Explore the latest shifts in U.S. accounting standards led by FASB, focusing on revenue recognition and lease accounting. Learn what these changes mean for businesses.
Read more...
Explore how accounting firms are embracing remote solutions, leveraging cloud technology, and enhancing client trust in the evolving digital landscape.
Read more...
Discover how accounting firms are navigating the AI-driven landscape, leveraging cutting-edge technology to enhance efficiencies in auditing and bookkeeping.
Read more...
Explore how the shift toward digital commerce impacts sales tax compliance and the strategies businesses use to navigate these evolving regulations.
Read more...
Explore how leadership dynamics in accounting firms are changing due to technology and diversity trends, with insights into modern strategies and tools shaping the industry's future.
Read more...
How AI Is Reshaping Payroll: What Every Business Needs to Know The 2025 Payroll Special Report explores how artificial intelligence is revolutionizing payroll—transforming it from a back-office function into a strategic powerhouse. Discover how AI is enabling greater efficiency, accuracy, and compliance while unlocking real-time insights and cost-saving automation. With insights from industry leaders at ADP, Paychex, KPMG, and more,…
After an outage that left some customers with no ability to process credit cards, send invoices or make payroll deposits, Intuit said it has restored service to customer Web sites. Sites that were back up included QuickBooks Online, IntuitOnline Payroll and QuickBase. The incident started about 10pm ET Tuesday, June 15, and lasted all day Wednesday. After its end, Intuit began providing explanations and offers to help those affected.
A statement from CEO Brad Smith, posted on the company's Intuit ProLine Facebook page, said that a severe power failure occurred during routine maintenance and primary and secondary back up systems went down. He also said no foul pay was involved. In other Web site posts, the company promised to help those whose payroll ran into the electronic barrier.
"I also want to share that we have no evidence of a security breach or attack on our servers. And at this time, we do not believe there was any damage or loss to customer data," he said.
Many services were offline for more than 24 hours, although Intuit had started restoring some service late Wednesday evening. However, some major sites, such as www.intuit.com were down until early this morning, Thursday, June 17. Spokesman Rich Walker said the company had put a priority on getting applications up before restoring informational Web sites.
It's the second major outage to hit an accounting software vendor this month. Sage North America had a 22-hour outage on June 1 and 2 that took down major Web sites, corporate email, order entry and Accpaconline.com. Sage attributed its problem to its storage area network, but gave no specifics. While QuickBooks mail was down during the Intuit episode, corporate email was not.
Intuit utilized social media, with status reports posted on Twitter and more lengthy discussion on the company's Intuit ProLine page on Facebook.
Those unable to process direct deposit to create paychecks for Friday, June 18, were instructed to create manual paychecks. Those who make a deposit today were told the employees would not receive the deposits until Monday, June 21. Intuit said it would credit accounts of those chose to use an overnight service for delivery.
The company also said it any businesses were unable to make tax payments,it would work with tax agencies to make sure they would not incur penalties.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind