As a small business owner, you have a lot on your plate. In addition to customer service, sales, managing staff, marketing, and growing your business, you also have to worry about finances, expenses, and tax obligations. So how can you confidently navigate all these aspects?
Accounting apps for small businesses simplify your finances and keep you in control of your income and spending. Apps and software are more reliable than manual accounting and reduce the risk of errors and missed deadlines. When you work with an accountant to choose and maintain your business accounting app, you get even more access to advice, strategy, and insights about your enterprise’s wealth.
Accountor CPA is dedicated to working with the industry’s leading accounting apps for business for our clients across Canada. With the best accounting apps for Android, iPhone, and other mobile devices, we help you take control of your business finances, spend less, and regain your time.
Get a free consultation with Accountor CPA and learn how small business accounting apps on the go can change your business operations for the better.
What Do Accounting Software Apps Do?
Accounting applications for business boast numerous benefits and features to grow your business. But how exactly do accounting software apps work?
Company owners are constantly thinking of ways to improve. Whether it is the customer experience, product quality, staff satisfaction, or profits, there is always something that you can make better. Accounting apps help to make questions about how to improve easier to answer.
How profitable are you? Can you afford to buy new equipment? How soon can you hire another employee? Where are we spending the most money? Can we cut expenses? Are employees productive when they work from home?
A good accounting app for small businesses will answer these questions for you by providing you detailed financial information for specific periods, areas of the business, or even employees at a glance on your mobile device. If you need a more detailed analysis from an accountant, your mobile accounting app keeps all the necessary data on the cloud for your accountant to see. No more scrambles for documents at the end of the year!
Accounting apps work by recording all transactions and tracking different accounting metrics. It can sync with bank accounts, credit accounts, and other relevant financial sources to receive transactional information automatically. The data is then stored in the cloud, making it accessible to you from your mobile device anywhere you wish.
Whether you need a daily accounting app, something to look at weekly, or something for your accountant to keep you apprised of quarterly, your accounting app should work how you need it.
Benefits of Online Accounting Applications for Business
Accounting app programs come with many benefits to business owners, whether you own a small firm, SME, or multinational corporation. So how can an online accounting app help you and improve your business?
Cloud-based and web-based accounting software and assistance give your company the best security and redundancy to keep your financial information safe.
Comprehensive financial management
Because accounting apps are so accessible, you can get more transparent data that is easier to understand from your accountant when needed.
Boost your accuracy
Online accounting apps sync and calculate automatically, leaving less room for user error, bad calculations, or missed documents.
Managed user access
Easily manage which team members have access to what accounting information easily.
Meet deadlines better
Set up push notifications and automatic payments, deposits, and invoicing with the right accounting app.
Whatever level of support you need with your accounting app, we can provide it on any device.
Focus on your business
Manual accounting tasks eat significantly into time that would be better spent on management, sales, marketing, and more.
Make better business decisions
Knowing the status of your finances and cash flow at all times. When an opportunity arises, you know you can take advantage of it without worrying about financial consequences.
All your financial documents are one click away
Accounting apps and software provide access to various of reports and live information at any given time, so you are always in the know.
Home and Personal Accounting Apps Support
Accounting apps for businesses are very similar to those used by individuals and families to track personal spending. Personal accounting apps are growing in popularity to help people budget, cut back on spending, and save more effectively for the future.
While home accounting apps may not need the same robust features as one used for a small business, simple features can make all the difference when planning to plan for your family’s future.
Personal accounting apps can sync with your bank, credit cards, and spreadsheets to help you automatically track your transactions. Then, you can easily share this information with your accountant easily to help you file your taxes at the end of the year, strategize for the future, plan big purchases like homes or vacations, and receive valuable advice about streamlining your finances.
Accountor CPA works with individuals across Canada for accounting services and assistance, tax preparation and filing, and bookkeeping. We can help you plan for your financial future within and outside of your business.
Get Accounting App Support with Accountor CPA Solutions
Even a simple accounting app can come with questions and the need for support to truly take advantage of all the features and analyses they have to offer. At Accountor CPA, we provide several accounting apps and accounting support services to ensure you get the most out of your software.
Our scalable and flexible accounting app services and solutions include:
- Accounting app download and set up for managed users
- Expense tracking
- Receipt documenting
- Generating and sending invoices
- Receiving payments from customers
- Making bill payments
- Reconciling bank and credit statements
- Syncing multiple bank and credit accounts
- Tax document preparation
- Generating financial statements and reports
- Managing integrations
- Managing user access
- Processing payroll
- Overseeing payment processing
- Financial reporting and analysis
- Overseeing and managing software updates and legislation adjustments
- Accounting software support and aid as needed
Importantly, Accountor CPA is a fully remote, virtual accounting firm in Canada. This allows us to more easily offer personalized and scalable services to businesses so that we fit into your busy schedule as an entrepreneur.
Contact us today to get started with a free consultation for accounting app solutions.
Features to Look For in the Best Accounting Application Software
Each business will require different specs and features from its accounting app. Whether it's the number of users with access, the types of integrations, or the price, no two business owners will have identical needs. However, there are many standard features that all businesses can benefit from that one should look for when choosing an accounting app.
Some of the core features your financial accounting app should include are:
- A customizable dashboard to give you a snapshot of your finances at any given time
- Bank and credit card integration and live feed
- Online invoice generation and automatic issuing
- Recurring invoices
- Automatic bill payments (or reminders) for recurring expenses
- Bank and credit automatic reconciliation
- Compatibility with all your mobile devices, whether Android, iPhone, or iPad
- Financial reporting options
- Boosted security
- Inventory management
- Project management
- Expense tracking and/or receipt imaging
- Flexible integration with other apps and software
- Customized support and enhanced assistance as needed
The industry’s top accounting apps should boast these core features. These are essential for data collection to ensure that you and your accountant have a clear financial health overview and can make business decisions that align with your cash flow.
Top Online Accounting Apps
At Accountor CPA, we work with the best accounting apps for businesses in Canada. We stay apprised of the latest tech and software to ensure that our clients work with apps that are easy to use, provide the leading functions, and keep their business fully compliant with federal legislation.
What are some of the industry’s best accounting apps for Android and iPhone?
- Wave accounting app
- Xero accounting app
- QuickBooks Online
- Sage 50
Not sure which financial accounting app is right for you and your business? Accountor CPA can provide the assistance you need.
Spotlight: Wave Accounting App
Wave is a great accounting app that caters to larger businesses or businesses with multiple locations or offices. Its robust features allow you to see clear snapshots of your business’ financial health at any moment while on the go. It provides double-entry accounting, one of businesses' most widely-used accounting systems.
One of the biggest advantages of Wave is its price. It has free versions if you only need rudimentary features, but its paid features (for payroll and accepting payments) are also lower than some of its competitors.
Wave could be your solution if you need a basic, free accounting app for a freelance business or personal use. However, you may need to upgrade to paid versions or a different accounting app as your business and expenses grow.
Spotlight: Xero Accounting App
Xero is perhaps the most simple online accounting app that caters to small businesses in Canada. Its dashboard is fully customizable and very user-friendly, allowing you to easily get a snapshot of your cash flow, bills, and invoices easily.
One of the greatest benefits of the Xero accounting app is its massive integration capabilities. It integrates with a numerous third-party apps and programs, including Stripe, Paypal, Wagepoint payroll, Deputy time-tracking, Receipt Bank, and many, many more. This means you can customize your accounting apps to include all the functions necessary to run your business.
Xero also provides excellent scalability for growing businesses. You can easily add and manage new users so that as your business grows, so do your mobile accounting app capabilities.
Work With the Best Accounting Apps for Small Businesses
We offer accounting applications as part of our accounting services and support to keep you in control of your finances every step of the way. We are dedicated to ensuring you and your team work with an app that suits your needs and helps you do your job smoothly.
Contact Accountor CPA for a free consultation about our accounting app solutions. Let us handle your accounting while you focus on what matters most - your business.
FAQ About Accounting Apps & Software
Get answers to our most commonly asked questions about business and personal accounting apps.
What is the cost of small business accounting apps?
Accounting apps vary by features and functions, so the cost of accounting apps will also differ significantly. For example, some home accounting applications charge only a few dollars per month, for example, while professional business accounting apps can cost a few hundred dollars for annual licensing rates.
Most importantly. your accounting app should not break the bank or cause you to overspend on a budget. With so many options available, your accountant can find the right small business accounting app for you, no matter the cost or budget.
Are there free accounting apps?
There are free accounting apps available with varying features. Most, such as the Wave accounting app, come with basic features and have options to upgrade to an affordable, paid version should you need more advanced functions. Many low-cost, inexpensive accounting apps on the market that may be better suited to your needs. Free accounting apps may only provide some of the functionalities you need to run your business and track your finances.
How can I find the most simple accounting app?
With so many options, finding an easy accounting app that you and your employees will regularly use can be challenging. First, determine the functions that you need your app to have. Second, calculate your budget to ensure your app alligns with it. Third, work with an accountant to advise which software app or program will greatly benefit your business. It may take some trial and experimentation before you settle on the perfect accounting app for your business.
Can I manage my business accounting app on my own?
Depending on your business operations and financial structure, you may be able to manage your day-to-day business accounting app by yourself. However, regarding expense tracking, tax preparation, financial statements, and compliance, you must work with a qualified accountant to ensure you follow the correct regulations and legislation.
Start your accounting on the right foot by working with a CPA (Chartered Professional Accountant) from the beginning.