Knoxville start-up Uncat helps businesses categorize expenses
This software program has helped categorize more than 175,000 transactions with a total value of more than $450 million dollars.
Knoxville start-up Uncat reports that it has helped accountants and bookkeepers and their small business clients update more than 175,000 transactions with a total value of more than $450 million. Clients have also uploaded more than 25,000 attachments, primarily receipts, via Uncat.
Co-founded in November 2020 by local entrepreneur Brandon Bruce, who also serves as Chief Executive Officer, the company is focused on solving a common problem that bookkeepers and accountants face – uncategorized expenses. The software automatically notifies clients about uncategorized transactions and collects responses and receipts, enabling accounting professionals to categorize the transactions and sync them back into Intuit QuickBooks, the world’s leading small business technology platform that helps small businesses grow and run their businesses all in one place.
According to this news release, Uncat collected aggregate data on uncategorized transactions across its platform for 2022 and found that the most popular vendors for uncategorized expenses were Amazon, Walmart, Target, Costco, Staples, Home Depot, and Lowes, while the most popular sources of uncategorized deposits were cash, Venmo, PayPal, Cash App, Stripe, and Square.
“Accounting professionals have important work to do for their clients, but so many accountants and bookkeepers described the process of getting information about transactions back from clients as playing ‘cat-and-mouse’ or ‘herding cats.’ We built Uncat to bring clarity and efficiency to the time-consuming task of categorizing uncategorized expenses and deposits with small business clients,” said Bruce.