February 9, 2018, Portland, ME
DAVO Technologies, the developers of DAVO Sales Tax, the only automated sales tax cash management solution for small to mid-sized businesses is releasing two new applications, DAVO Sweep & Save and DAVO Savings Club to help businesses with all of their cash management needs.
The DAVO Sales Tax app automatically sets aside the exact amount of sales tax a merchant collects daily and then files and pays it to the state when due. DAVO’s two new apps, DAVO Sweep & Save and DAVO Savings Club use the same innovative proprietary fractional daily funding technology. Fractional daily funding uses sales data directly from a merchant’s Point of Sale (POS) platform or accounting software to set aside a fixed dollar amount or percentage of daily sales.
DAVO Sweep & Save sets aside a fixed dollar amount or percentage of a merchant’s daily sales and then returns the funds back to the merchant monthly. This automatic daily cash management of recurring expenses may be used for any monthly expenses such as rent, business loans, HSA accounts, and equipment leases to name just a few. DAVO Savings Club also sets aside a fixed dollar amount or a percentage of daily sales, but returns funds back to the merchant annually. DAVO Savings Club is intended for ongoing cookie jar or Christmas Club like savings.
According to DAVO co-founder and former small business owner, David Joseph, “SMBs are passionate about their businesses and are very good at generating revenue but very often they are far less skilled at cash management. DAVO was originally started to solve the challenges of sales tax for SMBs, but has evolved into a powerful cash management tool. For example, using DAVO Savings Club a merchant can put aside $20 a day and at the end of a year have over $7000 to use as they see fit. They won’t feel the $20/day but they will love having $7000.” DAVO’s apps are tools that make merchants’ lives easier and enable them grow and thrive, following their passion and building strong businesses.
All three DAVO Apps are available on Square, Clover, Poynt, Revel, and QuickBooks Online and range in price from $9.99/month to $39.99/month.