Intuit’s Payments Ecosystem Continues to Grow with a New, Free App
that Integrates Seamlessly with QuickBooks Online

Intuit (Nasdaq:INTU) today announced Sync
with PayPal
, a new app that allows small businesses to simplify
complex, time-consuming tasks with seamless QuickBooks
data integrations. Developed as a result of the company’s
collaboration with PayPal, the free app automatically imports PayPal
sales transactions, fees, discounts and taxes directly into QuickBooks
Online, eliminating manual data entry and making it easier for customers
to manage their businesses.

Each payments-related solution designed to integrate with QuickBooks
Online, including Sync with PayPal and Intuit’s own QuickBooks Payments,
provides customers with a harmonious experience where everything works
together, so they can focus on their businesses rather than balancing
the books.

“Our collaboration with PayPal, and the app we’ve built as a result,
further broadens our thriving payments ecosystem,” said Eric Dunn,
Intuit’s senior vice president for payments and commerce solutions.
“Intuit is committed to delivering a range of personalized best-in-class
payments solutions for small businesses. Our open platform allows small
businesses to use the tools of their choice and therefore operate
efficiently in a frictionless environment.”

Sync with PayPal is available now for free on the QuickBooks
App Store
in the U.S., after 275,000 transactions were created in
QuickBooks Online during a six-week beta period. There are plans to
deliver Sync with PayPal globally, bringing the app to the UK, Australia
and Canada later this year. Benefits of the new app include:

  • Saves time: Automatically and securely imports PayPal sales
    transactions, fees, taxes, tips and discounts into QuickBooks Online;
    removes need for manual entry and saves small business owners’ time.
  • Updates data: Ensures valuable customer information is
    up-to-date in one convenient place by automatically syncing customer
    information from PayPal into QuickBooks Online.
  • Provides security: Securely downloads other transactions, such
    as expenses and bank transfers, into default categories within
    QuickBooks Online.
  • Improves accuracy: Eliminates manual data entry errors and
    helps increase accuracy through automatic imports, including the
    ability to download 18 months of past transactions.

“PayPal is listed by 25 percent of QuickBooks users in their chart of
accounts, so we knew an integrated solution would be a valuable tool,”
said Stephen Fusco, vice president and general manager of North American
distribution at PayPal. “Sync with PayPal and Intuit QuickBooks Online
will give small business owners more hours back in their day while
helping to improve their transaction data accuracy.”

Intuit’s QuickBooks Payments
offers many payment options to get paid fast and save time with easy
payment processing, in addition to simplified pricing. Automatically
synced with QuickBooks Online in real-time, it consists of end-to-end
payment solutions for all payment types in multiple channels, including
mobile, e-commerce and point of sale.

About Intuit Inc.

Intuit Inc. creates business and
financial management solutions that simplify the business of life for
small businesses, consumers and accounting professionals.

Its flagship products and services include QuickBooks®, Quicken®
and TurboTax®, which make
it easier to manage small
 and payroll
, and tax
preparation and filing
provides a fresh, easy and intelligent way for people to manage their
money, while Demandforce®
offers marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit’s
leading tax preparation offerings for professional accountants.

Founded in 1983, Intuit had revenue of .5 billion in its fiscal year
2014. The company has approximately 8,000 employees with major offices
in the United States, Canada,
the United KingdomIndia and
other locations. More information can be found at

Source: Intuit Inc.

Intuit Inc.
Sarah Voros, 650-944-4385
Jen Garcia, 415-844-6244