QuickBooks 2018 R13 Released
Intuit has released QuickBooks 2018 R13, which provides an integration with QuickBooks Capital as well as access to QuickBooks Payments services for payroll customers.
This update should be available via automatic updates soon, if it isn’t already. You can also go to the QuickBooks Update site to download the patch.
QuickBooks Capital
I’m not going to provide a detailed evaluation of QuickBooks Capital itself. It isn’t something that I’ll use for my business, so I won’t have any experience with it.
Essentially, this is a way to get financing for a small business right through your QuickBooks program. This has been available through QuickBooks Online for awhile now, and now they are extending it to QuickBooks desktop versions. I’m not clear on how exactly the user interface will work, but I’m guessing that this will open up a captive browser window so you can work with it online.
Intuit will look at a number of factors in determining if you qualify for financing:
- The number of years you have been in business (usually they want 2 years minimum).
- How much revenue your business generates (usually they are looking for a minimum of $75,000)
- Your personal credit history.
- In addition, you will be giving them access to your QuickBooks database, so they can see details about your business. I don’t know exactly what details they will see.
Here are a few links for information about this feature. Note that some may say that this is only found in QuickBooks Online, as the desktop integration is very new:
- QuickBooks Capital for Desktop customers (Intuit website)
- QuickBooks Capital FAQ (Intuit website, some may only apply to QuickBooks Online)
- QuickBooks Capital Partners (Intuit website, Intuit is working with multiple partners to provide the actual financing)
- Merchant Maverick Review of QuickBooks Capital (slightly out of date but pretty much still accurate)
- Finder Review of QuickBooks Capital business loans (interesting review. It says that you will need to make weekly repayments, but the Intuit website says that there can be either weekly or monthly payments)
- Fundbox (one of the QuickBooks “partners” in this program, they’ve been around for awhile)
None of these links are to a truly independent review – if you see a review from someone who isn’t involved in the program or who isn’t a loan broker of some sort themselves, would you leave a comment here with a web address? Please note that if you leave a comment with a web address my spam system will not publish it right away, I will have to review the link first and approve it, which may take several days. My apologies for the delay.
Again, I’m not reviewing this feature myself. I have to say that I’m a bit concerned about providing the detailed kind of access to your QuickBooks database that might be a part of this. It is something that should be investigated, and thought about. When this was a part of QuickBooks Online (QBO) I wasn’t quite so concerned, because heck, if you use QBO, Intuit has all your data anyways. Access to QuickBooks desktop data is something else – many people like the desktop product exactly because Intuit does NOT have access to it normally. However, this program can be a very fast way to get financing. You may get your answer immediately!
Category: QuickBooks 2018
About the Author (Author Profile)
Charlie Russell is the founder of CCRSoftware. He’s been involved with the small business software industry since the mid 70’s, focusing on inventory and accounting software for small businesses. Charlie is a Certified Advanced QuickBooks ProAdvisor.
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I’m offended by the offers for services in Quickbooks and it’s getting worse. I pay them money for an enterprise software product, I don’t expect to be pitched inside of that software. I hope others feel the same way and put an end to this.
I hear you! This kind of thing seems to go through cycles with Intuit. Back in QuickBooks 2010 (and before) we were getting hit by in-product advertisements all over, and it was very annoying. People complained a lot, and Intuit added a preference setting to turn off that kind of advertising. Then, over the years, it has started creeping back in.
However, I don’t see this kind of service feature going away in the future. Intuit is banking very heavily on getting revenue from added “services” like this, and the financial sector (loans, financing) is a key a part of their plans for the future. I think it was reasonable with QuickBooks Online, because they already have your data. But I’m not a fan of using this feature in QuickBooks desktop products.