QuickBooks is one of the most extensively used accounting software platforms across the globe. Developed and maintained by Intuit Inc., it remained among the top players in the Indian market for several years, until the latter decided to pull the plug on it. The first sign of discontinuation arrived in the second quarter of 2022 when the company announced it would no longer be accepting new subscriptions for its products in India. This applied to all QuickBooks’ products and services including QuickBooks Online, QuickBooks Online Accountant, the QuickBooks mobile app, and QuickBooks Time. Intuit later stated that QuickBooks would be available for its current subscribers until 31st January 2023. This date was later revised to 30th April in view of the Indian financial year, upon several customer requests.
Since QuickBooks would cease to exist in India from May 1, businesses are looking forward to migrating their financial data to an equally reliable or preferably a better QB alternative. A majority of Indian enterprises that were previously using QuickBooks have already switched to a different platform and many are planning to migrate. On the other hand, startups and SMBs that are still using manual accounting methodologies will no longer be considering QuickBooks as a standalone accounting solution. That said, it is critical to consider the ideal accounting software packages or QuickBooks alternatives that are currently available in the Indian market.