As a flat-out business owner or manager, you’re sure to find that your to-do list never gets shorter, and that there are never enough hours in the day to both actually get your work done and to work on growing your venture. While the number of your tasks won’t likely decrease much, you can make it easier to keep track of your company’s finances and handle all the various accounting paperwork by utilizing some of the top apps on the market.
Whether you need to get your firm’s finances up to date so that you can apply for a capital injection, or want to examine the accounts regularly to find ways of operating a learner business, there are plenty of benefits to having records organized and easily understood. Read on for some helpful finance apps that can save you time, money, and energy today.
One of the finance areas that can take up a lot of time throughout the year is expense claims. Generally employees will submit a big stack of messy paper receipts with their monthly claims, all of which needs to be looked through. The time taken to go through it all, organize it, and keep track of the data can really add up, especially if you have multiple staff members. This is where downloading an app like Expensify can really pay off.
With Expensify (available for both Android and iOS devices), you can have all of your team automatically upload their claims at the time that they generate an expense, saving them time as well as yourself. The app streamlines processes by allowing employees to upload costs while they’re on the go, whether directly after a lunch or other meeting, or while they’re away traveling for work.
The app can be linked to the credit or debit cards used by each employee so that any new charges are automatically noted and submitted to an expense report. In addition, paper receipts are taken care of too. Staff members simply need to take a photo of their receipts on the camera on their smart phone, and then sync this with the app. From there, Expensify will automatically extract the required data and upload it to the overall system.
If your business trades internationally, whether importing or exporting, you likely deal with multiple exchange rates on a regular basis. If so, it helps to have an app on hand that can make it quicker and easier to convert dollars. Rates is a handy applications that allows users to keep track of the latest exchange rates for all major currencies, including the U.K. Pound, the Euro, Japanese Yen, South African Rand, Swiss Frank and many more.
Using Rates you can convert prices directly on your phone, tablet, or other Internet-connected device no matter where you happen to be at the time. Each currency on the app has its own individual calculator, allowing for conversions in each direction.
Another system that’s helpful for busy entrepreneurs is KanBanFlow. An easy-to-use collaboration tool and to-do list for teams, the app lets users upload documents, schedule task due dates, and assign tasks to in-house or external personnel.
If you want to keep a close eye on projects so that you know when work will be completed and payments will be coming in, this tech will make it much easier. You will be able to see what all of your staff are working on at the moment, what tasks have been completed, and what projects are nearing due. This means that you can stay on top of invoicing and have cashflow running more smoothly, as well as keep track of total revenues.
In addition, if you and your team need to track the time you spend on projects in order to invoice clients correctly, KanBanFlow also comes in handy, as it has its own timer. The system also allows you to spot bottlenecks in your company’s workflow and reduce costs by analyzing and evolving operating processes. The tech has cumulative flow, cycle, and lead time charts that can be edited and produce statistics. KanBanFlow works on PCs and Macs, as well as iPhone, Android, and most other smartphones.
If you’d like to be able to see all your business finance data at a glance, check out the award-winning Mint app. This system was created by Intuit, the makers of Quicken, and gives users a comprehensive, instant, real-time look at their finances via graphs and charts. The app collects data from various sources, including bank accounts, credit and debit accounts, car loans and more. Cash payments can also be manually entered into the system.
Use Mint to see where your business spends most money; to generate reminders to pay invoices as they get close to their due date; to categorize expenses; and to set up alerts if budget limits are being approached. The tech is downloadable for both iOS and Android operating systems.