Expenses and more Expenses it got to the point that just looking at the top bar in WHMCS and taking a educated guess at expenses was not going to be acceptable anymore. .I have around 11 vendors that require payment either monthly or yearly
First I was good with excel. But bringing in all the PayPal info and merchant bank CC payments info was just to much effort.
Then I got in my head my head "I must have accounting software that easily imports WHMCS info" With that thought I headed off to http://www.onesaas.com/Integrate/bil...nvoicing/whmcs
. Using those two programs I could import my WHMCS/PayPal/Bank/CC/ After running that for a few months. I discovered importing WHMCS did not really matter for what I was looking for plus the service did have a monthly cost to it (add another vendor to pay each month DOH)
All I needed was a program that allowed me to easily bring in PayPal/MerchantBank Using that info I can easily obtain Profit vs Loss and keep track of expenses seeing whom gets my money. And I actually found it.
The system automatically imports all PayPal items/Merchant Bank/CC items. It is smart enough to figure the PayPal charges as expenses. I do have to go in and manually chose the items that are CC fees created by customers that pay with that method.
After everything is said and done I have a nice Profit VS Loss charts, reports as well as charts and reports for vendor payouts. Really that is all one needs. And its free to boot! Their upsell is when one upgrades to paid it helps a lot with USA tax as well as create and send invoices. No need for that stuff. I sure this is site is focus on USA SMB.
Now the "Twist" to the whole thing or at least a twist to me. The original company was called OutRight. The owners Kevin Reeth and Ben Curren worked together at Intuit and decided they wanted to create a more simple program for Smaller business owners. Not much of a twist you say. HA well here it is On July 17, 2012, Outright.com had been acquired by non other then GoDaddy.com.
Anyways it took me a awhile to get over the fact that I was in fact using the dreaded GoDaddy to help with my Web Hosting business LOL.. just ironic is all.
For SMB it is a blessing in disguise. Works great helps you find ways to save money as well as seeing whom is taking all your money LOL.
It’s a super helpful software program easy to use and I think can help those that do not require fancy accounting.
Here is the url https://bookkeeping.godaddy.com/