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Review of GoDaddy Online Bookkeeping

GoDaddy Online Bookkeeping organizes finances, making business and personal life easier. Save 20% on year-long plan: BzBook http://u.bzz.com/ygvg8 

I received a full 1yr account from GoDaddy and BzzAgent to test for a review. As a busy mom and part-time photographer, I'm always happy to try a product that claims to save me time and all for less than $10 a month! Where do I sign up? :) 

From GoDaddy:

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Stop wasting time sifting through spreadsheets, searching for receipts and tracking invoices. GoDaddy Online Bookkeeping connects all your accounts in one simple online tool so you can get back to business:
  • Within a few clicks, connect all your business accounts – such as bank, credit card, PayPal – to import and organize data without the hassle of manual entry
  • Tackle your taxes in minutes with a pre-populated Schedule-C worksheet
  • Accept payments online via credit card, PayPal or directly from your client’s bank account, and sync up your eBay, Etsy and Amazon accounts
  • Easily establish and schedule recurring invoices in under 5 minutes
  • Never lose a billable hour with time tracking
  • Check your business finances anytime on your laptop, tablet or smartphone
  • Rest assured knowing GoDaddy uses the same security measures as major US banks

Learn more:

http://www.godaddy.com/accounting/accounting-software.aspx?isc=BzBook&bzzuid=1460915

After the quick sign-up, I first linked my personal and business bank accounts. Linking was fast and automatic after account sign-in. I love having the ability to categorize and organize transactions (spending and income, both business and personal) according to categories such as shopping, gas or business expenses which you can then isolate in only that one category or all categories at once. The page is designed similar to a spreadsheet with an easy drop down menu for choosing the transaction's category.

I've not heavily used GoDaddy Online Bookkeeping for my business yet, but it's proved to be an asset to my personal spending. I was able to categorize all expenses and income and take a hard look at our finances. I could see where our money had been going and how much to each category added up for me. I could see exactly how much we'd spend this year sofar and was able to show my Husband the categories that needed work and it made the conversation so much simpler. Basically, the software provides a way to communicate that is neutral and prevents discord. Totally worth it for that alone!

As for business use, I can see my profit and expenses and even receive regular email updates without having to check in to my online account. It's definitely faster and simpler to input income and expenses or categorize those that are automatically added via my bank account. I'm looking forward to trying out the client billing (invoicing - payment by check, credit or paypal!) and time tracking features too.

Overall, I find GoDaddy Online Bookkeeping to be a worthy service for maintaining finances both for personal and business use. I'll be updating this blog entry when my 1yr trial is near completion when I'm able to provide a more thorough opinion.