Outright: Free online bookkeeping

If you could pick two words to send shivers down the spine of any freelancer or small business owner then they are surely ˈaccountsˈ and ˈtaxˈ.

With outright.com, whether you’re self-employed or the owner of a small business you can let out a sigh of relief and put an end to the paper rustling panic that usually comes as the end of a quarter approaches. This web based accounting app will sort all of your transactions into relevant categories, distinguish them between income and expenditure and by doing so keep you up to date with any tax obligations.

Bank and credit card accounts can be linked to the system cutting out the need to manually enter the data. This not only speeds up the operation but ensures that your bottom line, always visible on the main dashboard, is always up to date.

The dashboard itself is a gateway to the detailed information behind the summarized numbers. From there you can see who owes, who’s paid and your top customers amongst other reports. The use of clear graphs and pie charts also let you see at a glance where the money is going and plots your profit and loss along the way.

The great thing about this app is that not only does it automate the bookkeeping function it recognizes transactions from every tax angle and generates quarterly estimates, fills out a Schedule C and sends timely reminders when the IRS needs paying.

Your accountant can get involved too without having to visit your office. With access levels defined by you, professional help and assistance is easily available. This is another winner for me as any necessary adjustments to the figures can be made remotely meaning the bean counter’s meter won’t be running for as long!

Conclusion
Organization in and tax nightmares out. It’s win win as far as I can see.