A business owner faces many tasks during the day, and financial planning can seem like a job unto itself. From dealing with taxes to organising the daily expenses, it’s a surprise any work gets done at all.

Thankfully, there are Business Financial Management Systems that can streamline these financial tasks. We have already advocated how technology can help businesses, so it is always worth keeping up with the latest software and applications that can make running a business a bit easier. In addition, if you are looking for a business software that can help your business, you may want to consider contacting Fourlane to know more on how QuickBooks can help your business grow. And if you need professional financial advice on your business decisions, you may consider consulting with a professional financial planner.

So, what technology should you opt for within your business? Read on to find out more.

Accounting

While you could hire an accountant to take away some of your burdens, we recommend you use Xero. This popular software apps deals with many of the daily aspects of business finance, including invoicing, paying bills, and Paypal transactions. You can deal with financing on the move with a handy app for your phone, meaning you can always stay on top of your finances.

Budgeting

Business owners need to stick to a realistic budget, from dealing with overheads and managing the capital. For the latter we recommend you read the article at https://www.interstatecapital.com/working-capital-financing/ which better explains how to deal with dealing with money matters on the workfloor. Without a proper budget in place, businesses are going to fail. To help you, we recommend ‘Planguru’, a software package that helps you plan ahead, in the short and long-term, and gives you the tools to increase your profits.

Managing payroll

Your employees need to get paid the right amount of money and on time. To avoid dissatisfied members of staff, use something like https://www.surepayroll.com/payroll/mobile. Available on all mobile devices, you can stay on top of your workers pay, while factoring in deductions, sick days, and vacation periods.

Tracking expenses

Even the smallest expenses add up, so it’s important to know where your money is going. We recommend you take a look at https://www.expensify.com which offers an expense report tool for you and your employees. Receipts can easily be scanned and uploaded, letting you know where your money has gone, and when you should reimburse your staff.

Financial health

For up to the minute snapshots of your business’s financial health, we recommend you take a look at https://www.liveplan.com. With a clear visual overlay, the software will help you keep track of where your business is thriving or struggling, and offers collaborative tools to help you get back on track.

Customer payments

Many businesses use Paypal to send and receive money from their customers. This is a fast and secure way in dealing with financial transactions, and it can be integrated into shopping cart features from business websites. If you haven’t considered Paypal as an option for your business yet, then now is the time to get onto the bandwagon. There are fees for chargebacks, but many people consider the pros outweigh the cons. You can learn more here about different payment software. You may also visit sites like https://www.paystand.com/integrations/netsuite to learn more about NetSuite payments.