As a small business owner, it’s important to learn how to work smarter, not harder. Assess what your day to day looks like. What aspects of your business are eating up most of your time? Which manual tasks can be simplified with technology? From accounting and bookkeeping to hiring and training employees, there’s a software or app that can reduce the time spent managing everyday business activities.
If you’re still relying on spreadsheets to stay up to date with your books, it’s time to rethink your approach. Simply put, accounting software transforms the way you do business. Furthermore, the top accounting platforms on the market today integrate with a variety of other business management applications, making it easier than ever to run all aspects of your business in one place. You can get improved visibility on cashflow, manage staff more effectively, and automate other key business processes.
Here are our top eight app recommendations to be a more efficient business owner
QuickBooks Online – QBO is widely received as one of the top accounting software for small businesses around the world. You can track your income and expenses, send invoices, and even pay your W-2 employees right from the platform. QBO also provides detailed reports, so you can see exactly how your business is performing in real time. A myriad of other robust features make QBO the choice accounting software for small businesses.
Xero – Xero is like the younger, hipper stepsister of QBO. Xero comes with the same bells and whistles QBO offers, but has a more pronounced focus on design. Born in the cloud, Xero makes it easy to access your financial information anywhere, anytime, on any device.
Receipt Bank – Receipt Bank is an automated bookkeeping software. You can significantly reduce the time spent sorting through bills, invoices, and receipts. This software allows you to take photos of documents and upload them to be automatically processed and filed. Receipt Bank saves you, or your bookkeeper, heaps of time by automating manual entry work, which means you’re able to spend more time actually taking care of your business.
Gusto – If cashflow is the number one concern of small business owners, managing payroll and employees is a close second. Gusto is reimagining how modern businesses take control of payroll, benefits, and HR. With Gusto, it’s incredibly simple to process local, state, and federal payroll taxes. You can even offer benefits, workers’ compensation, and a 401k plan through the platform. And because Gusto lives in the cloud, you can eliminate employee paperwork and view all of your employees’ details in one place.
ADP RUN – RUN is an HR and payroll management software that specializes in small businesses that have 10 or fewer employees. Cashflow will always be a priority. With HR and payroll software, you can gain more clarity on your payroll cash needs. The cool thing about RUN is that you can also manage your employees better. It keeps you on top of compliance issues, employees automatically get paid on time, and you can even get expert advice on how to deal with problem employees. Additionally, employees can log into the platform themselves to check paystub records, time off, and other details.
Bill.com – Bill.com simplifies business payments and works seamlessly with your accounting software. You can minimize the time spent on bill approvals and payments and easily collect your receivables with ACH (Automatic Clearing House network), credit cards, or PayPal. Bill.com removes the need for double data entry and offers electronic accounts payable and accounts receivable.
Expensify – Expensify is changing the game when it comes to expense reports. They’ve got a singular focus on automating everything – from submitting expenses to approving them and even delivering reimbursements next day. Every step is automated. It’s a clean and simple platform that removes the hassle of dealing with expense reports.
Hubdoc – Hubdoc is a file management software that allows you to import all your financial documents and export them into data you can use to improve your business. You can submit photos of receipts and paperwork and even forward emails from your inbox to be filed away. All of your documents are automatically entered as bookkeeping records.
When you let technology work for you, you’re taking charge of your productivity and working smarter. Accounting and business management software makes it easy to streamline all of your business processes. Cloud technology stores your business and employee information securely, and lets you access the information you need anywhere, anytime. And to top it off, all of these platforms are available on mobile, giving you more accessibility and freedom.
If you’re looking to make even better use of your time, work with a bookkeeper who understands exactly how to employ accounting and business software. That way, you can spend your days doing more of what you love and taking your business to new heights.