If you run a small business, managing your finances is one of your most important tasks. Fortunately, there are many fine software tools available that can help you do just this. Here are five finance tools your small business should make use of.
One of the most time-consuming and least enjoyable duties many small business owners face is doing payroll. While Gusto may not make doing payroll a fun process, it at least takes much of the hassle out of it.
What makes Gusto so great is how easy it is to use. It is quick to set up and its user-friendly interface simplifies everything. It even has some human resource management features included. Best of all, it is very inexpensive, especially in comparison to similar programs. It costs as little as $10 per month.
2. QuickBooks Online
Of course, payroll is just one aspect of accounting. You still need software to handle all your other accounting needs. This is where QuickBooks Online shines. It has everything you need to run your small business, and it keeps all your data safe on the cloud.
Not all small businesses are the same, and the people behind QuickBooks understand this. This is why they have three editions, based on your company’s size and what you need to do. Simple start, which costs only $20 per month, gives you all basic accounting features. If you need time tracking and multiple users, Essential costs only $15 per month more. If you also need inventory management and project management, Plus gives you those features for $60 a month.
Nobody enjoys filling out an expense report. Nobody. But with Expensify, you and your employees will at least hate it a little less. This software makes expense tracking easy for both those filling out the expense reports and those who have to manage them. It does this by automating the process as much as possible by using advanced technology, such as optical character recognition.
What is really great about Expensify is that it comes with a free version that you can use to see if it meets your needs. Even if you discover that you need the paid version, this starts at only $5 per employee per month.
If you are a freelancer, a contractor, or self-employed, you should really consider Wave for your accounting needs. Its software is tailored specifically for businesses like yours, with apps that give you the features that you need. It is also very easy to use. While it utilizes standard double-entry accounting, it does not force you to understand double-entry accounting, as it does this in the background.
Best of all, Wave is free to use, which means that it can’t possibly be cheaper.
The focus of FreshBooks is to manage your most important accounting tasks: getting paid and paying others. It accomplishes this with a simple and easy-to-use interface that will make your accounting tasks as painless as possible. It is really great at creating personalized and professional invoices without any effort at all.
FreshBooks is also affordable. Its price depends on the number of clients you have and starts at as little as $15 per month.