Why is QuickBooks Leaving India?

QuickBooks exiting India came as a shocker for accounting professionals and users of the QuickBooks accounting platform. Intuit launched QuickBooks in India in 2012. After a decade-long of operations in India, Intuit decided to pull off operations of QuickBooks from India. The company stopped accepting new subscriptions in India starting 1st July 2022.

However, temporary relief was provided whereby the existing users were allowed to continue using QuickBooks till 30th April 2023 (extended from 31st January 2023). This will be applicable to all QuickBooks products in India. However, why quickbooks leaving India?

Top Reasons Why is QuickBooks leaving India

QuickBooks catered to the accounting and payroll needs of small and medium businesses. Despite India being a large market, QuickBooks decided to exit India. The following were the major contributors to this decision:

• Stiff Competition: India is a very competitive and price-sensitive market. QuickBooks faced stiff competition from rival accounting software like Tally, Zoho Books, Host Books etc. which made it increasingly difficult for QuickBooks to survive. Further, the rivals provided service at a lower price point than QuickBooks.

• Low Customer Base: QuickBooks serves 4 million+ customers globally. However, only 1%-2% of its customer base is located in India. Therefore, it is not economically viable to continue operations for such a low customer base. This was a dominant reason for QuickBooks exiting India.

• Focus Shift: It might be better to focus resources on other markets. Pulling off operations from India meant that QuickBooks can now focus its resources on other markets and countries.

What Does it Mean to You?

QuickBooks’ leaving India presented a huge opportunity for rival companies like Host Books, Tally, Zoho Books etc. These all are best quickbooks alternative in india. You would be surprised to know that these companies launched a discount offer to the existing QuickBooks’ users to ensure a smooth and economical transition. The discounts went as high as 20%.

Therefore, while QuickBooks exit India that created a bit of difficulty for the existing QuickBooks users, the company is extending full support to help in the migration process. This is further facilitated by support from other accounting software. However, it is important to know the offerings of other accounting platforms and select the one which best suits your needs. If you have a professional accountant who caters to your accounting needs, then migration won’t be a difficult task. This is because professional accountants are well-versed with different accounting software and know what are their offerings.

To select the ideal accounting software for your business needs, migrate your existing books from QuickBooks to other software and assistance in accounting and bookkeeping, feel free to contact the ASC Group.