Top 5 Apps, Websites and Tools to Help You Keep Control of Your Finances
Do you work for yourself or run a small business with a few employees? Well, as well as managing your personal finances, you need to keep a handle on the business finances. Controlling your finances is the only way to ensure your business isn’t spending more than it can afford to, and it could even help you to identify areas that you need to cut back. Here are five of the best apps, websites and tools to help you do just that.
Quickbooks is one of the leading accountancy tools in the world right now, and often ranks in the top spot in many ‘finance for small businesses’ must-have lists. You can use the app to help manage your business’s entire financial health, tracking your income and outgoings, profits and loss, unpaid invoices, and lots more. It also offers products like w2 and w3 tax forms and tax kits, which will help you to submit wage and tax statements easily when it’s time to do your returns.
Expensify is a useful app if you want a way of keeping track of your expenses while you’re on business trips or simply just out of the office. You can link the tool to your debit card, and anything you spend – be it a coffee, a train ticket or a new ink cartridge for the printer – will be automatically added to your Expensify account so that an expense report can be generated. It’s worth having an app like this in your ‘toolkit’ as it will help you to keep a watchful eye over the little spends you make here, there and everywhere.
Gusto is an app used by accountants, and it’s something that small businesses with a few employees will find really useful. It automatically reports your new employees to the government, handles local, state and federal tax filings, and emails digital pay stubs to your employees too. It’s well worth considering if you’re thinking of hiring employees for your small business as it takes out a lot of the stress behind the administrative work that needs to be done.
Cash flow is really important for businesses as it’s the very thing that ensures you can pay your overheads (such as rent on office space), as well as being able to pay your employees, vendors and suppliers. Consider downloading Mint’s app – it’s designed to link up to your business’s bank accounts so that you can see how much cash you have, and it’s a really easy way to create budgets you can actually stick to.
Small businesses and contractors often have a hard time getting paid. But it can be made easier if you’re willing to use the services provided by Due.com. Due.com allows you to create professional-looking invoices really quickly, and it helpfully boasts a clever design using coloured icons so that you can see the progress of all your invoices. You can integrate it with PayPal if you want to and set up recurring payments if you’d like to.
Try these five tools for managing your finances and see if they make a difference to your business.