Sunrise Platform FAQ

Sunrise Platform FAQ

We'll walk through some of our customer's most frequently asked questions (FAQ).

What is Sunrise?

Sunrise is cloud-based bookkeeping software, meaning you don't have to download, install, or configure anything. Our free self-service software was made for small business owners who are looking for digital tools to simplify their bookkeeping process. With Sunrise, you can create personalized invoices and allow your customers to pay by credit card. You can set them up on a recurring schedule to ensure you don’t miss a payment.

Is my data secure?

Sunrise uses state of the art 256-bit SSL encryption and has everything backed up to data centers in the United States. This is the highest level of security in the industry. 

Does Sunrise have customer support?

Providing excellent customer support is a cornerstone of our service offering. We offer live in-app chat to all of our users and support through email. Our current hours are between 8 AM and 6 PM MST. 

We're happy to help with the account setup, general questions, or anything else. Support is available both for you and your clients. If you have additional questions contact

Is Sunrise provide double-entry accounting?

Sunrise has a fully-featured general ledger that enables an accurate double-entry accounting engine. Credits always equal debits for every transaction, so you don't need to worry about lost or missing transactions.

Sunrise features everything you'd expect from a double-entry accounting solution, including a journal, chart of accounts, general ledger, and customizable opening balances.

Is Sunrise cash or accrual?

Sunrise is an accrual-based accounting system, which means that revenues and costs are displayed on the income statement when they are earned or incurred, respectively.

For example, if an invoice has a date of December 21st, 2016, but was paid in January 2017, the revenue associated with the invoice would show up on the 2016 income statement, not the 2017 income statement.

Accrual accounting is most useful for assessing the real-time performance of the business. It helps demonstrate what has been earned and more closely links costs and their associated benefits to the business. With that said, it does require a diligent assessment of cash flow regularly.

Can I use Sunrise for cash accounting?

You certainly can. By ensuring that the document dates are the same as payment dates, all of your documents will reflect the payments you've received when you received them.

This method, however, doesn't work very well for managing outstanding payments and accounts receivable. You tend to lose a lot of granularity when you modify the date of your documents. It can make it difficult to assess how long it takes your customers to pay you, as just one example.

If you want your financial statements to be truly cash-basis, make sure the dates on your invoices exactly match the dates on the payments you've recorded for them. This also applies to bills.

Can Sunrise help me do tax returns?

One of the main benefits of using accounting software is being prepared for tax season. Using Sunrise to fill out your tax return can be a breeze with a little upfront planning.

The best way to make sure that Sunrise is appropriately configured to serve you well at tax time is to have a discussion with your CPA about your filing status. Once you know what kind of filer you'll be, you can modify your chart of accounts and put a system in place to start capturing all relevant revenues and deductible expenses.

The default chart of accounts that every new organization comes setup with Sunrise is optimized for Schedule C filers in the United States. We've already included many of the common expense line items featured in the latest IRS documentation. Please note that this is by no means an extensive list of categories, and you may want to add or remove some depending on your filing status.

Can Sunrise complete bank reconciliations?

Sunrise has what is known as a proactive reconciliation process, which is very unlike many other tools on the market that feature a reactive reconciliation process. It's worth spending some time getting familiar with this process, as it's something that you'll undoubtedly need to verify your accounting records.

A proactive reconciliation process works best when users are continuously entering data into the system on a day-to-day basis. New invoices, paper receipts, and bank transfers should all be recorded in Sunrise as soon as they can be. Then our auto categorization tool can help from there. 

Once these source documents have been added to Sunrise, the user will have a chance to categorize these expenses, revenues, or other transactions. Once the transactions have been categorized along with the original source document, they can be reconciled with the transactions that come through the bank feed periodically. As opposed to waiting for a bank statement to post, we recommend that users reconcile their bank accounts weekly.

One of the benefits associated with the proactive reconciliation process is that it encourages a higher level of organization among users and disincentivizes lazy bookkeeping. When users attempt to reconcile their bank accounts at the end of a given month with nothing but a pile of receipts, invoices, and a monthly statement, the process immediately becomes grueling. A proactive reconciliation process helps avoid much of the scattered disorganization that happens with traditional reactive reconciliation processes.

Can Sunrise handle different fiscal years?

Absolutely. You can modify the fiscal year settings under 'Settings'->'Tax settings.'

Although there is no journal entry for this, the settings can be modified by either adjusting your fiscal year or modifying the system role of your equity accounts through an advanced chart of accounts modification.

How does pricing work?

In Sunrise, pricing is at an organizational level, not a user level.

A user has a specific set of login credentials and can have access to multiple organizations. An organization can have multiple users that can access its information.

By creating a Sunrise user account, you can access as many organizations as you'd like, making it very easy to work with multiple clients in Sunrise without handling several different files or sets of login credentials.If you're interested in learning more about this workflow, check out the video we've put together on this specific topic.

How do I get started?

The best way to get started is to create a free trial and start entering some sample data. Once you have a sense of how Sunrise works, you can begin creating new organizations for your business and going through the setup process for them.

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