Financial Platform Sunrise Adds New Tools for SMBs

Bookkeeping and financial services platform Sunrise by Lendio has added several new functions to its free offerings: Tax Assist; Bank Reconciliation; Personalized Onboarding; and software-based invoicing tool Sunrise Plus, according to a company announcement Thursday (Feb. 3).

Tax Assist, which is free for Sunrise users, includes a depreciation calculator and a tax checklist.

Sunrise serves small- to medium-sized businesses (SMBs).

“With Tax Assist, businesses can use our expert tax checklist to take the guesswork out of filing taxes. Small businesses usually have quite a few 1099 employees, and we want to make sure that those documents are in one place,” said Caton Hanson, Sunrise’s general manager, in the company announcement.

“Additionally, we help business owners know their tax burden in advance, so they are able to plan and budget accordingly,” he said.

Users can match the balance of a Sunrise bank account with that of a business’ actual bank account using the Bank Reconciliation tool.

“We understand that this can take time for small businesses, so our tool will start to learn and suggest which transactions match up,” Hanson said. “This decreases time and gives the business owner financial insights quicker.”

Sunrise’s Enhanced Personalized Onboarding tutorial helps businesses navigate the platform and educate the business owner on which tools will help their company most.

The SaaS Sunrise Plus product comes with several customer payment options including Stripe, Square and PayPal. Users can save up to 33% on processing fees when they use Sunrise Pay. It also features automatic recurring invoices and opt-in automatic bill pay.

The customization tool includes the option to use a business’ logo, offer discounts, auto-calculate sales tax and other branding options.

Related: Camino Financial, Lendio Collaborate To Provide SMB Capital

In April, financial technology firm Camino Financial partnered with lending marketplace Lendio to provide funding for SMBs in underserved communities.

Camino Financial CEO Sean Salas said the goal of teaming with Lendio is meeting the capital needs of more Latino and Black owners.