New Maui-Based Small Business Accounting Software Cheqbook Launches

IBM_403_Accounting_Machine

It’s difficult being a start-up company anywhere, let alone Maui. It’s especially difficult when your start-up is in accounting, which is somewhat less sexy than online movie rentals or social media apps. But two years after starting its development, new small business accounting software Cheqbook is open for business.

According to a Mar. 29 press release, Cheqbook is similar to Intuit’s Quickbooks, but operates in the cloud, “meaning businesses can access their company data from any web browser.” The news release goes on to quote Cheqbook CEO Doug Levin (who is also a CPA with Levin & Hu in Wailuku) as saying that,

“Our system actually saves businesses time by automatically connecting to bank and credit accounts and downloading and categorizing transactions. Cheqbook remembers how transactions are categorized by businesses, and also uses crowd sourced data for categorizing algorithms, an advantage not seen in current accounting systems.”

(Disclosure: MauiTime Publisher Tommy Russo works as Cheqbook’s Chief Marketing Officer, though both companies are independent of each other).

Cheqbook costs small businesses $20 a month. But the news release stated that the company is currently offering some specials to new customers:

“To celebrate Cheqbook’s local launch we’re offering a free year of accounting service to all who sign up and connect a bank account by April 14th. The first 1000 customers to invite a friend who also completes a sign up and attaches a bank account will receive a lifetime free account.”

For more information, check out Cheqbook.com.

Photo of IBM 403 accounting machine: born1945/Wikimedia Commons

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