I recently found a new web tool that gives the personal finance arsenal tools a small business twist. I often write about sites like Mint and Thrive, but those are both focused on individuals. For business owners, you might be interested in start-up inDinero.
Before I go on, I have to note that inDinero is not completely free. There is a free plan for entrepreneurs with less than 50 transactions per month, but larger businesses have to pay $30 per month or $100 per month for the higher tier plans. (At least it is a deductible business expense)
The site has many of the features of Mint and Thrive, but focused on accounting rather than a personal budget. The site can connect to many financial institutions, such as banks and credit card companies. It aggregates your data into a basic cash statement that helps you monitor cash flow and liquidity, which is very important for small businesses. It also gives you spending, income, cash, and net income trending over time.
If you are a small time freelancer or blogger, like me, this could be a great way to break out your expenses from your personal expenses for free. If you have a larger business, it may be worth the cost (and accountant savings) to give something like this a shot.
If you are interested, visit inDinero’s homepage. Do you run a small business and have other online tools, maybe even free ones, that you use for this purpose? If so, please share in the comments.