ADP vs QuickBooks

July 02, 2023 | Author: Adam Levine
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ADP
Fast, easy, and designed specifically for small businesses. From payroll and tax filing to HR, time tracking, and more, ADP helps Small Business succeed. Running a small business is 24/7 job. That’s why we make it easier with simple, reliable small business payroll and expert HR management services to help you make better, more informed decisions about your business.
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QuickBooks
QuickBooks Online puts you in control of your finances, your time, your business—and where you work. From setup to support, QuickBooks Online makes your accounting easy. With simple tools to get you started, free support, and a money-back guarantee, QuickBooks Online is the effortless choice.
ADP (Automatic Data Processing) and QuickBooks are both widely used software solutions, but they serve different purposes and cater to different aspects of business operations.

ADP is primarily known for its comprehensive payroll and human resources (HR) solutions. It offers features such as payroll processing, benefits administration, time and attendance tracking, tax compliance, and HR management. ADP targets businesses of all sizes and focuses on providing robust payroll processing capabilities and integrated HR solutions to streamline and automate HR operations.

QuickBooks, on the other hand, is a popular accounting software designed for small and medium-sized businesses. It offers features for bookkeeping, invoicing, expense tracking, bank reconciliation, and financial reporting. QuickBooks helps businesses manage their financial records, track income and expenses, and generate financial reports. It is renowned for its user-friendly interface, extensive third-party integrations, and wide range of accounting functionalities.

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ADP vs QuickBooks in our news:

2023. Intuit launches generative AI–powered digital assistant for small businesses and consumers



Intuit, the prominent U.S. financial and accounting software company, has introduced its inaugural customer-centric generative AI-driven solution known as Intuit Assist. Functioning as a digital assistant, it is seamlessly integrated into Intuit's suite of platforms and products, including TurboTax, Credit Karma, QuickBooks, and Mailchimp. With a consistent user interface, Intuit Assist leverages contextual datasets to deliver personalized recommendations to the company's vast customer base of over 100 million small businesses and consumers worldwide. This innovative offering also facilitates human assistance through Intuit's live platform when necessary. The digital assistant was created using GenOS, Intuit's proprietary operating system based on generative AI, which was launched in June to empower developers in incorporating AI across the company's product portfolio.


2020. Intuit acquires inventory management software TradeGecko



Intuit, a US-based business and financial software company, has made a deal to purchase TradeGecko, a Singaporean software-as-a-service company specializing in online inventory and order management software for small businesses. The acquisition, valued at $80 million, aims to combine TradeGecko's inventory and order management capabilities with Intuit's QuickBooks accounting platform. This integration will enable QuickBooks Online customers to effectively launch and oversee products across online and offline sales channels. Additionally, they will be able to handle orders and inventory fulfillment from different channels and multiple inventory locations, as stated in the announcement.


2018. ADP acquired workforce management service WorkMarket



Payroll provider ADP has acquired WorkMarket, a startup specializing in workforce management software designed for a diverse range of employees and contractors. The software aims to provide a unified interface for efficiently managing an extended workforce, encompassing various workers with different employment statuses, such as contractors, freelancers, and full-time employees. WorkMarket offers comprehensive features including payment systems, extended employee network management, and a marketplace for assembling a workforce that complements a company's operations beyond the scope of traditional full-time employees. This acquisition empowers ADP to offer enterprises an expanded suite of workforce products, strengthening its position as a leading provider of payroll solutions.


2017. Intuit acquired time-tracker TSheets



Intuit, the company renowned for products like QuickBooks, has recently made a significant acquisition. They have acquired TSheets, a time-tracking service and employee scheduling app with a customer base exceeding 35,000, for a total of $340 million. Given the substantial overlap in their target markets, primarily catering to small and medium-sized businesses, it's evident that QuickBooks and TSheets complement each other. In fact, Intuit reveals that the two companies already share 12,000 customers, indicating an existing synergy. This acquisition is not primarily aimed at acquiring new customers but rather at enhancing the QuickBooks ecosystem. It's worth noting that TSheets already integrates with QuickBooks. Throughout my discussions with Intuit in recent months, it has become apparent that their current product plans revolve around minimizing friction, particularly in relation to QuickBooks, aligning with their commitment to creating seamless experiences for their users.


2015. Payroll giant ADP cut off Zenefits small business clients



Corporate payroll company ADP has implemented a restriction that prevents small business clients who use the ADP RUN payroll system from sharing data with Zenefits. This decision was made due to concerns about Zenefits' data security practices, as they were found to be extracting sensitive information, including unmasked Social Security numbers and employee banking details, in a manner that does not align with ADP's data security standards. Zenefits expressed their dissatisfaction with ADP's actions, highlighting that this change was sudden and unexpected for their clients. Zenefits offers human resources (HR) services to small and medium businesses and collaborates with various third-party partners, such as ADP, to facilitate tasks like payroll processing and insurance provision.


2014. Intuit acquired cloud integration service ItDuzzit



Intuit is further expanding its cloud platform for small and medium-sized businesses (SMB) through the acquisition of itDuzzit, a startup offering integration tools for connecting various web and mobile apps within enterprises. This can be likened to the functionality of IFTTT but tailored for business needs. Intuit's intention is to incorporate itDuzzit into its QuickBooks platform, which not only provides accounting services but also offers a growing range of additional services for businesses. itDuzzit competes with similar platforms like Zapier and Cloudwork. The platform currently supports integration with numerous apps, including Asana, Box, Coinbase, Freshbooks, PayPal, and Shopify, with the promise of adding more apps in the future. In essence, this acquisition allows Intuit to provide its customers with a seamless way to utilize these integrated apps on its platform, alongside Intuit software, even if Intuit doesn't have a direct hand in each of those services.


2014. Intuit buys Lettuce for $30M to add inventory and order management to Quickbooks



Intuit has expanded its portfolio by acquiring Lettuce, a platform designed for online order and inventory management, aiming to solidify its position as the leading provider of cloud-based office solutions for small and medium businesses. Unlike typical acquisitions where the purchased product is either shut down or its technology repurposed for a new service, Intuit plans to keep Lettuce functioning as an independent application. Additionally, Intuit intends to enhance the integration of Lettuce into its flagship small and medium business accounting product, Quickbooks, building upon the existing integration to provide a more comprehensive solution.


2008. Intuit launches QuickBooks Online Edition



Intuit dominates the accounting software industry, with its flagship product QuickBooks enjoying immense popularity among small and medium-sized businesses, boasting over three million users. In response to the increasing demand for web-based and online accessible solutions, Intuit introduced QuickBooks Online Edition (QBOE). Although QBOE has been available for several years, its adoption has been gradual yet steady. QBOE fulfills essential business requirements, offering comprehensive double-entry accounting capabilities that enable accurate balance sheets, profit and loss statements, and trial balances. The home screen serves as the starting point for users, distinguishing QBOE from other online accounting applications that aim to present a "dashboard view" of the business. Instead, QBOE presents a process diagram-style interface, allowing users to navigate through different functional areas of the accounting system. The Basic edition of QBOE provides fundamental features such as accounts receivable, expense tracking, and check printing, albeit with somewhat limited functionality considering its $10 monthly cost. On the other hand, the Plus version enriches the offering with additional features like estimates and invoice customization, time tracking, recurrent billing, budgeting, and online billing.


2008. Accounting on the go: Quickbooks for iPhone and Blackberry



Quickbooks, a leading accounting software for small businesses, has recently launched web interfaces for Blackberry and iPhone devices. The iPhone version, displayed on the left, features a sleek user interface that provides convenient access to all your financial information stored in Quickbooks Online. At first glance, the web app presents a simple overview of various aspects, including outstanding payments, payables, vendors, employees, and bank accounts. However, as you delve deeper, you discover a wealth of detailed information. While this web app appears to be an excellent tool for referencing financial data, there are a few areas where it falls short. It would have been nice to have a standalone app available through the App Store for the iPhone, although it's not entirely necessary. The most significant drawback is the inability to edit or add data, which, in my opinion, would be a primary use case for this app. It's worth noting that this is the initial version of the app, and additional functionality may be added in future updates. If you are already a Quickbooks Online user, these new web interfaces for Blackberry and iPhone provide additional benefits. Although they may not be the sole deciding factor in switching to Quickbooks Online, they can certainly contribute to the decision-making process.

Author: Adam Levine
Adam is an expert in project management, collaboration and productivity technologies, team management, and motivation. With an extensive background working at prestigious companies such as Microsoft and Accenture, Adam's in-depth knowledge and experience in the field make him a sought-after professional. Currently, he has ventured into entrepreneurship, owning a thriving consulting and training agency where he imparts invaluable insights and practical strategies to individuals and organizations, empowering them to achieve their goals and maximize their potential. You can contact Adam via email adam@liventerprise.com