Dec 17, 2009

Outright Tracking More Than $1 Billion, Launches W-9 Management Service


We're big fans of Outright, a free and drop-dead simple online bookkeeping service. Today, the startup has revealed that it is tracking over $1 billion self employed and micro-business transactions, which Outright says is a sign that the freelance, contract labor, and self-employment marketplace is strong.

Outright.com's platform manages all business finances, tracks income and expenses, and automates tax preparation. The site is now launching a new automated W-9 management service today. A W-9 tax form is required for anyone outside of employees to whom you pay money (i.e. contractors, freelancers), to ensure you properly file a 1099.

We’re big fans of Outright, a free and drop-dead simple online bookkeeping service. Today, the startup has revealed that it is tracking over $1 billion self employed and micro-business transactions, which Outright says is a sign that the freelance, contract labor, and self-employment marketplace is strong.


Outright.com’s platform manages all business finances, tracks income and expenses, and automates tax preparation. The site is now launching a new automated W-9 management service today. A W-9 tax form is required for anyone outside of employees to whom you pay money (i.e. contractors, freelancers), to ensure you properly file a 1099.


Outright strips the W-9 form from confusing IRS jargon and simplifies the language so both business owners and contract workers can easily understand how to fill the forms out. Contract workers fill out the W-9 online, business owner tracks W-9 status online and Outright assures that all information is transferred safely and securely. Outright will then track the status of W-9s for business owners to make sure all IRS deadlines are met, and penalties are avoided.


Launched earlier this year, the startup recently raised $5 million in funding and previously raised $2 million in seed funding. It’s not surprising that Outright has been able to gain traction as a popular bookkeeping application; it’s easy to use and it has integrations that are useful for the self-employed, such as a plug-in with FreshBooks, Expensify and Shoeboxed.


Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.










1 comment:

  1. Great job for publishing such a nice article. Your article isn’t only useful but it is additionally really informative. Thank you because you have been willing to share information with us. Virtual Bookkeeping in Gold Coast

    ReplyDelete