The best thing about having your own business is you get to choose and decide about everything. Whether it is about recruiting someone, or considering a marketing strategy, dealing with financial matters, or coming up with ideas. However, it can be challenging too to manage everything and also making progress in your business.
While running a business, sometimes it can be impossible to take out time to manage all the counting and manage your business financial matters. Yes, you can hire someone for the same, but that person needs to be highly professional, and of course, you need to adjust your budget for paying that employee.
Well, what if I say that your smartphone can be the solution to this problem. You read it right, many finance apps are present in the digital market to let you do your job with ease, and the apps will take care of the computing. Moreover, most of the apps are free or really cheap, so you need not worry about your budget.
The finance apps are useful in case of banking, budgeting, accounting, and other miscellaneous tasks. Let’s not waste any more time and look at which best financial apps are available for small business owners.
- 1 Best Banking Apps
- 2 Top Best Budgeting Apps
- 3 Miscellaneous
Best Banking Apps
Banking apps let you know about the available balance in your account/s, pending bills, paying those bills, and more. These types of banking apps are best to manage your finance for business.
Capital one Mobile
Any bank, irrespective of small or big ones are having their own apps now, and capital one mobile app is no exception. You can look into your account from your phone and check the balance, check the previous bank transactions and pay any due bills like a credit card bill from the same banking app.
This app can be downloaded in both iPhones and Android phones. Not only the banking transaction, but one can also secure the app login by using the fingerprint scanner option available for this app.
Bank of America
BOA has won the first place for providing “overall,” “functionality” in mobile banking segment last year. So, there’s nothing more to say about this app’s usefulness. If you have a BOA account, then you are in luck.
Yes, the same functions and tasks can be performed in Citi mobile app too. Without exaggerating much, it can be said that no matter wherever you are, you can still manage your bank account with the help of the banking apps.
This is basically a payment app and does not have all the functions of your banking apps. The square app is useful in interacting with your customer, or you can say interact seamlessly with the customer’s credit card/s. Using this app, you can swipe a customer’s credit card using the credit card reader provided by Square and be done with the payment. You need to pay a flat 2.75% per transaction.
The tech-savvy millennial small business owners can entirely depend on the Simple app for doing their all business transaction with ease and in a straight-forward way. Monitoring your transactions lets you do what is best for your company and what is not.
No, not talking about PayPal, because ‘PayPal Here’ is a different app. Similar to Square, PayPal Here also lets you swipe customer’s credit card using a point-of-sale credit card reader. Plus it can also assist in generating and checking invoices. However, the transactions or dealings get done through your PayPal account rather than your banking account.
Top Best Budgeting Apps
Those days are gone where you need to manage your payments (both incoming and outgoing) manually. Many apps are available nowadays in the digital market to help you in maintaining the budget. Following are some best financial apps that help in budgeting.
Even the smallest business owners make lots of payments; InDinero comes in play in such a situation to let you get rid of your headache. The app takes all the information from your bank accounts, credit cards, and gives you brief details about your spending. On the other hand, it also can forecast your business trends by analyzing.
Same as InDinero, Mint also pulls information from the bank accounts and credit cards. After analyzing your expenses, it provides weekly reports to make you realize your spending. Syncing your business account into the Mint app can help you recognize if your hard-earned money is not getting wasted at all. There are some apps that pay money, but you need to be careful while choosing.
Goodbudget can be called a manual version of Mint, where you can put all your details about your earnings and expenses. Rest all the purpose is similar to Mint.
Wally is the same as the other budgeting apps, but it has a unique feature. It can scan receipts or bills directly, so you don’t need to enter your expenses after purchasing anything with cash manually. So you can track all your spending correctly and effortlessly.
‘CreditKarma’ is quite famous for checking credit score. However, everybody doesn’t know that they have an app for both iPhone and Android phone users. Now, while looking at your phone, you can check your credit scores and keep track of credit card options.
If you want to talk about savings, then Digit can help you in such ways which you never think of. After analyzing your habits to spend, it gathers some money (which you would use in some unnecessary expenses) and saves that into a no-interest savings account.
No matter if you are using your phone or tab, Mvelopes can help you control your expenses that even Mint cannot do. The primary purpose of this app is focusing on your debts and self-disciplining you by letting you understand your unnecessary expenses.
The following apps have different but useful features which can help you in numerous ways for managing your small business’s finance.
This is an app which you cannot miss. It helps you create a business plan, pitch, and infographics. Plus it also tracks your profit and revenue by collaborating with your accounting app.
Tsheets is a timesheet app which helps you in employee management. You don’t need to worry about payroll processing and other related works, this app can take care of those tasks.
The name of the app does speak for itself. After collaborating with your accounting app, it analyzes all the required details and then assists you in account management. On the other hand, it sends a thank you note every time a client and customer pays and sends a notification to those whose bills are due.
So, you don’t need to remind your customer for paying the due bills, the app is going to do that on behalf of you.
Simple Loan Calculator
A free smartphone application, which helps you in calculating monthly payments. You need to enter the terms manually, interest percentage of the loan, and this app will calculate the rest of the details for you.
If you need to deal with shipping, and you are an Android phone user, then celebrate, ’cause you’re in luck. From creating and scanning labels to searching the location that the packages are headed to, and tracking all the delivery details— all these can be quickly done by using this app.
If you are into the online subscriptions, then you can take advantages of the app, Chargify. It helps you in managing coupons (even if the coupons are in paper or not in digital format), special offers, renewal plans, and validity of the coupons.
Last but not least, and definitely a popular and one of the best financing apps is PayPal. Having a PayPal account can simplify so many things in your professional life. It is one of the most trusted online payment platforms. One can make payments from this app without using their credit card, plus receiving and tracking payment details can also be done using this app.
Well, so what do you think about these apps that are mentioned above? Feel free to comment for any suggestions or any queries. Just remember one thing, that whatever your career decision is, you need to be prepared. Good luck with app hunting.
About the author:
Jason Mandy is a finance blogger. He runs the personal finance blog moneybumper.com. He is currently working as a writing content writing advisor & SEO analyst for some businesses.