Thursday, August 27, 2009

Online Bookkeeping Options:

As I mentioned in my previous post, I will continue looking for other good, reliable bookkeeping solutions that look as if they would be good options for any small business owner.

I found one so far that looks like a great option. It is called LessAccounting. Here's the scoop on them in their own words:

"Who is Less Accounting designed for?

We designed the accounting app to meet our needs as small business owners. We tried to develop it flexible enough for personal use, but if you are a big business Less Accounting probably isn't for you."
It appears to be a simple, straightforward interface that is designed to help you keep your finances organized while not consuming all of your time in order to do so. There are several features that I like which include PayPal integration, the ability to import addresses, bank accounts, and they have an iPhone app too (great for double checking your finances while you're on the go).

While some may be uncomfortable keeping their financial information online, their system uses standard secure encryption and they back up their data on a daily basis. One great feature that LessAccounting has built into their online system is the ability for you to give your CPA access to your account. By doing this, it gives you the ability to allow your CPA to view and download information from your account when he/she may need to for tax reports or other necessary business reports.

Quite honestly, that feature alone would be enough to convince me to give their system a try. It can be quite frustrating to print out reports and give them to your accountant only to find that you didn't print out the right report, right date range, or made some other error. By giving your accountant access to all of the data, you eliminate the possibility of making mistakes on your own end!

One other quick item to note. If you have started out with a more complicated system, such as Quickbooks, but have found it to be overwhelming LessAccounting has a method for you to be able to import your Quickbooks information into their system. So, you don't have to start over and rebuild your entire financial portfolio.

I would encourage you to visit their website, take the video tours that they have (I think there are 3) and check out the pricing structure. There is one version that is completely free, and then 3 different month to month plans based on the features you want to use for your business.

I hope this is helpful information for you. I will look into some other accounting systems as I find them. If you know of one that I should review, please feel free to leave a comment and let me know...I'll get to it! Thanks!

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