Sunrise, by Lendio, is bookkeeping, invoicing, and accounting software that manages books of account, cash flow, and other business transactions. It can be used to issue personalized invoices, send quotes and estimates, generate financial reports, and track expenses automatically. Its pricing ranges from $0 to $499 per month, and it works best for freelancers, solo entrepreneurs, and small businesses that need professional assistance in keeping track of their daily income and expenses.
Sunrise Pros and Cons
Reports are very limited
Provides an integrated invoicing system
Reported difficulties in the PayPal integration
Excellent customer service
Who Sunrise Is Best For
- Freelancers and solo entrepreneurs: The Self-Service plan is ideal for independent contractors and solo business proprietors because it enables them to create unlimited invoices and reconcile unlimited bank transactions for free.
- Small businesses that need professional assistance in keeping track of their daily income and expenses: All of Sunrise’s paid plans come with a dedicated professional bookkeeper who can help small businesses manage 50 to 500 bank transactions per month.
Sunrise’s pricing is composed of a free self-service plan and four paid plans: Early ($149/month), Growing, ($299/month), and Corporate ($499/month). The main differences between the plans include the number of bookkeeper-matched transactions per month and level of bookkeeper support as well as access to premium features like monthly closing of books and payment gateway integration.
Monthly Maximum Bookkeeper-matched Transactions
Are you looking for a company that scales as you grow? Check out QuickBooks.
Sunrise’s free Self-Service plan allows users to create unlimited customized invoices, manage unlimited bank transactions, generate cash flow reports, and perform double-entry accounting. It also enables users to accept online payments via credit cards (2.9% plus 30-cent processing fee) and bank transfers (1% bank transfer fee).
The Early plan from Sunrise provides users with a dedicated professional bookkeeper who can match up to 120 transactions per month. It also provides bookkeeper support via text and email, monthly closing of books, and payment gateway integration through PayPal, Square, and Stripe.
The Growing plan similarly provides users with the services of a dedicated bookkeeping professional, payment gateway integration, and monthly closing of books. The bookkeeper can help users match up to 200 transactions per month. Bookkeeper support via phone, text, and email is also included.
The Corporate plan gives users the same benefits as the Growing plan. The only difference between the two is that Corporate users can match up to 500 business transactions per month.
Popular Accounting Software 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
Sunrise provides both professional bookkeeping services and a dashboard-based accounting platform that gives users detailed information about their financial transactions. Some of its key services include financial reports, personalized invoices, expenses tracking, and double-entry accounting.
Sunrise gives users periodic financial reports that let them gauge their organization’s financial stability. These reports include profit and loss (P&L) statements, balance sheets, tax summaries, customer statements, and accounts receivables.
Sunrise users can create personalized invoices that they can email to their clients. Users are provided with an invoice template that includes custom fields and automated price calculations. Users can also set-up recurring invoices that are sent automatically to their clients. Users can also add discounts and other promotions in their invoices. Sales and other state taxes are added to the invoice automatically.
Users can link their bank accounts and credit cards to their Sunrise account, which can be used to track expenses in a centralized system. They can also capture and store receipts to import and categorize their expenses automatically. This feature helps them monitor their expense claims and take control of their finances.
Sunrise has a complete general ledger that allows users to perform double-entry accounting. It also features customizable opening balances, chart of accounts, and a journal. This functionality makes it easier for users to locate the source of any data entry errors.
Which Accounting Software Provider Is Right for You?
Most Helpful Sunrise Reviews
Most Sunrise reviews online give it satisfactory remarks. Many users like its clean and easy-to-use interface. Others like its expense tracking and customized reports features. Some reviewers, however, reported problems in connecting their PayPal and Sunrise accounts. Others also reported that their accountants prefer other competing accounting software.
Efficient tracking of financial transactions
One reviewer on Capterra commented that the program is cheap but provides a lot of capability, including allowing users to keep track of where their money is, create invoices, upload bills, and generate PDFs to send to customers. He also liked its user interface because it facilitates easier bank reconciliations.
Poor PayPal integration
A reviewer on Capterra complained that it does not integrate well with PayPal. She added that she almost exclusively gets paid through PayPal so it would be better if her bookkeeping tools are more properly connected.
Sunrise Frequently Asked Questions (FAQs)
How many users can access my Sunrise account?
There is no limit to the number of users that can access an organization’s Sunrise account.
Can Sunrise help me with my tax filings?
Sunrise users have access to Sunrise Tax Assist, which makes it easier to prepare business tax filings. It includes access to an expert tax checklist, to ensure that all documents are organized before filing. Users can also use it to generate employee 1099s and other tax documents. It can also provide an estimate of how much taxes have to be paid.
Can Sunrise help with business funding?
Sunrise is a subsidiary of Lendio, a business loan aggregator that can help users obtain loans and other kinds of business financing. Sunrise users can apply for financing in as little as 15 minutes, and Lendio can provide business loan options from more than 75 lenders.
What is the role of the dedicated bookkeeper?
A dedicated bookkeeper will be assigned to you and will call you 48 hours after signing up to get to know your business goals. Each month, the bookkeeper will reconcile your books and ensure that you have access to your monthly cash flow reports. If you have questions, then they will be available to assist you.
Our Top Accounting Software Provider Picks
If you aren’t sure that Sunrise is right for you, then this article on the 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.