Managing a small business requires a great deal of expertise – from knowing how to hire the best employees to understanding how to account for your company’s operations, every small-business owner deserves a little help every once in a while.
If you don’t consider budgeting and accounting to be among your strong suits, it may be wise to invest in a software tailored to small businesses that can track, report and manage your company’s financials. These types of online services can be of significant use to those who may not have the time or capability to track and comprehend the intricacies of their budgets.
Thinking about using software to understand and analyze your financials? Look into three of the best services trusted by small-business owners across the country.
This software is among the most trusted by business professionals. QuickBooks acts as an all-encompassing financial resource for small-business owners. The service, which is available both online and for physical purchase, keeps track of transactions, employee payroll and company expenses. It generates reports on a platform that’s both accurate and easy to read. Professionals can access the general software or they can take advantage of QuickBooks for small businesses.
With this tailored software, executives have the option to pick and choose features that are applicable to the business. The software provides detailed reports on what consumers are buying and how much they’re spending, it shows any financial concerns – like overdue bills – that require immediate attention, and it shows how much money the business currently has in its accounts. Unlike other financial services, QuickBooks can also easily integrate with other apps, like Apple Pay or PayPal, which makes tracking certain interactions much easier.
While QuickBooks is popular among small-business owners, it does require a monthly fee. BudgetTracker offers similar tracking and budgeting services, but it does so for free. Small-business owners can link their bank accounts to the software to ensure the most accurate financial report regarding spending, revenue and transactions. This service is purely online, meaning professionals can access their store financials from any location. It also sends tailored alerts whenever certain bills are due or bank accounts have dipped to specific amounts.
When it comes to developing and sticking to budgets, Mint is there for your business. The online software keeps track of important financial information – such as bank accounts, transactions and expenses – and can be accessed both at the computer and on your smart phone. Small-business owners can also sync their bill payments using the service, ensuring they never miss an important payment.
Professionals looking to examine their spending habits and develop a strict budget for the future can use the app to evaluate past expenses and develop the most comprehensive budget for the future. As an added bonus, the service will also generate customized tips for your spending habits, allowing you to see the areas in which you need to complete the most work to improve your company’s budget for the future.