Pocketbook releases new tax summary feature, saves taxpayers 1000s of hours screwing around

Pocketbook really appears to be making massive progress, maybe the 10 or so VCs in Australia with a fund should get on board now.

Hot on the heels of their mobile app they have released a tax primer which takes data you already imported and allows you to categorise and calculates a summary of the various tax deductions you have.

You add your bank accounts, answer 10 questions and then it sucks all the data out of the banks accounts and presents a confirmation screen to add expenses it identified to the tax return you can then take the summary to your accountants.

If you add this to the capability in their mobile App to snap receipts you can pretty well do just about everything a basic tax payer needs to do to get all their data together for the tax agent

If you have any experience of small business you will know there are 100s of thousands of small business owners who don’t have even basic accounting systems. My guess is that due to its ease of use Pocketbook will get real traction on a providing a workable solution for the 100,000s of small business owners who use a shoebox and spend days at tax time trying to get this all in order.

My opinion is the simple approach Alvin and Bosco are using is going to help them blow right past their competitors in both personal accounting and probably micro business accounting as well.