Tag Archives: invoicing

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Best Accounting Apps for Small Businesses

With such a wide range of applications to choose from, choosing the right ones can be overwhelming and difficult, especially when finding the best accounting tool for your business. Bookkeeping is an integral part of your business to help remain profitable. Fortunately, apps always make it easy to keep track and organize your data. Here is a list of the eight best accounting apps for your business.  

You can use a mobile accounting app to keep track of your business funds no matter how far you are from the office. So if you want to do bookkeeping on the go, we recommend checking out these providers.  The QuickBooks Online program is our top choice, but you’ll find plenty of other things to love about that we have reviewed here. 

  1. QuickBooks Online – Best Overall

The QuickBooks program performs everything your QuickBooks Online account does. That’s quite a bit of work, since many companies’ applications don’t consider the weight of their desktop versions. The following: 

  • Get 50+ popular, easy-to-read financial reports and send them to other parties.
  • Send invoices with receipts attached through SMS, email or messaging app, with the added security of an encrypted link. 
  • Automatic expense tracking. 
  • Use GPS to track mileage. 
  • Create, accept, and sign offers for customers even when you are away from the office.
  • Accept payments through your preferred payment gateway
  • Transfer payments to your bank automatically. 
  1. FreshBooks Our Second Choice

FreshBooks is an easy-to-use accounting software solution that simplifies the accounting process for your company. With features such as time tracking and account and cost tracking, you can easily control your costs.
Are you a Freelancer who needs to monitor project time, juggle costs, and send exact invoices to clients on the go? We cannot recommend the cloud-based accounting software FreshBooks enough for situations where you need this help the most. For $15 a month, FreshBooks allows customizable invoices without limitations. You can bill your customers the proper amount for each job using the platform’s time tracking capabilities to accurately record data.

FreshBooks also includes estimates that you can compile in the app to convert the customer approval and then to start billing after the project has been completed into an invoice. The app works well for Apple users as it does for Google users, and while it has fewer users than QuickBooks, it does very well for both platforms. 

Plus, the FreshBooks customer service team is very active on both review sites. If you have a problem, a customer service representative will usually handle your complaint in a matter of hours. The rep will pass on the request to a developer who will offer direct help for your needs. 

Other Apps of Value

  1. GoSimpleBooks 

With GoSimpleBooks, you can concentrate on the most important aspects of your business so that you don’t waste time on tasks that take a while. With simple and automatic interface capabilities, GoSimpleBooks does a lot for small business accounts easier for accountants who manage the finances of small businesses and sole proprietorships.

  1. Sage One 

Sage One performs and automates basic technical accounting chores to save you time. This application lets you create and send invoices from your phone, keep track of expenses, and see your entire business at a glance on your dashboard. 

  1. Sellsy Invoicing 

Sellsy Invoicing is a great app for small business owners and freelancers. It helps you send invoices, manage your products and services, and send payment reminders. It also has contact features that let you chat with the rest of your team, submit tasks, and keep a schedule. 

  1. Nutcache

This accounting app is inexpensive and ideal for small businesses. In addition to the expected accounting functions, Nutcache integrates with your favorite tools and even helps with project budgeting to avoid excess costs. It also offers billing, time tracking, and multilingual support.

  1. FreeAgent

FreeAgent helps you create invoices for customers and manage your expenses and bank accounts. This cloud-based accounting software ensures you don’t have to worry about lost information. It also offers automated bank feeds, time reports, and multi-currency billing to help small businesses with their accounting needs. 

FreeAgent has all of the basics of a good accounting software program, including receipt capture, billing, and on-site billing. It also has some key advantages. For one, it lists your upcoming tax dates so you can plan for them. It also has a timing function that allows you to keep track of meetings and manage mileage. 

Since FreeAgent is a UK-based company, all of its support team works in the UK. But that doesn’t stop the agents from getting in touch with you: The support team for the FreeAgent app answers virtually all comments (positive and negative) from both the App Store and the Google Play Store, thanking users and actively asks users to participate. 

  1. Hiveage: Best for Payments 

We know the Hiveage app has low user traffic, but given the company is only five years old (one of the youngest on our list), that’s to be expected. And if you need a quick and fitting way to top up, we highly suggest Hiveage to consumers. 

The software and app support more than twelve payment gateways, including Square and PayPal, plus more specific options like 2Checkout. Hiveage’s plans also allow you to make offline payments, and plans come with customers, invoices and cost estimates. The Hiveage app does everything the software does, which is excellent if you need the same functions on the go as you would on the desktop. And if you love the word unlimited but not the monthly fee, Hiveage’s new free plan only limits your monthly billable customers. Otherwise, you get unlimited billing, expense tracking, time tracking, estimates, and the free app.

B2B Payments: Pandemic Pushes Many Businesses to Automate Accounts Receivables

Chasing money from clients is probably one of the least desirable parts of owning a business. It takes away from many other tasks you could be doing – tasks that may grow your business rather than give you tedious or repetitive tasks to manage, but getting B2B payments is a part of doing business.

The pandemic has caused many companies to cut down on staff, and one of the first areas is always accounts receivable. This makes the average days of sales outstanding continually grow, and further hurts your business. Automating accounts receivable is one of the most important moves you can make.

Why is Automation Necessary

All businesses, no matter the size need automation today. It frees up the skeleton staff, enabling them to work on other tasks that keep the business running.

It’s like a double-edged sword. If you don’t automate AR, you could sit on unpaid bills for many months. Without the funds, you may not be able to continue growing or even operating because you’re low on capital. Without a full staff, though, it may seem impossible. It may have even seemed impossible when you had a full staff.

Automation takes the work out of it. When you automatically send notices, it’s not you or a staff member doing physical labor – no one has to take time out of his/her day to work on the A/R, make phone calls, leave voicemails, and send emails. Everything is done for you.

What Does Automation Look Like?

Accounts receivable automation for B2B payments will look different for every company. In general, though, expect:

  • Send notices before an invoice is due. Pick a duration, such as 2 weeks before it’s due, and send an automated reminder. The hope is that the reminder before the bill is due is enough for the company to pay the bill on time.
  • Send automated reminders at specific frequencies once a bill is past due. Whether it’s a few days, once a week, or every other week. Set up automatic reminders until they pay the bill.
  • Combine an automated process with manual processes, but not inside your company. Have the salespeople jump on board. Let your salespeople know when the bill is late and have them follow up on the notices you send. Sometimes that personal touch is all a company needs to get the bill paid.

Don’t Let Accounts Receivable Fall Behind

Accounts receivable is what makes your company stay in business. Without it, you don’t have money coming in. Because of the pandemic, many companies are purposefully behind or forced to be behind because their own sales are down.

Stay on top of your A/R by automating the processes to avoid losing business. Automating the process takes the labor off your staff and still allows you to be profitable collecting B2B payments. In today’s pandemic, every business owner needs to think outside the box, and accounts receivable is a great place to start. Get your A/R under control and the rest will fall into place.

Mastercard

MasterCard and AptPay Partner for Faster B2B Payments

MasterCard and AptPay Partner for Faster B2B Payments

MasterCard and AptPay announced on Wednesday, August 19, the integration of MasterCard Send into the AptPay platform. MasterCard Send is a global push payments platform, enabling funds to be sent securely in near real-time into any payment card or account. AptPay is a Canadian FinTech company. The partnership allows companies using the AptPay platform to send digital payments securely through bank accounts, prepaid cards, or digital wallets in near real-time.

The partnership enables faster cash access for businesses when cash flow management is more than critical – it is paramount to survival. The COVID-19 pandemic intensified the need for small and medium sized businesses to access cash. Much faster than legacy payment types, MasterCard Send can process payouts end to end. AptPay’s compliance services meet the compliance needs for their industry, ensuring transactions are safe and secure.

The COVID-19 pandemic also enhanced the need for businesses to digitize and automate their payment processes. With the ability to receive funds directly, securely, and in near real-time, businesses are liberated to enable free cash flow.

Safer, Faster, and Less Costly than Checks

Offering more safety than checks provide, the partnership speeds disbursements across multiple industries. With more transparent payment information along with the ability to approve, reject, or reverse payments, businesses can reduce check-related expenses and fraud. Checks not only involve added costs and lengthy timelines, but they also can take days to clear.

“Over the last few years, digital transformation and faster payments have been top priorities for many industries. COVID-19 has created the perfect storm, highlighting the problems caused by not having these priorities in place. AptPay’s Digital Payment Hub enables companies to execute on these priorities and weather the storm,” said AptPay CEO Suganthan Vishnu Krisnarajah

MasterCard

A global technology company in the payments industry, MasterCard uses secure data and networks with connections across more than 210 countries and territories. Their mission is to connect and power a digital economy, benefiting everyone, everywhere by making transactions safe, simple, smart, and accessible.

AptPay

Founded in 2019, AptPay is a Canadian Fintech in the payments space. Serving businesses across a network of connected financial institutions and multiple payment rails, AptPay envisions a future where payouts are safely made to customers in near real-time, without friction.

Host Merchant Services

Host Merchant Services offers state-of-the-art POS systems personalized for your business. From B2B to B2C and everything in between, HMS provides businesses the tools they need to be successful. For payment processing, HMS can help your business accept all credit and debit cards with the lowest transaction rates on the market. We are able to retain customers with our low rates and excellent customer service – not our contracts. With 24 hour customer service, seven days a week and 365 days a year, we require no term commitment, and we charge no up-front fees or hidden fees. Nor do we charge application or setup fees. An industry leader, Host Merchant Services is always here for you.