You have to admit that if there is one area of business that most business owners dread and avoid as much as they can is accounting, especially when they don’t have any accounting background.
Over the years, more businesses have abandoned entering accounting transactions into books and turned to accounting software instead. Today, more businesses are combining their software with mobile applications or simply using mobile apps to track and record their day to day financial information in pursuit of convenience and easy access.
As mobile penetration became deeper more business owners began to seek a way to access their business information and record transactions on the go, mobile accounting applications were the answer. They are simpler to use and made it easy for business owners to access their financial transactions wherever they were.
This was especially beneficial to busy small business owners who were constantly on the go although it was limited in the number of things they could do, most of them made it easy for anyone to use and understand their accounts even without any accounting knowledge.
We have explored the numerous number of accounting apps available for small businesses today and highlight the following top five according to their ease of access, functionality and price.
- FreshBooks– is a cloud-based small business accounting software that features an easy-to-understand dashboard. It is one of the easier to use accounting apps especially if you lack any accounting knowledge or just dislike doing accounts. With the FreshBooks app, small business owners can automatically sync data between desktop and mobile apps so your information is always updated across devices. It allows you to track your billable hours, create and send invoices, chat with clients, capture receipts, and manage expenses, etc. Though the app is free to download you need a QuickBooks account to access it. To access the FreshBooks account costs range from as little as $15 per month (approximately 6,000 Naira) to over a $50 per month (approximately 20,000 Naira). It is available on both Google and Apple play stores with excellent customer reviews.
- QuickBooks– this is one of the more popular accounting apps available today with over a million downloads on the Google play store. The Intuit- owned mobile software offers a variety of features in a remarkably simple user interface that lets you create and send invoices, manage expenses, capture receipts, process mobile transactions with ease. Though the app is free to download you need a QuickBooks account to access it. Pricing for a QuickBooks account range from as little as $1o per month (approximately 4,000 in Naira) to over $100 per month (approximately 40,000 Naira). It is available on both Google and Apple play stores.
- ZohoBooks– Like most of the other featured accounting apps, the ZohoBooks app is mobile friendly and can be used to chat with customers, manage expenses, create and send invoices as well as track billable hours. Access to ZohoBooks features is available between $9 (that’s 3457 Naira) and $29 (11,142 Naira) per month.
- Xero Accounting– Although the Xero App is not as popular as QuickBooks or even Wave Apps, it lets you see your cashflow in real-time, reconcile your bank transactions, send and track invoices, and quotes, capture receipts and call your customers and suppliers directly. A monthly subscription for Xero accounting costs between $9 (3457 Naira) and $60 (23,000 Naira).
- Wave Apps– There are presently two Wave accounting apps; Receipts by Wave and Invoice by Wave. Even though these apps offer amazing accounting tools they are absolutely free to use. Receipts by Wave can be used both online and offline (syncs automatically as soon as an internet connection is available) to track and capture receipts. While the Wave Invoice App can be used to create, send receipts as well as automatically sends you payment reminders. As I have said earlier the Wave apps are available for free on mobile play stores.
Bonus – There are few other apps worthy of note like Nutcache which like Wave is totally free, Arithmo which automates your accounting calculations, FreeAgent and Sage One.
Although these apps are not as fully functional as their desktop versions, they can be used to carry out a few essential tasks in a much simpler way. Each of these apps has different areas of superiority to others; be sure to make your choice based on what your business and accounting needs are.