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Smart Online Releases Enhanced Software-as-a-Service Accounting for Small Businesses Looking for an Alternative to QuickBooks.

New Features and Functionality Enable Small Businesses to Easily Create and Securely Maintain Financial and Business Data Online

RESEARCH TRIANGLE PARK, N.C. -- Smart Online Inc. (OTCBB: SOLN), a leading provider of Software-as-a-Service (SaaS) for the small business market, today announced the release of its newly enhanced Web-based Accounting application. Smart Online's full suite of software, including its comprehensive accounting application, is designed to enable small businesses to have a real-time view of financial activities. The Smart Online Accounting application now includes a number of new features such as an easy-to-use set up wizard to enable small businesses to create and securely maintain their accounting information while having their business data backed up regularly. The Accounting application is targeted at strategic partners who desire a private label solution and in some cases want to integrate into their online banking package. The Accounting application is part of a full suite including group Calendar, Contact Management, Salesforce Automation (SFA), Customer Relationship Management (CRM) and Human Resource Management that can be private labeled for corporations who desire to offer value-added products and services to their small business customers.

"My small business customers are requesting a cost effective alternative to QuickBooks that is bundled with other products such as Salesforce Automation (SFA), Customer Relationship Management (CRM), and a Calendar. I am offering them Smart Online's product suite since it addresses this need," said Michael Lindsay, CEO, C'Bay Technologies.

"Small businesses need the ability to manage their accounting and financial activities without the hassles of having to make an expensive purchase, then install, and finally have to manage traditional accounting applications," said Michael Nouri, president & CEO, Smart Online Inc. "Smart Online's new Software-as-a-Service Accounting application includes the features well-known brands offer without the headaches of traditional software. In addition, our customers also have the comfort of knowing their data is located in a secure environment that is backed up."

Smart Online's Software-as-a-Service Accounting application is designed to enable small businesses to securely create and maintain accounting books, process invoices, payments, deposits, and manage the user's bank accounts. New functionality includes the ability for small businesses to further increase efficiency by having rapid access to an audit trail to make it easier to comply with tax reporting requirements.

Smart Online's newly enhanced Accounting application is available now as part of its suite of small business applications, and includes the following new features and functionality:

* Enhanced Setup Wizard

* Bank Reconciliation

* Support for multiple locations

* Invoice and Bill History

* Customized payment options

* Open Credit Memos

* Updated and enhanced financial reporting

* Quick checks for non-vendors

* Improved check generation

* New options for recording payments

* Customize financial reports

* Improved voiding of payments, invoices, and bills

* Plus a handful of usability and general functionality improvements

Smart Online's Accounting application also offers the ability to generate the following memos and reports:

* Vendor and Customer Credit Memos

* Accounts Payable and Accounts Receivable Aging Reports

* Cash Flow Statements

* Trial Balances (detailed or summary)

* Balance Sheet

* Profit & Loss Statement

* Journal Entry Report and Recurring Journal Entries

* Check Detail Report

* Financial Ratios

* U.S. Federal Tax Forms

Availability

Smart Online's full software suite, including the enhanced Accounting application, are available online at http://www.smartonline.com starting at $49.95 per month for up to 5 users. A free, 30-day trial is available to first time users.

About Smart Online, Inc.

Smart Online Inc. (OTCBB: SOLN), a pioneer of Web-native applications, offers a private-label syndicated online business platform that enables Web delivery of applications and services used to start and manage small businesses. In 1999, Smart Online converted its business applications to a Software-as-a-Service (SaaS) Web delivery model. Today, the company markets its Web-based business applications to corporations via the private-labeling of its syndicated software services. These companies private-label and add to their Web sites Smart Online's applications to enable their business customers to run their businesses more efficiently and without the upfront capital typically required for traditional business software and IT resources. To learn more go to http://www.smartonline.com.

Smart Online, the Smart Online logo, and OneBiz are trademarks and/or registered trademarks of Smart Online Inc. in the United States. Other marks belong to their respective owners.

Forward-Looking Statements

Statements in this press release that are "forward-looking statements," are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of many factors, including, but not limited to, delays in development schedules, changes in market conditions, product announcements by other companies, our ability to raise capital to increase our sales and marketing budget and customer perception of the value of our enhanced products. For further information regarding risks and uncertainties associated with Smart Online's business, please refer to the Risk Factors Section of Smart Online's SEC filings, including, but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2005 and Quarterly Reports on Form 10-Q, copies of which may be obtained on the Web site of the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Smart Online on the date hereof. Smart Online undertakes no duty to update any forward-looking statement or to conform the statement to actual results or changes in Smart Online's expectations.
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Publication:Business Wire
Date:Jan 29, 2007
Words:875
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