Flourish, a wealth management technology provider, has unveiled integrations with QuickBooks and Quicken meant to allow business and individual clients to automatically sync their Flourish Cash account transaction data directly into their accounting software platform.
The integration addresses one of the most requested features from Flourish's growing business client base, which now represents more than 15% of all Flourish Cash accounts. This growth, according to the firm, reflects demand for higher-yielding cash accounts for businesses.
Ben Cruikshank, president and chief commercial officer of Flourish, previewed the integrations in an interview with ThinkAdvisor. He noted that they are being made available immediately to all Flourish Cash account holders.
The integrations enable clients to streamline their financial management by automatically importing Flourish Cash transaction data into the popular accounting software platforms, Cruikshank said. This eliminates the need for manual data entry and reduces the potential for errors in bookkeeping processes. Users can also import statements directly into QuickBooks or Quicken, creating a more comprehensive view of their finances while removing administrative burden.
The launch comes as small businesses increasingly recognize the value of optimized cash management, Cruikshank said. In 2024, Flourish Cash business account clients collectively earned more than $37 million in interest.
This figure demonstrates how proper cash management can become a meaningful revenue stream for businesses that traditionally earned minimal returns on their reserves, Cruikshank said.
“We also believe the ability to offer Flourish Cash gives advisors an easy way to add value to clients with businesses and non-profits,” Cruikshank said. “Traditional business banking options often leave small businesses with limited choices offering lower interest rates, cumbersome processes and insufficient FDIC coverage.”
With more than 30% of Flourish Cash business accounts holding more than $250,000 in cash, he noted, the need for enhanced protection is clear.
To that end, Flourish offers enhanced Federal Deposit Insurance Corp. coverage through its program banks, providing businesses up to $7.5 million in FDIC insurance for business accounts. Two-person households are eligible to receive up to $30 million in FDIC insurance through a joint account and two individual accounts.
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