8 Online Tools to Invest in for Managing your Business Finances

It can be difficult owning a small business and managing all of the financial aspects that are involved to keep things running smoothly. Having excellent financial management tools can really help you to save time and money and have a transparent view of your business at every stage as you progress through the growth phases.

In this article, we’ll take a look at eight online tools to help you in your financial management process.

Financial management online tools

Of course, it goes without saying that in business, you need both the right tools and the right system. So, apart from your financial management tool, putting in place a risk management system, such as proper business insurance, is also vital to the success of your business.

1. GNUCash

This app can help you manage your accounting processes with no fees. Initially, it was an open-source alternative to the expensive programmes, but it has grown to be a strong and reliable accounting solution enabling scheduled transactions and accounting reports. You can do payroll management, statement reconciliation and all of the other small business accounting functions you would expect of a much more expensive solution.

2. Scoro

This is a software service solution for creative services and professionals. It provides an all-in-one business management solutions, including project and team management, process organisation, billing and sales. Some of the top features include forecasting and budget planning, financial reporting and analysis, KPI tracking, professional servicing and invoicing automation and budgeting.

3. FreshBooks

This is a highly popular accounting solution and very well known. It enables you to keep track of all your transactions in one place, including incomings, outgoings and expenses. You can easily see your cash flow, and it is both an online and an app-based solution meaning you can carry it in your pocket.

4. Float app

This is an online cash management application which enables forecasting to help you understand exactly where your cash flow is. Cash flow is vital to business success, and this app helps you to know exactly where you are – whether you are a business owner, head of a department or financial adviser.

QuickBooks screenshot

5. QuickBooks

QuickBooks is another very popular accounting software for small businesses. You can track your daily transactions, both incoming and outgoing, and invoice customers. You can simplify your tax and bookkeeping processes using QuickBooks, and it is a superb solution for the solo entrepreneur up to middle-sized companies.

6. InDinero

This is another web-based accounting app that provides tax solutions for business founders up to SMEs. The app scales well with business, enabling critical financial events and providing critical financial information at your fingertips when you need it so that you can understand the health of your operation. With this app, you can automate tasks, keep on top of bookkeeping and simplify finances and taxes.

7. Sage 50 cloud

This is a quality accounting solution for small and medium-sized companies with features, including budgeting, cash by forecasting, inventory management, taxes, and invoicing. You can remain compliant by using the built-in features of the accounting application to track all of your financial transactions. You can also invoice and make payments on the go through the app, and your accountant can access it as well.

Zoho Expense screenshot

8. Zoho Expense

This is the platform which many people swear by when it comes to monitoring and reporting expenses, and it is fun to use. It automates a lot of the expense related challenges that small businesses have and makes it easy to record and keep track of all of your transactions. It can also capture credit cards transactions and put them into expenses automatically.

So there you have it: eight quality applications to help you with your online accounting. Take a look through individual features and choose the ones most appropriate for your business.