I know as well as anyone else who runs a small business that keeping tracking of money coming in and out can be both stressful and time-consuming. Especially when first starting out I found that it was hard to balance this on top of everything else that I needed to do. Then I found a range of apps that could help and I have never looked back! They are simple, efficient and time-saving when it comes to keeping track of money and making sure you get paid on time. Below I have listed my top 5 favourite apps to get the job done. Hopefully, they can help you to save time and energy when it comes to getting paid.
#1- Quick Books
You have probably already heard of Quick Books, it is one of the most well-known apps available in today’s market for invoicing and there is a good reason why. It is an easy to use platform that allows for fast and simple control of your finances.
It can also be used for invoicing, which is a bonus. I found that their dashboard was straightforward and can be used to update your current invoice. The software will even provide accurate representations of the bills that you owe on your cash flow.
There is a monthly subscription that you can buy. This is a feature that is great for freelancers or small businesses. For a small fee each month you will have access to QuickBooks’ Self Assessment plan. The digital tax option is a little extra per month but again this is not a necessity. You should investigate what is right for you.
It is available on both iPhone and Android, so anyone can use QuickBooks, no matter your device.
FreshBooks is a newer take on QuickBooks, also being able to track your invoices, specifically targeted to freelancers and small businesses. It has other features too, such as time-tracking and expense tracking. Invoices can be customised in several ways, one of which is by adding your logo. They can then be transferred to your clients as either a paper copy or an email.
FreshBooks boasts an award-winning customer service team so you can ensure that you are in the best hands. They are also very active on social media. This includes helpful how-tos and any other resources that you may need to get started, all available through the help centre feature.
As with QuickBooks, there is a monthly fee slightly more expensive. This is the ‘Plus’ plan and allows you to invoice up to 50 clients each month. There is also inclusive access to the FreshBooks app for Android or iPhone, but this is only a feature of the paid version. In my opinion, it is certainly worth the money, however, there are cheaper options available to you.
#3- Zoho Invoice
Zoho has a variety of cloud applications for small businesses, but the invoicing software, Zoho Invoice, is especially helpful when just starting up. This version of Zoho has vast capabilities and I found it very quick and easy to use without much assistance. It certainly has a user-friendly interface which makes it great for beginners or those of us who are not so tech-savvy. It can create invoices, estimates and set up retainer invoicing.
It has various pricing plans that suit growing businesses, it is a free application for those businesses with less than 5 clients. Once you reach the threshold for this free version, the ‘Basic’ plan is extremely cheap and allows invoicing of up to 50 clients per month.
Zoho Books is the version that contains fully-fledged accounting software and is certainly one of the best on the market if you are looking for an all-round program to keep track of your money. The Zoho app is available on iOS, Android and Microsoft, so you can use it on the go too.
KashFlow is a UK based business, so the features on this app do have the UK market in mind. It is still helpful, but there are some aspects which are not suitable for Australian businesses I found. One example is that it links directly to HMRC, which is where UK tax is filed and it has a feature to send relevant documents directly to them. This of course is not relevant to the Australian market.
It is an all-round accounting app and it also has invoice features that can turn quotes into invoices in just one click. It also provides automatic alerts to notify you of late payment. It has a cheaper ‘Starter’ option with a monthly fee which is great for freelancers, sole traders, and small businesses.
The mobile app, KashFlow Go, can produce invoices and is available on iPhone and Android.
Invoicely is the newer version of Invoiceable. The best thing about this app is that unlike the others I have mentioned Invoicely allows unlimited invoices to be sent per month on the free version. If you are looking to try one of these apps out then I would recommend starting here to get a feel for it.
It is cloud-hosted and it is extremely easy to use, I found that I needed little to no guidance with this one. It has features that can help to grow your business and is affordable. There is a ‘Basic’ plan available for a small monthly fee which gives you access to time trackers and expense trackers, you can also set up recurring statements and provide quotes to clients.
The above has helped me dramatically when it comes to saving time and reducing your stress over money. When you have so many invoices coming in and out each day, getting them under control is a great way to not only minimise the workload but also control your finances and ensure that you are making enough to survive. Around 20% of small businesses fail within the first year, don’t let yours be one of them! Jump on board with these apps and get your money under control faster.