ScaleFactor is an online accounting software that helps you manage finance-related tasks such as bookkeeping and invoicing. Its features include expense tracking, bank reconciliation, and payroll management. Prices start at $399 per month, and it’s best for freelancers and business owners who need to offload mundane back-office tasks.
ScaleFactor Pros and Cons
Insufficient training materials
Hassle-free onboarding process
Becomes glitchy at times
Seamless data entry
Who ScaleFactor is Best For
- Business owners that need to offload repetitive back-office tasks: ScaleFactor helps you free up back-office accounting and bookkeeping tasks such as service accounts payable and receivable, bill payments, bank reconciliation, and even payroll duties.
- Freelancers: It lets you document the services you bill your clients for and keep track of your financial obligations such as invoicing, quarterly taxes, deductions, and cash flow.
ScaleFactor’s pricing page shows two annually-billed plans with prices that start at $399 per month. The main differences between the plans are the advanced features included such as class tracking and accounts payable (AP) and accounts receivable (AR) reporting and review.
Starts at $399
Starts at $550
Looking for a company that scales as you grow? Check out QuickBooks.
*Lump sum billing
It also offers the following add-ons: Bill Pay powered by Bill.com and Payroll with Gusto (both $100 per month).
Principal includes daily classification of transactions, on-demand view of your books 24/7, and expert-checked financials like monthly profit and loss statements and balance sheets.
This plan has all of the features in Principal, in addition to class tracking and comprehensive AR/AP reporting and review.
ScaleFactor Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing and distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
ScaleFactor provides you with a single and easy-to-use platform to manage bill payments, financial reporting, invoicing, payroll, and more. It helps you generate valuable financial insights to help you make informed business decisions. It also has a mobile app that allows you to access, manage, and keep an eye on your financial information on the go.
If you are wondering whether or not ScaleFactor is a good fit for you, then you might want to check out its top features below.
Track and compare your monthly expenditures and find ways to optimize your profit. Simply upload your receipts and you can then access all your expenses in one place.
Its built-in invoicing tool gives you access to your total number of open invoices, revenue, and overdue amount. It also enables you to set on-time automated payment reminders so that you can easily get paid by clients.
Artificial Intelligence (AI)
ScaleFactor utilizes AI and machine learning to categorize transactions, and then it automatically feeds the gathered data to your accounting file in Xero or QuickBooks.
Make payroll a breeze with ScaleFactor’s partnership with Gusto and Automatic Data Processing, Inc. (ADP).
Most Helpful ScaleFactor Reviews
Users who gave positive ScaleFactor reviews like its simple and user-friendly interface. Others praised its easy and painless onboarding process, while some said that its data entry function is efficient. Meanwhile, those who left negative reviews dislike that it becomes glitchy at times and that it lacks sufficient training materials.
Great onboarding process, complete reports
Users who left negative reviews on Capterra said that its team makes onboarding easy and handles all of their bookkeeping and accounting tasks. They added that the platform gives them clear and comprehensive reports every month and that the team pings them for clarification from time to time.
Lacks training resources
Users who left negative reviews on Capterra wish that there were more training resources available so that they could better understand the full capabilities of the tool.
ScaleFactor Frequently Asked Questions (FAQs)
Do I need to connect my bank account to the ScaleFactor platform?
Yes, you do, since the platform will use your bank details to gather your accounting data. However, worry not as its team won’t be able to view and store your login information.
What software does ScaleFactor integrate with?
ScaleFactor integrates with Xero, QuickBooks, Salesforce, Stripe, Gusto, and Abacus.
Does it have a mobile app?
Yes, it does; and you may download its mobile app on Google Play and the App Store.
Our Top Accounting Software Provider Picks
If you aren’t sure that ScaleFactor is right for you, then this article on the 4 Best Accounting Software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on features like detailed financial statements, invoicing, and bill tracking.
Disclaimer: The following information was provided by ScaleFactor and does not necessarily reflect the views of FitSmallBusiness.com.
What is ScaleFactor?
ScaleFactor is the smart finance and accounting software that is changing the way modern businesses operate. By automating complex bookkeeping tasks and translating financial information into usable business insights, we are enabling business owners, managers, and entrepreneurs to focus on what they love: running and growing their business.
In 2013, ScaleFactor founder and CEO Kurt Rathmann was determined to find a solution for the accounting problems he was facing as a CFO. He was on a quest to automate the painful, time consuming accounting tasks he and his team were forced to complete manually. In 2014, ScaleFactor was started at his living room table.
Today, ScaleFactor’s intuitive software automates accounting, tax, and finance tasks to save business owners time and money. ScaleFactor’s team of finance, software development, marketing, and sales professionals share a common goal: to empower business owners to make the best strategic and financial decisions.
ScaleFactor News & Activity
- ScaleFactor Launches Android App for Real-Time Accounting and Financial Transparency
- ScaleFactor Hires New Senior VP of Lending
- ScaleFactor Hires New Senior VP of Marketing
- ScaleFactor Appoints Francis Sullivan as Chief Technology Officer
- ScaleFactor Closes $30M Series B Funding Round to Power Small Businesses, Accelerate Back Office Automation via Business OS
- State of the Cloud 2019: Bessemer Predicts ScaleFactor Will Be An Instrumental Player in Automation
- Austin’s Best Places to Work, 2017 and 2018 – Austin Business Journal
- Austin’s Coolest Companies 2018 – Austin Inno
- Best Bookkeepers in Austin, 2017, 2018, 2019 – Expertise
- 50 Austin Startups to Watch Report 2017 – Built In Austin
ScaleFactor Customer Service
ScaleFactor’s software turns accounting into a simple to-do list. Backed by a support team of CPAs and tech experts, ScaleFactor helps customers stay compliant and keep their books up-to-date. Plus, our financial chatbot Marge is available 24/7 to answer your most pressing financial questions.
What makes ScaleFactor stand out from the competition?
ScaleFactor is the only back office provider creating a holistic business OS that allows users to manage all of their business financials in one place. Unlike your local bookkeeper or accountant, our smart software gives users access to real-time financial information any time. With clean books, detailed insights, and the ability to see cash projections up to 6 months out, ScaleFactor gives owners, executives, and controllers more visibility into their business.