Amazon (AMZN) is providing Intuit’s (INTU) QuickBooks software to millions of its third-party sellers to help them better manage their finances.
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Amazon and Intuit have formed a partnership that will see QuickBooks online accounting tools distributed to its vast network of sellers by mid-2025. Specifically, Intuit QuickBooks will be made available on Amazon Seller Central, the hub that sellers use to manage their Amazon businesses.
Some eligible sellers will also have access to loans provided through QuickBooks Capital, said the two companies. QuickBooks will provide third-party sellers with a real-time view of the financial health of their business, as well as a picture of their profitability, cash flow, and tax estimates.
Keeping Third-Party Sellers Happy
Third-party sellers remain a critical part of Amazon’s business, accounting for 60% of products sold by the e-commerce giant. Amazon generates significant fees from providing fulfillment and shipping services to third-party sellers, as well as by offering customer support to sellers and charging them to advertise on its e-commerce platform.
In this year’s third quarter, revenue from third-party sellers rose 10% to $37.9 billion, accounting for 24% of total revenue at Amazon. For Intuit, QuickBooks remains a popular all-in-one accounting, expense management, and payroll tool for small businesses. Intuit has been adding artificial intelligence (AI) tools to QuickBooks to provide faster and more automated insights to users.
Amazon’s stock has risen 50% this year.
Is AMZN Stock a Buy?
The stock of Amazon has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 45 Buy and one Hold recommendations assigned in the past three months. The average AMZN price target of $239.75 implies 5.35% upside from current levels.
