Running a small business presents numerous challenges and a small business owner needs to be a multi-tasking magician. Marketing, HR, IT, purchasing and finances all need to be managed, whilst focusing on the core function of the business and ensuring high standards in a fiercely competitive business environment. Finding ways to streamline administrative functions can have a huge benefit in overall productivity, which is why financial management software and apps have surged in popularity. Packed with features and simple to use, here are some of the niftiest financial management apps available.
Keep track of expenses effortlessly
Compiling expense reports is notoriously frustrating and involves saving receipts and keeping track of business expenditure, which is why Expensify is invaluable for business travellers. Simply install the app on your smartphone – Expensify is conveniently available for both iOS and Android – and take a photograph of your receipts when you receive them. It then converts this information into a report, making record keeping and expense monitoring quick and easy.
Accounting made easy
A refreshing take on business accounting, Freshbooks was designed to be simple and intuitive for non-accountants to use. It is widely used around the world and can be used on iOS and Android. Create invoices, monitor cash flow, automate payments, log time sheets and convert these into billable hours, and use the at-a-glance reports to track the various aspects of business finances. It will even flag clients who haven’t paid and can share information with accountants for a headache-free tax season.
Accounting software with clout
QuickBooks is well known amongst entrepreneurs as an accounting software package that is robust and heavy on features. It can sync with a bank account to automatically reconcile bank and credit card transactions, send invoices, create reports such as profit and loss reports and balance sheets, and track expenses. Add-on features include payroll management and the ability to accept online and mobile payments.
Financial health at-a-glance
InDinero prides itself on helping businesses to track where their money is going. The dashboard has graphs and analytics that provides visual information regarding profit margins, product performance, and business spend. It will also provide budgeting suggestions and forecasts.
Trim down office expenses
Busy business owners can’t afford to waste time keeping track of the service requirements of their office equipment, and while the usage of printers and copiers can be optimised to decrease costs, doing this manually is laborious. With this in mind, Seartec has created Fleet Manager, free software that not only keeps track of toner levels and the maintenance needs of office technology (preventing costly mechanical errors), but also detects usage levels on the equipment. This helps to ensure more efficient and cost-effective solutions, saving money and valuable time – all important factors for small business owners. Simply call 0800 474 277 to get this software installed.
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