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Outright.com Now Tracks Business Performance Automatically with PayPal and Credit Card Import

Outright.com, (www.outright.com) the free small business web service for tracking business performance and preparing taxes, comes out of beta today after launching in July 2008 and seeing 40% month-over-month customer growth. Outright.com adds to its robust list of partners with the announcement of their integration with PayPal and Expensify, putting financial recordkeeping on autopilot for anyone who is self-employed. Outright.com users have earned almost half a billion dollars in income and Outright has helped these entrepreneurs deduct $225 million dollars from their taxes.

Outright.com gives small business owners the ability to access and assess the financial health of their business at anytime, from anywhere. With the integration with eBay, Freshbooks, and Shoeboxed, and now PayPal and Expensify, business owners can now use Outright.com to automatically record income and manage expenses.

Because Outright.com stores financial transactions in the cloud and enables seamless integration with other online financial tools via its API, small business owners no longer have to deal with the headaches of tracking their income, expenses, estimated taxes, credit card transactions, receipts, and e-commerce and PayPal transactions. They can now oversee the growth of their business and manage their losses anytime, anywhere with an Internet connection.

Here’s how the new features work:

Automatic Credit Card Import: Using Expensify’s PCI compliant import technology, small business expenses made with credit cards are booked and categorized for the IRS on Outright.com. Maximizing deductions and helping entrepreneurs find ways to save money, the credit card import automates laborious expense record keeping, ensuring appropriate deductions are matched to every expense hitting the books and properly accounting the records for tax time.

Sync with PayPal: Recording sales for millions of merchants, Outright’s import of PayPal transactions tracks income and credit card transactions across multiple ecommerce channels. Business owners no longer have to manually record each sale they’ve made on eBay, etsy, or their own store; online merchants managing their checkout with PayPal, have sales automatically recorded and reported with Outright.com.

In another recent effort towards automating financial recordkeeping, Outright.com launched an eBay selling manager application (SM app) to streamline and simplify ecommerce financial records for hundreds of thousands of active sellers. For sellers, the SM app automates the tracking of all sales, expenses and eBay transactions for free.

“By integrating directly with the biggest ecommerce channels like PayPal and eBay, and automatically pulling in your credit card spending history, Outright.com makes financial recordkeeping as simple and efficient as possible for self-employed business owners who don’t have time or resources to invest in bookkeeping and accounting,” said Kevin Reeth, CEO of Outright. “Small business owners using Outright can spend less than 30 minutes a month on bookkeeping -- and we’ll continue to free up even more time for them as we integrate more online financial resources, so they can focus on making their business successful.”

Says eBay store owner Kelley Hopper "When I first heard of Outright I thought it was too good to be true. I am amazed that they found a way to make eBay sales accounting easy. It used to take me four hours a week to record my sales and expenses in Quickbooks then analyze the results. With Outright, I can click a tab and see where I am monthly and yearly all in one place."

This year’s economic downturn has forced many out of corporate America and into self-employment, growing a new workforce that now needs to manage their own bookkeeping efficiently and cost effectively. Outright.com continues to respond to the needs of users, helping the self-employed put their transactions, income and expenses on autopilot so they can focus on growing their business.

ABOUT Outright

Outright.com is incredibly simple, online business tracking and reporting, specifically created for the self-employed. From credit card transactions, to receipt scanning, to invoicing, to income and expense tracking, Outright.com offers the most robust suite of back-office capabilities for the growing ranks of America’s 20 million self-employed. Created by entrepreneurs and Intuit alums, Outright’s goal is to keep financial records and bookkeeping as simple as possible, helping small businesses accurately track all of their income and expenses to estimate and prepare their taxes and manage the overall health of their business. For more information, visit www.Outright.com.

ABOUT Expensify

Expensify does "expense reports that don't suck!" Expensify does this by importing expenses and receipts directly from 94% of US credit cards, submitting PDF expense reports through email, and reimbursing entirely online using checking accounts and credit cards. For more information, visit www.Expensify.com

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