Use Cases of GoDaddy Bookkeeping 2023

Randa has written hundreds of reviews across a wide swath of business topics including ecommerce, merchant services, accounting, credit cards, bank accounts, loan products, and payroll and human resources solutions. Finally, for a GoDaddy Bookkeeping alternative that offers affordability, time tracking tools, and extended bookkeeping and accounting features, you might look into Zoho Books. GoDaddy is very easy to use, and its design, layout and language is well pitched for its freelancer and sole proprietor audience. The dashboard gives details on profit and loss, current expenses, your current timesheet and open invoices. It’s immediately obvious if you have tasks to perform, like sending a payment reminder (if this is not automated).

• You can, for example, add invoices and accounts, see the transactions behind the charts, and track time.
• GoDaddy simplifies tax returns so you can generate and file your taxes in a matter of minutes instead of days.
• The invoice forms include customer information, invoice number, purchase order number, date and balance.
• Hugh Wilson writes about business and the interface of business and technology for a range of titles including The Guardian, Telegraph, Independent, The Times, BBC and MSN.
• There is no double-entry and payroll, which means GoDaddy is unsuitable for larger businesses in need of a complete accounting solution.

Therefore, if you want a business partner, employee, or even business accountant to take a look at your bookkeeping, you’ll have to let them use your account information—which is not ideal for security. To explain, even though each of the GoDaddy Online Bookkeeping plans come at a low cost, they don’t compare to other solutions on the market. There are alternative platforms, like Wave accounting and ZipBooks, which both offer free software, with greater capabilities than GoDaddy. Alongside ecommerce integrations, invoicing is a standout feature, and one of the best in its class. The package also features easy setup, decent design and a nice mobile app.

Invoice Settings in GoDaddy Bookkeeping

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. Although Wave does not include the same time and mileage tracking capabilities that GoDaddy Bookkeeping offers, it provides greater functionality in nearly every other bookkeeping facet—and of course, it’s free. GoDaddy is a simple bookkeeping tool for freelancers and small time ecommerce businesses and as such it performs well. Tasks can be achieved quickly and outputs are generally clean and professional. The software’s own templates will be perfectly good for most freelancers and contractors.

There is no double-entry and payroll, which means GoDaddy is unsuitable for larger businesses in need of a complete accounting solution. GoDaddy is best known for its domain name service, website building tool, and small business email. From that core of services came the idea of a simple bookkeeping package for the freelancers and contractors How to get accounting help for startup who make up the lion’s share of Godaddy’s customer base. A full-sized business will need accounting items that the GoDaddy software will not give you, like assets and liabilities, a full chart of accounts, etc. You will probably need a more robust accounting system within a year of starting your business, assuming it becomes a viable business.

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But they are exactly what cash-strapped freelancers want to know. Talking of which, the ‘new events’ and ‘invoice activity’ links (under the overview tab) give useful up-to-the-minute information. At $9.99/month (discounted to $8.34/month if you sign up for a year), you can’t beat the price. There are a lot options available to an entrepreneur who is just starting out in business. One that may look attractive to a new startup with limited funds for accounting software is GoDaddy Bookkeeping.

For both Stripe and PayPal, you’ll pay 2.9% + $0.30 per transaction to accept online payments. This bookkeeping service emerged from GoDaddy’s acquisition of the software company Outright Accounting and now the software falls under the GoDaddy brand name. Talking of payments, https://simple-accounting.org/best-accounting-software-for-nonprofits-2023/ GoDaddy lets you accept payments via PayPal, Stripe and Dwolla, which is more gateways than some rivals allow. However, as your business grows and it becomes a entrepreneurial force to be reckoned with, you may quickly outgrow a program like GoDaddy Bookkeeping.

GoDaddy Bookkeeping Essentials Plan

You may have heard of GoDaddy before in another context—as the domain hosting service for small business websites. This review of GoDaddy Bookkeeping will help you know whether or not it’s right for you. GoDaddy Online Bookkeeping has been rendered as read-only as of June 23, 2022 and will sunset operations on September 30, 2022. PCMag is obsessed with culture and tech, offering smart, spirited coverage of the products and innovations that shape our connected lives and the digital trends that keep us talking. Sign up for our Weekly Apple Brief for the latest news, reviews, tips, and more delivered right to your inbox. The first thing that you should do when you sign into the app is to click the Settings link at the bottom.

While Less Accounting offers the most variety when it comes to reporting, GoDaddy does not have a bad selection of reporting templates. Support is available through the ‘Help & Community’ tab at the top right of the screen. From here, users can choose to scroll through previously asked questions or they can submit a request of their own. Users can add their details under the ‘Manage’ tab that runs along the top of the screen.