Finance and accounting are among the most daunting tasks for startups and entrepreneurs everywhere. A firm grasp on the finance and accounting of a business is a key determinant of business success so you want to get that right right off the bat. Thanks to the internet, there are numerous applications out there made with small businesses and entrepreneurs in mind to take a load off the finance and accounting aspects of the business.
Here’s a curated list of the top 5 finance and accounting apps. Here’s hoping one or two of them fit your requirements just right.
Is a cloud-based platform that brings together everything from balances and bills to your credit score and more. It brings your entire financial life into one place that’s easy to understand and has many features including tracking bills and budgeting and great security features.
It’s free and easy to set up. In just a few minutes you can see where your money is going which is critical for businesses at all stages not just startups. It automatically updates and categorizes your information from your credit cards to your retirement accounts and more. It makes it possible to see all your finances at once which is great for planning and having a clear picture of your financial health.
Xero is a simple and clean cloud-based financial and accounting app for startups. It helps you check your cash flow on the run and share critical financial data with key shareholders quickly and easily. It’s integrated with more than 700 add-ons and third-party apps that you can pick and choose from, depending on your needs, from inventory management, to time tracking, invoicing and paying bills. It’s a paid app.
Wave is a well-known free financial and accounting app focused exclusively on small businesses but with features that ensure even startups are at the top of their game.
Its features include customized invoicing, tracking of expenses and income, receipt-scanning and allows collaboration among others.
QuickBooks is a comprehensive financial and accounting app with numerous useful features. It allows you to connect bank and credit accounts for easy bookkeeping. It allows bank reconciliation and has a built in sales tax calculator. It allows managing of bills, reporting, creation of invoices and receipt tracking.
FreshBooks is a cloud-based financial and accounting app that’s simple and instinctive at organizing records. It’s secure and easily accessed from your desktop, phone and tablet. It automates tasks like invoicing, organizing expenses, tracking your time and following up with clients in just a few clicks.
Wally is a free personal finance and accounting app available on the iPhone. It helps you compare your income to your expenses, understand where your money goes and set and achieve goals. Wally lets you keep track of the details as you spend money: where, when, why and how much.
They recently released Wally+ which is exclusively on Android for the time being. It has everything the iPhone users plus a few new features. Its primary focus is comparing income and expenses to help in calculating ROI. It also allows you to take a picture of your receipt and the app will import the data into your financial tracker.
Here’s hoping one of these provides the solution to your financial and accounting needs.
Check this out 5 financial tips for entrepreneurs.