Patriot Accounting
By Patriot Software
Patriot Software LLC is a provider of cloud-based accounting and payroll software tailored for small businesses in the United States. The company aims to simplify and streamline financial management tasks, offering affordable and user-friendly solutions. Patriot Software is headquartered in Canton, Ohio.
Patriot Software was founded by Mike Kappel in 2002. The company started in the basement of a factory and faced numerous challenges, including financial difficulties and a lack of resources. Despite these hurdles, Patriot Software grew and eventually spawned four additional successful startups. The company has experienced significant growth, boasting 100 consecutive months of customer base expansion as of 2019.
Patriot Accounting has primarily been self-funded, with significant capital raised through private placements and Regulation D stock offerings. The company secured an undisclosed amount in a Series A funding round led by RZC Investments in 2021. As of 2018, the enterprise valuation was estimated to be between $18 million and $26 million.
Patriot Accounting offers a suite of products designed to meet the accounting and payroll needs of small businesses:
Accounting Software: Features include unlimited invoicing, vendor payments, 1099/1096 form management, transaction categorization through Smart Suggestion, bank transaction imports, account reconciliation, and customizable financial reports.
Payroll Software: Available in Basic and Full Service plans, it includes unlimited payroll runs, multiple pay rates, customizable hours and deductions, PTO accruals, and comprehensive tax filing and payment services for Full Service subscribers.
Patriot Software has focused on internal growth and product enhancement rather than acquisitions. The company continues to expand its product offerings by adding new features and improving existing ones, such as the recent release of the Accounting Premium product and seamless direct deposit for payroll.
Recent updates to Patriot Accounting include enhanced payroll tax filing capabilities, improved user interfaces, and additional customization options for reports and user permissions. The company also introduced a Small Business Payroll Index to provide insights into employment trends among its users.
Patriot Accounting emphasizes a strong company culture centered around customer satisfaction, innovation, and integrity. The company's internal mantra, "leave no customer behind," reflects its commitment to providing exceptional customer support. Patriot Software values transparency, security, and continuous improvement, as evidenced by its dedication to regular software updates and rigorous security measures.
Patriot Accounting serves tens of thousands of small businesses across various industries in the United States. The company's user base includes businesses with up to 500 employees, and it has processed over $13 billion in payroll and payroll tax dollars since 2018. Patriot Software has received high ratings for its customer support and overall value, with many users praising the platform's ease of use and affordability.
