We don't know about you, but we always make sure to keep up to speed with all the latest tax news. There's nothing we find more thrilling than tax. OK, tax might not be the most glamorous subject in the world, but it is important. The UK has now moved into a new era of digital tax collection, as its system for automated payment of value added tax has officially been switched on. Doing your taxes can be confusing at the best of times, and a completely draining drag at the best of times.
Intuit is buying cloud-based SaaS company Exactor to add more tax filing features for retail SMBs to its QuickBooks platform. Financial terms of the deal were not disclosed. Exactor offers tools for sales and use tax calculations and filing. Its platform lets businesses automate the end-to-end process of managing sales and use tax, and also includes filing and payment services. Intuit said it will integrate Exactor's technology into QuickBooks to help retail customers track and file sales tax returns on-time.
QuickBooks is a familiar brand in the small business world: More than 3.4 million businesses -- mostly small ones -- using the accounting software from Intuit. Once businesses reach a certain size, however, they tend to outgrow it. Now, Intuit is rolling out a product, QuickBooks Online Advanced, designed expressly for those mid-market businesses. The Internet of Things is the new frontier. However, generations of ERP systems were not designed to handle global networks of sensors and devices.