Why Your Small Business Needs a Mobile Accounting App
As a small business owner, do you ever find yourself struggling to stay on top of all of your finances? Do you ever have trouble setting aside time once a day or even once a week to get all of your payments, income and projections organized? Solve all of those problems simply and swiftly by incorporating mobile accounting into your business. Mobile technology gives you so many practical tools, so while everyone around you is poring through social media, playing games or texting, you can efficiently get all of your materials organized. With the right accounting app, you’ll be able to check that your income is exceeding your costs, that your bank balance matches your bookkeeping and much more even while you wait in line for coffee.
In general, most mobile accounting apps allow you to do the following. As a small business owner, you probably spend most of your time traveling, meeting with clients or suppliers and more. All of that leads to new invoices, so rather than waiting until the end of the day to take care of all of your invoicing, finish it after each meeting you have or after each piece of work that you complete. Not only is this more efficient, but it helps prevent any forgetful errors from emerging.
You’re responsible for your business’ payments, and sometimes they simply don’t go through. To stay on your suppliers’ good side, use your mobile accounting app to periodically check to verify that your payments have gone through. Being proactive like this can save a lot of time and prevent miscommunication.
One of the biggest problems that small business owners face is that when it comes time to update their books, they don’t have all of the receipts that they need. To avoid that problem, use an accounting app that helps you photograph and organize receipts so that you never forget or falsely remember any purchases.
These are the main features that you should look for in an accounting app, but there are some additional features that can help you in the future. Most apps do this anyway, but make sure that you can access all of the same information on a computer. Since you’re trying to use an app like this to increase your efficiency, make sure that the app that you choose uses visually efficient tools instead of cluttered and cryptic spreadsheets. Use the power of mobile technology to turn those stagnant moments of your day into moments of great productivity.