Have you thought about trying one of the many available accounting apps for small business owners?
Small business owners tend to have plenty of irons in the fire, so any technological helping hands can be extremely welcome.
Accounting can be particularly hard to stay on top of, and is often more time-consuming than it needs to be.
Luckily, there’s an app for that. In fact, there are a whole bunch. Here are five of our favourite accounting apps for small business owners:
You Need a Budget
Named the 2011 Reader’s Choice Winner for Best Personal Finance Software by About.com, You Need a Budget provides one of the most efficient ways to track your budget and schedule invoice dates.
It currently comes with a free trial, so there’s no harm in giving it a shot. Most users are surprised by how effective the system can be at getting them to make informed spending decisions.
As the name suggests, Expensify was built to handle expense reports. It’s often used by travelling salespeople, but it can also be great for small business owners who need to keep track of their expenses.
The standout feature is SmartScan. Simply take a picture of a receipt and SmartScan will read the information listed and create an expense entry automatically.
Plenty of small business owners miss out on tax rebates because they aren’t tracking their expenses. Using Expensify will help you avoid becoming one of them.
There are other accounting apps that let you create invoices, track your costs and synchronise with your bank accounts, but FreeAgent is perhaps the best for small business owners.
This is because it’s been designed with non-accounting types in mind. You can take care of your accounting tasks from one central interface, and it features outstanding user support.
Perhaps best of all, you’ll be able to use the information you collect throughout the tax year to create your self-assessment with minimum fuss.
FreshBooks is simple to understand, but it’s probably better for business owners who have a few people working for them.
The app lets staff enter their own tasks into an online spreadsheet. This makes keeping tabs on their payments easy.
It’s also very nicely designed, with attractive visualisations and a simple dashboard.
KashFlow is aimed specifically at UK small businesses. Items such as VAT reports are built right into the dashboard, and all UK taxation issues are handled quickly and effortlessly.
Again, it offers an easy interface for non-accounting types to navigate, with nothing included that doesn’t pertain to your own needs.
Accounting apps for small business owners: a summary
These accounting apps for small business owners make keeping track of your finances easier.
However, they work best in tandem with the services of an accountant.
Only a human being can get to know you and your business, keep on top of changes in tax legislation and offer specific advice tailored to your unique business.
If you’d like to find how we can help you, get in touch with us today.