Account balances are listed, as are your current estimated and sales taxes due and your mileage deductions. You can also see charts illustrating your annual profit and loss to date, the current month's expenses, and open invoices. Its home page displays enough information that a quick glance tells you whether you have work to do-and it takes you to the relevant pages. It uses simple language and understandable procedures. GoDaddy Bookkeeping was clearly designed with the self-employed worker in mind. GoDaddy Bookkeeping’s Overview (dashboard) is among the best in this group of small business accounting websites. Careful categorization also makes reports more meaningful and useful. This is why it's so important that you keep up with categorization in GoDaddy Bookkeeping: You'll be reporting this information to the IRS and state agencies when you file your taxes. The site also creates a Schedule C worksheet with tax-line assignments, something no one else in this group of websites does. You have to assign income and expense categories to every transaction if you want to take advantage of GoDaddy Bookkeeping's unusual ability to estimate quarterly income taxes (it automatically does as much of this categorization as possible). ![]() If you’re self-employed and keep up with your transaction entry and categorization, you can get an estimate of what you’ll owe in quarterly income taxes. That said, if you wish to manually enter at least some of your data, GoDaddy gives you that option, too. All cloud-based accounting websites operate this way, and it saves countless hours that small businesspeople used to have to spend entering transactions manually. It pulls transactions on a daily basis, so your accounts stay current. Most banks allow only 90 days' worth, but you may be able to get more. But the best way to start is by doing the first thing on the list: Link a Bank or Credit Card (assuming you opted for at least the Essentials plan).Īfter you enter your login credentials for your financial institutions, GoDaddy makes a connection and downloads your most recent transactions. It displays a Get Started Checklist on its home page that includes suggestions like Customize Your Reporting Categories and Start Accepting Payments. GoDaddy makes it simple to get going and requires very little work up front. Small business accounting websites try to get you up and running quickly, but there's always some startup work that needs to be done first. ![]() FreshBooks' entry-level plan is $13.50, and both Sunrise and Wave are free. GoDaddy Bookkeeping Premium is just a penny shy of being the most expensive site for freelancers, since QuickBooks Self-Employed costs $15 per month. The $14.99-per-month Premium plan gives you all of those features as well as the ability to schedule and send recurring invoices. The Essentials plan, for $9.99 per month, adds connections to online banks and credit card accounts, Schedule C and sales tax support, unlimited reports, and data integration with the aforementioned sales sites. 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 Get Paid plan, at $4.99 per month, is the simplest. The site is available at three different pricing levels.
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