inDinero is a scalable cloud-based bookkeeping and accounting software that helps you create a cash plan and budget, send customized invoices, generate financial reports, and prepare tax returns. Its features include monthly reconciliations, invoicing, a dedicated accounting team, and a mobile app. Prices start at $300 per month, and it is best for startups that need cash-basis accounting software and small businesses that require an accrual accounting solution.
inDinero Pros and Cons
Scalable; easy to use and understand
A bit expensive compared to similar software providers
Seamless automated vendor management
Lacks multicurrency support
Detail-oriented and responsive customer support
1099 tracking is cumbersome
Who inDinero Is Best For
- Startups that need cash-basis accounting software: inDinero’s Essential plan gives you access to a cash-basis accounting process that can help you plan your startup’s future funding and create a financial forecast.
- Small businesses that require accrual accounting: Its Custom plan is particularly designed to help growing companies that need accrual accounting, controller support, and fractional chief financial officer (CFO) services.
inDinero offers two packages with prices that start at $300 per month. Its Essential plan is designed for startups that need simple cash-basis accounting while its Custom plan caters to businesses with more complex needs and would like to scale up their operations.
Starts at $300
inDinero also offers a basic tax filing service, which includes tax preparation and filing of one federal and one state tax return. You will be charged extra fees for additional tax filings.
The Essential plan is targeted at startups that need cash-basis accounting. It includes the following features: automated transaction imports, document management, monthly reconciliations, employee reimbursement, accounts receivable (A/R) and accounts payable (A/P) tracking and reporting, profit and loss (P&L) and balance sheet, dedicated account manager, and mobile app.
If you need accrual accounting, controller support, and fractional CFO services, then inDinero’s Custom plan is for you. It includes everything in the Essential plan along with the following premium features: advanced revenue recognition, custom reporting, multiple entity support, cash flow projections, inventory reconciliation, payroll support, and dedicated controller.
inDinero Alternatives 2020
Online Bookkeeping Services
(Best Overall) Businesses that need full-service bookkeeping
Businesses that need an all-in-one solution for managing their finances and taxes
Businesses that currently use Xero or want to move to Xero
Those who would like mobile access to financial data
Those who are on a budget
Those who want to use integrations
Businesses that require industry-specific financials
In addition to industry-specific software, your business might be well served by general-purpose small business accounting software.
Whether you are a startup that needs basic accounting features or a company that requires fractional CFO services, inDinero has a wide range of solutions that can support your needs. Let’s look at some of its top functionalities to help you gauge whether or not inDinero is for you.
inDinero includes customized matching and artificial intelligence (AI)-powered grouping rules to help you simplify your reconciliation process and increase its accuracy.
Dedicated Accounting Team
Your inDinero’s on-demand CFO will serve as an extension of your company and help you manage your accounting duties, such as creating a budget, tracking your finances, and more.
A/P and A/R Tracking Modules
This feature enables you to streamline, manage, and monitor your accounts payable, such as purchase order and payments, and accounts receivables like invoices, customer receipts, and collections.
Available in the Custom plan, this functionality is designed for those who don’t want to settle for templated reports. You may customize your financial reports based on the unique requirements of your business.
inDinero serves as your virtual filing cabinet where you can upload, download, view, or delete financial documents like capitalization tables, monthly billing statements, and tax returns.
Summary of inDinero Reviews
As of this writing, there are very few up-to-date inDinero reviews online. Users who shared some reviews on G2 mentioned that the software is easy to use and that its customer support is extremely responsive. If you are a past or current inDinero customer, then kindly leave a review to help others who are deciding whether or not to use the service.
inDinero Frequently Asked Questions (FAQs)
Can inDinero help me catch up on taxes?
Yes, it can. inDinero’s bookkeeping team can help you catch up on back taxes.
What can its fractional CFOs help me with?
Its fractional CFOs can help you with the following:
- Business analytics and key performance indicators (KPIs)
- Financial projections and models
- Budgeting and cash management
- Board reports and presentations
- Strategies finance consulting
- Capital raises
- Venture debt financing
- Equity management
- Exit planning
What software does it integrate with?
inDinero integrates with QuickBooks, NetSuite, Gusto, PayPal, Stripe, and Brex.
Where can I download its mobile app?
You may download its mobile app on Google Play or the App Store.
Our Top Online Bookkeeping Service Providers
In case you still aren’t sure that inDinero is right for you, then this article on the best online bookkeeping services is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on key services like bookkeeping, payroll, and tax services.