2 alternatives for GoDaddy Bookkeeping for Etsy, Ebay, and Amazon sellers

This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. 1-800Accountant assumes no liability for actions taken in reliance upon the information contained herein. Access to this page has been denied because we believe you are using automation tools to browse the website. A reconciled journal entry means you found the journal entry’s match in the bank feed, its soul mate, its lifelong companion.

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. There’s no need to fear faulty security, GoDaddy Bookkeeping uses the same type of security measures most banks do, protecting your data from hackers and viruses.

Automating admin tasks can save you a significant amount of time and money so you can focus on growing your business. Let’s take a step back to consider how you manage your books and whether this still makes sense for your business. Made in the UK by ex e-commerce sellers and accountants. If you user a merchant account, it duplicates all the transactions. There’s one for the merchant account & another when it transfers to your bank account. Also doesn’t have the ability to bill payment and project tracking.

FreshBooks offers best-in-class accounting and invoicing software for small business owners. Regardless of your business size, FreshBooks accounting software is easy to use and supports all of your accounting needs while offering your business the ability to manage users and user permissions. With an award-winning customer support team ready to assist you, FreshBooks is the preferred choice of small business owners and is priced perfectly for your needs. The site is available at three different pricing levels. The Get Paid plan, at $4.99 per month, is the simplest.

GoDaddy Bookkeeping’s Mobile Apps

Great feature set for small business owners ready to move beyond spreadsheets. It helped me get organized and serious about my business accounting, which helped my business grow. GoDaddy Bookkeeping is being discontinued effective June 23, 2022. After this date, GoDaddy bookkeeping users will not be able to import any new data but will only have read-only access.

If you feel like offloading bookkeeping tasks entirely, we offer professional bookkeeping services too. It’s important to remember that Quickbooks is an accounting software only and not an accounting service. What this means is that if you don’t have accounting or bookkeeping knowledge, Quickbooks can be fairly complex and may easily result in inaccurate financials. You may end up with 100 journal entries and only 85 actually match real bank or credit card transactions. This could create a discrepancy between your books and your banks, causing your books to be – to use the proper professional term here – screwed up. Had issues with syncing with one particular bank, and didn’t get a lot of help.

Company Information

Even if you lose access to your computer or device, you can still gain access to all your invoices and important information through GoDaddy Online Bookkeeping. Fortunately, sellers don’t have to worry for too long about what platform they can use to pick up where GoDaddy left off. 1-800Accountant is proud to provide excellent bookkeeping service to its clients, including the use of ClientBooks. In comparison, outsourcing to a bookkeeper may be more efficient from a time perspective but can cost you on average $400 a month. In addition, it’s important to find someone that specializes in the ecommerce space to ensure the nuances of ecommerce finances are accounted for correctly.

• Alternately, Wave is a free service, and while it lacks Xero’s bells and whistles, it’s got most of the basics .
• Outright was bought by GoDaddy, but they continue to bill me every year for an Outright renewal that I never ordered or authorized.
• It doesn’t have the capability to produce a profit and loss statement, which I think is a very common need for someone with accounting software.
• 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.
• Outright makes it simple for me to keep track of my expenses and income and I can even set up automatic category assignments for tax purposes.
• We appreciate your business and are here to help make your transition as smooth as possible.

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 bookkeeping Profit and loss reports are available any time you want to take a look at them to see how your sales match up against your expenses. You can also break down your customer base by individual or state.

GoDaddy Online Bookkeeping Description

We are a technology company providing automated end-to-end accounting service to ecommerce businesses. Our system connects to your apps, syncs all your data, and reconciles your books in real-time, replacing your bookkeeper. We offer reconciled books available 24/7, tax-saving insights, and a single place for all your financial data. The main advantage of option 2 over option 1 is to create consistency in your books. With two different sets of accounts and accounting systems, tax prep can be much more complex and expensive. Rebuilding your books from January 1 allows you to compare your income and expenses month over month and makes it MUCH easier when it comes time for tax preparation. No matter which bookkeeping alternative you choose, it’s important to make this transition as smooth as possible by not losing your historical financial information.

If you’re operating in another country you may find it a bit annoying to see everything in US dollar signs and there’s no option to choose your own tax year or country-specific formats. When readers purchase services discussed on our site, we often earn affiliate commissions that support our work.

What Is GoDaddy Bookkeeping?

I mostly used this to accept credit and debit card payments for individual artwork I sold on my personal website or at art fairs. The entry option offers a lot of features like accepting payments and keeping tack of mileage. I have a lot of products from GoDaddy so it’s nice having these applications all under one area. I am a busy entrepreneur that wears many hats including bookkeeping and tax accounting. The flow of transactions from multiple bank accounts to the bookkeeping software makes resolving my books straightforward. I can do my schedule C calculations fairly accurately from the data stored which is a huge time saver. Finally, for a GoDaddy Bookkeeping alternative that offers affordability, time tracking tools, and extended bookkeeping and accounting features, you might look into Zoho Books.

Additionally, live chat support is rarely available, and the knowledgebase is difficult to navigate and poorly organized. So it’s challenging to troubleshoot issues without getting in touch with customer service representatives. Cloud-based accounting software just means that the software program is located on a secure server that makes it available to use from any computer or mobile device. With a business to run and projects to manage, it’s tough to keep everyone synced up and on schedule.

It’s seriously all encompassing and allows you to manage your freelance or business finances on the go. Simply add a time entry to the calendar and then check the “billable” box if it applies to a specific client. You can then use this information to export to a new invoice and send the client your bill. Track how much money you’re owed, what invoices have been paid, and who your best customers are. Link up your invoices to be paid via PayPal, Stripe , or Dwolla. Personal Capital isn’t tailored for small business accounting, calculating quarterly taxes, monitoring your cash flow, or for viewing year-end tax reports.

by: Old School Seller

You work on multiple projects at once, and it can be costly if billable time is missed. Time Tracking in FreshBooks makes it easy for teams to log time and automatically add it to invoices, so all time is accounted for. Download the mobile app to send invoices or track receipts on the go. Connect your bank account to create income statements, balance sheets, accounts receivable reports, and more. I already have and will continue to recommend this service to all I know, because of the unlimited ability within this accounting software.

The solution for that garbage overpriced quickbooks isn’t worth it, you have to pay extra ontop of the outrageous fees for a plugin that works with ebay, and I highly doubt it works nearly as well. Once you’ve created a client record, its information will appear on a home page of sorts, along with a list of open invoices and a link for creating invoices. Boxes at the top of the page display the client’s hourly rate, uninvoiced amount, and billable hours for the month and year. If you’re self-employed and keep up with your transaction entry and categorization, you can get an estimate of what you’ll owe in quarterly income taxes. GoDaddy Bookkeeping Premium is just a penny shy of being the most expensive site for freelancers, since QuickBooks Self-Employed costs $15 per month. FreshBooks’ entry-level plan is $13.50, and both Sunrise and Wave are free.

We ensure that all the sales, refunds, fees and taxes or VAT are grouped correctly and accurately ensuring that you are keeping accurate accounts and paying the right amount of tax. For me however, for what I used this product for, there are cheaper options –and the starting point for this is already super cheap at $4.99 a month. However, if you are like me and only use this product every other month, maybe look into Square or something.

• Automating admin tasks can save you a significant amount of time and money so you can focus on growing your business.
• This makes it even easier to see where you’re making money and who your best customers are.
• It lacks a proper back up and some times it can delete accounts that are still in use.
• They both support a lot of the functionality found on the browser-based version.
• With the most expensive GoDaddy Bookkeeping plan only costing $14.99 per month, there’s no doubt that price is one of the biggest benefits of this platform.

Once you sign up for a plan, check out our Advanced Payments feature, which includes recurring billing. Snap receipt photos, email receipts to your account, and import expenses from your bank account. GoDaddy Online Bookkeeping takes the bulk of the work out of your hands. By connecting your accounts, GoDaddy Online Bookkeeping automatically updates and imports all your receipts, transactions, and invoices. This will allow you to rest easy and simply run your business without any manual entries or time-consuming spreadsheets. The GoDaddy Online Bookkeeping Get Paid Plan is best suited for beginning freelancers or small business owners just starting out and with little to no accounting knowledge.

GoDaddy Bookkeeping Review – Summary

It’s simpler to manage your business, 98% of customers… GoDaddy’s features are simple, straightforward and user-friendly. As such, the package is a decent option for freelancers who want a basic tool for helping them keep their bookkeeping in order. Before you decide whether GoDaddy Bookkeeping is the right bookkeeping service for your small business, you’ll want to explore some of the top alternatives on the market. As we’ve mentioned, there are both bookkeeping and accounting software solutions that may be able to better fulfill your needs.

Now, any business, regardless of dimensions and industry, can get rid of the most repeating and admin tasks. Discard the superstition you need lots of money or numerous years of development experience to improve operations. The all-in-one platform lets you perform any work-flow while Bots dominate guidebook obligations. Take advantage of operations that run in real time without human being assistance and sense confident knowing documents and files are https://www.bookstime.com/ increasingly being routed between methods and users 24 hours a day. If, keeping these cons in mind, you are looking for a cost effective solution and are happy with basic bank feed tracking for your expenses and revenue, then Wave is certainly a good solid choice. Overall, Xero is an excellent bookkeeping alternative to both GoDaddy and Quickbooks for Etsy sellers who are looking for an easy way to stay organized and keep on top of their finances.

QuickBooks Online is much better than GoDaddy Online Bookkeeping. With QuickBooks, you get more bang for your buck in terms of features, and Intuit as a company is much more secure than GoDaddy. QuickBooks also offers far more integrations (try 650 integrations to GoDaddy Bookkeeping’s 9). As GoDaddy Bookkeeping is a relatively small player in the accounting world, there are few reviews on this software specifically. Available reviews on TrustRadius rate the software 6.9 stars out of 10.

What features does GoDaddy Bookkeeping include?

You can also track your estimated tax payments due and sales tax that has been collected. GoDaddy Online Bookkeeping will also help you understand Form 1099-K, should you ever receive one. This article digs into what exactly GoDaddy Online Bookkeeping does, how simple it is to operate, and what plans and pricing it offers. Plus, it includes what type of business would be best suited to use this software.

Although you have to opt for the Essentials or Premium plan to utilize this integration, this capability can be particularly useful for business owners who sell on those platforms. With GoDaddy Bookkeeping, these online sellers will quickly and easily be able to manage their finances with automatic access to their sales data within one system. This brief background aside, like any other web-based bookkeeping software, GoDaddy Bookkeeping allows you to digitize, automate, and optimize your bookkeeping processes. This being said, GoDaddy Bookkeeping differs fromaccounting software in that typically, accounting software platforms will automate your books and provide insights on your business’s financial data. Janet from Paper & Spark has created a wonderful range of downloadable spreadsheets for sellers, with basic profit & expense tracking and inventory management. There is also the ability to manually import data from PayPal, Etsy and Shopify which can be handy if you sell via these channels.

There was a mistake on some of the money coming in and it listed it all as profits for the year. This was incorrect information that I didnt notice until my report for tax season came in. I needed to pay closer attention to the titles for deposits. Generally like having multiple years of business data on the cloud.