QuickBooks Pro 2023 Edition Launches with a Steep Price Increase and Limited Compatibility: Monopoly Concerns Grow

Introduction

Intuit, the company behind the widely-used accounting software QuickBooks, has announced that the QuickBooks Pro 2023 edition will launch on September 6th with a substantial price increase and limited compatibility. Users of the software should be aware of these changes and consider their options before upgrading or purchasing the new edition. Additionally, concerns about QuickBooks’ monopolistic practices and their impact on small businesses have been growing, highlighting the need for more competition in the accounting software market.

Price Increase

The QuickBooks Pro 2023 edition will see a significant price increase, from $190 to $550 per user. This dramatic jump in cost may impact small businesses and self-employed individuals who rely on the software for their accounting needs. Customers will need to evaluate whether the new features and enhancements in QuickBooks Pro 2023 justify the higher price point.

Compatibility Restrictions

Along with the price increase, QuickBooks 2023 will not be available for versions of Microsoft Windows older than Windows 10. This means that users running older operating systems will need to upgrade their computers to continue using the latest version of QuickBooks. This compatibility restriction may lead to additional expenses and inconvenience for some users.

Monopoly Concerns

QuickBooks has been accused of becoming a monopoly in the accounting software market, leaving small business owners with few alternatives. The company’s shift to a subscription plan in 2021 to maximize profits has put additional pressure on small business owners who are already struggling to manage their finances. Legal remedies, such as lawsuits, may be necessary to hold QuickBooks accountable and encourage fair business practices.

Lack of Alternatives

With limited alternatives like FreshBooks, small business owners are left with few options when it comes to accounting software. The lack of competition in the market allows companies like QuickBooks to dictate prices and terms, potentially exploiting customers who feel they have nowhere else to turn.

Conclusion

The QuickBooks Pro 2023 edition comes with significant changes, including a steep price increase and limited compatibility. Users should carefully consider the implications of these changes before deciding to upgrade or purchase the new edition. Furthermore, concerns about QuickBooks’ monopolistic practices and the lack of alternatives in the accounting software market highlight the need for more competition and accountability. It is crucial for small business owners and self-employed individuals to stay informed about the latest software updates and weigh the benefits against the costs to make informed decisions that best suit their business needs.

Contacting QuickBooks and Filing Complaints

If you have concerns or complaints regarding QuickBooks’ practices, you can reach out to their support team with your company ID and case number. They will review your complaint and any actions taken. You can contact an agent through online chat or by emailing [email protected]. For more information, visit the QuickBooks website.

If you believe that QuickBooks is engaging in unfair business practices, you can also file a complaint with the Federal Trade Commission (FTC) by visiting www.ftc.gov.