Less Accounting Review
Is it so that you do not like to do book keeping for cash flows? If
yes, then you would not mind having an accounting tool that can relieve
you from the so-called hassle. This is exactly where Less Accounting has
a key role to play. Designed as a cloud-based service, Less Accounting
aims at making your bookkeeping duties hassle-free once with its handy
features for banking, bookkeeping, and customer management. It is a
suitable choice for those who need a simple online accounting
application for tracking cash, not for double entry bookkeeping.
The software is built by Less Everything Inc, a Jacksonville-based company that came up with the software to fulfill its own accounting needs. With the passage of time, the company developed the software further to include online invoicing, payables, mileage tracking, estimates, and Wesabe integration. The success of the software for the company itself encouraged the staff to make it a public app.
LessAccounting is simple and handy. Because the software runs online, you do not download anything on your desktop and yet access it at anytime. For those who find it difficult to use QuickBooks, the tool allows importing the fed data from QuickBooks for getting a comprehensive report on your financial transactions. Apart from that, the software can also download data from sites of banks and credit card agencies. This helps you to track your expenses and categorize them precisely for your records.
Setup and Interface
Setup is quick and simple. No technical knowledge is required to set your Less Accounting account.
Once you set up your online account, you see a neat, simple, and intuitive interface with all handy options accessible from the left panel. The panel shows all main options under Contacts, Bank Accounts, General Ledger, Money In, Money Out, and Reports.
Without using any add-ons, the interface allows creating and sending professional proposals, managing contacts, reporting cash statements, tracking invoices, and doing many other accounting tasks. Moreover, you can integrate several third-party Cloud-based apps such as those related to project management, ecommerce, CRM, and time tracking. This is also done without the need of technical skills or knowledge.
Proposals and Invoices
Less Accounting comes with many cool templates that you can edit and create your own proposal or invoice. The proposals you created are attached as notes to the relevant contacts, which you can later turn into invoices for sending to clients. Similarly, you can send invoices online to any contact/customer and track payments that can be accepted via PayPal. However, the program supports only PayPal; no other payment gateway is linked. The software also allows setting up invoices to reoccur when required.
Less Accounting tracks all business expenses easily as well as quickly. You can categorize your expenses, mark them due or paid, add notes, and upload a receipt snapshot to be associated with each expense. Categorization is possible by income type and project. Above all, the software is capable of sending you reminders of expenses that are due for payment.
The ability to track mileage is a rare feature to be found in accounting programs. A business trip mileage is certainly a business expense that Less Accounting logs in precisely. The benefit is that you automate an easily ignored opportunity of saving tax.
The reports generated by the software are such that in one glance, you can see all inflowing and outgoing cash. All you have to do is link your financial accounts to your account in just a few seconds. You can easily then see reports such as P&L, balance sheet, liabilities, fixed assets, receivables, payables, wages, and chart of accounts. You can even have a custom report and sort or filter them by several criteria such as tags, client, and date. You can also track payroll with reports.
reconciliation feature is straightforward. The software integrates with
several international banks for synchronizing bank data to your
account. Frankly, automatic synchronizing might not always function
which is a common issue in all cloud tools. Therefore, LessAccounting
can also manually import data from banks.
Accounting is ideal for freelancers and small businesses who wish to
get rid of manual book keeping pain. It has a sharp eye on your cash
flows, which takes away your stress of doing the same manually.