Paychex Launches New Cloud Accounting Application

November 19, 2013
Paychex Accounting Online Expands Paychex’s Industry-leading Suite of Online Services for Small Businesses

Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small and medium-sized businesses (SMBs), today introduced a new product line with the launch of Paychex Accounting Online – simple, secure cloud accounting for small businesses.

Paychex Accounting Online is a software-as-a-service (SaaS) accounting solution that is intuitive and accessible directly through the cloud. Paychex Accounting Online subscribers can access the online accounting product through all major Internet browsers or through a free companion iPad® app (https://itunes.apple.com/us/app/paychex-accounting-online/id739503800?mt=8&ign-mpt=uo%3D2).

“Paychex’s entry into the cloud accounting market reflects our commitment to providing small businesses with products they need to succeed, and it complements our industry-leading payroll and HR solutions by expanding our suite of services designed specifically for new businesses and entrepreneurs,” said Martin Mucci, Paychex president and chief executive officer.

Mucci added, “Our research shows that for most new businesses, determining how to manage their finances is one of the first decisions they make – even before hiring their first employee. We also found they want simpler tools and, ultimately, integration between accounting and payroll. Paychex saw an opportunity to help these businesses through the early stages of their business lifecycle, by leveraging our strengths and delivering an easy-to-use cloud accounting solution.”

Paychex Accounting Online automates invoicing and billing, tracks expenses and income, and provides small business owners with real-time visibility of their cash flow and financial position. Specialized accounting knowledge or experience isn’t required.

The cloud accounting solution also benefits accountants and business advisors, as it allows real-time collaboration with their clients. Additionally, Paychex Accounting Online gives business owners an easy way to manage financial records, which eases accountants’ year-end burden and lets them focus on the advisory aspects of their practice.

Paychex has partnered with Kashoo, a leading cloud accounting provider, to create and deliver Paychex Accounting Online. Paychex last month announced a strategic partnership and equity investment in Kashoo.

“By leveraging Kashoo’s years of experience and industry expertise, we are able to offer new businesses a simple, easily accessible cloud accounting application they need now, and then support those businesses as they start to grow and hire with our full suite of payroll and HR solutions,” said Andy Childs, Paychex vice president of marketing.

To learn more about Paychex Accounting Online, go to paychex.com/accounting-online.

Laura Saxby Lynch
Director, Corporate Communications
585-383-3074

Laura Saxby Lynch

As director of corporate communications for Paychex, Laura Saxby Lynch leads a six-member team responsible for external communications, including media and public relations programs, as well as employee communications. Among her other responsibilities, Laura is a lead communicator in companywide initiatives, crisis and issues management, and community relations. She joined Paychex in January 2001 as the company’s first public relations manager after serving as the communications executive for a large non-profit and, prior to that, working as a television journalist. Laura is a graduate of St. Bonaventure University.