Mobile application ‘ONE UP’ automates accounting for small businesses

Accounting is considered one of the most frustrating aspects of small businesses, forcing millions of business owners into heartburn-filled sleepless nights as reported by Cheyney Group Accounting Software Blog. Simply because they know they must be knowledgeable and in control of their cash flow, margins, sales figures and inventory levels.

Recently, a mobile application called ONE UP claims to lessen the amount of time used to manage accounts to just a couple of minutes each month. It is the result of 4 years of development and recommendations from customers.

It automatically synchronizes with banks and provides suggested entries that can be authenticated with one click. It is considered as “hands-free” accounting that can automatically update your inventory, handle your Customer Relationship Management (CRM) and invoicing modules.

CEO of ONE UP, Francois Nadal said that it’s as if you had a Certified Public Accountant (CPA) on your shoulder. It is an effective app for small business, and with the accounting solution they literally provide hands-free bookkeeping. Simply just after 3 months most of your data entry is eliminated as the app learns about your business.

The app is designed to perform routine tasks automatically for small businesses ranging from a sole proprietor up to those with twenty employees. It is also developed for active business owners that are on the go, so they can manage their business from anywhere using their mobile phones.

The application includes several convenient features such as the ONE UP Inventory, which will synchronize with the Point of Sale (POS) so the inventory information is updated automatically and re-ordering can be done with a single click. It can generate packing lists or delivery notes from sales orders and even updates the status of orders.

ONE UP Accounting allows your accountant to log in from another location to audit your books or export your financial records to their location.

ONE UP’s CRM will track your chats, calls and task to help you organize your time so you can increase your opportunities with new customers or repeat sales.

Using the application is quick and simple, you just need to setup your bank account information, categorize your bank entries (expense, sale, and transfer), experience easy bank reconciliation, look at Cash Flow and Profit Reports and close out the year in a shot.

When an order comes in, the app’s invoicing will begin the process and you can even customize your invoices.  It will automatically email your customer when their invoice is ready and you’re able to keep track of your invoices with notifications sent out to your customers just before their payments are due. Sales are posted automatically with no hassle on your part.

The cost for ONE UP application starts up to $9 each month for a single user, but you can sign up for a 30-day trial at their website. ONE UP has clients in over 50 countries, and its software is used by 300,000 small business users. The app is based on the highly successful business suite myERP.com, and is recognized as a major partner with Google Apps and Square, Inc.

Cheyney Group Accounting Software Review: Saba Software to Be Taken Private

Saba Software, a troubled cloud-computing firm based in Silicon Valley, has agreed to be taken private by Vector Capital for about $300 million.

Vector, a private equity firm that had previously provided a loan to Saba, will pay $9 a share for Saba, which was delisted from the Nasdaq in 2013 and is currently traded over the counter. Including debt, the deal is valued at about $400 million.

Vector’s offer price was just below Saba’s share price until Tuesday afternoon, when trading in Saba shares picked up and leveled off at $9 a share.

Saba was delisted from the Nasdaq after it was forced to restate earnings following an accounting fraud scandal. Also on Tuesday, two former chief financial officers of Saba agreed to return nearly a half million dollars in bonuses and profits from stock sales that they received while the company was said to be misstating earnings.

After the scandal, Saba hired Morgan Stanley to explore strategic alternatives.

“Over the course of Saba’s comprehensive review, the board of directors and our advisers evaluated a wide range of strategic alternatives, and engaged with a number of parties,” said Bill Russell, Saba’s nonexecutive chairman. “We are pleased to have reached this agreement with Vector, which provides significant cash value for our shareholders.”

Saba makes cloud-based software that helps companies with hiring and talent management.

Vector, a firm that specializes in technology, has in the past also invested in WinZip, LANDesk Software and Register.com. Vector recently sold SafeNet to Gemalto for nearly $900 million.

“Vector, along with some of the world’s premier financial institutions and investors, is excited to help Saba move beyond its financial restatement process and put the focus squarely on the company’s innovative cloud talent-management platform and its blue-chip customer base,” said David Fishman, head of private equity at Vector Capital.

Saba received financial advice from Morgan Stanley and legal advice from Morrison & Foerster. Shearman & Sterling provided legal advice to Vector.

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