Five invoicing apps for start-ups
Mobile apps designed to handle the accounts of small businesses are quickly gaining popularity among young entrepreneurs.
An app, of course, can't replace the skills of an actual accountant but it can be an invaluable tool for tracking and recording essential financial information, especially in an SME or start-up.
CAs play a larger role than simply tallying invoices and expenses. The unique collection of business and financial expertise offered by the CA qualification helps create highly-skilled and trusted advisers, who are well-placed to head up their own ventures.
However, running your own business means managing a lot of spinning plates and you may need a digital assistant to help keep track of what your company spends. Here are some of the best-ranked accounting and invoicing apps on the market.
A mobile version of the popular online accounting platform, the Xero app is geared specifically towards business owners.
Features include creating and sending invoices, storing client and supplier information, reconciling bank transactions and, crucially, allowing employee access to submit expense claims and view payroll information.
The app syncs with PayPal accounts and has a clear, user-friendly interface.
With options for self-employed users and small businesses, QuickBooks is specifically designed for HMRC requirements.
The small business-driven app allows you to track unpaid invoices, store receipts, accurately calculate VAT and automatically download information on bank transactions.
A colourful dashboard layout simplifies the volume of information and refreshes every 30 seconds to ensure details are up-to-date.
Expense record-creating tool Expensify uses SmartScan technology to retrieve data from receipts via your smartphone camera.
You can set up automatic approval and reimbursement for regular expenses, tie in your company's own policies and accounting practices for a seamless crossover and easily detect possible discrepancies.
Expensify can also actually integrate itself with a number of popular online accounting platforms, including QuickBooks and Xero.
Built for UK small businesses, KashFlow incorporates HMRC approved VAT reports and automatic tax calculations.
The app is a mobile version of the desktop accounting and invoicing software of the same name. It can send automatic reminders for overdue payments, file returns on HMRC deadlines and set up cloud-based payroll.
UK-specific user features and data-heavy reporting tools are highly useful for small business ventures.
5. Zoho Books
Part of a wider suite of business apps, Zoho Books was designed with 24-hour businesses in mind.
As well as expense tracking and automated banking, the app features a ClientPortal for customer feedback and real-time inventory tracking.
The Zoho digital ecosystem is considered the main rival to Google Apps for Business.
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