Running your own small business has plenty of perks: you can set your own hours, work from home, and there's nary a TPS report in sight. But there are also a number of downsides, not the least of which is the fact that you have to take on role of your business's accountant. That means keeping tabs on business expenses, filing taxes four times a year, and plenty of other headaches. Cue Outright.com, a startup launching out of beta today that looks to be the “absolute simplest” online application for small business back office tracking, accounting, bookkeeping, and more.
Getting started with the site is quite easy, because Outright has recently partnered with a number of financial services: you can import invoices from Freshbooks, receipts from Shoeboxed, your PayPal transaction history, as well as your credit card transactions through a deal with Expensify, which supports 94% of US credit cards. You only have to do this once - once you've linked your account, they'll keep automatically updating until you unlink them.
Once you're done with the initial setup, everything on Outright is fairly self-explanatory (which is sort of the idea). The home screen presents you with a chart pitting your costs against your income to give you an at-a-glance look at your business's health. At the top of the screen you'll see tabs for Income, Expenses, Taxes, and Reports, where you can hone in on the transactions you're looking for. Transactions are automatically sorted into different categories (for example, the site knows that your airline's tickets belong under the ‘Travel' category), and you can also generate reports on a per-customer basis, which would be helpful for eBay sellers. Beyond that the application helps with taxes by offering reminders when a deadline is coming up and an estimated amount that you'll have to pay.
Outright isn't as robust as some other financial services out there, but if you're looking to keep things simple it's certainly worth a look. The company was formerly called GoBoostrap.com, but changed its name in conjunction with news of its $2 million funding in February.