Free Accounting Software (#114)
/In this podcast episode, we talk to the president of a company that offers free accounting software (which has since been acquired by godaddy.com). Key points made are:
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Outright offers free accounting software. It charges a fee to file Form 1099s and for certain tax services, but the basic service is free.
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The system pulls in data from credit cards and PayPal and converts it into information that can be included in tax returns, also calculating the amount of tax owed.
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The system is targeted at the small business owner.
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The main orientation of the system is toward the preparation of tax returns.
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Information is stored on the Internet, using bank-level security.
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This approach avoids the risk of losing data when a local computer crashes.
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The system is easy to understand and use, with a minimal need for accounting knowledge.