Online accounting solution Outright.com will provide its services to PayPal customers through the new Outright accounting application available in the PayPal Apps beta.
Outright's application on PayPal Apps will leverage multiple PayPal X APIs and automatically pull up to two years of PayPal transactions and categorize those transactions, helping business owners better control their cash and manage their business. SMB's on PayPal.com will be able to see their cash flow, who their biggest customers are and where they're spending money. Outright also provides valuable tax service including sales tax tracking, estimated tax calculations and a pre-populated Schedule C, the IRS income tax form for sole proprietors.
"When we learned from a recent PayPal study that 23 percent of small businesses using PayPal are managing their financials with spreadsheets, more than any other accounting program, we knew Outright was the perfect fit for PayPal businesses," said Kevin Reeth, Outright co-founder and CEO. "Using PayPal X, Outright is able to automate accounting for small businesses on PayPal, eliminating the need for spreadsheets."