Amazon is teaming up with Intuit to bring QuickBooks online accounting tools to its network of third-party sellers, a move aimed at helping merchants better manage their financial operations.
The partnership, announced Monday, will integrate QuickBooks directly into Amazon Seller Central by mid-2025.
A Game-Changer for Small Businesses
Millions of Amazon’s third-party sellers, including many small businesses, rely on the platform to reach customers.
However, keeping track of financial data like cash flow, profitability, and tax estimates has been a persistent challenge for these merchants.
The integration of QuickBooks into Amazon Seller Central is designed to simplify these tasks.
Dharmesh Mehta, Amazon’s vice president of worldwide selling partner services, in a joint statement said:
“Together with Intuit, we’re working to equip our selling partners with additional financial tools and access to capital to help them scale efficiently.”
Eligible sellers will also gain access to loans through QuickBooks Capital, adding a new layer of financial flexibility.
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Real-Time Financial Insights
Once the integration is live, sellers will have access to real-time financial data, offering a clear picture of their business’s health.
This includes visibility into profitability, cash flow, and tax obligations—all accessible through Amazon’s central hub for seller operations.
While the rollout is scheduled for mid-2025, the announcement coincides with the holiday shopping season, the busiest time of year for many retailers.
The tools are expected to provide sellers with a robust financial framework to support long-term growth.
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Amazon’s Growing Marketplace
The marketplace is a cornerstone of Amazon’s retail strategy, accounting for about 60 percent of all products sold on the platform.
Amazon’s seller services, which include fulfillment, shipping, customer support, and advertising, generated $37.9 billion in revenue during the third quarter—a 10 percent year-over-year increase.
Amazon CEO Andy Jassy highlighted the importance of third-party sellers during the company’s latest earnings call, stating, “[Third-party] demand is still strong and unit volumes are strong.”
Amazon’s stock has surged nearly 50 percent this year, outperforming the Nasdaq’s 31 percent gain.
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Intuit’s QuickBooks Expansion
For Intuit, the collaboration with Amazon aligns with its strategy of integrating generative AI into its financial tools.
QuickBooks, known for its all-in-one accounting, payroll, and expense management features, has been a key growth driver for the company.
In the most recent quarter, QuickBooks Online Accounting revenue grew by 21 percent, contributing to Intuit’s total revenue increase of 10 percent, reaching $3.28 billion.
Intuit CEO Sasan Goodarzi expressed optimism about the partnership, stating, “Our goal is to create a done-for-you experience across the entire platform…to help sellers boost their revenue and profitability, save time, and grow with confidence.”
Challenges and Opportunities
The partnership offers significant benefits for Amazon sellers but comes during a period of mixed performance for Intuit.
While QuickBooks remains a strong revenue driver, Intuit’s stock has underperformed broader tech indices in 2024, rising less than 4 percent.
Recent challenges, such as delayed sales and concerns over government competition in tax-filing software, have also impacted the company’s market performance.
What’s Next for Sellers?
The QuickBooks integration promises to streamline financial operations for Amazon’s sellers, equipping them with tools for better decision-making and access to vital capital.
For both Amazon and Intuit, the partnership represents a significant step toward enhancing the ecosystem for small businesses while positioning both companies to further capitalize on the growing e-commerce and financial services markets.
