ZipBooks, an accounting app startup that earned $2 million in seed funding last year, has released a new version of its software to its web and iOS apps.

ZipBooks is a straightforward accounting and bookkeeping tool, but with this update the company has added several features in response to customer feedback. The new version allows small business owners and their accountants to track the total value of the company at any given time. The app also offers customizable accounts charts and automated balance sheet reports.

Also new is the ability to confirm transactions and perform bank reconciliations. For example, ZipBooks now tracks vendor obligations, creates a new journal entry automatically when users send an invoice, and runs AR aging reporting.

The Starter ZipBooks package is free, but there are three highers tiers that cost a monthly fee and include extra services such as bank reconciliations and analytics. The Smarter package is $15 a month, Sophisticated is $35 a month, and the Services tier starts at $125 a month.

ZipBooks chief operating officer Jaren Nichols told Accounting Today that the company plans to keep a free version for small businesses to use. “We make software that helps all owners of small businesses, from freelancers to small enterprises. As part of that goal, we continue to provide free accounting and invoicing software,” he said. “Healthy invoicing, accounting, and business intelligence help businesses to grow faster. As these companies grow, premium features like recurring billing, employee time tracking, or advanced reporting emerge as more tools for business growth. Fundamentally, our software should make all business owners more efficient and even smarter.”

“Going up market has always been part of the game plan,” he added in a statement. “We’ve only scratched the surface of predictive analytics in terms of the value that we think we can put into the hands of a business owner.”

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