the chat.

So basically, long story short, I created a website with ChatGPT, with a feature called ChatGPT Sites.

And I loaded all the release notes from...

Because Intuit, it drives me crazy.

They don't have one organized place where the release notes of their software is.

They don't have it for QBO.

They don't have it for IES.

Is there inner company only with journal entries or can you use other transactions for starting inner company transfers?

So they both have a different need for a different chart of accounts, but it makes sense to be able to map the two of those together.

That's absolutely right.

And speaking of construction, so one of the value propositions that Intuit Enterprise Suite came up with, this first released in September of 2024, and we've had about eight quarterly releases since then.

And the nut that they've really been trying to crack here is how do we serve our construction clients, which was the industry that was second most resistant to move out of QuickBooks Desktop.

because of a lot of features that were in QuickBooks Desktop Enterprise that you didn't see on Internet Enterprise Suite.

And I'm glad to announce that as of August of this year, I believe that there isn't just product parity with QuickBooks Desktop Enterprise on construction stuff.

There's actually more features in IES for construction that you don't see in QuickBooks Desktop Enterprise.

And so if that same pricing structure works, then that's going to be enormous for Intuit and a huge gift

Now it's a choice.

Yeah, I've – I just want to be totally transparent with you.

I know Intuit listens to this podcast and all the accountants listen to this.

I think it's important to always hear the truth.

A lot of people I've spoken to that have gone to a different ledger or are in the process of evaluating or putting a couple of customers there they're not really looking at it from a, like you said, multi-ledger.

They're not from a practical sense.

They're like, oh, I wish I had customers across four different softwares so I can learn four different softwares and be lost in four different softwares at the same time.

And so I'm excited about being able to participate in a whole different way.

Okay, so yeah, what does that mean for tax? This is

the weird, this is the strange dance that Intuit needs to do.

which is the only way to survive in this tax business is the TurboTax stuff.

The reality, there was an attendee that came to my conference last year and she told me that she worked full time for TurboTax during high season and then afterwards she did her own clients.

And I kind of like just picked her brain for like an hour and a half and like, what does your day look like? How much they pay you and how much time you spend with her? And I was doing some of the back of the napkin calculations, the amount of hours that they spent on the phone, giving just general support to some of these clients and what they get paid.

I'm not sure how profitable the lower echelon of tax preparation is when there's a human in the loop.

To charge $100 for a tax return, which in today's world, for a person that has two W-2s, a simple tax return, $100 seems already high because of the lower-priced competitors or the AI alternative or whatever.

And then they trained it on their proprietary data.

I want to open my doors.

My name is Hector Garcia.

I'm a homeless advocate.

I was born and raised in Mexico and came here with nothing.

I was 17 years old when I decided to immigrate to the United States.

I wanted to be a professional dancer, follow my dreams.

I crossed the border four times.

to

So Hector, [laughs] tell us what happened from your perspective.

Well, so e- end of March we got the email saying that m- m- uh, classic reports is gonna go away.

They said it was May 22nd.

I actually didn't panic.

I'm like, "Okay, cool.

We're, we're going to the new modern." I, I think when I got the email, actually I was mostly relieved that I don't have to remember like what two different screens do, like what one feature does and what the other feature does.

So I kinda saw it as good news.

"Well, actually, yeah, it does." And so for everybody out there who is really passionate about improving QuickBooks and wanting these, um, their feedback heard, you still have to actually go look and make sure things haven't changed out from under your nose.