Today, we’re excited to announce the launch of Collective Accounting, the first AI-powered, integrated accounting suite, designed for Businesses-of-One. With Collective Accounting, members can unlock financial reports and insights, send invoices, collect payments via ACH and credit card, and get a birds-eye view of their business finances.
These tools, coupled with our team of experts powered by advanced AI capabilities – enable us to deliver the same work you would get from a high-end accounting firm at a fraction of the cost. Collective Accounting integrates with all of your other essential applications – payroll, tax, formation, and more – saving you time and money through expert support.
Features designed for the busy solopreneur
- Expense tracking: Our AI technology enables our bookkeeping team to more intelligently categorize your expenses, faster. See where your money is going without the frustration of keeping up your books yourself.
- Financial insights: See your financial health at a glance in our Dashboard. With instant access to insights, you’ll be empowered to make informed decisions about your business.
- Simplified tax preparation: Collective Accounting comprehensively organizes your financial information for you and your tax advisor and seamless integrates with Collective’s tax prep process. Come tax season, you’ll be ready.
- Free invoicing*: Send unlimited invoices at no cost with our simple tools. You can also collect payments via ACH and credit card, streamlining your billing process under one platform.
- Seamless integration: Integrate your bookkeeping with our existing suite of tools for a 360 financial experience. All you need is one login to manage your entire financial workflow.
*available in beta
One step closer to putting your business on autopilot
Collective was the first venture-backed company to introduce an all-in-one managed, online back-office for the self-employed. We were the first place for solopreneurs to get their accounting and tax work done for a flat, transparent price, online. That said, our vision was greater than providing a one-stop shop to use third-party tools like Quickbooks and Gusto.
Collective is creating a modern, super-app for today’s solopreneur – empowering them to run their business and manage their finances, without multiple logins or tools.
For our members, this means a single platform to run their back office – something that, until now, was reserved for large enterprises. For our team, this means providing a unified financial picture of members, so we can serve them better. Together, we can transform the way solopreneurs work, and the technology that supports them. As we continue to develop capabilities on both sides of our platform, we race toward enabling a world where our members can truly enjoy a hands-off experience managing their finances.
This is a long journey. And while we have a ways to go, Collective is committed to building a platform that empowers the financial success of Businesses-of-One. Today’s launch of Collective Accounting is an important step on our path to get there.
The future is freelance
AI is empowering more and more entrepreneurs to launch and scale independent businesses. From marketing to development, new tools are making it easier for a business owner to do more with less. Over a decade ago, Instagram created a billion-dollar business with just 13 employees. The first AI-powered billion-dollar Business-of-One is around the corner. And we’re excited to help spark this revolution in entrepreneurship.
As industries transform to serve the booming solopreneur market, the tax and accounting industry has remained stagnant. Companies like Intuit continue to offer focused software platforms in bookkeeping, tax, etc that focus on accountants and mid-size businesses. Traditional accounting firms offer solutions where they leverage that software to deliver custom solutions but are cost-prohibitive – often costing $10K+ annually – and don’t give their clients full control and visibility over their finances.
Our vision is to create a world for solopreneurs where financial management is not just a requirement to do business, but an essential engine that drives growth. Where your finances, and the data they generate, not only save you money but help you earn money too. We believe we can do this by providing a single, powerful platform that gives you the same powerful tools afforded to big businesses at a fraction of the cost.
Join us
We’re at the threshold of a new era in financial management for solopreneurs. As always, I’d like to thank our existing community of thousands of business owners for patiently helping us co-create our shared vision. For all of you other solopreneurs, we invite you to join us on this journey. Explore the capabilities of our AI-powered bookkeeping solution and to share your insights. Together, we’re not just navigating the future of financial management – we’re defining it.
Hooman Radfar is a serial entrepreneur, investor, and the co-founder and CEO of Collective. Hooman co-founded Collective to create a better world by supporting the largest and fastest-growing class of entrepreneurs in the world – Businesses-of-One.