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NEW YORK ( TheStreet) -- This might just go down as the year Intuit (INTU) lost its lock on the accounting software market.
Yendo is an almost absurdly powerful and easy-to-use accounting tool for not a lot of money. At first blush, Yendo looks like an entry-level Web-based accounting package. It has a bland, tab-based layout of pages such as Home, Sales, Contacts and Tasks. But behind the boring look is some serious accounting and budgeting power. Yendo supports a solid invoicing app that manages bills. It has a clever Purchases concept that lets you tag your spending by who does it, when and for what -- effectively bringing the notion of the purchase order to even a tiny firm. I especially liked the Reports sections, which breaks out Profit and Loss, Trial Balances and a surprisingly accurate Balance Sheet. It's sort of a hallelujah moment for bean counters trying to manage a small firm. In all, if you want to get a feel for what Uncle Sam will take out of your pocket, Yendo is a darn impressive way to do it.