Financial management software maker Intuit has acquired UK-based cloud payroll service provider PaySuite to enhance its QuickBooks Online ecosystem.
The acquisition will benefit small businesses integrate their payroll data in QuickBooks Online PaySuite, enabling businesses to keep a track on their cash flow in a better way, the company said.
PaySuite provides tools to small business to run employee payroll, automatically calculating relevant taxes, generating an electronic payslip, and sending the information quickly - it says real-time - to the tax authority.
According to Intuit, QuickBooks has 1.7 million users around the world and the company is focusing on core financial services like payroll, payments and inventory.
PaySuite Managing Director Stuart Hall said: "As a small business, growing rapidly, we loved the opportunity to work with Intuit and integrate fully in to their game-changing QuickBooks product."
"Their commitment to creating a wow customer experience, on both price and integration, shows they really understand their target audience and what small business needs to succeed in today's world."
Neither company has disclosed the financial terms of the acquisition.