GoDaddy Bookkeeping review

godaddy bookkeeping review

The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. GoDaddy is a simple bookkeeping tool for freelancers and small time ecommerce businesses and as such it performs well. Tasks can be achieved quickly and outputs are generally clean and professional. The software’s own templates will be perfectly good for most freelancers and contractors. GoDaddy also has a time tracking feature, and though it is not particularly sophisticated some rivals – like Wave Accounting – don’t offer one at all.

This automatically imports payroll journals into the general ledger. GoDaddy Bookkeeping also integrates with payment gateways and processors like Stripe, PayPal, Braintree, and Dwolla. GoDaddy Bookkeeping software offers round-the-clock phone and chat support.

Support Channels

After you enter your login credentials for your financial institutions, GoDaddy makes a connection and downloads your most recent transactions. Most banks allow only 90 days’ worth, but you may be able to get more. It pulls transactions on a daily basis, so your accounts stay;fg=go.html 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.

With GoDaddy Bookkeeping, you won’t have the financial horsepower to depreciate assets or project growth over a period of years. The iPhone version displays icons along the bottom of the screen that take you to Income, Expenses, and Invoices. A button in the upper right opens links to your settings (categories and clients, your invoice settings, and payment processors) when you’re viewing the dashboard and to charts on some of the other screens. The rules in GoDaddy Bookkeeping are flexible with options to apply them by vendor, amount, description keywords, and other criteria. Users can also set rules to flag transactions for review if they meet certain parameters.

What This Review Covers

The GoDaddy blog and social media feeds are not specific to its Bookkeeping software, so there is a lot of information about web building that you might have to wade through to get to what you need. Finally, the GoDaddy community forum is a good place to share information with other users. There is no double-entry and payroll, which means GoDaddy is unsuitable for larger businesses in need of a complete accounting solution. If you’ve attached your bank account or payment method to GoDaddy Online Bookkeeping, it will recognize when the payment has been made and automatically add that as income. Even if the client pays by another method, all you have to do is mark the invoice as paid when it arrives. The Invoices tab is your source of truth for how much money your customers owe you.

GoDaddy Bookkeeping employs a standard user interface structure. The site is broken down into several areas represented by tabs running horizontally across the top, such as Overview, Income, Expenses, and Taxes. When you click on one, the activities managed there appear as sub-tabs.

You’re our first priority.Every time.

We believe everyone should be able to make financial decisions with confidence. Hugh Wilson writes about business and the interface of business and technology for a range of titles including The Guardian, Telegraph, Independent, The Times, BBC and MSN. He has written a large number of articles for Top Ten Reviews about insurance matters, accounting, and some business-to-business software and appliances.

godaddy bookkeeping review

None of this is unique or groundbreaking, but it is useful, and not all of its rivals offer such a comprehensive invoice service. It’s even possible to schedule recurring invoices, though this is only available at the most expensive of GoDaddy’s three price plans. Freelancers will be extremely happy to know when their estimates have been viewed and, more importantly, accepted.

Premium Plan

Expenses can be uploaded via receipt images or added manually with automatic categorization. With automatic bank feeds and categorization of transactions, the Basic plan is a cost-effective option for solopreneurs and very small businesses to understand their finances. However, more advanced accounting needs like tracking accounts payable/receivable fall outside Basic’s scope.

FreshBooks positions itself as an accounting solution designed for small business owners, not accountants. With multiple channels, robust educational materials, and active user forums, GoDaddy Bookkeeping customers have access to exceptional support resources. Users can also set up notifications for when certain thresholds are exceeded, such as cash balances dropping below a target level. Automated alerts act as an early warning system for potential issues. Overall, scheduled financial reports and notifications remove the need for manual monitoring while increasing financial visibility. By integrating an ecommerce store’s data flows directly into the general ledger, GoDaddy Bookkeeping saves hours of manual work reconciling accounts and ensures accuracy.

The software allowed small businesses to link a number of accounts from which GoDaddy Bookkeeping drew the most recent and relevant data. They wanted to build a simple website that would help self-employed individuals—primarily freelancers and contractors—calculate what they would owe in estimated taxes every quarter. That idea led them to create Outright, a service that was eventually purchased by popular Web hosting service GoDaddy£2.99 at GoDaddy UK and evolved into GoDaddy Bookkeeping ($9.99 per month). The cloud-based accounting service remains true to its simple Outright beginnings, but it has improved depth and flexibility throughout, particularly in its new invoicing capabilities. Every accounting website includes record templates for storing information about customers (and often, vendors) that can be used in transactions and reports.

  • In 2012, OutRight was acquired and rebranded as GoDaddy Bookkeeping.
  • GoDaddy’s invoicing settings are impressive and its invoice management rivals that of the competition—surpassing it in the case of Intuit QuickBooks Self-Employed.
  • There is very little to do when it comes to setting up with GoDaddy.
  • It enables ecommerce merchants to efficiently manage key financial tasks.
  • GoDaddy’s features are simple, straightforward and user-friendly.
  • But there’s no drop-down list for the client name; you have to start typing until the correct one comes up.

However, there are a few alternative options in the market worth considering before making a final decision. The bank feed sync automatically categorizes many transactions, sparing users from manually entering data. It also detects duplicate entries to prevent inflation of balances. Users can reconcile accounts with a few clicks once transactions are imported. By reducing data entry and removals, bank feeds save significant time and lower the risk of human error from manual work. Users can quickly create and send professional invoices, accept online payments, and track unpaid customer balances.

Share This

About the author