The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
In today’s digital business world there are more tools than ever to help you run and manage your small business, especially the accounting, billing, and payments side of things. As well as desktop-based software programs, these often take the form of apps, offering flexible, integrated, and on-the-go financial assistance round the clock.
Apps are especially useful for small businesses and startups who can’t yet afford the luxury of in-house accounting teams, or those looking to make crucial savings in all areas of the business.
Managing your accounts is one of the most complicated, and yet most important parts of any business, large or small, while accurate billing and invoicing are essential to keep cash flow moving and the business in a stable financial position.
The below accounting and invoicing apps for small businesses all have features that enable you to manage bookkeeping, accounting and billing, no matter where you are or what time it is. Many of these also integrate with other business solutions, such as PayPal. You can view all our accounting partners here.
The following are some of the best invoicing and accounting apps:
One of the most popular business accounting apps, powering tens of thousands of small businesses around the world. It’s a relatively simple and straightforward tool, which may explain its popularity, covering everything from tax accounting to payroll and inventory management. There are various price points and services available, making QuickBooks an ideal choice for all types of small business, from sole traders to growing SMEs.
In exchange for a monthly fee, you also get access to a huge array of invoicing and billing features, as well as updates and customer support. QuickBooks offers a great way to keep all your financial information in one easy-to-access place. There’s a choice of plans suitable for different sized businesses, and it can be integrated with inventory management and tax features.
FreshBooks is one of the more popular accounting apps on the market, partly due to the lower price point. It enables you to easily handle invoicing, cash flow, expenses, and more. Excellent free customer service means there is always someone on hand to help you out and its easy-to-use interface makes it very intuitive to navigate. The use of clear language also makes it suitable for businesses with less of a grasp of accounting terminology. The low-cost billing plans feature everything you might need, with the more expensive plans offering a further choice of helpful features.
This app allows you to monitor your cashflow in real time, create expenses, and import all your latest banking transactions to stay up to date with your finances. Xero can also integrate with over 700 other small business apps and related partners, as well as offering a choice of plans for businesses of different sizes.
Mainly intended as accounting software, some Xero plans also offer an invoicing solution suitable for most small businesses. It can also be scaled quickly, meaning it’s ideal for growing businesses. There is a free trial available, and lots of integrations make it a convenient solution.
Businesses using any of the above accounting and billing apps, or many more hitting the market every day, can streamline operations and remove the pressures of end-of-month accounting once and for all – at very reasonable price points too.
Payment processing apps are essential tools for ensuring that you get paid promptly, and in a way that works for the customer. Some payment apps also enable you to integrate these services with other applications, such as inventory, loyalty schemes, and more. There is a choice of payment processing apps available to small businesses, including mobile payment apps and wallets, online payment gateways, like PayPal, and point-of-sale (POS) systems. Each type can have potential advantages for businesses, as you can see below.
One of the most trusted brands and online payments systems in the world, PayPal offers a range of services including digital wallets and business apps. The POS app can process credit cards, checks, and even invoices on your phone, making it one of the simplest ways to accept payments for merchants. Transaction fees are low, and it works internationally.
Small businesses can use apps like PayPal to offer convenient payment options to their customers by being easy to use and widely accepted in both online and physical stores. The fewer barriers you can put in the way of payment, the more you can drive sales.
Small businesses need to operate in the most streamlined and efficient way possible to grow and be successful. Without the luxury of in-house teams taking care of accounting, payroll, payments, and more, these basics of business can become excessively time-consuming or costly. Thankfully, the advent of small business applications has allowed many small businesses to carry out these business essentials in a much more convenient and cost-effective way. If you’re still working the old-fashioned way, then maybe it’s time you tried the apps mentioned above, or any other of the multiple small business tools now available.
In partnership with three expert business owners, the PayPal Bootcamp includes practical checklists and a short video loaded with tips to help take your business to the next level.
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