To be fair, GoDaddy is not competing against QuickBooks or Xero, but it also feels a little underpowered against more direct competitors like FreshBooks. GoDaddy Bookkeeping was originally designed as a tool to help these sole proprietor businesses estimate quarterly tax, and it has been refined and developed over a number of years since then. https://www.wave-accounting.net/donations-for-nonprofits-and-institutions/ Today, it is a good solution for freelancers in need of basic bookkeeping, but not sophisticated enough for larger businesses. GoDaddy does what it does well, but doesn’t do anything beyond the basics. With GoDaddy, your money is safe because the software uses 256-bit data encryption security, similar to the one used in many U.S. banks.
Therefore, if you’re looking for a platform to provide you with bookkeeping or accounting essentials, you can probably find a free solution that will meet your needs. There are three GoDaddy Online Bookkeeping software plans—Get Paid, Essentials, and Premium. Each plan is priced on a monthly subscription basis, with increasing features included in the higher-level plans. GoDaddy is the perfect choice for those who do not need an overly sophisticated accountancy tool. While it does include some excellent invoicing and reporting features, it does not offer double-entry and payroll which larger companies need. On the flipside, there are hardly any other integrations to speak of.
Setup
As such, it is extremely easy to set up, and requires no specialist or technical knowledge. Link a bank account or credit card to the software, and let GoDaddy pull in your recent transactions. Then you can start work, whether that means categorizing expenses or sending an invoice. GoDaddy Bookkeeping for Nonprofits: Best Practices, Tips, Resources, FAQs wants to free you from keeping spreadsheets, manually entering data and mountains of receipts. With the software, all your business accounts will be collated and the pertinent income and expense reports generated. Further, you are not required to download, install or update any software.
Check out our How To Make a Website and How To Get High-Quality Web Design and Development guides. GoDaddy Bookkeeping has an interactive and consistently updated tax worksheet section, allowing you to peek at it throughout the year or quarter. Beginning at $14.99 per month, the GoDaddy Online Bookkeeping Premium Plan comes with everything included in the Essentials plan, but with one major improvement.
Essentials
It also does not require manual data entry and is not tedious to use. There are three different pricing plans with respective prices and features that you can choose What Is Accounting For Startups And Why Is It Important? from. Although there is not free trial, GoDaddy has a money back guarantee in place. The firm’s customer care staff is available 24/7 on phone, email and live chat.
Not only do recurring invoices keep your income steady, but they are also a great fit for several types of businesses. Any service-based business or freelancer who bills for a fixed number of hours would find this plan effective. Ecommerce stores that offer subscription services, or any business that offers education or training can utilize this tool as a subscription or membership service. This plan makes it simple to charge customers for any services that occur on a renewed and regular basis. The Invoice Settings tab opens a much more complex screen of options, most of which aren’t accessible in the app. These are sophisticated settings that aren’t always found in full-blown small business accounting applications.
GoDaddy Online Bookkeeping Get Paid Plan – $4.99/Month
All that said, GoDaddy Bookkeeping hasn’t made significant changes since we last reviewed it in 2019. Although we still recommend the service, it lacks some of the advanced features found on our Editors’ Choice winner, FreshBooks, like multiple transaction types, inventory management, project-tracking, and bill pay. With options like Wave, Zoho Books, QuickBooks Self-Employed, and more—there are both free accounting software solutions, as well as more feature-rich platforms—that may be able to serve you better than GoDaddy.
- Boxes at the top of the page display the client’s hourly rate, uninvoiced amount, and billable hours for the month and year.
- Setting Up SettingsIf you didn’t go through the setup process on the website, or when you need to add or edit existing information, you can do much of it on the app itself, of course.
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- Clickingone opens a more detailed screen describing each transaction, which can be edited to categorize or to add a photo, for example.
- You can access profit and losses reports for a quick scope on the overall financials of your business.
They both support a lot of the functionality found on the browser-based version. For example, you can create and view customer records, review and use categories, and connect to payment processors. Invoices you’ve already created are available for viewing; you can check their status and create new ones.