Accounting Post



Monday, October 8, 2018

Best Apps To Stay Up-To-Date With Business Expenses

Best Apps To Stay Up-To-Date With Business ExpensesIf youre running a small business, youve surely had instances where you had to wear a lot of hats. Saving money for future, paying off debts and protecting what youve got can be a sticky business, but its worthwhile if you handle it with utmost care. To get into the habit of tracking your outflows carefully, we are giving you some of the most famous apps you can use for the task. Most of them are free and connect to your bank and credit accounts, pull and organize transaction data. Tracking your expenses will help you save money on your taxes, as well as help reduce the chance of an audit (or at least leave you well-prepared if you are audited by the IRS). Its not just about getting tax deductions depending on your client, you may be able to bill those expenses directly to them. Here are some of the best apps for you:


This app enables you to add past or future income and expenses to a calendar that calculates the impact on your balance, as well as spending by category. The app is designed simple and straightforward, so youll have no problem adjusting to it. It is completely free and doesnt link to your account, but it has manual input. You can download it in iOS and Android easily.


BuildGuard is a personal finance company built by data scientists and designers. It keeps track of your spending by type, month and location. Also, you get to access your credit score and other identity protection tools like data breach alerts. It is free, however, to have access to credit monitoring and identity theft insurance, youll have to pay 83.88 dollars a year.


This accounting software is easy and simple to use. It will help you run your business and provide a full sense of your companys financial health. It tracks your business sales and expenses. You can view financial statements, pay your employees and vendors, track unpaid invoices and much more using this app. It is available on Android and iOS, and even has a tablet support. However, plans range in costs, from the first three months and after, but you get a 30 day free trial.


This app recreates envelope budgeting of the past, only for the digital world. You can set a budget for each category and spend from that designated category. You can save a lot of money with it, along with being on top of your bills at all times. The basic package is free, but for a full year of unlimited categories, five years of available history and syncing up to five devices, youll have to pay $45 a year.


With LearnVest you can categorize transactions by type of expense, set and track goals and have a handy net worth calculation. You can start with predetermined goals such as credit card debt, emergency savings and retirement, and work through them until you find goals of your own. It links to accounts and has manual input, but to partner with a financial planner youll have to pay a $19 monthly fee.


If youre an independent contractor or a small business owner with fewer than nine employees, this app is made for you. It can track business sales and expenses, pay employees, scan receipts and generate accounting reports. Its software is available on the website, while you can find invoice and receipt-tracking on the Apple store.


If youre used to stacking all of your receipts in a shoebox, you will love this app. With it, you can scan and organize receipts and business cards, create expense reports, track mileage and much more. All you need to do is put your receipts in a magic envelope and they will digitize and organize them at their offices so you can deal with them later. This app has different packages suited to different needs, so look into it and find your own.


If youre looking to grow your business and save some time to focus on more important things, consider using some of the apps weve mentioned. They are surely going to make your life easier and stress-free as you progress. However, dont rely on them altogether. Many corporate insolvency professionals advise to find a perfect middle ground. Although there are some excellent methods of controlling your finances and accounting, they dont diminish the chances of firms becoming insolvent, so be careful.

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