TD Bank in partnership with Autobooks launches TD Online Accounting

By Pavithra R

TD Bank, a U.S. national bank and subsidiary of the Canadian multinational Toronto-Dominion Bank, has announced the launch of TD Online Accounting to provide a convenient, integrated payment and accounting experience for its small and closely-held business customers to conduct banking and bookkeeping activities through TD’s Small Business Online Banking platform.

TD Online Accounting leverages Autobooks‘ technology, a small business payment, accounting and receivables platform built on Microsoft Azure that allows business owners to get paid faster by settling credit cards and electronic payments directly in their TD’s business checking account.

“Many business owners are constantly juggling numerous activities to keep their businesses running smoothly. TD Online Accounting takes away much of the administrative tasks of one of these critical activities – reconciling books and accounts – and empowers business owners to keep track of inflows and outflows more efficiently. Most importantly, this new tool allows business owners to have more time to serve their customers. TD Bank is committed to helping small and closely held businesses maintain and grow their businesses through effective, innovative solutions and a convenient banking model. The addition of TD Online Accounting demonstrates this commitment, especially during these extremely challenging times, where every transaction and payment is critical,” said Chris Giamo, Head of Commercial Bank, TD Bank. 

The new TD Online Accounting helps businesses increase and accelerate their cash flow by providing a self-service, digital onboarding experience to help business owners get paid electronically. It allows TD’s eligible business customers to:

• Securely and seamlessly send electronic invoices
• Accept payments from any location via a payment link (text, email, social media, etc.)
• Automatically track which invoices have been opened, paid or are outstanding
• Access balances sheets, general ledgers, and other reporting
• Keep track of payments
• Automatically handle bookkeeping tasks
• Access dashboards with real-time data and gain insights on their business’ health

“TD Online Accounting marks the beginning of a new era in banking convenience. Similar to how bill pay and remote deposit capture made business banking more convenient, accepting online payments and automating accounting are enhancements needed for today’s small business and we couldn’t be more pleased to work with TD Bank to help support its business clients,” said Steve Robert, CEO, and co-founder of Autobooks.

America’s conventional TD Bank serves over 9.5 million customers with a range of retail, small business, and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. The bank, along with its subsidiaries offer customized private banking and wealth management services through TD Wealth and vehicle financing and commercial dealer services through TD Auto Finance.