5 Mobile Financial Solutions That Are Smart For Small Business

Making money is fun, but accounting for it can be a total bore. How much time every day do you dedicate to simply organizing your finances? We’re living in an era where cloud technology has dominated the enterprise space. Surely there must be at least a few mobile financial solutions that you can use to streamline this whole process.

Basware, a company that provides invoicing services, has recently conducted a survey of small and medium businesses, concluding that the average small business employee spends about 17 hours per month completely dedicated to financial processes. These employees were not hired to perform these functions, yet they spend the equivalent of two entire working days every month just grunting over invoices. Maybe you own one of these businesses. If you do, you’re cutting holes into your productivity and profitability.

Without further ado, let’s have a look at a few powerhouses of financial productivity that work on your mobile device:

  • Basware (AndroidiOS) – If you’re dealing with several business clients, chances are they’ll nitpick on every detail of your invoices. They want a certain format that conforms to their taste, which makes things very difficult for you, especially since you’re operating on a small scale. To make matters simpler, Basware handles all that work for you with its innovative invoicing network. Electronic invoicing also cuts back on your paperwork and gives you a more solid way to organize yourself without having to shuffle through paper documents. Their mobile app lets you look through requisitions, manage your invoices, and approve them.
  • Freshbooks (AndroidiOS) – Freshbooks is by far one of the most powerful accounting suites available for small entrepreneurs. Although it doesn’t really allow for much flexibility in formatting, it makes up for all this with an expense tracker that allows you to take pictures of receipts and input them into your expense database. This is undoubtedly a powerful feature of any mobile financial app, and one of the selling points behind this tool. Once you enter the app on either platform, you immediately see how much money people owe you and have quick access to time tracking, expenses, clients, projects, estimates, and reports. This service is free for up to 3 clients.
  • Intuit Online Payroll Services (AndroidiOS) – Invoicing is only half of finance. Intuit’s Online Payroll allows you to easily and transparently manage payments for your employees and file your federal and state taxes. If you already love TurboTax, you’ll just as easily fall in love with Online Payroll. Payment plans start at $20/month. To add federal and state tax services, you only need to pay $8/month more. In addition to this, you must also pay $2/month per employee.
  • Financius (Android) – This app may not seem like much at first, but it certainly makes it much easier to track personal expenses. After all, aside from your business life, you do have a home and possibly even a family to go to. This app is mobile-only and offers transparent expense tracking, crystal clear reports, and it allows you to manage multiple accounts. Saving money has never been more fun! The app is free to download and use to your heart’s content.

With mobile accounting systems everything is at your disposal, wherever you might be. All you have to do is sign up and tap “Install.” That takes much less time than spending 17 hours a month banging your head against the invoices on your desk.

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Miguel Leiva-Gomez is the owner of The Tech Guy, a blog that presents futuristic and current news about technology with a light touch of humor, catering to the average consumer and prospective investor. Miguel has been working with computers and gadgets for more than a decade, working together with people to help them solve their problems and breaking down complex concepts into simple bite-sized pieces that the average Joe can chew.

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