These 6 Financial Tools Will Transform Your Business

We’ve come a long way from the old accounting ledger. In this digital age, there are apps aplenty to help you overcome any financial obstacle that may come your way. For newer businesses, choosing the right applications and software can be critical to the financial management of your business—especially if you’re not particularly financially-inclined. Whether you’re an accounting wiz or a complete novice, try out these six financial tools and watch your business transform before your eyes:

QuickBooks

This one may seem like a no-brainer, but there’s a reason why QuickBooks is one of the most popular pieces of accounting software for small businesses. QuickBooks does it all—payroll, invoices, bank account management, bill payments, and more. Whether you’re a first-time business owner or a seasoned accountant, QuickBooks has the tools you need to keep your accounts in order.

Square

The phrase “Do you take credit cards?” used to be the bane of many small businesses owners’ existence. Square, a portable card reader compatible with iPhone, Android, and iPad, has changed that. Smaller than a matchbook, Square turns your mobile devices into a credit card processing machine. Using Square, you can accept payments anytime, anywhere, for a rate of 2.75% per transaction. In the early stages of your business development, Square offers a quick and easy solution to your commerce needs.

BodeTree

A reference to the Bodhi tree under which Buddha famously achieved nirvana, BodeTree helps business owners interpret and understand their financial data without getting a headache. The people behind BodeTree are aware that finance isn’t for everyone, so their interface is specifically designed with non-accounting aficionados in mind. The app draws data from your QuickBooks account to generate easy-to-read infographics that present your business metrics. I’m particularly fond of their “Business Enlightenment” function—it assesses all aspects of your company’s financials to determine the health and future success of your business.

Expensify

It’s well known among business owners that creating expense reports is a total drag. While I can’t imagine expense reports ever being fun, Expensify makes them a whole lot easier by logging expenses from your credit cards and bank accounts into PDF expense reports. It even allows you to export your expense reports to QuickBooks, making your accountant’s life a whole lot easier. And did I mention that it’s free?

Funding Gates

Are you sick of chasing down customers to collect overdue payments? Now that I mention payments, are there a few outstanding that you may have even forgotten? Funding Gates is a receivables management platform that will help you issue invoices, track due dates, and generate diplomatic requests for payment from your customers when necessary. Your improved cash flow will thank you.

Biz2Credit

Big or small, old or young, all businesses need capital to achieve their goals. Biz2Credit focuses on the little guy by helping small businesses secure loan financing. Using a patented algorithm, Biz2Credit assesses your businesses’ financial data to connect you with the small business loans that are best suited to your needs.