The Best Apps for SMB Finance and Accounting
Running a small business means you wear many hats throughout the day. When you can find software that will help you run your business, you won’t be completely overwhelmed with all the tasks you’ll have to do yourself. Almost every small business owner could use some help with their accounting or finances in general. While not all of these apps are perfect for your business, there will be one on this list that is bound to help you with the daily operations of your company.
- Fresh Books
This free accounting app is one that freelancers love to use. It’s easy to manage invoicing and expenses as well as the cash flow through the business. While you might not be a freelancer, it’ll give you an easy way to invoice and track much of your expenses. It’s great on mobile devices too.
- Free Agent
This is another software app that will help you invoice customers. It tracks expenses and will sync with your bank accounts. There’s also an element of the app that will track your time, so you can accurately bill your customers for exactly how much time was spent on their work.
When billing customers, you want to give them options for how they’d like to pay. If you’re on the road, you’ll need a card reader to use with your mobile phone. Square will send you a free scanner for your phone, which allows you to have the option of taking credit cards from customers. They charge minimal fees for each transaction and deposit directly into your linked bank account. With a linked account, they will instantly send money to your bank account too.
Online transactions are much easier with a company like PayPal. You can bill customers with emailed invoices. They have the ability to add a point-of-sale reader to your phone for a minimal fee with each transaction. Once in your PayPal account, you’ll need to log in to transfer to your bank, which can take a few days.
This is budgeting software that will help you manage your small business finances. When opening or running your business, there’ll be constant fees and expenses you’ll have to track. This means keeping yourself on budget with things like utilities and inventory.
If you need a way to track receipts and expenses while on the road, Shoeboxed is a great option. You don’t have to worry about losing receipts or tracking them down when it’s time for taxes. They’ll all be in one handy place. The IRS and CRA accepts digital scanned receipt images from Shoeboxed. The mileage tracker uses the GPS on your phone for accurate records.
The online version of this software makes it simple to connect your bank account to your accounting software for accurate tracking. From accounts payable to receivables, QuickBooks is the software that bookkeepers use in their daily work. It can help with sales and taxes too.
Intuit is the creator of QuickBooks as well as TurboTax, so they’re able to work together seamlessly. Along with the fact that it works well with QuickBooks, it has a live help desk and a ton of features.
- Loan Calculator Pro
A free app that helps you calculate the monthly loan payments on your loan. It’ll calculate interest rate as well as having an amortization table. There are graphs for those who love seeing their loan being paid in visual form.
If you’re the owner of a small business that ships products to your customers, you need an app like Boxmeup for shipping. It’ll scan labels as well as create them. It’ll search all the packages that you’ve inventories and track where they’re all heading.
Pick and choose an app or software that will help you run your business more efficiently. While it might take some time to learn how to use some of them, it’ll be worth it in the end when you can record expenses or do your taxes faster. You’ll likely find a great app for your business from this list.
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