Properly managing business finances is a time-consuming and often tedious process. Whether the business is large or small, a minor miscalculation could have major consequences. Fortunately, in today’s technologically savvy world, there are endless apps designed to help business owners accurately manage and monitor their finances. These apps are especially helpful to business owners because they are user-friendly and easily accessible, as most people have their smartphones with them at all times. This, in turn, allows business owners to view or modify their finances in a matter of minutes, even while they are on the go. Consider using these five helpful business finance apps in order to simplify your business finances:
Gusto, previously known as ZenPayroll, is a financial app that assists business owners with their company’s payroll, taxes and benefits. With Gusto, newly hired employees are automatically reported to the proper governmental authorities and all taxes (from local to federal) are filed automatically. The app also provides digital pay stubs to each employee via email. It is available for download on both the Android and iTunes app stores. Users can also access their financial information by visiting the website on a laptop or desktop computer. Gusto specializes in providing its effortless payroll services to small business owners and charges a base fee of $39 each month, with an additional fee of $6 for each employee.
LivePlan is an online, cloud-based service and app that gives small business owners the tools and information that they need to develop a thorough business plan. The app walks small business owners, at any stage in business development, through every step of the planning process. To streamline the process, business owners can quickly import their financial data from popular bookkeeping platforms, including QuickBooks. Once financial data is received, a business budget and forecast are quickly developed. LivePlan subscriptions start at less than $12 per month.
Wave is an innovative financial app that caters to business owners with little to no knowledge of accounting. Through the app, owners are able to track their income and expenses while receiving assistance so that they are able to better understand their business’s finances. The service is free and is best for small business owners, independent contractors, and sole proprietors. Wave’s service is offered to individuals in more than 180 countries.
4. Zoho Books
The Zoho Books app can be used for creating invoices as well as tracking expenses and income. Unlike other finance apps, Zoho Books is also useful for sales, marketing, e-mail collaborations and recruiting. The app can be integrated seamlessly with Google e-mail accounts and is offered on both iOS and Android operating systems. Zoho Books offers a range of plans, starting at $12 a month for one user.
5. You Need a Budget (YNAB)
You Need a Budget (often referred to as YNAB) is a financial app which can be utilized to manage both personal and business finances. The app primarily assists users with developing a comprehensive budget that is catered to their needs. With innovative features, such as bank syncing and goal tracking, the app is ideal for business owners who are searching for a simple way to stay on budget and pay off their debts. YNAB also creates comprehensive financial reports in a pie chart format for the ultimate user-friendly experience at a cost of around $50 per year.
Say goodbye to your bulky boxes of receipts and hello to your newfound free time. Each of these apps allows you to update your financial information from anywhere in the world with a WiFi connection. Simply enter your information and let technology handle the rest of the work. With affordable prices, user-friendly interfaces and remarkable capabilities, utilizing any one of these five apps will undoubtedly simplify the process of managing and tracking your business finances.