WorkingPoint

WorkingPoint
Company type	Private
Industry	Software, Small business management
Predecessor	Netbooks Inc
Founded	2007; 19 years ago
Founder	Ridgely Evers
Headquarters	San Francisco, United States
Key people	Tate Holt (CEO), Tom Proulx (Chairman)
Number of employees	10
Website	www.workingpoint.com

WorkingPoint is a web-based application that delivers a comprehensive set of tools designed for small business management. Its features include double-entry bookkeeping, contact management, inventory control, invoicing, and expense monitoring, all integrated into a single, intuitive platform to simplify the oversight of various business functions.

Company

Established in 2007 under the name Netbooks Inc by entrepreneur Ridgely Evers, WorkingPoint remains a privately owned firm based in San Francisco, California. Evers, known for co-developing Intuit’s Quickbooks, created this solution to offer small businesses a more approachable option. To avoid confusion with the netbook computer market, the company adopted the WorkingPoint name in 2009.

With a team of roughly ten employees, WorkingPoint is guided by CEO Tate Holt and Chairman Tom Proulx, who co-founded Intuit and was the original developer behind Quicken software. The company receives investment support from San Francisco’s CMEA Capital. Its strategy centers on delivering all-encompassing products and services tailored for small enterprises, emphasizing operational efficiency and customer-focused offerings to drive market expansion.

Social Media Presence

WorkingPoint actively engages small business owners and managers through a daily blog, which is updated weekly with three posts highlighting product features or instructional content, two profiles of subscriber companies, and two posts offering small business advice. Additionally, the company maintains vibrant Twitter and Facebook accounts.

Product Description (Free Version)

The free tier of WorkingPoint supports up to two users and allows invoicing for as many as five customers.

Online Invoicing

The platform enables users to generate personalized quotes and invoices suitable for electronic delivery or printing. It tracks customer payments, inventory costs, shipping fees, accounts receivable, and applicable sales taxes. Features also include handling overpayments, applying loyalty discounts, and maintaining invoice histories to enhance billing efficiency.

Bill & Expense Management

Users can monitor bills and expenses with detailed categorized reports covering paid accounts, accounts payable, and vendor purchasing records. Inventory quantities update automatically alongside billing entries.

Double-Entry Bookkeeping

WorkingPoint simplifies double-entry bookkeeping by automatically posting debits and credits derived from invoices and expenses. Users have access to transaction views in general ledger format and can execute closing entries without requiring advanced accounting knowledge.

Business Contact Management

The software organizes customer and vendor contact information while tracking related sales and purchase activities. Contacts can be imported or exported through popular email platforms such as Microsoft Outlook, Yahoo! Mail, Gmail, and Mac Address Book.

Inventory Management

Inventory quantities adjust automatically following sales or purchases. Users can oversee current stock levels, average costs, cost of goods sold (COGS), and best-selling items, with options available for manual inventory corrections.

Financial Reporting

WorkingPoint produces financial statements including balance sheets, income statements, and cash flow statements utilizing accrual accounting methods. Reports are customizable by date range and can be exported in pdf format or to OpenOffice and Microsoft Excel while preserving formulas.

Cash Management

The application keeps track of bank account cash balances by monitoring cash inflows and outflows through management of accounts payable and receivable.

Business Dashboard

A customizable Business Dashboard presents essential real-time metrics visually to facilitate informed decision-making.

Online Company Profile

Users have the option to create an online company profile to establish their Internet presence and engage with WorkingPoint’s small business community. Public profiles appear in the Company Directory accessible via a unique URL (https://businessname.workingpoint.com).

Product Description (Premium Edition)

Offered at a monthly fee of $10, the premium edition of WorkingPoint encompasses all functionalities available in the free version, along with unlimited invoicing capabilities and unrestricted account access. This upgraded plan introduces essential business tools such as 1099 Tax Reporting, invoice payment processing via PayPal, Email Marketing through VerticalResponse, and an advanced Premium Reports & Accounting Suite.

1099 Tax Reporting

This tool assists users in pinpointing businesses and individuals subject to IRS Form 1099 or Form 1096 submissions. WorkingPoint automatically monitors payment transactions and produces 1099 reports to ensure regulatory adherence.

Premium Reports & Accounting Suite

Features include a Daily Operating Report offering detailed sales and cash flow data, flexible account categorization options, and cash flow statements prepared using the indirect approach, all designed to improve financial analysis capabilities.

Invoice Payment Processing via PayPal

Facilitates smooth collection of invoice payments through PayPal, optimizing cash flow management processes.

Email Marketing through VerticalResponse

The premium offering includes 500 email credits with the email marketing service provider VerticalResponse to enhance customer outreach efforts.

References

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