Going solo with banking data

Basiq announce they have partnered with Rounded, simple accounting software that makes work better for the self-employed. With Basiq, Rounded customers are able to connect their bank accounts to save time logging expenses and get a snapshot of their overall financial position.

Building a business as a one-person team means being solely responsible for every aspect of the business, especially its financial management. However, most accounting solutions aren’t optimised for sole traders and freelancers.

Rounded founder Grant McCall spent a decade as a freelance designer and developer and understands the difficulties of going solo. Tired of battling ineffective accounting solutions designed for large businesses, he decided to start Rounded, with a focus on simplifying financial management for the self-employed.

Unlike many other accounting solutions, Rounded users don’t need an accounting background or hours of tutorials to get started. The app provides all the tools to run a freelance business and be ready for tax time, without any added complexity. Users can send invoices, track income and expenses as well as receive online payments to automate much of their accounting.

Rounded integrates a time tracker with invoicing to ensure that users are paid for every second spent on a project. Invoices can also be created in less than a minute with automated overdue reminders so users can spend less time chasing up payments.

Rounded uses Basiq for income and expense tracking. Business expenses are often the most difficult to keep organised. The manual data entry involved in updating spreadsheets and keeping track of receipts is tedious, error prone and takes valuable time away from clients. With Basiq, Rounded users can connect their bank accounts into their Rounded account. This ensures that any money going in and out of their account is accurately reflected in their accounting software.

According to Rounded founder, Grant, reliable access to quality banking data is vital to ensure Rounded customers can make expense tracking and tax time effortless: “Our seamless integration with Basiq and the consistent access to quality data is a win for both our customers and the Rounded team. The development and customer experience has been excellent and we now have a solid data platform to build upon.”

Access to banking data will also allow Rounded to add features such as automatic reconciliation in the near future which will save Rounder users even more time and effort.

By partnering with companies like Rounded, Basiq is able to make a difference for businesses and consumers. If you have a fintech solution that needs access to banking data, get in touch with them at [email protected].

If you’re a sole trader or freelancer you can get access to a free trial of Rounded on their website.

Source: Going solo with banking data