Thomson Reuters Launches Cloud-Based Accounting Application for Small Businesses: OnBalance Express

Thomson Reuters has launched OnBalance Express, a cloud-based accounting application that helps small business owners run their businesses from anywhere with ease. The web and mobile app combines the accessibility and security of cloud accounting while simplifying customer tracking, vendor tracking, invoicing, online payments, expense tracking, banking and reporting, with its innovative dashboard design.

Customer Driven, Data Focused

Thomson Reuters OnBalance Express has been built from the ground up for entrepreneurs and small businesses through direct consultation and collaboration with small business owners. With information and data gathered from more than 1,500 small businesses and accountants from across the country, OnBalance Express has been designed to make it easy for businesses to maintain their day-to-day accounting activities while providing accountants with real-time access to critical data for proactive client engagement and guidance.

Using optical character recognition (OCR) technology, the OnBalance Express mobile app makes logging expenses as easy as taking a picture. The mobile OCR feature locates critical pieces of information from receipts and logs the expenses automatically. With support for more than 1,000 financial institutions, the live bank feeds functionality brings in transactions pre-categorized to reduce tedious data entry tasks. And tracking mileage is simplified with the ‘always on’ mileage tracker feature available in OnBalance Express. OnBalance allows for trips to be automatically logged once the feature is enabled.

“OnBalance Express streamlines income and expense management for accounting firms’ small business clients,” said Jon Baron, managing director of the Professional segment with the Tax & Accounting business of Thomson Reuters. “Because OnBalance Express is integrated with Accounting CS, firms can work seamlessly with clients on their monthly bookkeeping—improving accuracy, increasing workflow efficiency, and providing data insight for proactive and consultative guidance to small business owners.”

OnBalance Express is the latest application designed to help small businesses and entrepreneurs stay organized, following up on the release of OnBalance Self-Employed, which was released in November 2017. OnBalance Self-Employed allows individuals to track income and expenses and can also track mileage automatically with the mobile app. To improve workflow and to simplify the tax preparation process, OnBalance Self-Employed fully integrates with UltraTax CS.

For more information on OnBalance Express, visit tax.thomsonreuters.com/cs-professional-suite/onbalance/express