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Encyclopedia > Intuit
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Intuit Inc.
Type Public (NASDAQ: INTU)
Founded Palo Alto, California (1983)
Headquarters Mountain View, California, USA
Key people Scott Cook, founder
Tom Proulx, initial developer
Steve Bennett, CEO
Industry Computer software
Products Personal finance, accounting and tax return software
Revenue $2.038 billion USD (2005)
Employees 7,300
Website www.intuit.com

Intuit Inc. (NASDAQINTU) is an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals. It is incorporated in Delaware and headquartered in Mountain View, California. Image File history File links Unbalanced_scales. ... Intuit, Inc. ... NASDAQ in Times Square, New York City. ... Location of Palo Alto within Santa Clara County, California. ... 1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ... For the community near Martinez, California, see Mountain View, Contra Costa County, California. ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  Ranked 3rd  - Total 158,302 sq mi (410,000 km²)  - Width 250 miles (400 km)  - Length 770 miles (1,240 km)  - % water 4. ... Scott Cook (Intuit, Inc. ... It has been suggested that this article or section be merged with Computer program. ...  United States Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. ... Accounting software is computer software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll and trial balance. ... Look up Tax return in Wiktionary, the free dictionary For tax returns in the United States see Tax return (United States); for tax returns in Canada see Tax return (Canada). ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... A Web site (or colloquially, Website) is a collection of Web pages, images, videos and other digital assets that is hosted on a Web server, usually accessible via the Internet or a LAN. A Web page is a document, typically written in HTML, that is almost always accessible via HTTP... NASDAQ in Times Square, New York City. ... Computer software (or simply software) refers to one or more computer programs and data held in the storage of a computer for some purpose. ... The term company may refer to a separate legal entity, as in English law, or may simply refer to a business, as is the common use in the United States. ... Tax preparation is the act of preparing the filing of income taxes. ... A small business may be defined as a business with a small number of employees. ... Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ... Official language(s) None Capital Dover Largest city Wilmington Area  Ranked 49th  - Total 2,491 sq mi (6,452 km²)  - Width 30 miles (48 km)  - Length 100 miles (161 km)  - % water 21. ... For the community near Martinez, California, see Mountain View, Contra Costa County, California. ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  Ranked 3rd  - Total 158,302 sq mi (410,000 km²)  - Width 250 miles (400 km)  - Length 770 miles (1,240 km)  - % water 4. ...

Contents

Profile

Intuit headquarters in Mountain View

The company was founded in 1983 by Scott Cook and Tom Proulx in Palo Alto, California. Image File history File links Download high-resolution version (1381x967, 361 KB) The headquarters of Intuit Inc. ... Image File history File links Download high-resolution version (1381x967, 361 KB) The headquarters of Intuit Inc. ... 1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ... Scott Cook (Intuit, Inc. ... Location of Palo Alto within Santa Clara County, California. ...


Intuit makes the popular personal finance programs Quicken and TurboTax (and its Canadian counterpart, QuickTax), as well as the small business accounting program QuickBooks. In addition, they produce QuickBooks Point of Sale solution for small retailers, the market leading professional tax solutions ProSeries and Lacerte, and the Web-based corporate workgroup productivity solution QuickBase. Intuit Logo Intuit, Inc. ... Intuit Logo Intuit, Inc. ... Intuit Canada is a developer of e-finance solutions, including personal finance management, small business accounting and tax preparation software, as well as Web-based services. ... A small business may be defined as a business with a small number of employees. ... For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ...


The company maintains a number of foreign sales offices. It has significant R&D activity in Intuit Canada headquartered in Edmonton, Alberta and Intuit India headquartered in Bangalore, India. International product versions are now predominantly produced by third-party localizers or licensees. Intuit Canada is headquartered in Edmonton, Alberta and has offices in Calgary, Toronto, Sherbrooke and Montreal. ... Edmonton is the capital of the Canadian province of Alberta, situated in the north central region of the province, an area with some of the most fertile farm land on the prairies. ... The introduction to this article provides insufficient context for those unfamiliar with the subject matter. ... Bangalore (ಬೆಂಗಳೂರು in Kannada) is the capital and largest city of the state of Karnataka in India. ...


History

Intuit was reportedly conceived when Scott Cook, then an assistant product manager at Procter & Gamble, realized that personal computers would lend themselves as replacement for paper-and-pencil based personal accounting. On his quest to find a programmer he ended up running into Tom Proulx at Stanford. The two started Intuit, which initially operated out of a modest room on University Avenue in Palo Alto. The first version of Quicken was coded in Microsoft's Compiler BASIC for the IBM PC and UCSD Pascal for the Apple II by Tom Proulx and had to contend with a dozen serious competitors. Intuit struggled financially until they found their formula for success, which revolved around direct marketing campaigns, favorable reviews in industry and consumer magazines and word of mouth from satisfied customers. Intuit's focus on usability and customer support in its early years was legendary. Procter & Gamble Co. ... Stanford may refer: Stanford University Places: Stanford, Kentucky Stanford, California, home of Stanford University Stanford Shopping Center Stanford, New York, town in Dutchess County. ... Downtown Palo Alto Palo Alto is a city in Santa Clara County, in the San Francisco Bay Area of California, USA. Palo Alto is located at the northern end of the Silicon Valley, and is home to Stanford University (which is technically located in an adjacent area — Stanford, California... BASIC (Beginners All-purpose Symbolic Instruction Code) is a family of high-level programming languages. ... UCSD Pascal was a specific implementation of the programming language Pascal which used the p-Code machine architecture. ... The Apple II was one of the most popular personal computers of the 1980s. ... Usability is a term used to denote the ease with which people can employ a particular tool or other human-made object in order to achieve a particular goal. ...


Although by 1988 Quicken became a best-seller in its market, the company wasn't a major success until the advent of Windows 3.0 in early 1990s, when sales of Quicken grew explosively. Roughly around the same time the company engaged John Doerr of Kleiner Perkins Caufield & Byers and diversified its product lineup. In 1993 Intuit went public and used the proceeds to make a key acquisition: the tax-preparation software company Chipsoft based in San Diego. The time after the IPO was marked by rapid growth and culminated by buyout negotiations with Microsoft in 1995, when Intuit's market capitalization reached $2 billion. 1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ... Windows 3. ... For the band, see 1990s (band). ... L. John Doerr (born June 29, 1951 in St. ... Kleiner, Perkins, Caufield & Byers is a major Sand Hill Road venture capital firm in Silicon Valley. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... Flag Seal Nickname: Americas Finest City Location Location of San Diego within San Diego County Coordinates , Government County San Diego Mayor City Attorney         City Council District One District Two District Three District Four District Five District Six District Seven District Eight Jerry Sanders (R) Michael Aguirre Scott Peters Kevin... An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ... Microsoft Corporation, (NASDAQ: MSFT, HKSE: 4338) is a multinational computer technology corporation with global annual revenue of US$44. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... Market capitalization, often abbreviated to market cap, is a measurement of corporate size that refers to the current stock price times the number of outstanding shares. ...


When the buyout fell through because of DOJ scrutiny, the company came under intense pressure in late 1990s when Microsoft started to compete vigorously with its core Quicken business. In response, Intuit launched new web-based products and solutions and put more emphasis on QuickBooks and on TurboTax. The company made a number of investments around this time. Among others, it purchased a large stake in Excite and acquired Lacerte Software, a Dallas-based developer of tax preparation software used by tax professionals. It also divested itself of its online bill payment service unit and extended and strengthened its partnership with CheckFree. DOJ headquarters in Washington, D.C. Justice Department redirects here. ... For the band, see 1990s (band). ... For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ... Excite Excite is an Internet portal with an included search engine. ... Dallas redirects here. ...


On November 30, 2006, Intuit announced an agreement to acquire Digital Insight, a leading provider of online banking services, for $1.35 billion.[1] November 30 is the 334th day of the year (335th in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ...


Today, Intuit is one of the largest software companies in the world with about $2 billion in annual revenue and $10.8 billion market capitalization. Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ...


Intuit has been ranked in Fortune Magazine's "Top 100 companies to work for" for the past several years.[2]


Products

Quicken Incorporation Services

Quicken Incorporation is a document filing service


JumpUp

JumpUp (formerly JackRabbit Beta) is a free social networking and resources site for small business owners and/or start-ups. Free tools and services include an interactive business planner, online training for developing a successful business plan, starting costs calculator, cash flow calculator, break even calculator, templates for business planning and sample business plans.


TurboTax

TurboTax is a U.S. tax software package. There are a number of different versions, including TurboTax Deluxe, TurboTax Premier, etc. TurboTax is available for both Federal and state income tax returns. The software is designed to guide users through their tax returns step-by-step. TurboTax became an Intuit product via the 1993 acquisition of its creator, the California-based company Chipsoft. In 2003 Intuit faced vocal criticism for its TurboTax activation scheme.[3] The company responded by removing the product activation scheme from its product. In 2005 TurboTax extended its offering by allowing any taxpayer to use a basic version of its Federal product for free as part of the Free File Alliance. By 2006 that offer has been limited to Free federal online tax prep & e-file for taxpayers whose adjusted gross income is $28,500 or less (or $52,000 for those in the military), and those 50 or under. Tax returns (in the United States) are reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency (California Franchise Tax Board, for example) containing information used to calculate income tax or other taxes. ... The Free File Alliance is a group of companies who work with the United States IRS to provide free electronic tax filing services. ...


TurboTax normally releases its new version in mid-November of each year. TurboTax for Tax Year 2006 was released mid-November 2006.


ProSeries

Intuit's ProSeries tax software evolved from TurboTax and grew over the years to become a full-fledged professional preparer product and a leader in the market. It serves full-time tax preparers. In 2004 two additional ProSeries versions were released - ProSeries Basic and ProSeries Express.


Lacerte

Lacerteis tax preparation software. It is used by professional accountants who prepare taxes for a living. It is a sister product to ProSeries; however, it is generally used by larger firms with more complex workflows and clients. Tax preparation is the act of preparing the filing of income taxes. ... Accountant, or Qualified Accountant, or Professional Accountant, or Accountancy Practitioner, is a certified accountancy and financial expert in the jurisdiction of many countries. ...


Lacerte was originally produced by a company of the same name; this company was acquired by Intuit in 1998. Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...


TaxAlmanac

TaxAlmanac is a free online tax research resource. Content on TaxAlmanac is written by tax professionals from across the country and takes advantage of the knowledge of academia as well as practitioners. The site includes key information including the Internal Revenue Code, Treasury Regulations, Tax Court Cases, and a variety of articles.


Modeled after Wikipedia, TaxAlmanac was launched in May 2005. The June 6, 2005 edition of Time magazine featured an article entitled "It's a Wiki, Wiki World." on Wikipedia in which TaxAlmanac was highlighted as "A Community of Customers". The November 21, 2005 edition of Business Week magazine featured an article titled "50 Smart Ways to Use the Web" in which TaxAlmanac was selected as one of the 50. TaxAlmanac made the short list as one of the 7 in the collaboration category. Wikipedia - Wikipedia, the free encyclopedia /**/ @import /skins-1. ...


QuickBase

A web-based collaborative database application. QuickBase was created when Intuit acquired Turning Mill Software in 1999. The application is hosted by Intuit and sold by subscription.

Quicken 2005 Premier Home & Business
Quicken 2005 Premier Home & Business

Image File history File links Download high-resolution version (1024x768, 44 KB) Screenshot of Quicken 2005 Premier Home & Business. ... Image File history File links Download high-resolution version (1024x768, 44 KB) Screenshot of Quicken 2005 Premier Home & Business. ...

Quicken

Quicken is a personal finance management tool, with a vast array of features. After a few years of ownership Quicken becomes crippleware, in which all Internet features are intentionally disabled according to Intuit's sunset clause.[4] There are several versions of Quicken including, but not limited to: Quicken New User, Quicken Basic, Quicken Deluxe and Quicken Premier. Each version of Quicken also tends to have the release year in the product name, (eg. Quicken Basic 2007). Other editions are listed below. Development of the UK version of Quicken was discontinued in January 2005.  United States Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. ... Crippleware is a form of shareware. ... A sunset clause is commonly a provision of a law passed by a legislature which causes that law to, in effect, repeal itself automatically as of a given date in the future, unless it is extended by another act of legislature. ...


Quicken Kids & Money

Web-based program that aims to help parents teach five- to eight-year-old children how to earn, spend, save and share money.


Quicken Medical Expense Manager

MEM is a desktop software tool for managing healthcare paperwork, tracking claims and payments, and consolidating related information.


Quicken Rental Property Manager

QRPM is a desktop software tool for managing rental properties, tracking tenants, expenses, payments and producing tax reports.


QuickBooks

QuickBooks is the most commonly used small-business accounting and financial management software in the U.S. For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ... It has been suggested that Accounting scholarship be merged into this article or section. ... Motto: (Out Of Many, One) (traditional) In God We Trust (1956 to date) Anthem: The Star-Spangled Banner Capital Washington D.C. Largest city New York City None at federal level (English de facto) Government Federal constitutional republic  - President George Walker Bush (R)  - Vice President Dick Cheney (R) Independence from...


QuickBooks Online Edition

QuickBooks Online Edition is the web-based version of QuickBooks. Some features in the desktop version of QuickBooks are not present in the Online version. Like other web-based software, this is strong for small distributed organizations with limited resources. As of September 2005, a 20% discount was offered for non-profit organizations. Despite being web based it requires Internet Explorer 6.0 or newer, which is currently available only on Microsoft Windows. In software engineering, a web application is an application delivered to users from a web server over a network such as the World Wide Web or an intranet. ... Windows Internet Explorer (formerly Microsoft Internet Explorer), and commonly abbreviated to IE, is a series of proprietary graphical web browsers developed by Microsoft and included as part of the Microsoft Windows line of operating systems starting in 1995. ... Microsoft Windows is the name of several families of proprietary software operating systems by Microsoft. ...


QuickPayroll

QuickPayroll is the company's successor to the QuickPay add-on to Quicken. Sporting a similar interface to QuickBooks version 5, the software is used for processing payroll in house. Updates to tax tables and software updates, once offered on floppy disks by mail are offered online on a yearly subscription basis. A floppy disk is a data storage device that is composed of a disk of thin, flexible (floppy) magnetic storage medium encased in a square or rectangular plastic shell. ...


QuickTax

QuickTax is a Canadian tax software package. The software is designed to guide users through their tax return step-by-step. It is available on CD-ROM or online at QuickTaxWeb.ca, which is free for persons earning less than $20,000. Generally, the Canadian Individual tax returns for any specific year must be filed by April 30 of the following year. ...


Customer Manager

A CRM application that focuses on integration with other tools such as QuickBooks, Microsoft Office Outlook, and more. CRM may stand for: In information technology Customer Relationship Management CIDOC Conceptual Reference Model Compensating Resource Manager Clean Room Model, reverse engineering and recreating of a design without infringing copyrights and trade secrets, see Clean room design Cluster Resources Manager CRM114, a spam filter Communication Resource Manager, part of the... For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ... Microsoft Office Outlook is a personal information manager from Microsoft, and is part of the Microsoft Office suite. ...


Zipingo

Zipingo is a free website where users can rate services such as contractors, restaurants, and other businesses. Ratings and comments can be entered from the website or through Quicken and QuickBooks. A Web site (or colloquially, Website) is a collection of Web pages, images, videos and other digital assets that is hosted on a Web server, usually accessible via the Internet or a LAN. A Web page is a document, typically written in HTML, that is almost always accessible via HTTP... An independent contractor is a person or business which provides goods or services to another entity under terms specified in a contract. ... A typical restaurant in uptown Manhattan A restaurant is an establishment that serves prepared food and beverages to be consumed on the premises. ... Intuit Logo Intuit, Inc. ... For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ...


Intuit Real Estate Solutions

In 2002, Intuit acquired Management Reports International, a Cleveland-based real estate management software firm. Renamed Intuit Real Estate Solutions (IRES), the company offers Residential, Commercial, and Corporate Real Estate management solutions for Windows and the Web.


Intuit Eclipse

Eclipse is an enterprise management software for wholesale distributors. Eclipse is a centralized database (UniVerse) residing on AIX, (an NT based version is available as well) with client stations connecting via a simple terminal emulator and a thick, Java based, client. The basic software has such features as support for multi-branch operations, integrated interface for emailing and faxing (using VsiFax), customer calling queue (troubletickets), and several add-ons are available for an employee punch-clock, RF warehousing, Digital Imaging, Proof of Delivery/Signature Capture, and many others. AIX or Aix may be: Aix, a genus of two species of dabbling ducks, the Wood Duck (Aix sponsa) and the Mandarin Duck (Aix galericulata) AIX operating system Athens Internet Exchange, (AIX) a European IXP a place name: Aix-la-Chapelle, or Aachen, a city in Germany in France: Aix...


Criticism and Controversies

Intuit has gained a reputation for aggressive business policies which substantially increase the cost of software ownership for their customers. Notable cases of vocal public criticism include:


Business Policies

  • policy changes in customer support which have limited free support to installation issues only
  • perceived poor quality related to the use of off-shore customer support
  • an activation scheme from Macrovision in 2002 TurboTax,[5]
  • Another source of discontent is Intuit's phasing-out of the QIF format in favor of the QFX format. These formats are used for downloading information from financial institutions such as banks and brokerages. While use of QIF was free, banks are required to pay a licensing fee to Intuit to allow their customers to download financial data in the QFX format.

Aggressive Upgrade Tactics Macrovision is a company that creates electronic copy prevention schemes, established in 1983. ... QIF, in the context of computer applications, stands for Quicken Interchange Format. ...

  • sunset policy that stops online features from working after a certain amount of time.[6]
  • forced payroll table updates in 1999 QuickBooks
  • weak year-over-year feature additions

Software Quality issues In public policy, a sunset provision or sunset clause is a provision in a statute or regulation that terminates or repeals all or portions of the law after a specific date, unless further legislative action is taken to extend it. ... For the hotel reservation service, click Quikbook QuickBooks is an accounting software product developed by Intuit, Inc. ...

  • QuickBooks versions up to the 2006 edition incompatibility (due to programming issues) with Microsoft Windows Vista [7]
  • Intuit's products for Mac OS X have drawn some criticism for being less feature-rich in comparison to their Windows counterparts.

References

  • Taylor, Suzanne E. (2003). Inside Intuit: How the Makers of Quicken Beat Microsoft and Revolutionized an Entire Industry. Boston, Mass.: Harvard Business School Press. ISBN 1-59139-136-9.  - recounts the early years of Intuit, including the aborted acquisition by Microsoft.
  • Import issues with QFX and Quicken for Mac

See also

Categories: | ...

External links

  • Quicken Kids & Money
  • http://www.quickenincorporation.com/
  • http://www.intuit.com/
  • Quicken MEM - Medical Expense Manager software
  • http://www.quickbooks.intuit.com/
  • http://www.qboe.com/
  • http://www.quickbase.com/
  • http://www.turbotax.com/
  • http://www.itsdeductible.com
  • http://www.lacertesoftware.com
  • http://www.proseries.com
  • http://realestate.intuit.com Intuit Real Estate Solutions
  • Intuit's TaxAlmanac Wiki
  • http://www.snaptax.com
  • Intuit's Zipingo - Consumer Opinion Site for Local Search and Ratings
  • Intuit's JumpUp - free tools and services for small business owners
  • Business tax software: Take control of your tax claims - review of QuickTax Business Incorporated 2007 and Business Unincorporated 2007
  • ZDNet Article: QuickBooks Vista problems are six years in the making

  Results from FactBites:
 
Intuit Products - Business and Financial Management Solutions (243 words)
QuickBooks gives you the power to manage your business more effectively by providing you with fast, easy and integrated solutions to meet the needs of your business.
Join the hundreds of software developers who design products that extend the functionality of Intuit products.
Intuit products for customers outside the United States.
Intuit, Inc. - Wikipedia, the free encyclopedia (1137 words)
Intuit struggled financially until they found their formula, which revolved around direct marketing campaigns, favorable reviews in industry and consumer magazines and word of mouth from satisfied customers.
Intuit's focus on usability and customer support in its early years was legendary.
Today, Intuit is one of the largest software companies in the world with about $2 billion in annual revenue and $8 billion market capitalization.
  More results at FactBites »

 
 

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