Bizmo has launched new iPad and iPhone app, which the company says is an accounting, time and billing suite for mobile devices.

The new app meant for small businesses is a fully native application for the iPad and iPhone, and was designed for efficient data entry by minimising screen switching and maximising data reuse with lookups.

The app replaces legacy accounting and time and billing systems with an app that supports time slips, expense reporting, receivables, payables and bank account reconciliation.

The company said that its Accounting Cloud supports the app with secure hosted data storage, electronic document distribution and full business reporting, plus automation of the debit and credit activities to produce financial statements.

Advanced features are configured including security by role and workflow for managers to review and approve employee, customer and vendor transactions.

Bizmo CEO Brad Florin said legacy systems and methods are a constant roadblock to small business getting the job done and the company breaks down that barrier with a completely mobile and native app that allows both workers and managers to be instantly productive.