5 Great Mobile Apps for Managing Your Business Finances

Apps for Managing Your Business Finances
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No matter how many sales your business makes, if the books aren’t balanced, you’re heading for trouble. While staying on top of your business finances used to mean maintaining an accounts team, a modern finance app makes it easier than ever to monitor your outgoings and revenue in real-time thanks to the Apps for Managing Your Business Finances.

Even the smallest of businesses live and die by their capacity for effectively managing complex financial transactions. In the gaming sphere, for example, the trust between customers and businesses relies on both parties being able to send and receive money timely. This could involve dozens of microtransactions per day for a single customer if they want to receive the winnings from the gaming company.

If that company can’t accurately track all transactions, the trust with the customer will be shattered. Moreover, to gain the trust of the customer’s many companies, especially in the e-sport sphere, suggest super hot demo propositions or discounts make the customer feel the partnership and the interest of the company to retain him.

So whether you’re trying to keep track of your expenses or set up a payroll system for your team, these 5 apps will make it easy to manage your small business from a mobile device at all times.

1. Best General Finance App: Xero

A popular desktop accounting platform, Xero is now available on iOS and Android to help you centrally manage a huge range of accounting systems. Some of these include:

  • Banking: synchronize Xero with your business bank accounts
  • Billing: organize and archive your bills and set up payment schedules
  • Invoicing: create and send invoices to your customers
  • Inventory: track your stock levels and view the sales performance of your inventory

You can also give staff and contractors access to your Xero accounts for a straightforward collaboration. If you want enhanced functionality, there are more than 800 third-party apps that you can download to add extra features to Xero, like Dropbox and PayPal. Xero offers a variety of price plans to suit any budget and every stage of your business’ development with packages like Growing, Early, or Established. Plus, finance app help is available around the clock with customer service.

2. Best Finance App for Payroll: Gusto

Gusto is a digital payment platform perfect for small business owners. The app lets you automate your payroll functions and can also generate tax returns, which can help you avoid a major headache when the tax season rolls around. Other features include employee benefits management, and the more expensive Gusto subscriptions include onboarding services, finance app personal time-off management, and other valuable HR systems.

3. Best Finance App Android: QuickBooks

This finance app download has proved hugely popular with small businesses, and for good reason. The cloud-based accounting platform is intuitive to use even if you’re not an expert accountant, and extra integrations along with more advanced invoicing tools help increase the value on offer. Four different plans are available, starting at $20 USD a month. While QuickBooks is not as cheap as some accounting apps elsewhere on the market, even the cheapest plan offers expense tracking and unlimited invoices.

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The finance app also has excellent integration services with over 200 apps for tweaking functionality. Some of the features we like best include the dashboard that gives you an intuitive overview of your business’s financial performance to help you stay on top of the books. The more advanced packages also offer powerful tools for project management, inventory tracking, and payroll implementation.

4. Best Free Finance App for Small Business: Wave

While Wave is certainly not yet as popular as more established finance apps like QuickBooks or Xero, it has one significant advantage over these competitors – it’s free. While it might not offer quite the same level of functionality, it does a very good job considering the base version of the app doesn’t cost anything to use. You still get features like:

  • Expense and income tracking
  • Collaboration
  • Bank account synchronization
  • Foreign currency invoicing
  • Receipt scanning
  • Multi-business accounts

If you’re a small business that’s just starting out and trying to maintain the lowest possible operating costs, Wave will still provide a remarkably robust accounting toolset. Additionally, if you do want to upgrade to a premium version, you can unlock more advanced features like credit card payment processing.

5. Best Finance App for Double Entry: Bill.com

One of the more challenging aspects of finance for a new small business is getting to grips with double-entry accounting, which is especially important for a gaming company when a customer expects to receive his valuable bonus as promised. Fortunately, Bill.com takes the sting out of this with an intuitive and robust payment and invoicing platform.

You can configure the app to manage your account payables and receivables simultaneously, which makes the whole process far more simple to navigate. Other features include payment scheduling, invoice creation, and the power to credit customers. Bill.com can also be integrated with other popular accounting platforms like QuickBooks, making it an excellent modular addition to your business finance toolset.

Final Thoughts

Where small businesses might once have struggled to establish their accounting processes, finance apps now make it easy to keep track of payments, invoices, and other financial comings and goings. Since many of these apps are compatible with each other, you can take advantage of their various specializations while still synchronizing them with your broader business processes. Do you have any finance app reviews for a service that we missed? Share them with us in the comments section below.

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