Top Accounting Apps for Small Businesses

12 Must-Have Accounting Apps for Small Businesses

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Statistics show that 40 percent of small business owners consider bookkeeping and calculating taxes the most unappealing aspect of running a business according to score.org. About 47 percent of respondents hate the financial costs, and 10 percent dislike having to keep up with ever-changing regulations.

Accounting Apps for Small Business Meet Critical Needs

Today’s intuitive accounting apps for small businesses offer simple ways to keep on top of your business records while commuting, traveling to clients or working at home. You can do payroll or generate W-2 forms while waiting for the game on New Year’s Day. You probably won’t need all 12 of the must-have apps, but you can choose the apps that are best suited to your business, company size and other criteria. Some of the must-have business accounting apps for today’s lean and mobile businesses include:

1. WagePoint

WagePoint, the online payroll service for businesses, solves one of the most challenging issues for business owners–keeping accurate payroll, deducting the right amounts, filing reports and delivering payroll on-time. There is no business task that is more mission-critical. The online service, which you can access from a mobile app, handles direct deposits, new hire onboarding, contractor payments and deductions for local, state and federal taxes. The service also handles the onerous duties of deducting court-ordered withholding and printing W-2 forms at the end of the year.

There are no setup fees. Semi-monthly and bi-weekly payrolls cost a $20 base fee and $2 for each employee. Weekly payroll costs a $10 base, and quarterly payroll costs a $75 base fee. Payroll preparation typically generates costly errors when self-prepared. A professional online payroll service can ensure that employees are classified correctly, and the service keeps you informed about evolving labor regulations.

2. Expensify

The Expensify accounting app for small businesses, which automates expense reporting, is designed for staff members and outside salespeople. The app offers one-click receipt scans, next-day reimbursements, automated workflow approvals and automatic synchronization with your record-keeping software. It’s also used by some of the most respected companies in the world including Uber, Forbes, Snapchat, Square, Pinterest and CBS Interactive. Additionally, it can even flag receipts that require staff approval. The cost for the service is $5 per month for each active user during the month.

Top Accounting Apps for Small Businesses - Expensify

Source: Expensify Community

3. Xero

The Xero mobile bookkeeping app allows you to manage your business from any iOS or Android device. You can upload your receipts with your phone’s camera and review the receipts of your staff to approve expenses. The app allows you to store critical customer information, send invoices immediately after completing work and set custom levels of access. You can try Xero for free and choose from Starter, Standard and Premium plans that run between $9 and $70 per month.

4. Google Analytics

Google Analytics, while not exactly an app, is a critical service that allows you to monitor your apps, improve the customer experience, increase conversion rates and gain critical insights into your marketing efforts. The basic service is free for anyone to use, and you can measure the impact of any business apps that you’re using.

5. FreeAgent

The FreeAgent app is great for non-accountant types who need a reliable app to track expenses, monitor payments and sync your bank account. Data is always backed up to the cloud, so you never lose information.

6. Gusto

Payroll is such a critical area for businesses that this list includes two services. The second recommended payroll app, Gusto, advertises that its service is easier to use than other payroll services. The plans start at $45 per month, and it might be a better deal for some companies depending on their needs. The app makes it easy to enroll in health benefit plans, deal with IRAs and 401(k)s and file monthly or quarterly payroll reports at local, state and federal tax departments.

7. Wave

The Wave app, which handles business invoicing, is a great investment for small business owners because you can use the app to send professional-quality receipts, invoices and payments. Even neighborhood businesses can look like multimillion-dollar companies. The app accepts credit cards and bank payments, so your company gets paid faster. The most amazing thing about this app is that it’s free–free software for invoicing, bookkeeping and receipt scanning. However, you will pay for the POS system that allows you to accept mobile payments. Each credit card transaction costs $0.30 plus 2.9 percent of the total, and bank debits cost 1 percent of the total with a minimum charge of $1.00.

8. Pushover

The Pushover app for simple notifications works with Android, iOS and desktop devices, and you can use it to send unlimited push notifications. The app comes with a free seven-day trial, and the system integrates with other Web apps, software and almost every programming language.

9. Need a Budget

The Need a Budget app is ideal for businesses that must focus on cash flow to survive. Planning and tracking expenses can make the difference between having enough inventory for the busy season and struggling to earn enough income to cover basic expenses. It’s easy to get caught in the trap of reduced cash flow because of slow-paying clients, financing difficulties and seasonal slowdowns, but this intuitive app can generate a budget based on uploaded bank statements. If cash flow is a problem, this app offers an ideal solution for proactively financing your business through careful budgeting.

10. FreshBooks

The FreshBooks mobile app is free to try and works with both Android and iOS phones and tablets. The app includes almost all the features that are available on full versions of the software.  So, you can handle your record-keeping chores while on the go. The basic plan costs $15 per month, and you can bill up to five clients. The Plus plan–at $25 per month–allows you to bill 50 clients. If you have more clients, the Premium plan costs $50 per month. Also under this plan you can bill and manage up to 500 clients. FreshBooks includes time-tracking and project-management tools. It costs $10 to add each employee to the system.

11. Nutcache

Nutcache, This accounting app for small businesses is perfect for invoicing and time management needs. This will help your business to create an unlimited amount of invoices, adding your logo, and sending them in bulk to your various client. The features that it offers are for expenses, reporting, and online payments. It will also allow you to communicate with customers globally with its multilingual interface!

Their pro plan is $5 per user/per month when paid on an annual basis. It is $6 on a month to month basis. The other plan is the Enterprise. This will cost $12 per user/per month on an annual basis, and $15 when paid monthly.

12. Kashoo

The Kashoo app facilitates using the cloud to keep the books. This powerful app is ideal for smaller businesses and owners who have little or no experience in bookkeeping.  Kashoo offers a 14-day free trial so you can test if it will work for you. Owners can choose from monthly or annual payment plans, and the software comes with four introductory videos that walk customers through basic entry tasks. The app doesn’t include any predefined or custom documents, but seven invoice templates are included. There are no hidden fees, and the plan costs $19.95 per month.

12 Must-Have Marketing Apps for Small Businesses

12 Must-Have Marketing Apps for Small Businesses

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Running and managing a small business is not always an easy task, but there are ways to make it a little easier – especially when it comes to marketing. There are, in fact, a number of marketing applications that you can’t afford to miss – especially as a small business owner. Having the right apps can increase your marketing effectiveness and enhance your profitability – taking your business to new heights.

1. Hootsuite

When it comes to small business marketing, speaking to your customers and staying in touch is one of the most powerful ways to reach your sales and retention goals. Since many of your customers use Facebook, Twitter and other social sites to communicate with their friends and stay updated on their favorite brands, you want to make sure you have a strategy to keep in touch with them on these channels. With HootSuite, you can not only schedule posts so that you can publish them at the right time; but you can also track your results and measure the effectiveness of your social campaigns.

 

2. Buffer

Since many things are constantly competing for your customers’ time, you need a way to grab their attention – fast. When people face distractions at every turn, you can use Buffer to stand out from the rest. In addition to allowing you to manage your social presence, Buffer also lets you create stunning images that will stop your prospects in their tracks. This marketing app will help you craft social advertisements that they won’t be able to ignore, and your bottom line will improve along the way.

 

3. Perka

Have you ever been given a card for that free sandwich from your favorite deli? But only if you get all of those tiny holes punched. This is the most common marketing tactics for a local businesses loyalty program. Perka does something similar for your business but digitally. This is a valuable resource to try for your business if you are looking to or currently have a punch card program. Also the best part is, it’s free!

 

4. Pagemodo

This is an intuitive design studio for creating your Facebook ads. This will help you create engaging visual elements and customized features that encourage fan interaction, and you won’t need the professional help to this successfully. It will also allow you to schedule posts and find the most relevant content for your Facebook, Twitter and LinkedIn pages. So make a statement with this great marketing tool for your small business Facebook page.

 

5. BuzzSumo

Smart business owners and marketers know that content marketing is an important piece of the puzzle when it comes to growing their businesses and building their brands. Finding the type of content that gets results, however, is often hard. You can cut the learning curve and uncover the type of content to which your prospects are the most likely to respond when you use BuzzSumo. You can find the most recent content that is trending on social media and across the web. Buzzsumo also makes it easy to find and speak with influencers in your industry.

 

6. Canva

Canva is an amazing go to resource for creating images for social media, developing infographics or designing some flyers for your next big event! And now It brings all of the features from the web right onto your iPad. With just the tap of your finger this application is very easy to use. Change around templates, drag elements into place, and share directly when you are finished to Canva’s integrated social sharing.

 

7. Quora

This crowdsourced Q&A website has an enormous amount of uses for marketers, especially as a source for information and content ideas. This gives you the ability to check in on the latest questions and topics. Those who use Quora do so to ask questions on any subject they want, read high quality knowledge, and view relevant content from others.

 

8. Snapchat

Snapchat is a growing trend from which you can benefit if you use the right strategy. With Snapchat, you can send high-quality pictures of your products and team to highlight what you have to offer, but that is not all. You can use it to promote limited offers and discounts that will inspire people to buy from you. You will get instant feedback on the results of your campaign, allowing you to make small corrections as needed. Using Snapchat to reach your business goals will allow you to keep your products and services at the front of their minds.

 

9. Dropbox

If you work on projects with your team and need to store your files in a secure, central location, Dropbox can improve your results. Allowing you to upload and download files from anywhere on the planet, Dropbox will enhance your productivity. The security features of the application will ensure that only authorized individuals will have access to the content you share.

 

10. Mention

When it comes to the success of your business, few things are as important as your reputation. Building a brand will allow you to charge much more for your products or services because your customers will know what to expect when they come to you. If you want to have an attractive brand that sends the right message, monitoring and responding to the things people say about you is critical. With Mention, you will know each time someone says something about your business online, allowing you to answer questions, respond to negative comments and thank people for their support.

 

11. Flipboard

If you would like to stay relevant in a market that is always changing and evolving, you must pay attention to the latest trends. Flipboard will show you recent stories and developments related to your industry. You can use the information to make changes to your approach, or you can share the content with your subscribers.

 

12. Pinterest

Pinterest allows you to create and share high-quality images that will inspire people to follow you. You can publish images that showcase the products you sell or that teach people how to solve their problems. Pinterest advertising allows you to send your content to the right people at the perfect time.

 

Final Thoughts

When you want to make running your small business as easy as possible, using the right applications can take you far. Getting small business loans, optimizing engagement and tracking your progress will become simple tasks that won’t require a lot of effort, and you will know that your business is moving in the right direction.

Regulations for businesses

New Year Means New Regulations for Businesses

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While you are busy trying to stick to your New Year’s Resolutions, remember that 2018 also brings a changing regulatory climate. These new regulations can significantly affect small businesses across the United States.

Don’t get caught off guard! Ensure that you have a plan in place to not only operate under new regulations, but to also handle the disappearance of old regulations that have affected businesses for years.

Here are the top four things to pay attention to as a small business owner in 2018

Possible Changes to Overtime Rules

Just as you might have paid attention to potential changes to the Fair Labor Standards Act (FLSA) by the Department of Labor in the last year, be on the lookout for more changes to come in 2018.

Alexander Acosta, the Secretary of Labor, has suggested recently that he would consider increasing the salary threshold for exempt employees. The current administration believes that the Obama-era FLSA adjustments were too high. Meaning any new increases would be much more modest.

Health Care Reform

It’s a hot-button issue in Washington and is on all business owners’ minds heading into 2018. With Congress having difficulty passing a new health care plan, the president is now making incremental proposals. This is in efforts to fix some of the insurance problems facing the country.

Just earlier this month, President Trump proposed new rules that would allow small business owners to band together to create their own customized health insurance plans. This is for employees that would be exempt from the consumer protections found in the Affordable Care Act (ACA).

If these rules come to fruition, it would save businesses money on the health plans they offer their employees by cutting out some benefits currently mandated by the ACA.

Minimum Wage Increases

While not applicable across the entire U.S., 18 states and 20 cities will be increasing their minimum wage rates starting in 2018. Hopefully you’ve been paying attention, and you are probably well aware of these changes for 2018. That being said, don’t expect any significant changes to the federal minimum wage rates. These increases in minimum wages are often lead at the local level.  This is beneficial for businesses that believe the market will dictate what wage is worth for their area.

If you operate in an area with one of these recent increases, you’ll likely have to make changes to your hiring practices. In addition, this will impact the number of employees you manage.  All of this is to ensure the increase doesn’t negatively impact your business.

Optimism for the Future

With the passage of the GOP tax plan, businesses both big and small are excited to reinvest their newfound savings into equipment and employee benefits among other things. In fact, according to reports included in the Small Business Index for Q4 2017, 63.2% of small business owners are optimistic about the future.

So far, President Trump has held his promise of repealing regulations that he claims are stifling business growth. While it’s not certain which regulations could be rolled back next or whether they are beneficial for small businesses. You can definitely count on less new regulations for the next couple of years.

2018 Small Business Contests

2018 Small Business Contests

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6 of The Best 2018 Small Business Contests

2018 small business contests – Anyone who owns a small business knows that finding funding can be an ongoing hassle. You might have perfected your product or services and have your customer service game down to a T, but when it comes to getting a little extra money to reinvest in your business, well, that’s a whole other ballgame.

Maybe that’s a way to think of financing your business — as a literal game. Of course, it’s hard to think of traditional forms of financing, whether a loan or government grant, as a game, but for the intrepid biz owner willing to dig a little deeper, there are plenty of small business contests in which you can participate. And some of these contests come with serious cash rewards.

Today we’re going to look at six of the best contests (or games, if you want to be a little more playful) for small businesses to enter in 2018.

1. Cut out food waste

The amount of food we, as a nation, waste is truly staggering. Anyone who has ever worked in the food industry knows this firsthand. To encourage companies to creatively think through this issue, The Foundation for New York’s Strongest will award $2,000, along with technical advice and goods and services, to the company that presents the best plan for how they would tackle the problem of food waste. This touches many industries. If you’re thinking of applying, hurry! The deadline is January 8, 2018.

2. Throw your best idea at a big problem

Small business owners often see the world in a different light. While they work to scale their ideas and grow their business, they often stop to think, Why haven’t others thought to do things this way? Many times they find that cost-saving solutions for their business could be applied to larger problems. The Roddenberry Catalyst Fund awards these ideas, giving grants of up to $15,000 to support ideas that could make a dent in some of our most urgent problems. Applications are accepted on an ongoing basis.

3. StreetShares Foundation

Are you a veteran or do you know someone who is? If so, you’ll want to take a look at StreetShares’ Veteran Small Business Award. Open to veterans, reserve or active duty members or their spouses who own at least 50 percent of the business, this program awards three annual prizes between $2,000 and $5,000. Finalists are decided by a round of judges, and the winners are ultimately selected by a public vote. This process makes this grant a fantastic opportunity to raise money and receive some valuable public exposure.

4. Caleb Brown Urban Excellence Community Grant

Do you dream of building a business that has a central role in the community, one that eventually becomes an institution? Each month the venture capitalist firm Caleb Brown awards a new community business with a gift of up to $1,000 and one year (about 500 hours) of complimentary business consulting. The goal is to nurture entrepreneurial talent in urban areas and support those who seek to build or grow small businesses in their communities. Applications are due on the 15th of every month.

Even if you don’t win any of these contests, entering them is a chance to focus on what makes your company great, where you want to grow your business and how you’d like to do that. Doing this can create a game plan that will make the coming year the best yet.

5. Eileen Fisher Women-Owned Business Grant

Are you one of the best women-owned small businesses out there? Well if you are try your luck at qualifying for the grant that awards 10 winners a maximum $10,000 each. Fashion designer Eileen Fisher has been doing this annually since 2004, and the application process begins again this Spring 2018. So, if you’ve been in business for at least 3 years, you’re eligible for this small business grant for women entrepreneurs. Learn more here about how you can further qualify, and snag the win on this contest!

6. National Association for the Self-Employed Growth Grants

NASE members can apply for $4,000 grants to finance a specific need, like website creation, equipment, or hiring part-time help. So far the NASE has awarded $650,000 in grants to mover the years. If you are not yet a member to become eligible for these grants simply set yourself up here.

For more on small business grants here are “5 Things to Consider When Applying for Small Business Grants.”

Regardless of which one you choose to enter each of these 2018 small business contests could be a big win!

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