GoDaddy Online Bookkeeping Review 2023: Pros & Cons, User Reviews and More

In its former life, GoDaddy Bookkeeping was an online bookkeeping program called OutRight. Outright offered basic profit and loss statements, invoices, and simple tax documents for sole proprietorships. In 2012, OutRight was acquired and rebranded as GoDaddy Bookkeeping. With the Get Paid tier you get just the basics, such as invoices and estimates, time tracking, a few reports, mobile apps and mileage deductions. You will still be able to log into Etsy and download your monthly sales reports.

The software’s own templates will be perfectly good for most freelancers and contractors. We liked the ability to track an invoice throughout its life, from creation to payment. This could be useful for a freelancer waiting for a much-needed https://www.bookstime.com/articles/godaddy-bookkeeping cash injection. You can be notified automatically when an invoice becomes overdue, when it is viewed by a client and when it is paid online. You can send automatic thank you notes to customers when payment is received.

What is GoDaddy Online Bookkeeping?

Deliver a distraction-free reading experience with a simple link. These are the products most often compared to GoDaddy Online Bookkeeping. Users can also enable notifications for when invoices are overdue. While Less Accounting offers the most variety when it comes to reporting, GoDaddy does not have a bad selection of reporting templates. Users have easy access to sections such as ‘Overview’, ‘Income’, ‘Expenses’, ‘Invoices’ and ‘Reports’ through tabs that run across the top of the main screen. Users can add their details under the ‘Manage’ tab that runs along the top of the screen.

GoDaddy Bookkeeping offers a plan for every small business, with the option to have recurring invoices or pre-constructed tax worksheets. Lendio’s invoicing and accounting software is a comprehensive alternative to GoDaddy’s online bookkeeping software. It can streamline your most important business processes, making it easier for you to get paid, manage https://www.bookstime.com/ your cash flows, and maintain accurate financial records for tax purposes. Get started quickly by importing your old records from GoDaddy into Lendio. Compared to some accounting packages GoDaddy is a simple solution that looks to solve simple problems. As such, it is extremely easy to set up, and requires no specialist or technical knowledge.

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Users can access a ‘Get Started’ checklist from their main homepage. From here they can choose to ‘Customize Reporting Categories, ‘Start Accepting Payments’ and ‘Link a Bank or Credit Card’. Users will need to enter their bank details into the system first. This way GoDaddy can link to your bank and download your most recent transactions. I was unaware of my financial picture as I sell on multiple sites, use different payment processors and have a variety of accounts.

• GoDaddy Bookkeeping’s client records don’t allow for as much detail as some competitors like Zoho Books allow.
• It’s immediately obvious if you have tasks to perform, like sending a payment reminder (if this is not automated).
• GoDaddy Bookkeeping partners with Yodlee, a bank and credit card account service provider, to help ensure security of the software.
• Plus, it includes what type of business would be best suited to use this software.
• It allows you to create and track invoices, accept debit cards, PayPal, credit cards and eChecks.

You will probably need a more robust accounting system within a year of starting your business, assuming it becomes a viable business. With GoDaddy Bookkeeping, you won’t have the financial horsepower to depreciate assets or project growth over a period of years. For freelancers on the go, this plan is incredibly versatile and affordable. The GoDaddy Online Bookkeeping Essentials Plan is highly recommended for any LLC or small business owner looking to avoid a large hassle during tax season.

Compare Accounting Software

It pulls transactions on a daily basis, so your accounts stay current. All cloud-based accounting websites operate this way, and it saves countless hours that small businesspeople used to have to spend entering transactions manually. That said, if you wish to manually enter at least some of your data, GoDaddy gives you that option, too. Project management is lacking, along with payroll, bill-pay, inventory management and other features larger businesses would quickly miss.

• You can also head over to other pages, such as Income and Expenses to view statements from specific accounts, and transactions over specific dates and categories.
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• After you enter your login credentials for your financial institutions, GoDaddy makes a connection and downloads your most recent transactions.
• Categorize once all other transactions follow, essentially we logged in quarterly just to give a quick once over.
• Boxes at the top of the page display the client’s hourly rate, uninvoiced amount, and billable hours for the month and year.
• With GoDaddy, your money is safe because the software uses 256-bit data encryption security, similar to the one used in many U.S. banks.

Tracking your time, making an invoice and processing the payment works like a breeze with the software. With this plan, you can send invoices and estimates, track time and mileage, accept payments on your mobile devices, and run reports for the current business year. The $14.99-per-month Premium plan gives you all of those features as well as the ability to schedule and send recurring invoices.

Gravity Software

It’s great accounting software that helps me keep track of my sales and expenses. I highly recommend it to anyone looking for an easy-to-use and affordable accounting solution. GoDaddy is very easy to use, and its design, layout and language is well pitched for its freelancer and sole proprietor audience. The dashboard gives details on profit and loss, current expenses, your current timesheet and open invoices. It’s immediately obvious if you have tasks to perform, like sending a payment reminder (if this is not automated).