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July 21, 2010

inDinero – Simplify Business Accounting

Dozens of personal finance websites give individuals the tools they need to manage their money online, and now inDinero has given those tools to business owners, too. The money management application includes many of the features offered by traditional personal finance websites—such as account balances, spending patterns, and future financial prediction tools—but focuses them more directly on business users rather than individuals and families.

If you’re tired of logging into and out of various bank and credit card websites every time you want to check the balances of your accounts, then head over to inDinero instead and get started on the process of simplifying your life. You’ll need to input your login information for any credit cards, bank accounts, PayPal accounts, or money management web-apps that your company uses before you can begin. Once inDinero has downloaded your businesses financial data, it will parse through the information to find trends and make predictions that could affect the way you run your company in the future. Check out your total cash balance at any time by heading to the Dashboard page, where you’ll also find a list of your accounts, a link to view individual transactions, and a graph showing your cash trends over the past three months.

To dig deeper into the trends, check out graphs that show how much your business has been bringing in on a month-to-month basis. You can break down the numbers by month to see your income versus spending patterns, or view a graph showing your cash balance positions by themselves. With all of your various accounts in one place, you’re less likely to leave out any part out of the equation when making important financial decisions for your company, and more likely to make the kinds of smart decisions that will help your business continue to grow.

Practical Uses:

  • View how much money your company has to spend at any time
  • Monitor your money closely by reviewing individual transactions in real time
  • Save time by viewing all of your accounts in one place
  • Make logical business decisions based on your company’s financial trends

Insider Tips:

  • Integrate inDinero with your Freshbooks or Shoeboxed accounts
  • The more accounts you link up with the site, the more accurate the financial outlook features and predictions tools will be
  • Categorize each transaction and view only the transactions within a certain group
  • Create automated notices to let you know when clients are late paying their bills

What we liked:

  • inDinero has just enough tools to make it useful, without becoming overwhelming
  • All of the most important information is available on the main dashboard page
  • The application automatically downloads the latest transactions from each financial institution
  • Ability to sort and filter transactions by date, amount, or category

What we didn’t like:

  • The application might be too basic for larger businesses to use

Alternatives:

Company Info:

  • Launched: July 2010
  • Privately Held
  • Headquarters: Mountain View, California
  • Founded by: Jessica Mah and Andy Su
  • Web site: https://indinero.com

Costs:

  • Solo plan is free
  • Small Business plan is $29.95/month
  • Enterprise plan is $99.95/month

Comments

  1. Hey Stephanie + Appvita,

    Thanks for the great review! Just wait until inDinero releases the next batch of features. 🙂

    Best,
    Jessica

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