5 Apps Your Accountant is Begging You to Have for 2015
Running a small business can be a rewarding and enjoyable experience. Handling the tricky financial side of things is typically not. Income taxes and deductions, sales tax, sales receipts, inventory management, expenses and many other financial responsibilities can be overwhelming. And for those entrepreneurs who just push it to a pile on the side to deal with ‘later’, they run the risk of losing complete visibility into their true financial status.
Xero, the online accounting software company, has pulled together five must-have apps to help entrepreneur’s manage their business and streamline finances. These simple apps allow business owners to take control of their accounting, POS, inventory and taxes and give their accountant a ‘break’ when tax season rolls around.
- MileBug: It’s not uncommon for small business owners to log a ton of miles in their car driving from one business task to another. The good news is, if your miles are business-related, there is a good chance that they are tax deductible. Be sure to use mile-tracking apps like MileBug to monitor your gas spend and miles travelled to ensure you get the best return when April rolls around.
- Square: If you're still using a traditional cash register as your point of sale system, then it's time for an upgrade. Mobile credit card payment software like Square will help streamline your point of sale process and integrate easily with multiple accounting and invoicing applications. Also, in today’s mobile-centric world, Square allows you to accept credit card payments from an iPhone, iPad, or Android device (and your customers will appreciate the lack of lines and you coming to them to ring up their purchases).
- Tax Jar: Managing sales tax is a confusing and time consuming task for any entrepreneur or business owner. To simplify the process, use software like Tax Jar to automate sales tax return filings, keep track of local tax regulations and monitor years of payment history. Automating sales taxes and filings will result in fewer headaches for both you and your accountant.
- Stitch Labs: If you are a retailer who carries inventory for your business, consider using software like Stitch Labs to manage your inventory and automatically sync all resulting financial data from any channel of commerce. This will allow you to integrate all sales channels, fulfill orders faster and capitalize on inventory deals.
- Xero: Get rid of your outdated system of shoebox accounting or desktop software and reach for the cloud. With cloud accounting software like Xero, business owners can easily manage their finances on any device whether they're working from home, in the store or even on-the-go. Integrating with over 300 business applications, Xero can provide a real-time view into your finances, enabling smarter business decisions and providing more strategic view for financial forecasting in the New Year.
With everything that a small business owner needs to handle on the day to day, these apps will certainly help you to better manage the financial side of your business and allow for more insight and control. Get the help you need by downloading these apps, and you’ll be on your way to a less stressful and more profitable year in 2015.