you can find help, why it’s happening, and how you can benefit the most from it.

Without further ado, let’s get into it!

What is Changing?

Pricing for the following QuickBooks Online products is increasing.

• QuickBooks Online: Essentials, Plus, and Advanced
• Online Payroll: Core, Premium, and Elite
• QuickBooks Time (formerly TSheets): Premium and Elite

When Will the New QuickBooks Online Pricing Begin?

We have broken down the timeline of events and organized them by how you are billed for your product.

Important Note: All New and Existing subscriptions purchased through Intuit Direct will still receive a “12-Month Only” discount. All New and Existing subscriptions purchased through Out of the Box Technology will still receive a perpetual (lifetime) discount.

I am billed by Intuit Direct

• As of July 15, 2021: All new subscriptions (starting on or after this date) and subscriptions that are upgraded or downgraded, will be billed the new rate based on the chart below.
• As of August 1, 2021: All existing subscriptions that are billed by Intuit directly begin to bill at the new rate based on the chart below.

I am billed by Out of the Box Technology

• Prior to July 15, 2021, our offering for QuickBooks Online Essentials and Plus subscriptions include a 20% perpetual (lifetime) discount.
• Prior to July 15, 2021, our offering for QuickBooks Online Advanced subscriptions include a 15% perpetual (lifetime) discount.
• As of July 15, 2021: All EXISTING subscriptions that do not cancel, upgrade, or downgrade will have their perpetual discounts grandfathered in.
  • 20% perpetual discount for QuickBooks Online Essentials and Plus
  • 15% perpetual discount for QuickBooks Online Advanced
• As of August 1, 2021: All existing Intuit direct billed customers will be billed at the new rate in the table above. Customers will continue to receive any discounts that are current applied.
• As of September 1, 2021: All wholesale billed subscriptions will be billed at the new rate in the table above.

Important Note: All plans purchased before July 15, 2021 will have their discounts grandfathered in and will remain in effect so long as the subscription is not cancelled, upgraded, or downgraded.

Where to Find Help (Especially with New QuickBooks Online Pricing)

As one of the few Elite QuickBooks Solution Providers (QSP), we are well equipped to answer all your questions. We have a large team of qualified, certified ProAdvisors with over 360 years of combined QuickBooks experience. Our motto is “Anything + Everything QuickBooks,” and we provide a one-stop-shop of end-to-end QuickBooks solutions. So, whatever your request, you can count on us to get it done right.

Sure, we offer all supported QuickBooks products, and at the best prices, but that’s not all! Our most popular offerings include Business Services and Data Services. So don’t waste another minute and Talk with an Expert NOW! Toy can also Request a free consultation!

Why is the New QuickBooks Online Pricing Increasing?

This is a simple concept to grasp and a hard pill to swallow when you are not on the receiving end of it. It’s like the saying goes, “You have to spend money to make money.” One of the ways businesses raise cash to spend on upcoming expenditures is by raising prices and decreasing discounts. This allows firms to reinvest in their ecosystem of products and services and accelerate innovations based on customer feedback. This is all fine and dandy except for two big things…”What is this extra cash going to be spent on?” And “How do I know if it will be beneficial to me?” Well, we’re going to share the answers to those two questions here.

What is this extra cash going to be spent on?

The short answer: R&D (Research & Development) and Service & Support.

The longer answer: Improvements to customer service, improvements to technical support, and the delivery of Innovations based on customer feedback, such as:

• Bill Pay: an embedded bill pay capability that gives you more flexibility to pay bills online from QuickBooks.
• Tagging: create custom tags and reports to understand where you’re spending money and how you can be more profitable.
• QuickBooks Cash: a small business bank account with no monthly fees, industry-leading APY (annual percentage yield), and Instant Deposit* at no extra cost, if eligible.
• and much more!

Be sure to view our blog for updates as some of these new innovations are released!

How do I know if it will be beneficial to me?

Price increases enable Intuit to constantly reinvest in their ecosystem of products and services to deliver more value for businesses. You will benefit from Intuit’s reinvestment if you utilize Intuit’s customer service, technical support, or any features in QuickBooks that were inspired by customer feedback. Keep in mind that you can easily submit your feedback and contribute your ideas to QuickBooks innovation by clicking here.

Also, if you feel that you are not getting the most out of your QuickBooks subscription/software, Talk with an Expert. You can also Request a free consultation!

How the New QuickBooks Online Pricing Will Affect You

Well, that depends on a few different factors and the answer is unique to every business owner. However, we’ve broken it down to a two category approach. If you are in one of the two categories, then we’ve made our recommendation for you. Ultimately, the bottom line, to help you protect your bottom line, is to take action before July 15th, 2021 to save the most money.

The two categories are:

Those who are currently using a QuickBooks Desktop software solution, such as Pro or Premier.

If you are in this category, especially if you’ve been considering the move to QuickBooks Online, then listen up!

Before July 15, 2021 is the best time to switch to QuickBooks Online! Why? Because you will receive a perpetual (lifetime) discount of 20% (15% for QuickBooks Online Advanced) – for as long as you do not cancel, upgrade, or downgrade your subscription. Your 20% perpetual (lifetime) discount (15% for QuickBooks Online Advanced) will be grandfathered in and you will maximize your savings. Also, request a free consultation with our experts to ensure you are getting the most out of your QuickBooks Online Solution.

Those who are currently using QuickBooks Online, and are considering upgrading their subscription.

Note: Upgrading your subscription means changing plans, increasing number of user licenses, and/or purchasing any add-on services.

The terms of Intuit’s QuickBooks Online price increase require new and newly upgraded/downgraded subscriptions to adopt the new discount. This means that on and after July 15, 2021, you will no longer be able to upgrade/downgrade without losing your discount. So, if you’re planning on making changes, do it before July 15, 2021 so you will be grandfathered in with a perpetual (lifetime) discount of 20% (15% for QuickBooks Online Advanced). Also, request a free consultation with our experts to ensure you are getting the most out of your QuickBooks Online Solution.

So, what are you waiting for? July 15, 2021 will come and go quickly. Make the switch or upgrade NOW!

Final Thoughts?

The most important takeaway here is to remember where you can find help. Out of the Box Technology has your back. You can always Talk with an Expert for guidance and support. You can also request a free consultation! We’re always here to support your success.

Out of the Box Technology believes in honesty, integrity, and transparency. Our experts wanted this blog to be written after dissecting and interpreting Intuit’s messaging. They knew that folks would probably need help with breaking down and digesting the content contained within Intuit’s communication. So… Click here to view Intuit’s original message from Ariege Misherghi and Ted Callahan, on behalf of the QuickBooks® Accountant team.