Factsheet: Talking with clients about QuickBooks pricing changes

Factsheet: Talking with clients about QuickBooks pricing changes

Pricing and policy changes can be challenging, especially when you may have already planned out your business year. Additionally, as accountants, you are seen as the authority to your small business clients on all financial matters, and they may be looking to you to explain the changes and reasons why this is happening.

We developed this factsheet to help you have a smooth conversation with your clients about today’s price change announcement. We also understand the important role you play in recommending our products to your clients. Therefore, our goal with this factsheet is to help you communicate that these QuickBooks® price changes are a result of a business decision made by Intuit.

1. Set up the situation:

Intuit® provides you with advance notice of upcoming price increases so you can be in-the-know before your clients. In this instance, we are informing you of price changes on June 1 and will be informing small business customers who pay for their own subscriptions on July 1.

As a principle, we do not communicate pricing and discount information with your firm-billed (current wholesale discount) clients, understanding that accounting professionals have different practices for billing clients for their software.

We encourage you to use this month to advise your clients of the upcoming price increase so that when they learn about it, they are not alarmed and can have a conversation with you on how, if at all, it may impact them.

2. Lead with facts:

Be prepared to share and explain what is changing. Here’s is a summary of the price changes we announced on June 1:

QuickBooks Online price changes

Effective for new and existing subscriptions

Dates effective:

  • July 15, 2021: All new subscriptions, upgrades, or downgrades.
  • Aug. 1, 2021: Existing customers who pay directly for their subscription. These customers will receive notification beginning on July 1, 2021.
  • Sept. 1, 2021: Accountant-billed subscriptions enrolled before July 15, 2021 with the wholesale discount. These customers will not receive notification from Intuit. Affected accountants received this notification on June 1.

3. When possible, have a conversation:

If you have the opportunity, it’s always more pleasant to have a conversation with your clients about pricing rather than sending an email. You can always follow up with an email or letter later, if so desired. If your client base is too large to make personal calls, call your major clients first, then send emails to smaller clients. Include a confirmation receipt notification with your emails to verify customers received and opened your email. A best practice is to also end your email with an opportunity for a client to call you directly if they have questions.

4. Tell them what they stand to gain:

There is a reason why price increases happen. Arm yourself with the value that the QuickBooks Online product brings to each and every client. The following points are examples that we encourage you to leverage and use:

 Price increases enable Intuit to constantly reinvest in their ecosystem of products and accelerate innovations based on customer feedback. Some recent innovations for QuickBooks Online include:

  • 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.

To learn more, see what’s new in QuickBooks. 

Here is a sample email you can leverage to communicate with your clients:

 Dear client, 

On June 1, Intuit announced upcoming price increases for three QuickBooks Online products.

  • QuickBooks Online Essentials will increase from $40 to $50 per month.
  • QuickBooks Online Plus will increase from $70 to $80 per month.
  • QuickBooks Online Advanced will increase from $150 to $180 per month.

As a result, your monthly invoice will increase by $___ beginning on ____.

Price increases enable Intuit to constantly reinvest in their ecosystem of products to deliver more value for businesses like yours. If you have any questions about these changes, or would like to make sure you’re taking advantage of the latest additions to your QuickBooks product, please let me know. 

Sincerely,

Your trusted accountant or bookkeeper

In closing

We thank you for your continued partnership and look forward to delivering even more value for you and your clients in the future.

Disclaimers

*Bill Pay. Bill Pay services powered by Melio with funds held by Evolve Bank & Trust or Silicon Valley Bank (members of the FDIC and the Federal Reserve). Requires a Melio account and acceptance of their Terms of Service and Privacy Statement. Subject to additional terms, conditions, and fees.

*Instant deposit. Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria. Standard payment processing fees apply to each transaction. Deposits are sent to the bank account linked to your QuickBooks Debit Card or, at your election, another eligible debit card in up to 30 minutes from the initiation of the deposit. Deposit times may vary for third party delays.