TNW Quick Hit
SkyLedger is a slick tool any small or medium size business can use to create an accounting system in a matter of minutes.
Enjoyed: As SkyLedger touts, the system is “dead simple to use.”
Annoyed: SkyLedger only offers two account options, a free version and an upgraded account.
In my other life I joyously spring through each day as a small part of the tremendously fascinating existence that is the world of high finance. Indeed, it is as fun as it sounds.
If not fun, finance is certainly complex. Ask anyone who has run their own company and keeping the books can quickly turn to cooking the books if good accounting practices are not followed.
Thankfully SkyLedger exists.
Created by Cloudmanic Labs, SkyLedger only requires entry of a few pieces of information before one is up and running on a powerful bookkeeping system for nothing or next to nothing. The free version of SkyLedger provides 50MB of space, 20 transaction per month and access for 3 users. The upgraded account is $5 per month for 10GB of space, unlimited transactions and unlimited user access. Only the smallest of small businesses should opt for the free account given the small price to pay and superior access the upgraded account features.
After setting up your account, the user is taken to the “Dashboard” where recent activity (income and expense entry) and reports run are accessible.
When adding expenses or income, one can enter Vendor information, dates, notes, information about the transaction, and add attachments.
After accumulating some activity (hopefully more income than expenses), one can run reports with income and expenses by Vendor, by label, or pull an income statement. Moreover, all of the reports can be easily exported.
SkyLedger is very simple to use while still providing a full-featured accounting tool to rival more expensive options like those from QuickBooks and Outright.com.
SkyLedger is a tool which allows users to add extra functions after getting up and running with the service at one’s ledger, at no additional costs. Further, SkyLedger is cloud-based and paperless. There is no saving data to a hard drive, making one’s accounting data available and accessible from almost anywhere, especially when their iPhone and Android apps launch in the not to distant future.
If you are a business owner, large or small, SkyLedger is inexpensive, easy-to-use, and packed with features that will keep you from seeing red even if your business isn’t succesful enough to do so.