I have a few clients who are in need of bookkeeping support but just do not want to use QuickBooks.  Now I am a QuickBooks user, have been for years, and there is a lot I like about it.  But I understand there are those who do not like the program or just do not want to take the time to learn it.  So off I went in search of alternatives.  One great one I came up with was Outright, a free online bookkeeping program that is simple and straight forward.

According to their site, Outright is explained:  “Outright records your income and expenses automatically, categorizes the transactions to maximize deductions, and prepares your estimated and end of year taxes, so you can get back to the work you love.” After reviewing the site, I decided to put it to the test so I could recommend it to those in need.  Here is my findings:

LIKES:

First is the sync function.  Outright will import your Paypal and Merchant accounts, along with a few banks and Freshbooks, into your account.  And better yet, it’s smart feature will determine categories for those vendors that you use again and again.

Then there are the categories.  Each category is matched to a line on your end of year Schedule C tax form.  Now if you like to more specific, you can add your own categories and there is a “Not Sure” that you can choose to let your accountant determine these expenses.

Track 1099 for contractors and freelances.  At the end of the year, send out your 1099′s with ease as this category keeps track of your contractors.  There is an area to record W-9 details for those that you will need to issue for at year end.  There is also a section that briefly explains what a 1099 is and why as a business owner you may need to issue one.

Know your net profit.  At the top of your dashboard is an area where Outright calculates what you profit for the year is.  Know what you are doing right or wrong financially at the drop of a hat.  However keep in mind, your records need to be up-to-date to be accurate, and it is great to see when all your hard work is paying off.  This area can also give you an estimated tax payment due.  When you pay your quarterly taxes, you will know how much you will need to send.  Never overpay or underpay again.

Share your account.  You can easily share your account with your accountant or bookkeeper and still be able to make up-to-the-minute changes in your account without it affecting your records.  I do like that the shared access allows you to keep control but still employ help to keep your financial records in order.

DISLIKES:

No built-in billing.  There is an income section and Outright does sync with Freshbooks, however there is no invoicing program.  I went to BillingBoss to try that service as well but I wish it would be integrated to make it one complete package.

Cash business is assumed.  Most small businesses do operate on a cash-basis so this is not a big dislike.  However, being a QuickBook user, I got used to my Accounts Receivable account and miss being able to take a look at what is still outstanding and I need to collect on.  Now I know that this is what the billing program is for but again, I like it in one neat tidy package.

So bottom line here, if you are looking for a free easy to use program to keep track of your profits, Outright may be for you.  Also, if you are looking for a bookkeeping program to share with your virtual bookkeeper that you have instant access to, then Outright is for you.  If you are a big user of PayPal, Etsie, Ebay or Freshbooks, then this program is certainly designed for you.  However, remember your records are only as accurate as what is imported into them.

Next up, BillingBoss.  Is this the missing piece.

All the best,

Lee Drozak ~ My Office Assistant