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Intuit's QuickBooks 2002 Is "Right For Your Business"
Software Leader Introduces Premier Products For Small Businesses and Accountants
MOUNTAIN VIEW, Calif. - November 27, 2001 - Intuit Inc. (NASDAQ:INTU), the leader in small business accounting software, today announced its new QuickBooks® 2002 family of products, including QuickBooks Basic, QuickBooks Pro, QuickBooks Premier and QuickBooks Premier: Accountant Edition. Delivering on its "Right for My Business" strategy designed to meet the more complex accounting needs of small businesses and offer industry-specific solutions, the company is introducing QuickBooks Premier 2002 for small business owners and QuickBooks Premier: Accountant Edition 2002 for accountants who work with small business owners. In addition, through the QuickBooks Solutions Marketplace Web site, QuickBooks users can purchase third-party applications that work with QuickBooks Premier 2002 or Pro 2002 products to meet vertical or business-specific needs.

"We maintain an ongoing dialogue with our QuickBooks customers. Their feedback is a valuable tool which aids us in the development of products that help them achieve success," said Dan Levin, vice president and general manager, QuickBooks Management Solutions. "The QuickBooks 2002 products that we are announcing today represent our most robust solutions to date, built to meet the diverse needs of customers and with features that make our products right for their businesses."

With advanced accounting functionality and a host of integrated services, QuickBooks Premier products will help business users increase productivity and more effectively manage their money. Designed for businesses with more complex accounting needs than traditional QuickBooks users, QuickBooks Premier combines the core accounting features and functionality of QuickBooks, with optional remote access capabilities, easier reconciliation reporting, and more general journal functionality.

Helping Small Businesses Get Paid Faster
Cash management is one of the greater challenges for small businesses; getting paid on time is critical. QuickBooks 2002 offers customers powerful new services and features to help small businesses with this challenge. QuickBooks Credit Check Services, powered by D&B (NYSE:DNB), the leading provider of global business information and technology solutions, is a compelling new suite of optional services enabling access to credit information within the small business owner's workflow. With 61 percent of QuickBooks users extending credit to their customers1, these services are designed to help small business owners make proactive and informed business decisions about extending credit. D&B credit information within QuickBooks shows the level of credit risk posed by prospective and current commercial customers and is easily accessible. Within their QuickBooks 2002 software, small business owners also have easy access to D&B marketing and collection services including the ability to provide payment reporting to D&B.

With QuickBooks 2002, optional online billing is enhanced to support credit card payments, in addition to Internet-based payments. And customers now have the ability to apply one payment to multiple invoices across different jobs.

New Data Integration With Other Applications
New this year, QuickBooks Premier and Pro 2002 will exchange data with a broad range of third-party businesses and industry-specific applications. The Intuit Developer Network, offering more than 25 third-party applications beginning in December, will enable users to exchange data between these editions of QuickBooks and other critical business applications, minimizing double data entry and reducing errors to save time and increase productivity.

Third party applications range from those addressing the needs of unique vertical industries, like retail and construction, to those addressing more general needs such as customer relationship management (CRM), shipping management, or handheld wireless data entry. The third-party applications will be made available for purchase through the third-party application developers' regular marketing and sales channels. More information on these specific applications is available at the QuickBooks Solutions Marketplace at http://marketplace.intuit.com. (See related release, Nov.27, 2002, "Intuit Releases First-Ever QuickBooks SDK to Third-Party Developers.")

Efficient Reporting & Enhanced Functionality
Fast, accurate reporting is an important part of any successful small business. QuickBooks 2002 users will benefit from enhanced reporting capabilities, including enhanced column sorting and additional customization by adding customer and vendor information. With more than 100 new report templates that help gain greater insight into business finances, Premier 2002 and Premier: Accountant Edition 2002 QuickBooks users can share reports with their small business accountant to optimize productivity. Small businesses can save time with an improved sales tax feature that simplifies the task of accurately classifying the reasons why an item is non-taxable. The new QuickBooks Help and Support Center - which utilizes WexTech Systems' AnswerWorks natural language search engine - allows users to simply type in a question and easily search the help database for the answer.

Specific QuickBooks Premier 2002 Features include:

  • QuickBooks Expert Analysis and Business Optimization tool that helps business owners examine their businesses with in-depth recommendations and analysis2
  • QuickBooks Remote Access service powered by WebEx enables business owners to obtain QuickBooks files from home or on the road with 12 months pre-paid service3
  • Password protected close date provides greater accounting control4
  • Comprehensive tips and shortcuts are offered in The Official Guide to QuickBooks CD-ROM ($29.95 retail value, included)

More New and Improved Features in All Desktop QuickBooks 2002 Products include:

  • Optional QuickBooks Credit Check Services powered by D& B provides greater insight into extending credit to customers.
  • New "Find" feature makes it easier to locate specific transactions faster
  • Optional Basic Payroll service offers access to payroll tax tables via disk5
  • New e-mail forms can include company information and logo
  • Multiple estimates per job makes tracking potential jobs much more efficient

Pricing and Availability QuickBooks Basic 2002, QuickBooks Pro 2002, QuickBooks Premier 2002 and QuickBooks Premier: Accountant Edition 2002 are expected to be available by mid-December for suggested retail prices of $179.95, $279.95, $499.95 and $499.95 respectively. Upgrades to QuickBooks Basic 2002, QuickBooks Pro 2002, QuickBooks Premier 2002 will also be available for $99.95, $179.95 and $379.95 respectively. Customers can learn more about the QuickBooks 2002 family of products and other services by visiting www.quickbooks.com/2002 or by calling 1-888-2-INTUIT (1-888-246-8848).

Optional services may require additional subscription or service fees and are subject to change. Internet access is required for Online Billing and other optional services. Application approval required for certain Online Billing services. Terms, conditions, features, service options and pricing subject to change.

1. Intuit Internal Concept Study, March 2001
2. Recommended for use by 12/31/02 based on time sensitive industry comparisons. Recommendation may not take into account all critical factors of a specific business.
3. Twelve months of service included at no charge, valid for customers who purchase and install QuickBooks Premier 2002 software before December 31, 2002. Twelve months of service begin at the time of installation of QuickBooks Premier software. After 12 months, Premier users can subscribe to the service for a fee.
4. Recommended for use by 12/31/02 based on time sensitive industry comparisons. Recommendation may not take into account all critical factors of a specific business.
5. Expected in March 2002
 
About Intuit

Intuit Inc. (NASDAQ: INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken®, QuickBooks®, Quicken TurboTax® and Quicken LoansSM simplify personal finance, small business management and payroll processing, tax preparation and filing and home loans. 

Founded in 1983, Intuit has annual revenue of more than $1 billion and reaches 25 million customers with more than 5,000 employees in 13 states and four countries. More information can be found at www.Intuit.com.

 

Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, QuickBase, TurboTax, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

This press release includes "forward-looking" statements about future financial results, future products, services and features or other events that have not yet occurred, including but not limited to statements relating to Intuit's QuickBooks products for the desktop and/or the web and/or related services ("QuickBooks Properties"). Investors should be aware that actual results may differ materially from Intuit's expressed expectations because of risks and uncertainties about the future. Intuit will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Risks and uncertainties that may affect future results and performance include, but are not limited to, the following: certain features still need to be completed and/or integrated into the QuickBooks Properties, and are subject to risks and uncertainties involved in the product development process, including technological difficulties and possible delays. The proposed software/services are subject to competition via other software, the World Wide Web or other traditional means. The anticipated benefits of the proposed software/services to Intuit will depend on a number of variables, including the rate at which customers upgrade to the 2002 version of the products, customer acceptance of the proposed software/services, and the level of satisfaction of third party participants. Intuit cannot predict these upgrade, adoption and acceptance rates. Customers may not adopt the software/services in sufficient numbers for Intuit to reach anticipated revenue levels. Additional information about factors that could affect future results and events is included in Intuit's fiscal 2001 Form 10-K and subsequent reports filed by Intuit with the Securities and Exchange Commission.

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