UK: Lloyds Bank and QuickBooks announce agreement

RFi Group data shows that 54% of SMEs in the UK identified the ability to integrate banking data is very important to the choice of accounting software provider.

Such results suggest the recently announced partnership between Lloyds Bank and Intuit Inc. is likely to widely accepted in the market. Intuit Inc. owns accounting software QuickBooks and through its partnership with Lloyds UK QuickBooks customers will be able to import transactional data from their Lloyds Bank accounts directly into the QuickBooks accounting software.

QuickBooks new integration tool, which is designed to help reduce time spent on manual data entry for small businesses, as well as reducing the risk of human error, will be available free of charge to the 100,000 existing QuickBooks subscribers.

QuickBooks has stated the integration will be available ‘soon’, although no set date has been confirmed.

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