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March 15, 2011

Ledgerble – Easy Accounting for Small Businesses

Ledgerble is an application designed to be the easiest accounting system available to small businesses today. For companies that can’t afford to hire an account or an in-house financial guru, using Ledgerble might just be the next best option. On top of everyday accounting needs, the web-app also offers help with tax preparation and expense reporting. And for those days when money management slips your mind, Ledgerble sends friendly email nudges as a reminder to input the day’s income and expenses.

To determine whether Ledgerble is a good fit for your business, try it out for free. Head to your Ledgerble dashboard to get an overview of your finances at any time, or click on a specific section – like Income, Expenses, or Accounts – for a more detailed look at what’s been going on. Ledgerble keeps track of your payables, receivables, and any business banking data you’ve imported into the site. As invoices get paid, you can quickly type in the client details and amounts. Ledgerble also syncs up checking and savings account data as a way to lessen the load on entrepreneurs who would otherwise have to enter – and categorize – each purchase into the system by hand. Assuming you’ve been inputting all the income and expenses for your company, you can sit back and let Ledgerble generate your business’ accounting records. Balance sheets and profit/loss statements can be generated in real time, either on an everyday basis or just before tax-time each spring.

For busy entrepreneurs, Ledgerble offers a number of features that make adding expenses even easier. The web-app lets users send expense information as SMS text messages and automatically adds those items to the users’ accounts. It also sends out automated email “nudges” when accounting information becomes out of date. For business owners and freelancers who want a bare bones accounting app that gets straight to the point, Ledgerble is it.

Practical Uses:

  • Keep track of your company’s income and expenses
  • Text your expense information to Ledgerble and have it show up in your account
  • Get automated emails when you haven’t updated your accounts in a while
  • Generate profit/loss statements to show potential investors

Insider Tips:

  • Ledgerble works on the iPhone, iPad, Blackerry, and Android devices
  • Automated sales tax reports can be generated at any time
  • Invoices can be filtered by due date, contact, category, or total amount
  • Online banking data can be imported directly into Ledgerble

What we liked:

  • Ledgerble is straightforward and completely uncomplicated
  • Automatic email nudges are an excellent way to remember to update information
  • Ability to send specific expenses as SMS messages
  • Ledgerble can create a number of different types of reports based on the information already in the system

What we didn’t like:

  • Ledgerble does not offer any free plans, even for freelancers and single users
  • Users must import their banking data manually each time they want to review recent transactions

Alternatives:

Company Info:

  • Launched: 2009
  • Privately Held
  • Headquarters: Montreal, Quebec and Scottsdale, Arizona
  • Founded by: Michael Peterson
  • Web site: http://www.ledgerble.com

Costs:

  • Free 30-day trial
  • Premium plan is $14/month

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