Starting a business is no easy work and it requires a lot of your time and effort to succeed. You need to personally ensure that the daily operations run smoothly and recruit qualified personnel to help. As a business owner, you also have the responsibility to promote it, but to do so, you need to have a strong grip on the finances.
You have to handle the budget aspect of the business and with all other tasks, it can get burdening very fast. Therefore, you need to find reliable tools to help manage the company’s finances, and that can be done easily by incorporating technology in business. Here are the top 10 tools to use for financial management:
Wave
Wave can be used by small businesses to manage their finances using the variety of features available on this tool. For example, business owners can scan receipts, create invoices, and do accounts in one tool. The interface of this tool is very easy to figure out and that saves a lot of time because it will not take long to understand how it works.
You can synchronize your business finances with other businesses or with a financial advisor. Wave is trusted by over 2 million users globally; you can also use it by integrating it into your business financial operations. That also includes finance subject experts at Dissertation Today and Australian essay writing who review tools and apps for the customers looking for the best tools for their businesses.
Xero
Xero is a highly reliable finance tool that businesses can use to record and manage almost any transaction. With this tool, you can create invoices and send them to customers making it easier to claim and keep track of the income.
After the desired period, you can use this tool to reconcile the accounts for those weeks or months. The tool also records receipts and keeps them safe in one easy-to-use interface. The best part is that this tool is available on the cloud and has a very clean interface without any unnecessary design aspects that might hinder the tool’s performance.
InDinero
InDinero helps small businesses get a snapshot of their finances in an interface that is easy to read and use. The tool automatically categorizes your expenses from the data it gets from accounts linked with its dashboard. Apart from the snapshot view, business owners can get detailed and very comprehensive financial reporting.
The web-based dashboard interface is very attractive and interactive. You can access it on both desktop and mobile devices. It is all you need to successfully manage your business’ finances in the quickest time and with great accuracy. You can use the insights received from this tool to budget accordingly and save expenses on behalf of the business.
To stay aligned with your financial reports, this tool is undoubtedly the best. You may also hire accounts and finance experts from the best essay writing service that can provide you with custom essay service, research writing and white papers for your business. And of course, the peace of mind that the essay writing services provide is unbeatable.
FreshBooks
FreshBooks is also a cloud-based financial management tool that has multiple useful features for business owners. You can run your entire business finances on the cloud in an easy-to-use dashboard with features such as invoicing and time tracking. Business owners can create and send invoices using FreshBooks, creating a professional image.
You can also benefit from the time tracking feature to determine how long it takes to complete certain tasks. That can help you easily create reports and realistic predictions for customers. The platform is quite popular because of its futuristic interface and the features it has.
Intacct
Intacct was specifically developed for small businesses and has very robust features making it an all-in-one tool for financial management. For example, the tool has features such as basic accounting capabilities, financial reporting, and consolidation as well as revenue recognition.
Above that, there are other features, such as inventory, vendor, and contract management. Because of all these great features, the tool has an average rating of 9 out of 10, indicating the satisfaction of customers about this service. You can also use this tool to manage the purchasing tasks of the business all in one dashboard.
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Mint
Mint has a variety of features that you can use to manage the finances of your startup business. You can manage the business’ finances by having a snapshot of all the accounts in one dashboard. Business owners can see all their total balances in one interface to get a sense of the company’s financial health.
The tool also automatically categorizes the transactions of the business, making it easier to identify how much you are spending on different expense categories. Therefore, budgeting is much simpler and you can start working towards saving on unnecessary expenses.
KashFlow
KashFlow is a cloud-based solution for small businesses that would like to manage their bookkeeping with greater ease. The tool simplifies this process and other accounting tasks using a variety of features built on this platform.
KashFlow is created by users in a sense because all the available features were requested by those using this tool. You can even link this tool with financial services such as PayPal and monitor your expenditure. It is easy to use this app and it has very comprehensive features that bring great value to the business.
QuickBooks
QuickBooks is one of the best tools to use when you are on the go and has all the necessary features for accounting tasks. Business owners can use this tool for invoicing customers and conducting other tasks related to financial account management.
If you would like to add photos or notes for the customer’s reference, it can be done on this tool. You can attach images and notes on invoices, transactions, and estimates created using this tool. The tool can be easily used on mobile devices, making it possible to manage the finances without the need to be in the office.
Expensify
Expensify is a great tool to generate expense reports and can be easily integrated with services like HotelTonight and Uber. These expenses are recorded automatically and added to the expense report. You can then add all the other expenses the business incurred during the month manually.
That can help business owners who are constantly traveling to identify where they can cut back on expenses. The tool is priced very competitively because it is just $5 for the premium version per user. It may be a little hard to wrap your head around the interface but as time goes on, it gets much easier.
Gusto
Gusto is a financial planning tool designed for small businesses in handling everything related to HR and payroll management. Business owners can also account for the benefits paid for by the company to the employees. The tool has a full-service payroll with all the necessary features needed to effectively manage employees’ salaries and wages.
You can also use Gusto to help with labor compliance by using the tips this tool provides to maintain compliance. Employees can also get financial assistance by getting a portion of their salary in advance using Gusto Cashout. The service does not affect the company’s finances and it is a free value-added benefit.
The bottom line
These financial tools have great features that simplify your life by taking care of accounting and bookkeeping tasks. Most of them are free with very affordable premium plans that small businesses can afford. You can easily be accustomed to these tools because most of them have easy-to-use interfaces without any unnecessary complexities.