Start-up Company Aims to Simplify Small Business Cash Flow Management

By David H. Ringstrom

Two graduates from University of California-Berkley have launched what they hope will become Mint.com for small businesses.
 
Jessica Mah and Andy Su have just launched inDinero, which offers to aggregate all financial activity for your business into simple dashboards. This is accomplished through daily, automatic updates so that you can log into a single site to determine your current cash flow.
 
While Mint.com hopes to replace personal financial applications like Quicken, or the now defunct Microsoft Money, inDinero doesn't want to be an accounting package. The company's tag line, "Say hello to inDinero and goodbye to accounting" illustrates what they consider "a fresh approach to business finance."
 
You won't find profit-and-loss reports here – the primary dashboard distills your business down to three lines: income, spending, and difference. You can drill down to find charts that show Income and Spending, Cash Balance, Spending by Category, and Income by Category. And, in true start-up fashion, inDinero calculates your Cash Runway, which is a projection of how many months your present cash flow can support your business operations.
 
The site says that data can be downloaded from more than 10,000 financial institutions, but the service is only free for the smallest of businesses:
  • The Solo plan is aimed at new entrepreneurs with up to 50 monthly transactions.
  • The Small Business plan allows up to 500 monthly transactions for $29.95/month.
  • The Enterprise plan allows unlimited transactions for $99.95/month.
 
Both paid plans offer a 30-day free trial, and the service can be cancelled at any time. All plans allow you to share your data with unlimited users, and free accountant access. All transactions can be downloaded to your computer for further analysis or import into an accounting package. The site also offers to e-mail you when transactions occur that fall outside your normal range of activity, which can help provide an early warning for fraud.
 
Read more articles by David Ringstrom. 
 
About the author:

David H. Ringstrom, CPA heads up Accounting Advisors, Inc., an Atlanta-based software and database consulting firm providing training and consulting services nationwide. Contact David at david@acctadv.com or follow him on Twitter. David speaks at conferences about Microsoft Excel, and presents webcasts for several CPE providers, including AccountingWEB partner CPE Link.

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