There’s no doubt that running a small business can be daunting. There are a lot of things going on despite the size. You’ll always have to keep up with the deliverables, client requests, and a load of internal processes you need to keep track of, including the flow of finances. This is one of the most important things you’ll need to keep an eye on to keep the business afloat.
Running into problems is unavoidable, particularly in handling the business’s finances. Budget constraints may happen and monitoring both personal and office expenses can be a burden, which may greatly affect your operations and, eventually, your bottom line. Don’t forget the loans and taxes that you need to settle before the deadline.
The good news is, there are apps that can help you manage your finances and keep your small business accounting mistakes at the minimum. Here are a few that you could use to run your business even if you’re away on a business trip or vacation:
If you’re looking for more efficiency in your business’s payroll, tax, and benefits processes, Gusto is your go-to app.
Its key features include the effective managing of online employee onboarding, new-hire reporting, and filing of taxes. It can also automatically make deductions for your workers’ benefits and compensation payments with the added sending of emails for digital pay stubs to boot.
Small business owners and anybody else who handles accounting and finance duties for a company will find this app invaluable.
QuickBooks Mobile can help you track your sales and expenses, view financial statements that include profit and loss reports, pay both your employees and vendors, track invoices, and maximize tax deductions, among other functions.
QuickBooks can connect to thousands of accounts---your business’s bank account, credit cards, PayPal, and Square---and uploads all the data you have from these sources seamlessly. It also helps simplify doing your taxes, as it tracks expenses and allows you to upload photos of receipts through your smartphone.
FreshBooks makes it easy to do your small business finances online with its ability to streamline the invoice process through cloud accounting. The app can let you do quick reports, track time, and create invoices electronically.
FreshBooks is a great online accounting tool that works well for small businesses that have a limited number of customers and send out many invoices each month.
If you’re looking for an easier way to manage receipts from business expenses, Shoeboxed is the app for you. It can be a lifesaver during tax season since all of your receipts are stored in one place and can be accessed anytime you need them.
To use it, just take a photo of your receipt, organize it in your account, and it automatically gets stored online. You can also use it for contact management by taking a picture of any business card and store it online.
Do your payroll from anywhere with SurePayroll. You can not only pay your employees remotely, but also enter all of the earnings, deductions, hours worked, and any other data related to payroll on demand. Whenever needed, you can run quick summary reports of keep track of vacations, sick leaves, and any other data.
As an added bonus, your employees can also download the app and have access to their personal data. There will be no more questions about how many vacation days they have left or if they need paycheck verification.
Running your small business won’t be as much of a Herculean task with these nifty financial apps to help manage all the money handling aspects of the company. When everything is set up, all you need to do is press a few buttons and you’ll be able to run the flow of cash as needed. Keeping track of your profit and loss is much easier, making the necessary adjustments in all the financial aspects of the business.