Accounting Tools Product Review- Datamolino - ToOLOwl
Tuesday , December 11 2018

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Accounting Tools Product Review- Datamolino

Accounting-Tools-Product-review-DatamolinoAccounting is a task best suited for professional accountant as they are aware of the margins that need to be taken care of. Small and medium business are always so tight in recruiting new people because of a lot of constraints, the prime one being the size and capital investment. In such case, hiring a dedicated accountant for managing your company’s bills and invoices becomes a challenge.

If there are constraints on hiring new employees, SMB owners can opt for handling accounting on their own but adopting a tool for it is going to make the task a lot easier. Datamolino is a startup tool which caters to same need in an innovative approach.

Since it is a startup it hasn’t spent much time on the market but is expected to make good impact with the features and services it provides. Datamolino targets accounting tasks and tries to make it automated by eliminating the tedious process like entering data manually and recording invoices, bills and receipts.

Editions and Pricing

Datamolino offers a 7 day free trial period with no restraints to give business owners time to learn how to manage their dealing with this tool. The editions and pricing for Datamolino are divided into two categories namely Basic and Advanced. The tool provides unlimited number of folders and users for every plan along with high quality support. If the invoice limit exceeds for a certain plan, an additional fee of €0.33.

  • Basic: The basic plans varies from €17 for 50 invoices/mo to €140 for 500 invoices/mo. The basic plan allows user to link account with XERO and SageOne.
  • Advanced: The advanced plan varies from €25 for 50 invoices/mo to €200 for 500 invoices/mo. This plan allows basic and capture invoice items with the capacity to link with XERO and SageOne.

Capabilities and Supporting Set of Features

accounting_datamolino_signupEasy Sign Up
Datamolino requires users to first sign up to the platform with their credentials. No social media account necessary to join up Datamolino. The systems send an automated account confirmation email which you have to click to confirm your credentials.

 

 

accounting_datamolino_createfolderFolders
The system asks you to create folders to initiate the accounting process. These keep your data segregated and allows efficient handling of invoices. The system also asks for your country and currency to balance transactions accordingly.

 

 

accounting_datamolino_connectsoftwareAs Datamolino allows exporting your data to accounting software, the systems asks you to link a software to your Datamolino account either SageOne or Xero.

 

 

 

accounting_datamolino_importImport Purchases
Datamolino asks users to import the required files so that the tool can progress on screen and pickup up entries to be exported to integrated accounting tool.

 

 

accounting_datamolino_dashoardDashboard
Datamolino has a clear dashboard with features mentioned on the top and central areas displaying the details of the processes and invoices uploaded. It also displays data ready to export and error in exporting to track the progress of your task.

The systems lets you categorize the invoices based on purchase and sales to help the user’s maintain a check on both activities independently.

 

accounting_datamolino_searchActive Search
The tool provides an active search bar to search for your invoices as the number of invoices can grow in large numbers once the business starts shooting up. The search can also be limited by setting specific dates, prices and invoice type.

Progress
A user can view the progress of uploaded invoice by clicking on the record. The systems displays the document status and the invoice summary it picks up from the imported document. The operators set up the fingerprint for this document, the first time process requires one day but all the subsequent documents of same type are evaluated much sooner. Tool also lets the users view document history and download the analyzed invoice. User can also add a comment with each invoice to make note of important details.

accounting_datamolino_exportLinked Account Operations
The tool allows the user to export the analyzed data to file, export the history of any invoice and disconnect the linked account.

 

 

 

accounting_datamolino_extractExtraction Option
Datamolino allows quick option to view the extracted summary generated from multiple invoices. This option lets you view the invoice total and List items.

 

 

accounting_datamolino_folderpulldownmenuFolder Pulldown Menu
This menu is located on the top bar of the dashboard and includes various options to facilitate functioning with Datamolino. Options to open purchase and sales category invoices, view export history, disconnect accounting tool, option to invite user and folder settings are accessible under this menu.

 

 

accounting_datamolino_usernamepulldownmenuUsername Menu
A pulldown menu with the user’s name is located on the top which hoists options like My folder where users can view the collection of all folders, Account Settings, History of Billing Cycles and the option to logout of the system.

 

 

accounting_datamolino_accountsettingsAccount Settings
The option of Account Settings lets the user view account information and edit them. A user can also opt for a new plan under the user plan sub heading and enter promo codes if any.

 

 

Pros and Cons of Datamolino

Pros

  • Active help available through chat option.
  • One of a kind product to eliminate tedious manual data entry task.
  • Options to view document history and export it.

Cons

  • Initial fingerprint creation for a document requires 24 hour time to set up.
  • Allow linking with only XERO and SageOne.

Differentiator

For a startup, Datamolino is providing a very efficient manner to eliminate the most tedious and time consuming task of data entering, not only making it easy and efficient but by also eliminating the need of hiring a dedicated person for this task. With the tool, user can process HTML receipts as well as export files in CSV or Excel format.

For more details, please visit: Datamolino website.

About ToOLOwl

I am ToOLOwl. I have few friends in my nest; whenever someone requests a tool’s review or I pick a one out of my interest, someone in the nest does research on the tool, someone takes a tool’s walkthrough and some of them share their experiences and expert advice. Based on all; I give it a  stereoscopic vision and present important insights for you to go through and ease your selection process for tools. Wish you Happy reading, Easy choosing.

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