Technology is a wonderful thing and it is making business finances easier to manage than ever before. Everyone can turn their phone or tablet into a mobile accounting machine by downloading a few useful apps that will save you both time and money.
Wave tracks your income and expenses and uses double-entry accounting, which is used by most businesses. The app allows you to link unlimited bank accounts. It also has a shoebox function for receipts. You just take a picture of the receipt with your phone. Wave even allows for custom invoicing.
QuickBooks Online is better characterized as a powerful accounting app than a straightforward bookkeeping application. Small business owners and anyone who handles the bookkeeping and accounting for a company will find that this app is invaluable.
The strength of FreshBooks is probably in customizing and automating your invoicing. It is compatible with 84 other different applications such as Shopify, Zoom, and G-Suite. The tool also allows you to build your own customized billing system for your business if you need it.
Many of the top accounting firms use Bill.com. It is useful for paying your business’s bills to their suppliers or your accounts payable. You can pay both U.S. and international suppliers electronically. It also supports ACH payments. If you use this app for accounts receivable, you can invoice your credit customers. You can generate digital invoices, automatic reminders, and electronic payments. Bill.com also allows for document storage. It integrates seamlessly with QuickBooks Online and FreshBooks Accounting.