GoDaddy Bookkeeping Review: Manage Your Money With Ease
As your small business grows, staying on top of invoices, finances, and taxes can be an especially daunting task. Most accounting software can feel inaccessible, with a certain level of knowledge or expertise required to even use a spreadsheet. GoDaddy Bookkeeping makes it an absolute breeze to keep on top of all the busy work that could easily bog down any seasoned business owner or freelancer.
This article digs into what exactly GoDaddy Online Bookkeeping does, how simple it is to operate, and what plans and pricing it offers. Plus, it includes what type of business would be best suited to use this software. By the end of this review, you will know if GoDaddy Bookkeeping is right for you and your business.
See what GoDaddy Online Bookkeeping can do for you, sign up for GoDaddy today.
GoDaddy Bookkeeping Review - Summary
Pros
- No accounting knowledge necessary. With GoDaddy Online Bookkeeping, you can manage your finances without any complicated tasks or wording to throw you off track.
- Since there’s no software to download, you can be up and running with GoDaddy Online Bookkeeping in a matter of minutes.
- Easier and cheaper than other competitors like QuickBooks.
- You can accept payments via credit and debit cards on your smartphone with the GoDaddy Online Bookkeeping mobile app, making it a breeze to run your business anywhere.
- Automatically create and send invoices, as well as view business reports. This allows you to stay on top of your business from anywhere.
Cons
- GoDaddy Online Bookkeeping is very focused on the United States. If you’re operating in another country you may find it a bit annoying to see everything in US dollar signs and there’s no option to choose your own tax year or country-specific formats.
What Is GoDaddy Online Bookkeeping?
GoDaddy Online Bookkeeping is an online application, meaning there’s no software for you to download, and all your information is stored on secure GoDaddy servers. Even if you lose access to your computer or device, you can still gain access to all your invoices and important information through GoDaddy Online Bookkeeping.
GoDaddy Bookkeeping works with quite a few credit unions and banks as well as PayPal, eBay, Amazon, and Etsy. This lets you sync your business accounts to GoDaddy Bookkeeping with ease. Plus, GoDaddy Bookkeeping also has a mobile application, allowing you to be connected and in the loop with your business transactions, even when on the go.
Once you’ve connected all your business accounts, GoDaddy Bookkeeping imports all of your transactions. This process is safe, secure, and “read-only,” which means GoDaddy Bookkeeping cannot make any changes to your accounts. GoDaddy Bookkeeping just imports your transactions for you, saving you the headache of manual entries.
There’s no need to fear faulty security, GoDaddy Bookkeeping uses the same type of security measures most banks do, protecting your data from hackers and viruses.
Learn more about how to streamline income with GoDaddy by reading our How to Integrate PayPal With GoDaddy article.
GoDaddy Online Bookkeeping Pricing
There are three main pricing tiers for GoDaddy Online Bookkeeping pricing and plans; Get Paid, Essentials, and Premium. The prices shown and discussed reflect the monthly cost when annual billing is chosen. If you choose to pay on a monthly basis, you will likely face higher costs.
GoDaddy Online Bookkeeping Get Paid Plan - $4.99/Month
This introductory plan comes with some general basics and is a great way to get started keeping track of all your business accounts. With the GoDaddy Online Bookkeeping Get Paid Plan, you can quickly and easily accept credit or debit card payments. It’s even set up that you can receive these payments from invoices or through your phone via the handy mobile app. This plan starts at $4.99 per month and comes with the following features:
- Invoices and estimates. GoDaddy Online Bookkeeping makes generating invoices a breeze. There’s also a feature that will send you automatic reminders if an invoice you’ve sent a client becomes overdue. This also includes several options for your customers to send you payments, making it even easier to get paid on time.
- Accept payment from your mobile device. Regardless of what type of smartphone you have, the GoDaddy Bookkeeping mobile app can accept payments, as well as manage your receipts, help you track mileage, and update or monitor invoices.
- Current year business reports. With GoDaddy Online Bookkeeping, all of your income and expenses are constantly organized and up to date. This includes automatic updates from banks, credit cards, eBay, Amazon, and more. Manual and cash transactions are made simple without any confusing spreadsheets.
Who Is This Plan Best For?
The GoDaddy Online Bookkeeping Get Paid Plan is best suited for beginning freelancers or small business owners just starting out and with little to no accounting knowledge. With an affordable price point, the Get Paid Plan makes setting up and syncing invoices a breeze and gets you prepared for when you’re ready for more.
See what GoDaddy Online Bookkeeping can do for you, sign up for GoDaddy today.
GoDaddy Online Bookkeeping Essentials Plan - $9.99/Month
Of all the bookkeeping plans GoDaddy offers, the GoDaddy Online Bookkeeping Essentials Plan is the most versatile. With an approachable price point of $9.99 per month, this plan helps you keep track of all your sales and expenses. Plus, doing taxes has never been easier. With built-in tax worksheets, any business owner will be able to tackle tax season in a matter of minutes, with fewer headaches and less paperwork.
The GoDaddy Online Bookkeeping Essentials Plan comes with everything mentioned in the Get Paid plan, as well as:
- Unlimited business reports. This handy feature helps you keep your sales and expense data all in one place. This makes it even easier to see where you’re making money and who your best customers are. This also helps you keep track of your spending and provide clues as to where you can improve revenue.
- Schedule C tax worksheets, sales tax, and more. GoDaddy Online Bookkeeping automatically organizes your transactions into IRS tax categories. This pre-populates a Schedule C Worksheet— a GoDaddy Online Bookkeeping exclusive you can’t get anywhere else. You can also track your estimated tax payments due and sales tax that has been collected. GoDaddy Online Bookkeeping will also help you understand Form 1099-K, should you ever receive one.
- Automatically import your bank and credit card transactions. Erasing the need for manual entries, GoDaddy Online Bookkeeping imports all your transactions every evening for you.
- Automatically import sales data from your Amazon, PayPal, eBay, and Etsy. It’s easy to connect all your business accounts, from your bank, credit card, PayPal, eBay, Amazon, or Etsy. These accounts will be connected through a secure, read-only connection, allowing GoDaddy Online Bookkeeping to update and sync them, but never alter them.
Who Is This Plan Best For?
For freelancers on the go, this plan is incredibly versatile and affordable. The GoDaddy Online Bookkeeping Essentials Plan is highly recommended for any LLC or small business owner looking to avoid a large hassle during tax season. Having your tax worksheets already prepped for you can help free you up to do other things— like grow your brand and reach new customers.
Make tax season a breeze, sign up for GoDaddy and get Online Bookkeeping Essentials.
GoDaddy Online Bookkeeping Premium Plan - $14.99/Month
Beginning at $14.99 per month, the GoDaddy Online Bookkeeping Premium Plan comes with everything included in the Essentials plan, but with one major improvement.
- Recurring invoices. If your business has clients that you must bill on a regular basis, this plan eliminates the hassle of having to remember and create a new invoice regularly.
Who Is This Plan Best For?
Not only do recurring invoices keep your income steady, but they are also a great fit for several types of businesses. Any service-based business or freelancer who bills for a fixed number of hours would find this plan effective. Ecommerce stores that offer subscription services, or any business that offers education or training can utilize this tool as a subscription or membership service. This plan makes it simple to charge customers for any services that occur on a renewed and regular basis.
See how recurring invoices can generate you more income, sign up for GoDaddy and get an Online Bookkeeping Premium Plan.
How Simple Is GoDaddy Bookkeeping?
The simplicity of GoDaddy Online Bookkeeping is that it does not require anything to download or install. It’s all hosted on GoDaddy’s secure servers, so you can have access to GoDaddy Bookkeeping from anywhere, on any device. Even if your computer breaks, GoDaddy Online Bookkeeping still has all your information intact.
GoDaddy Online Bookkeeping takes the bulk of the work out of your hands. By connecting your accounts, GoDaddy Online Bookkeeping automatically updates and imports all your receipts, transactions, and invoices. This will allow you to rest easy and simply run your business without any manual entries or time-consuming spreadsheets.
Getting Started With GoDaddy Bookkeeping
Once you’ve selected the plan you’d like to purchase, and have successfully added it to your cart, you can then choose the length of duration for your plan — from one month to 60 months.
Once you’ve signed up, GoDaddy Bookkeeping will prompt you to connect all your business accounts. From there, you can manage and view income, expenses, invoices, reports, and taxes.
The main landing page, also called the Overview page, helps you navigate this space. From here you can see and keep track of new sales, invoices, money available in specific accounts, expenses, and hours logged.
You can also head over to other pages, such as Income and Expenses to view statements from specific accounts, and transactions over specific dates and categories.
GoDaddy Bookkeeping keeps your invoices organized and offers a monthly time sheet for quick access to easy scheduling and an overview of your workload.
You can also generate profit & loss statements and maintain reports on different types of income, customers, vendors, and other topics involving your business.
GoDaddy Bookkeeping has an interactive and consistently updated tax worksheet section, allowing you to peek at it throughout the year or quarter. This will help you feel more prepared come tax time.
New to GoDaddy? Check out our handy How to Use GoDaddy article.
GoDaddy Bookkeeping - Conclusion
Whether you’re a seasoned accounting professional or someone who needs an accessible way to manage your transactions and money, GoDaddy Online Bookkeeping makes taxes, invoices, and managing accounts easy. GoDaddy Bookkeeping offers a plan for every small business, with the option to have recurring invoices or pre-constructed tax worksheets.
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Who Should Not Use GoDaddy Online Bookkeeping?
- Any corporation or larger business with multiple employees
Who Should Use GoDaddy Online Bookkeeping?
- Any small business or LLC wanting to be ready for tax season
- Freelancers or any individuals dealing with invoices regularly
- Any business owner not fluent in accounting jargon or software
Try GoDaddy Online Bookkeeping
GoDaddy Online Bookkeeping makes it easier than ever to efficiently manage your money and invoices. Start today by signing up for the plan that best meets your needs.
