The era of Microsoft Excel did not last very long. What appeared to be a paradigm shift in accounting and business management practices turned out to be a stepping stone in the continual quest to save entrepreneurs time and money in their ventures.
The fact is that accounting has traditionally been one of the most laborious and time-costly domains of running a business, and spreadsheets with calculation shortcuts were never quite efficient enough to make a lasting impact. Today, small business owners have more software applications for accounting than ever before. This is chiefly due to the rise of the cloud, and it’s pushing efficiency scores to new levels.
Here are five must-have applications that you need to make accounting easier and improve efficiency scores:
QuickBooks Online: A Go-To for All Things Accounting
If there is one accounting software you need to be using today, it’s QuickBooks Online. Modelled off conventional bookkeeping and accounting techniques, but designed to work for businesses in 2018, QuickBooks allows you to do so many things in one software. Multiple users can track bills, send invoices, and send or receive payment via existing online bank accounts. It is fundamental for all your small business needs and will cut down so much time by synthesizing all financial responsibilities into one program.
Hubdoc Keeps Track of All Your Financial Docs
Hubdoc is an essential extension to all the spreadsheet data you have regarding your business’ financial operations. Hubdoc will automatically import all your financial documents and turn them into digestible data points for your consideration. With all your accounts linked in a cloud-based platform, all you need to do is input receipts and other scanned financial documents and the program pretty much does the rest. It is an essential time saver for people used to the fragmented workflow of Google Drive folders or the laborious nature of paper bookkeeping.
QuickBooks is an on-premise and cloud-based accounting software geared towards small and mid-sized businesses. Easily compatible with pre-existing banking software, the program will update all the financial ins and outs your business goes through every day. With the Quickbooks Self-Employed app, freelancers and small business owners get to carry their accounting log with them everywhere they go. The tracking mileage function is tailored to freelancers, while the ability to photograph and upload receipts into the app is great for anyone looking to track expenses.
LedgerDocs Integrates with Most Business Apps
A lot of business owners will use Dropbox for file sharing or Quickbooks Online to keep track of their accounting needs. LedgerDocs is designed to augment the workflow experience of these business applications by connecting them all via cloud technology and personalizing the accounting experience. Never has bookkeeping been as fun and interactive!
Benefit from More Thorough Accounting Practices
These five applications are a must-have for any small business owner because they are easy to use and offer insightful data at the drop of a hat (so to speak). Not only will you keep better track of your sales and expenses – you will create valuable time in your week that is better spent on other aspects of the business!
Until the next time,