Reviews and news about accounting and financial software
AI accounting startup Basis closed $100 million Series B funding at a $1.15 billion valuation, led by Accel and Google Ventures. The platform claims 30% adoption among top-25 US firms, with reported efficiency gains of 20-50%. First autonomous 1065 completion demonstrated.
QuickBooks data shows business ownership overtaking savings accounts as a wealth strategy. 66% are planning or actively thinking about it. Accountants have a compliance workload incoming.
Xero has integrated Melio's payment processing directly into its US platform, removing the need for separate banking portals. Existing customers must set up Melio by 31 March 2026 to maintain service.
Mustafa Suleyman, Microsoft's AI CEO, claims most white-collar work, including accountancy, will be automated within two years as AI approaches 'human-level' performance. The accounting profession remains sceptical, citing costs, data security, and the gap between vendor claims and reality.
Intuit and Anthropic announced a multi-year partnership on 24 February 2026, integrating Claude AI directly into QuickBooks and the broader Intuit platform. Mid-market businesses will be able to build custom, compliance-aware AI agents without technical expertise, starting spring 2026.
Firms are training staff on AI platforms while 82% of employees operate at burnout risk. The strategic judgment and client insight AI can't replicate require cognitive capacity most people don't currently have.
Intuit is forcing all US accounting firms off QuickBooks Online Accountant onto Intuit Accountant Suite by year-end. The Core tier is free, but AI features and Books Close cost $149/month. QuickBooks Enterprise Desktop users get a separate, pricier suite.