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Business applications have optimized virtually every task for running the backend of a company. In most cases, these tools are standalone products, which create compatibility issues when you add new apps.
The new Sunrise bookkeeping app from Lendio called Sunrise is going to combine accounting, cash flow management, loan and credit information into a single platform. This will get rid of the compatibility issues to deliver better optimization.
In addition to these features, Lendio is integrating its market place for business loans, which includes a network of more than 75 lenders. For small businesses and solopreneurs, it means a one-stop shop for taking care of cash flow, billing, expense tracking, and even funding.
Bringing these features and data together will allow businesses to be more efficient when it comes to finances. This is what Brock Blake, CEO and founder of Lendio, explained in the press release.
Blake says, “The Sunrise platform will bring together previously disparate sources of information for small business owners, such as accounting, loan and credit data.”
Maintaining the Books
If you don’t maintain your books properly, everything from payroll to cash flow, product lines, pricing, customer capacity and more will be guesswork. This makes it unnecessarily complicated when it comes time to use the information, such as paying taxes,
When your bookkeeping and accounting records are updated regularly, you get a much clear picture of your finances. This allows you to cut products and services which are underperforming and save time and money when tax time rolls around.
By keeping accurate records, you protect yourself from different liabilities including tax audits and payment discrepancies with clients.
Sunrise Bookkeeping App Features
According to Lendio, Sunrise will give business owners a more accurate, real-time insight into their business finances. The company says this will let owners better visualize their cash position, understand their financial health and predict their future capital needs.
The features start with cash and accrual-based accounting to keep track of your income. This is followed by an invoicing system capable of creating personalized invoices, automated recurring invoices, create quotes and estimates online, and payment reminders.
After you create the invoice, it allows your customers to pay with credit cards using the Sunrise secure customer portal. And it comes with a very useful feature which notifies you when invoices have been viewed. This feature alone will save you a considerable amount of time by eliminating the back and forth of invoicing.
Sunrise also syncs your bank accounts and credit cards so you can better categorize and track your expenses and income. All your receipts, whether they are from your store or online, are in a central location. This includes profit and loss, balance sheet, tax summary, accounts receivable and customer statements.
This information is encrypted, stored and backed in multiple data centers to ensure the safety of your data.
In addition to the new app, Sunrise also provides dedicated professional bookkeepers. These bookkeepers are available with all the premium tiers of the service.
When you signup for a paid version, Sunrise will assign a bookkeeper within 48 hours. And moving forward, they will reconcile your books each month.
They will make sure you have access to your monthly cash flow reports. And they will also be available to answer all your questions.
Sunrise is now available starting with a free version.
This article, “Lendio Launches Sunrise, A New Bookkeeping Platform for Small Businesses” was first published on Small Business Trends