Many people would like to be entrepreneurs but they hide away from starting businesses because of finances. Managing finances is one of the toughest parts of running a business, and a business that is not managed properly will fold up eventually.

That is why we have put together a list that can help. These five apps will make managing finances in your small business easier.

1. Truebill

Truebill is an app that lets you see where you’re spending money in your business. This app can be used to monitor both personal and business expenses.

You can download the app from Google play store or Apple store. After downloading the app, you have to connect your business checking account and credit cards to the app. Once you do that, all your expenses and subscriptions will be categorized into an easy-to-read graph.

This way, you can have your business expenses summarized for you. Not only that, the app will also help you analyze your monthly subscriptions and compare them to the average price of similar services. If you happen to be overpaying for a service, Truebill will contact your provider and negotiate the payment on your behalf.

Talk about a helpful app.

2. Wave

If you are an independent contractor or a small business owner with less than nine employees, then Wave is just what you need. With Wave you can send invoices, manage payments, scan your receipts and track your monthly revenue.

It even gets better. The app is completely free and there are no limits to the number of invoices and transactions that the app can handle for your business.

However, you can buy additional financial services from the company for your business when you’re ready. You can also pay Wave Advisors to work with you, and they can give you business advice and help you with your bookkeeping or taxes.

The app is easy to use, and it offers a lineup of amazing features. They do have a few drawbacks though:

The app offers a limited number of integrations; and

Their customer support team can be difficult to reach.

3. Zoho Books

Zoho Books is a great app for small business owners to use, if they need accounting help. The software is intuitive and easy to use.

It also contains all the necessary features a small business owner will need to get their business account right. It’s has the following features:

It is cloud-based.

It provides recurring invoicing, payment reminders, accounts receivable, and inventory tracking among others.

It allows you to keep all your business financial records in one place.

The software is not free. However, it comes at an affordable price.

The most basic plan starts at $9 per month.

4. Gusto

Gusto is an online payroll system designed for small businesses. With Gusto, you can set up your business’ payroll automatically. The software will even handle your tax filings when it’s tax season.

Gusto has three different pricing plans, and you make the choice of a plan based on the level of functionality you need.

The basic plan of Gusto is called the Core plan. It has features like payroll, benefits and unlimited customer support.

You can upgrade to either the Complete or Concierge plans. Both plans cover employee onboarding, time-off requests and even an HR centre.

5. QuickBooks

QuickBooks stands out when it comes to online bookkeeping softwares. QuickBooks is a cloud-based software that is easy to use. It offers numerous integrations and provides a business with advanced invoicing features.

There are four different plans offered by QuickBooks. The most basic plan costs $20 per month. But it comes with unlimited invoices, expense tracking, and reports. It also integrates with other apps.

The software has the following features:

It is pretty intuitive and easy to use.

Its dashboard provides business owners quick insight into their business finances.

It allows users to access robust payroll, project management and inventory management features once they upgrade their plan

It is not free, but it can help your business save a lot of money.

Bottom Line

Managing the finances of your small business is a critical part of running the small business. If not handled properly, it can lead to the fall of the business.

Fortunately, there are various smart apps which are available to help make a variety of these tasks easier. If you choose any, it will help you focus on carrying out other tasks while it handles your accounting and payments.

Want to do better at managing your business finances? Get any of the apps above.