Free Accounting Software (#114)
/In this podcast episode, we talk to the president of a company that offers free accounting software (which has since been acquired by godaddy.com). Key points made are:
Outright offers free accounting software. It charges a fee to file Form 1099s and for certain tax services, but the basic service is free.
The system pulls in data from credit cards and PayPal and converts it into information that can be included in tax returns, also calculating the amount of tax owed.
The system is targeted at the small business owner.
The main orientation of the system is toward the preparation of tax returns.
Information is stored on the Internet, using bank-level security.
This approach avoids the risk of losing data when a local computer crashes.
The system is easy to understand and use, with a minimal need for accounting knowledge.