Press Releases

Intuit Unveils New QuickBooks 2003 Financial Product Line
Delivering on the "Right for My Business" Strategy, Intuit Expands Offerings to Give Businesses More Choices
MOUNTAIN VIEW, Calif. - November 13, 2002 - November 13, 2002 - Intuit Inc (NASDAQ: INTU), a leading provider of business and financial management solutions for consumers, businesses and accounting professionals, today introduced the new line-up of QuickBooks® products for 2003. New financial solutions for small businesses include the new release of QuickBooks, specialized versions of QuickBooks for contractors and accountants, as well as an updated version of QuickBooks Enterprise Solutions Business Management software for larger and more complex businesses. These products, along with the recently announced Intuit® Payroll Services Complete Payroll, are in alignment with the three key elements of Intuit's "Right for My Business" strategy: 1) deliver industry-specific solutions for different types of businesses, 2) offer accounting solutions for larger and more complex businesses, and 3) offer business solutions that extend beyond accounting to business management.

"With the QuickBooks 2003 products, no one else gives small businesses the power to manage their companies as effectively as Intuit," said Dan Levin, vice president and general manager of QuickBooks Financial Solutions. "If you are in the construction business, we have a solution for you. If you are an accountant, QuickBooks has you covered. And if your business is just starting out or growing in size or complexity, we have a QuickBooks financial solution right for your business, too."

The new 2003 line-up includes: QuickBooks® Premier, Pro and Basic 2003; QuickBooks® Online Edition v 7; QuickBooks® Premier: Contractor Edition 2003; QuickBooks® Premier: Accountant Edition 2003; and QuickBooks® Enterprise Solutions Business Management Software v 2. Intuit also recently introduced Intuit Payroll Service Complete Payroll, the only full service outsourced payroll solution that can be used directly from within QuickBooks, which makes the entire payroll process faster, more convenient and more accurate for users.

In conjunction with Intuit's announcement, nearly 70 third-party developers, all members of the Intuit Developer Network, are announcing new products or services separately available for purchase that integrate with QuickBooks 2003. These applications range from automotive and construction applications to task-specific applications built for real estate, manufacturing and transportation businesses. (see separate press releases). Additional information about third-party applications and services that share data with QuickBooks 2003 products can be found on the QuickBooks Solutions Marketplace through http://www.quickbooks.com or directly at http://marketplace.intuit.com.

"For over a decade, Intuit has been delivering easy-to-use financial applications that empower small businesses to leverage technology to help make effective daily business decisions," said Helen Chan, senior small and medium business analyst at the Yankee Group. "The new QuickBooks product line demonstrates that the company listens and responds to their small business customers' industry-specific and company-specific needs. Intuit's continued focus on the small business market and large installed customer base position the company well in providing solutions that tangibly solve small businesses' pain points."

New QuickBooks Financial Solutions
  • QuickBooks Premier 2003 — QuickBooks Premier 2003 gives users the power to run their businesses more effectively. New integrated FedEx® shipping service and the newly added feature, QuickBooks Employee Organizer - which provides compliance guidance, reports and up-to-date information on federal and state laws to help businesses better manage employee administration - allow users to run the essentials of their business right from within QuickBooks. QuickBooks 2003 also features sales orders and inventory control features and new planning and improved analysis tools to help users take their businesses to the next level by gaining better insight into their business and planning for the future. And new customization options make the product easier-than-ever to use.

    QuickBooks Premier, Pro and Basic 2003 are priced for new users at $499.95, $299.95 and $199.95 respectively. Intuit will begin taking orders on Nov. 19, 2002. QuickBooks users in need of local assistance with installation, set-up, and QuickBooks advice can find a Certified QuickBooks ProAdvisor by visiting www.quickbooks.com/findadvisor. For more detailed information, visit www.intuit.com/company/press_room/vpk_quickbooks.

  • QuickBooks Online Edition v 7 — The latest release of QuickBooks Online Edition gives users a fast and easy way to run their businesses with all the added freedom and convenience of the Web. New features include the option to have bills, checks, credit charges and cash purchases automatically entered as transactions. Also, customers can set up new payment options, which allow the business owner to automatically apply discounts or penalties for early or late payments. The combination of existing and new features gives businesses more control by having all of their key financial information organized in one easy solution that is accessible from almost anywhere.

    QuickBooks Online Edition costs $14.95 per month for one to five users. Support is provided for no additional charge. For more detailed product information, visit www.intuit.com/company/press_room/vpk_quickbooks_online_edition/.

QuickBooks for Larger, Growing Businesses
  • QuickBooks Enterprise Solutions Business Management Software v 2 - QuickBooks Enterprise Solutions is a comprehensive business management solution, designed with greater capacity and improved performance to meet the needs of growing businesses. The software has the ability to support 10 simultaneous users, as well as expanded list limit capacity. In this release, users will find the new QuickBooks features and services, including integrated FedEx shipping service, new planning and improved analysis tools and enhanced inventory control. The software integrates with over 140 third-party applications separately available for purchase through the QuickBooks Solutions Marketplace.

    QuickBooks Enterprise Solutions Business Management Software v2 is priced at $3,500, including the service plan. Current QuickBooks Enterprise Solutions software customers who purchased the full service plan - which includes version protection - are eligible for a free upgrade to this latest release. For more information, visit www.intuit.com/company/press_room/vpk_quickbooks_es/.

Industry-Specific QuickBooks Financial Solutions
The following solutions are designed to better meet the unique needs of businesses in specific industries. These products include all the new features and functions found in QuickBooks Premier 2003 along with the customized feature sets by industry.

  • For Construction Businesses — The new QuickBooks Premier 2003: Contractor Edition solution has been custom built for construction businesses with 1-20 employees. New streamlined estimating and change order processes help increase accuracy and save time. The new job costing feature shows contractors which jobs are making money - and which are not. In addition, QuickBooks Contractor Edition includes specialized reports, customized navigation tools and an industry-specific help system.

    QuickBooks Premier 2003: Contractor Edition will be priced at $499.95 for new users and $379.95 for upgraders. For more detailed information, visit www.intuit.com/company/press_room/vpk_quickbooks_premier_ce/.

  • For Accountants — QuickBooks Premier 2003: Accountant Edition helps accountants better serve their clients as well as better manage their own practice. Special features designed to help increase efficiency include: enhanced general journal entry options, specialized reports, the ability to access client files remotely, new closing procedures, and an accountant navigator, which gives accountants direct access to features they use most. And the QuickBooks Premier 2003: Accountant Edition is compatible with all QuickBooks 2003 financial software products, allowing accountants to view and edit client files.

    QuickBooks Premier 2003: Accountant Edition will be priced at $499.95 for new users and $379.95 for upgraders. Intuit will begin taking orders on Nov. 19, 2002. For more detailed information, visit www.intuit.com/company/press_room/vpk_quickbooks_premier_ae/.

    A new version of QuickBooks Enterprise Solutions Business Management Software is now available for accountants whose clients use QuickBooks Enterprise Solutions Business Management Software v 2. Accountants who use the software can work with clients who use any QuickBooks 2003 financial software product.

    QuickBooks Enterprise Solutions Business Management Software v2: Accountant Edition is priced at $749 for a single-user license.

Small Business Services
Intuit offers a variety of services that help business owners streamline and automate many of their essential business activities. Business services range from QuickBooks Deluxe Online Billing, QuickBooks Credit Check Services and QuickBooks Merchant Account Service to QuickBooks Bill Pay and the QuickBooks Credit Card. Additionally, Intuit offers a full range of support plans, including plans that give users one-on-one support with QuickBooks experts.

Intuit is also one of the most popular providers of payroll services to small and medium sized business, serving more than 700,000 businesses nationwide. The company offers a full-range of payroll services, ranging from the easy to use QuickBooks Do-it-Yourself Payroll to the new, fully outsourced Intuit Payroll Services Complete Payroll.

To round out the suite of products available to customers, Intuit offers a variety of essential business supplies. These include personalized checks, forms, business cards and other general business and office supplies. All are designed to work seamlessly with QuickBooks.

Optional services may require additional subscription or service fees and are subject to change. Internet access is required for Online Billing and other optional services. Application approval required for certain online billing services. Terms, conditions, features, service options and pricing are subject to change. For more information on services, visit www.quickbooks.com.
 
About Intuit Inc.
Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing.

Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has over 6,000 employees with major offices in 11 states across the U.S. and offices in Canada, Japan and the United Kingdom. More information can be found at www.intuit.com.
 
This press release includes "forward-looking" statements about the features and benefits of future products and services, including but not limited to statements relating to Intuit's QuickBooks products for the desktop and for the Web and related services. Investors should be aware that actual results may differ materially from Intuit's expressed expectations because of risks and uncertainties about the future. Intuit will not update the information in this press release if any forward-looking statement later turns out to be inaccurate. Risks and uncertainties that may affect future results and performance include, but are not limited to, the following. Certain features still need to be completed and/or integrated into the products, and are subject to risks and uncertainties inherent in the product development process, including technological difficulties and possible delays. The proposed products and services are subject to competition from other software products and services, the World Wide Web and other traditional means. The anticipated benefits of the proposed products and services to Intuit will depend on a number of variables, including the rate at which customers upgrade to the 2003 version of the products, customer acceptance of the proposed products and services, and the level of satisfaction of third-party participants. Intuit cannot predict these upgrade, adoption and acceptance rates. Additional information about factors that could affect future results and events is included in Intuit's fiscal 2002 Form 10-K and subsequent reports filed by Intuit with the Securities and Exchange Commission.

Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, TurboTax, Lacerte and ProSeries, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com, among others, are trademarks and/or service marks of Intuit Inc., or one of its subsidiaries, in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.