This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Get Ready for Free Tax-Prep Software That Actually Works

NEW YORK (TheStreet) -- I will leave Intuit's fate to better minds. But considering how good free business accounting tools like Wave Accounting are becoming, it's a safe bet the company won't be bumping up prices for business ledger management software like QuickBooks.

The Web era's "everything-as-ad-supported-medium" business ethic has found an odd new niche: business accounting software. Never mind that excellent business ledger tools are cheap. Intuit and Outright, both based in Mountain View, Calif., and Vancouver's Kashoo offer powerful accounting tools for about $10 a month.

9 Stocks That Prove Dividends Make All the Difference

In these Web free-to-all days, sophisticated ledger-management payment and bank reconciliation software packages -- the once-for-enterprise-only stuff of ADP, NetSuite or Peachtree by Sage -- are now ad-supported Web services that are totally free.

That is correct: When it comes to business accounting, free is the new black.

No-cost services are flourishing. Toronto-based Wave Accounting claims it has managed a combined $20 billion in expenses and income since it launched in mid-2010.

"We are currently signing up tens of thousands of small businesses every month," says Rob Maurin, vice president for community content and communications at the company.

To get a feel for how real, really free accounting tools are, I gave Wave a solid once-over this tax season. My takeaway: It is by no means perfect -- and the issue of privacy needs to be carefully considered. Still, I am seriously considering migrating my own business to Wave.

Here's why:

1. Free accounting tools work.

I was immediately impressed by Wave. Signup takes, no kidding, 12 seconds. I timed it. Just log in and get a free account. Try that with Intuit's QuickBooks. (Note: Use a stout password, please -- this is important information you don't want stolen.) In an instant, before you are all the graphs, ledgers and accounting tools you need to keep your business on the right side of the IRS.

7 Companies That Keep on Growing

The feature set is top-notch. There was an effective customizable recent activity and financial snapshot tool. I liked the ability to automatically import transactions from a bank or credit card. There were well-laid-out income reports, including a breakout of aging payables, a good sales tax reporting tool, and even a reasonable balance sheet engine.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
INTU $105.00 0.00%
AAPL $122.77 0.00%
FB $94.20 -2.80%
GOOG $627.26 0.00%
TSLA $253.39 -4.50%

Markets

Chart of I:DJI
DOW 17,568.53 -127.94 -0.73%
S&P 500 2,079.65 -12.01 -0.58%
NASDAQ 5,088.63 -48.8540 -0.96%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs