Automated small business accounting aims to reverse high biz failure rate

This innovative company aims to reverse the painfully high small business failure rate with AI-smart, automated small business accounting software. Here’s how:

In the US alone, nearly half (46%) of small businesses fail in large part due to poor accounting practices. And until now, small business entrepreneurs haven’t had a mobile-ready small business accounting application that automates tedious bookkeeping tasks. US-based Ceterus has created an automated accounting and benchmarked reporting application for small business and franchise owners — and it’s already making waves.

Small business accounting automated, at last

Ceterus’ automated accounting software and mobile app uses both artificial intelligence (AI) and machine learning to bring data from different sources like payroll, point of sale and bank accounts into QuickBooks Online.

By automating manual data entry tasks, Ceterus lets small business owners and accountants focus more on their client needs. And business owners and accountants using the Ceterus mobile app can also access completed financials, real-time insights and benchmarked reporting from their mobile devices.

Such real-time insights make accounting information much more useful in the moment and forward-looking — and that in turn helps business owners and managers make more strategic business decisions.

Custom automated accounting software & services

While it continues to build on its automated accounting software, Ceterus also customizing its small business accounting services for a range of clients like retailers, restaurants, health clubs, and CPA firms.

Most recently in February 2019, Ceterus announced a partnership with North Carolina-based CPA and advisory firm LBA Haynes Strand to provide its software and client accounting services, customized particularly for the firm’s growing client base in the dental industry.

Ceterus says it developed its CPA automation technology based on years of experience serving as a CPA vendor, as well as data collected during an Intuit and Bill.com-sponsored mastermind with small to mid-sized accounting firms.

Major media attention

Not surprisingly, Ceterus is also getting some major media attention. The company’s founder and CEO Levi Morehouse has been featured in publications like Accounting Today and the Forbes Finance Council, and he has spoken at the Intuit conference on the future of accounting technology.

You can find out more about Ceterus’ small business accounting app in our recent app spotlight story, and you can follow or connect with Ceterus below: