Intuit QuickBooks has acquired PaySuite, a leading provider of cloud-based self-service payroll solutions in the UK. The acquisition follows a string of recent activity for Intuit in the UK.
As part of Intuit, PaySuite will form part of the QuickBooks Online (QBO) ecosystem, bolstering its add-on services that integrate with its core accounting application.
PaySuite currently allows small businesses to run employee payroll by automatically calculating relevant taxes, generating electronic payslips, and sending RTI submissions to HMRC. The acquisition means small businesses will be able to integrate payroll data directly in QBO, allowing business owners and accountants to keep on top of cash flow.
At the moment, PaySuite will remain a Xero add-on. However, Xero is expected to launch its own payroll product in the next year or two. At that point, Xero may decide to move on from PaySuite.
Intuit said they will continue to strengthen the QuickBooks Online ecosystem by focusing on the core services of payroll, payments and inventory.
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Source: AccountingWEB, posted by Robert Lovell, 13/08/2014