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6 Great Apps to Manage Your Small Business Finances

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Small businesses are an integral part of communities as they create jobs and economic activities. However, due to little workforce employed, a single resource usually performs multiple tasks. Keeping track of the financial side of the business can be hard for such companies.

Small businesses usually can’t afford expensive accounting software. Typical issues they face include cash flow problems, tax compliance issues, payroll troubles, etc. They generally keep track of the finances and allied matters through traditional means. Some bookkeeping tips can aid these business owners in keeping their records straight

There are also some fantastic cellphone apps available that keep track of the financial situation and even offer advice. They offer amazing features available in the more expensive financial software. Generally, these features are for free or for a meager price. In this post, I’ll list these fantastic apps to help you manage your small business finances.

1. Freshbooks

It’s a mobile app that stores data in the cloud. It can be used by multiple personnel simultaneously, and the admin can set permission levels for access given to each user. Invoices, which are compatible with several other similar applications, can be customized as well.

Freshbooks also offers features for tracking billable hours, which is a helpful feature for some businesses. It also allows users to categorize the expenses based on their tax treatment. The web-based app is available for Mac and computer using Windows.

2. Invoice2Go

It’s an ideal app for small businesses where employees look after finances and sales simultaneously. The app allows the creation of new invoices, and in case of need, pull out invoices for clients from several months back. The app also helps predict the expected cash flow in the coming weeks and months.

3. Hubstaff

The app has some fantastic budgeting features and payroll that make it an excellent option for smaller businesses. It helps you track the hours spent on a given project by various teams and individuals and its costs. It also follows the budget allocation and how much is spent on a given task.

Payroll can be automated based on per-hour rates and the hours worked. The app also allows automatic billing to the clients and notifies when the payment is received through the chosen option.

4. Square

It is an excellent option for businesses that have a reasonably high volume of transactions. The app offers point-of-sale capabilities both at the store as well as remote locations. It also can collect payments for online transactions.

The app also notes the items sold and updates the inventory accordingly. It is also compatible with several other delivery apps, which help in tracking order location. The app can also send invoices to clients via email.

The ATM reader with the app comes free of cost. It charges 2.75% of each transaction, which is a bit higher than the commercial, financial institutions and may not be ideal for a business with a hefty transaction load. For smaller establishments, it is pretty good.

5. Gusto

It is another excellent app that helps with the payroll and handles your taxes as well. The app complies with payroll rules in all 50 U.S. states, so users don’t need to know all the rules. The app has different price plans, and the more advanced plans also offer some HR services.

6. Fluidly

It’s an excellent option for smaller businesses that run primarily on cash. It gives real-time cash flow forecasting and also helps with establishing different cash flow scenarios. It can connect with some of the standard accounting software.

The web-based app can be used on your Mac and Windows as well. With plans starting from $13 a month, it is a decent option for cash-centric small businesses.


Small businesses need all the support they can get, and these apps surely help. They have some of the same features as the more expensive software but don’t cost a lot. With these tools, such businesses can ensure that they do not get into a financial mess without realizing it.

About the Author:

Carole Anne is the bubbly head honcho of Key Admin. She started the company in May 2012 and has successfully grown it into a thriving bookkeeping business. She is one busy, determined woman. On a daily basis you’ll find her buzzing between developing business systems, liaising with clients, imparting key business advice and managing software integrations. She’s also a BAS Agent Member of the Institute of Certified Bookkeepers


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