Is it good for small business accounting?
I want to know if this is a good application for a small home based business. To keep track of expenses, and revenue. Are you able to put expenses in different catagories, like advertising, shipping expenses etc?
- Asked by Mark S from Carvel
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1 Answer from the Community
iBank 4 is a good solution for tracking all kinds of income or expenses, whether you are using it personally or to manage a small business. Every transaction can be categorized (or sub-categorized), may be coded for taxes, and can in turn be used to generate customizable reports from iBank's templates. Data can be imported from your checking or credit card accounts online (whether business or personal), or exported to a spreadsheet like Numbers or tax software like TurboTax.
If your business grows to a point where you need to generate invoices, track inventory or manage a payroll, those more advanced business tools are not part of iBank's capabilities - at that point you'd need a more expensive accounting package to handle your success.
- Answered by Scott B from Putney