Smartphones enable small business owners to run their businesses from just about anywhere. It’s simply a matter of logging into an app and taking advantage of its functionality. Some apps are self-contained, while others connect to software on office computers. It’s easier than ever for a business owner to walk away from the physical location and still keep an eye on business without micromanaging. It’s now possible to invoice customers, keep track of inventory, take care of financials, and more with these following four apps.
Xero is one of the more well-known desktop accounting software suites. Now, it brings its quality software to the smartphone with plenty of features and a clean interface. Swipe through the menus to enter the relevant information, and let the app do the math. Check accounts at a glance for their balances, see who has and hasn’t paid invoices, check expenditures, write up invoices, and send them, all from the app. Xero lets business owners streamline their financials any time it’s convenient.
Entering receipts into a database to track expenditures is time consuming, and it’s easy to make errors. Xpenditure can save the day. It’s a clever app that turns your cell phone into an OCR scanner. Not only does it take a picture of the receipt and store it, it also reads the information on the receipt and enters it into data fields. All you need to do is to make sure the information is correct. Once confirmed, you can throw away the receipt without worry because the information is stored in the app for later retrieval. A phone like the Samsung Galaxy S7 edge is perfect for this purpose, as it has a wide screen for more viewing area and an excellent camera. You can generate a report to share with whomever needs it. No more looking for paper receipts, and no more carrying around a pile of them for turning into the accountant later.
Businesses that have a handful or two of employees will find a lot to like in Wave. The app is primarily aimed at the small business operation that has nine employees or fewer. It’s a free app, but it’s rich in features that are usually found in paid apps. Wave uses double-entry accounting, which means that the journal entries and chart of accounts are open for modification. When you make a correction in one place, it’s made in all other applicable locations as well, which keeps everything accurate.
Perhaps the most beneficial aspect of Wave is the fact that it connects with financial institutions and downloads recent transactions. It makes balancing the checkbook fast and lets you see when checks have cleared through the account.
Freshbooks has been around for well over a decade. It’s a full-featured accounting software suite that works with smartphone apps. It allows users to make payments to settle outstanding debts, keeps track of expenses, helps with managing taxes, and creates custom invoices that attach to email. One of the handiest functions is the time sheets and time tracking ability. Any number of users can log into the software from their smartphones and keep track of the time they spend on their part of any project. This makes project time tracking more accurate and prevents the business from losing money due to time not being properly billed.
Freshbooks has an interface that is easy to learn and use, so it takes very little time for users to get up and running, and the first month is free.
The one thing that all of these apps have in common is that they provide financial access to any authorized user from anywhere there’s a data signal. It’s a simple matter to keep up with the financial needs of your business with your mobile device while on public transportation, as a passenger in a car, or while on a flight with Wi-Fi access. There’s no need to wait to get into the office or to a computer for access to your financial information.