QuickBooks

They are very much Intuit related.

as in like they connect in with QuickBooks.

Yeah, QBO basically.

There are others obviously out there, but I think there was another one that I found when I just did a quick Google called UKU.

So that's kind of the one thing that I preach is as a business owner, you know, you're out there selling and marketing and doing the operations.

Maybe, you know, are you the best bookkeeper or do you understand how finances work and QuickBooks work? Is that the best use of your time or not? Who do you know that can do that at a reasonable price? So we take that responsibility off of their plate.

So again, that's the who, not how.

They don't know how to do QuickBooks or they don't want to know how to learn QuickBooks, but they know somebody who is responsible and capable of doing it.

So let's get it off their plate.

They can concentrate on achieving that goal, building their business, et cetera.

Does that ultimately cause you to devalue what that platform is? The PM is maybe the hardest one to imagine because it is home to so many things, but there's a lot of other like smaller things.

We always come back to the very simple ledgers where it's like, is it yet another QuickBooks subscription really necessary for these little micro ledgers? Or can Claude just do it for you? But I do think it is true that user-based pricing is breaking.

particularly if the biggest user of a platform may now be not a human, but your AI agent.

And this is an argument for usage-based pricing.

And... oftentimes easier to automate.

But the rub now is that generic tools will never touch workflow.

Workflow being like syncing in transactions from QuickBooks, automating a tax return delivery.

And these days, practice management systems, they're doing real workflow.

It's all totally worth it.

In our world, we use QuickBooks.

That's a piece of software that I use in my other business.

So we pretty quickly made the investment into QuickBooks.

If you've made that investment, you feel the pain I feel every year when they send an email and tell you their prices are going to go up.

painful, but for us, it's worth it at this point.

It's super simple.

They were paying via cash, check, or Venmo.

And again, I don't know if that's the right way or the wrong way, but it seems to work well for me.

Question 13, when you put your own money into your lending business, how do you record it in QuickBooks as a loan to yourself or as an owner contribution?

Hmm,

this is a really good question.

And truthfully, I don't know that I have an answer for it because I'm not a CPA and I would bet that a CPA would come and look at my QuickBooks and they would probably laugh at me.

There's a category in, or I think it's a chart of account inside QuickBooks.

I can't remember the exact terminology for it, but it is like owner contribution.

And I think you could put it as that.

But one of the anthropic touted things, a feature, whatever, about Duet is that it has access to more than 6,000 connectors and plugins.

One of the ones that said was in the press release was QuickBooks, which...

I thought you had to like technically go through this whole process to become a developer for Intuit to get access to like an API key

for QuickBooks.

But they seem to be the same connectors from what I can tell.

All right.

And you mentioned QuickBooks.

Another issue that these agents have been having is increasingly financial institutions are saying, keep your agents away from us, even though...

Or I would say with my approval for many months, I got to the point where I'm like, this is, I trust it now.

The only thing I don't really try, if it's going to hit any of my financial data, like QuickBooks, I always have permissions turned on.

I would keep it may annually approve and I won't let it take actions in my QuickBooks without asking me first.

But for my Gmail, I honestly would.

Personally, just say automatically approve, which is like a stopgap to skip all approvals because cloud is really good at knowing if something's unsafe.

The required input is manageable.

You need a four to six week learning curve to master standard accounting tools like QuickBooks Online or Xero.

The outcome is earning $25 to $35 per hour from home on your own schedule.

The trade-off is that your income is capped by your billable hours, and the work demands strict, sustained attention to detail.

You've learned how to market.

You've learned how to run QuickBooks.

Like you've learned all these other things you may never have done until you start this side hustle skills.

You will always be able to lean back on in the future.