Hate paperwork? One of these expenses tracking apps might be the answer to your accounting problems.
When your workdays are jam-packed, it can be easy for you and your employees to procrastinate the vital task of expenses tracking. Tracking expenses is essential for several reasons:
1) You need to know how your business is doing, and tracking revenues, expenses, profitability, cash, debts, etc. helps you keep a handle on the financial pulse of your business.
2) You’ll need documentation of your expenses and other financials to enable you to prepare an accurate tax return.
3) If (when) you’re audited, or even filing and managing your tax obligations, you will need the expense documentation to show them.
Fortunately, in today’s app-driven market, there are a number of good mobile programs that can help you with easy and quick expenses tracking with your smartphone. Such apps are also an expedient way to get timely expense reports from your employees.
These all anchor around a solid payment processing platform and allow you to use that sales and receipt data to stay organized and in charge of your finances. These are our favorite money managing apps to pair with any of Inclera’s payment processing solutions:
QUICKBOOKS
QuickBooks’ accounting software helps you run your business and provides a sense of your company’s overall financial health.
You can use QuickBooks to track your business’ sales and expenses; view financial statements, such as profit and loss reports; pay your employees and vendors; track unpaid invoices; maximize your tax deductions; and more.
QuickBooks connects to thousands of accounts — including your business bank account, credit cards, PayPal and Square — and uploads data from these sources seamlessly. It also simplifies doing your business taxes, as it tracks expenses and lets you upload photos of receipts from your phone. With QuickBooks Online, you can access QuickBooks on your iPhone, iPad, Android phone or Android tablet.
FRESHBOOKS
This app gives small-business owners and freelance workers a simple way to manage and track invoices.
FreshBooks lets you create personalized, professional-looking invoices to match your business; automatically bill your clients for recurring invoices; and accept credit cards on your mobile device. Other useful features include the ability to track and organize expenses from anywhere and create customizable business reports, such as profit and loss statements. FreshBooks works on PCs, iOS and Android devices.
WAVE
Wave is an accounting software platform designed for small businesses, independent contractors and sole proprietors with nine or fewer employees.
Wave let you track sales and expenses, manage invoices and customer payments, pay employees, scan receipts and generate accounting reports. The company also offers free personal finance software to help small-business owners manage their finances in one place.
Wave is compatible with Mac and PCs, and its mobile invoicing and receipt scanning app is available on iOS and Android devices.
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