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With the ‘always on’ economy, small business owners can benefit from mobile technology by forecasting their cash flow while on the go.
Tablets are also rising in popularity among small businesses, enabling users to manage their business while on the move.
And, as a result, there is a range of both free and paid apps for tablets and smartphones which can help business owners manage cash flow efficiently.
Here are just a few useful apps that should make it quick and easy to manage and track your cash flow. These can be run on any tablet that features the two main operating systems (Apple’s iOS or Google’s Android).
Free software
FreeAgent
Shoeboxed (available with Apple iOS or Google Android)
If expenses are the main area of cash flow that you need to manage, an easy way to document receipts and generate expense reports is by using the app Shoeboxed. It allows users to take photos of receipts and organise their expenditure. Time is saved on tax return preparation, expense reports, budgeting and bookkeeping
Paid apps
inDinero (available with Apple iOS)
A cloud-based financial tracking app, inDinero will help you monitor cash flow by pulling information from various bank or credit card accounts to give a comprehensive view of your business finances. The free version tracks 50 transactions every 30 days.
CashFlow (available with Apple iOS or Google Android)
A simple asset management app, CashFlow allows you to manage your daily cash income and outgoings, banking and credit card accounts. It is easy to use and small businesses can check daily, weekly, monthly or annual reports to keep on top of cash flow.
Float
This visual cashflow software forecasting service automatically updates small businesses’ accountancy data so forecasts can be worked out quickly.
Accounting Software
Free apps are great but tend to be limited. After using one, you may decide to make an investment in accounting software which will provide additional functionality. We always recommend using the right software packages for your business.
There are simple and cost-effective options available, such as Sage, Intuit Quickbooks and Xero. Most paid accounting software options also offer a free trial for businesses to test out their services, which is especially useful for new businesses and start-ups, who might want to avoid monthly fees while they are starting out.
If you are looking to improve your cashflow with an all-in-one business platform, why not try Small Business Pro? With one subscription, you’ll gain access to low-cost payment processing solutions and to funding options from our panel of professional lenders.
Further reading on cashflow
CEO and co-founder of Float, Colin Hewitt contributed to this article
