Nov 192011
Are you looking for a way to keep track of your income and expenses for your small business; and yet, may not be ready to purchase one of those big-boxed software programs on the market? Consider using Outright is a free online accounting tool for consolidation of finances and accounting services for small businesses.

Outright is a completely secure site.  If you use Paypal, you can link it up to your Outright account and all your income, purchases, and expenses, will be exported to your Outright account.  You will have the ability to modify entries, add or delete entries, elaborate on, or label entries accordingly.  Not only can you link your Paypal account to Outright but also accounts such as these, and more:

Bank and Credit Cards:                Websites:
American Express                          FreshBooks – (Invoicing)
Bank of America                            Paypal (payments)
Capitol One                                    Shoeboxed (Receipts)
Chase                                              Harvest (Invoicing)
Citibank                                          Etsy (ECommerce)
Ing Direct
TD Bank

Under the ‘Reports’ tab, you’ll discover a profit and loss summary.  You’ll see whom your best customers are in terms of how much money you’ve earned from them.  Then there is a sub-topic tab to see whom your ‘Biggest Vendors’ are which shows whom you’ve sent the most money to.  While in these sub-topic tabbed areas, you can view transactions for the day, the week, the month, quarterly, or yearly.  Do you sell products?  Want to know what state you’ve made the most sales in?  There’s a report for that too. There’s also a tab for ‘Taxes.’  Under ‘Annual’ tab, you’ll find a report for Business Income & Expense Summary.  You can view your Schedule ‘C’. There’s a report for Quarterly Taxes and a report for Sales Taxes.  If need be, you can record any payments not showing under this tab.

For being a free service, I find this site to be a valuable service.  It may not do the intricacies needed for Federal Income Tax purposes, but it surely gives you a good start.  For those who would like more reporting, Outright offers a paid version as well.  You can view what the paid version is all about once you sign up for your free account.

Sue – A Finger Click Saver
*This post is a sponsored post. All opinions are 100% mine.

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