As an accountant and bookkeeper, you should probably help your clients to choose the right tools for managing their business finances. QuickBooks Online(QBO) has become one of the most popular accounting platforms for small businesses and Intuit has introduced a way for accounting professionals to earn while helping their clients get started with it. This opportunity is known as the QuickBooks Online Revenue Share Program.
Through this program, you can easily earn a share of the revenue each time you refer a new client who subscribes to QuickBooks Online. Your client gets reliable accounting software, and you gain an extra source of income for guiding them in the right direction. In this blog, what is the QBO revenue share, how it works, pros and cons of QuickBooks Online revenue share program in detail.
What is the QuickBooks Online Revenue Share Program?
The QuickBooks Online Revenue Share is a program created by Intuit to reward accounting professionals and bookkeepers who refer new clients to QuickBooks Online. It is designed to help you earn extra income while helping your clients move their accounting to a trusted cloud based platform. When you join the program and a client subscribes to QuickBooks Online through your reference then Intuit pays you a percentage of the client’s subscription fee for a specific period.
You get a share of the revenue every time your client pays for their QuickBooks Online plan. That setup is beneficial for both sides, first your client gains access to powerful accounting tools that make financial management easy and second you receive a commission for connecting them to a reliable solution. It is a simple way to grow your practice, client relationships and create an additional income without extra workload.
How QuickBooks Online Revenue Share Works?
Here we explain how QBO revenue share works in simple terms, which are mentioned below.
- Join the Program: First sign up as a QuickBooks Online partner or proadvisor to get access to revenue share program.
- Refer Clients: Then share your unique referral link with clients who are ready to subscribe to QuickBooks Online.
- Client Subscription: After that when a client signs up and starts to pay for their QBO plan then you become eligible for a revenue share.
- Earn a Share: Intuit pays you only a percentage of the clients subscription for a set period.
- Automatic Tracking and Payments: Intuit handles all of your billing, subscription management and payments so that you do not manage anything manually.
How to Maximize Your QuickBooks Online Revenue Share?
Here we discuss how to maximize your QBO revenue share, which is mentioned below.
- Refer the Right Clients: Focus on small businesses that truly need QuickBooks Online.
- Act Quickly: Help clients sign up as soon as possible so their subscription period and your revenue share start soon.
- Bundle Services: Offer QuickBooks setup, training, or bookkeeping services along with the subscription to add value and client relationships.
- Stay Informed: Keep up with QuickBooks updates and promotions so you can share the latest features and benefits with your clients.
- Track Your Referrals: Keep a record of which clients you referred to ensure you receive your full revenue share.
Pros and Cons of QuickBooks Online Revenue Share
QuickBooks Online revenue share program has some pros but it also has few cons. Here we discuss both sides, which are mentioned below.
Pros
- You can earn a percentage of your clients subscription fees that create an additional revenue stream.
- If you help clients to choose the right accounting software, it adds value to your services and builds client relationships.
- Intuit handles billing and payments so that you do not have to manage subscriptions yourself.
- QuickBooks Online is widely used and reliable which helps to make referrals easily.
Cons
- Revenue share usually have a fixed time period (up to 12 months) and if a client cancels subscription early then your earning stops.
- You may need to inform your clients that you earn a share of their subscription to maintain transparency.
- This program provides extra income but does not replace your main service revenue.
Conclusion
In conclusion, we hope this blog helps you to understand QuickBooks Online revenue share. It is helpful for accountants and bookkeepers to earn extra money by referring clients to QuickBooks Online. Your clients get reliable accounting tools and you receive a share of their subscription fees. If you have any queries then contact our QuickBooks ProAdvisor and they help you to solve the queries easily.