Intuit is seeking desktop like speed in its online software applications as it rolls out a rebuilt QuickBooks Online. The new product, which has been introduced in limited, release accompanies the company's effort to simplify online products through means that include significantly reduce the number of drop-down menus needed to use applications.

Intuit signaled it is ready to combat the new generation of low-end accounting products. Details were not provided in this week’s 2013 earnings webcast. However, CEO Brad Smith said his company has a team to serve customers for whom the company’s QuickBooks accounting application is more than they need.

JTH Holding was forced to issue a statement this week that its financial reports cannot be relied upon after the SEC questioned revenue recognition policies. The company, parent of Liberty Tax Service, said any changes are unlikely to be material when the reports are restated.