How to Leverage Technology with Top Accounting Apps

A recent report by the U.S. Small Business Administration (SBA) says a high number of new businesses collapse because they have poor accounting and bookkeeping practices. For most small business owners, there are simply no funds to hire professionals to streamline their books. With DIY accounting and bookkeeping, problems are bound to arise and they can eventually drag the company down. If you are struggling with bookkeeping at your business, it is important to get the most effective yet affordable solution available. This is where accounting apps and bookkeeping software come in handy.

Leveraging Professional Services

With so much already on your hands managing your business, it is advisable to seek professional accounting services. Accountants are highly trained and certified to offer professional services which are recognized by the law. Their professional services can make all the difference between financial ruin and financial success.

An accounting firm working for you is a priceless asset which gives you a competitive edge in your industry. You are able to focus on the core business as these experts handle the more complex issues including tax issues, standardization of payroll systems, budgeting, insurance claims, financial planning, risk management and much more. An accountant works for you and as such, all financial decisions they recommend are aimed at improving your business.

How Accounting Apps Can Boost Your Business 

While you might have outsourced your accounting and bookkeeping services, it is still crucial to ensure you have total control over what is being done. A good way to stay up to-date with your finances is by leveraging the efficiency of accounting apps. Among the best apps you should try include:

1. Free Agent – This is a powerful tool that anyone can use to oversee their books. It is ideal for even the non-accounting types and it helps track expenses, invoice customers, synchronize bank accounts and much more. This app offers excellent user support and you are assured of the security of your data through regular backups.
2. FreshBooks –This easy-to-use software can be understood even by those with no background in accounting. FreshBooks comes with a user-friendly interface to create professional financial documents including invoices.
3. QuickBooks Online – This is one of the most versatile accounting apps available today. It has a wide range of features and the support of an accounting powerhouse, Intuit. It is a cloud-based app and offers accounts metrics which will help a user make the best decisions.
4. Xero – This is an online accounting application and a powerful tool that any business can use to manage its accounts. There’s a visually powerful dashboard that offers a good view of income and expense reports, pending invoices, key accounts and upcoming bills.
5. Sage One – In small business accounting, things can be slow and as such, you might not need a very powerful app to do everything. Sage One makes it easier to handle the myriad accounts.

Other apps that can help streamline your accounting operations include Zoho Books, NutCache, KashFlow, Wave, and Financial Force Accounting.