Freelancers and small business owners who need invoicing and expense records often rely on a form of accounting software such as Quickbooks. Although quite popular, this type of application may be too across-the-board for the novice home based business individual, especially those seeking accounting for simple bookkeeping and tax purposes. Fortunately, the guys at the ‘Less Everything Team’ had entrepreneurs on the other side of the spectrum intended when they created Less Accounting.
What is Less Accounting?
Less Accounting is an easy to use accounting application specifically designed with the small and home based business owner in mind. Created versatile enough to operate seamlessly with Mac (or Windows) as well as for personal non-business use. Less Accounting manages invoices online, deposits, payments, reports, proposals, and important contacts. Freelancers can keep track of cash flow quickly through this clean-cut platform.
How it Works
Less Accounting is a month-to-month service. Less Accounting also allows you to cancel at any time; you’re not locked into a contract. The monthly subscriptions range from $12, $20, $24 and up. There is also a free initial 30 day trial. Each higher tier permits more entries. Quality tech support by the developers of Less Accounting comes with every subscription except the 30 day free trial.Less Accounting operates on redundant hard drives, so that the data backups are created nightly and amassed in a different area. SSL (https) encryption is common with all accounts. Data security is top priority and taken very seriously by Less. There is no maintenance or sign-up fees required.
Once you’ve logged in the dashboard appears. The dashboard displays an account overview, chart cash flow, invoices pending, and expenses. Tabs labeled ‘Money In’, ‘Money Out’, and ‘Watch Money’ help simplify the various options available. The ‘Money In’ area is where you can create, rearrange and send your invoices. Payments received and deposits can be viewed in detail. A bonus feature lets users send business proposals.
Invoicing clients is made easy through pdf or email which can be set to send out automatically. Less Accounting is fully integrated with Gmail. The ‘Money Out’ section monitors expenses and transfer funds. A feature even allows you to record your vehicle’s mileage to be used as a tax deduction. Below the ‘Watch Money’ tab is your standard reports. You can activate, export, or check transactions, payables, profit and loss, mileage, receivables, and payroll. Expenses are divided into helpful tax categories along with summaries of paid and unpaid invoices. Each separate report can be exported as a .csv file that will open in Excel.
There is also an option to export data as an XML file. Less Accounting users can also invite their accountant or business associates to view data. Account access is limited depending on the title you assign to them. Trusted users have full privileges of the account like the owner. Untrusted users can only see the data information that they are entering. This is a great option for owners who have sales associates or other assistants to have access to invoices. Less Accounting offers all of the essentials for accurate accounting.
Overall Rating: (5 out of 5)
Less Accounting is an excellent application for budding freelancers and home based business owners. The user-friendly design gives beginners the necessary tools to effectively manage the core financial aspects of their business. Valuable reports divided into categories such as accounts payable, accounts receivable, and general accounting produce the records required for reference during tax season. Having an application like Less Accounting can be extremely beneficial. If you employ a CPA the invite feature allows you to save time and money by simply exporting or giving them access to view your information whenever needed. Pricing is reasonable granting varied subscription status way below other standard web-based applications. The 30 day free trial is definitely worth trying. I recommend any new small business owner that’s not looking for an extensive double-entry accounting software to consider LessAccounting.com.