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Apps for your business

Green ledger sheets, calculator, rolodex. If you look at them with a dose of melancholia, try to let go your sentiments. To keep up with the world as a small business owner, you have to have an online presence, use social media and be able to do almost everything from your computer or phone. In the world of accounting and bookkeeping, the same is true. There are new tools available that will make you more productive and better organized. Let’s look at some of the hot gadgets and how you can make them work for you.

1. Quick Books online - Business owners have been using Quick Books or similar accounting software for years. However, the online edition of Quick Books has been gaining popularity only in recent years. This is a cloud based application that allows you to download all bank and credit card transactions and share your file with your bookkeeper, accountant and others in a seamless fashion. It is accessible from anywhere and anytime. You just have to come to terms with the fact that your accounting data is online.

2. Documents and expense management apps - If you struggle with paper management and find yourself frustrated with heaps of bills that are stored in different places and formats, you will find solace in these apps. They allow you to automatically forward your recurring as well as onetime bills to one central storage. Never lose a receipt! Snap receipt photos and categorize expenses to be ready for tax time. Examples: HubDoc, Receipt Bank, LedgerDocs, Auto Entry, Expensify

3. Collecting invoices and making payments - Once you set up your customers and vendors in your system, your receipts and payments are automated. You can set up recurring transactions or select individual ones for processing, and the app will facilitate transfer of funds to and from your account. Examples: Plooto, WayPay, Jobber

4. Time tracking apps – If you have employees who log their time, these applications allow you to track hours worked by date, employee, or project. All employees can use the system simultaneously and you can see their progress live throughout the day. The data can be then integrated with your payroll system. For travelling employees, you can even see their current location. Examples: T-Sheets, eBillity, Time Rewards

5. Contact management – You can run your business from anywhere, send professional looking invoices and estimates, consolidate your customer history and accounting data. Your database and your accounting software can be integrated therefore eliminating need for unnecessary updates and duplicate entries. Examples: Method:CRM, Jobber, Quick Books Online Mobile

6. Point of sale – Your mobile point of sale tool accepts all debit and credit cards. It automatically records each transaction as sale and posts it to Quick Books online. Some apps will close your open invoices and some will also adjust your inventory. Examples: Dream Payments, Square, Stripe, Quick Books Online Mobile

All of the above apps link to Quick Books online and some also work with desktop version of accounting software. Not only you can be more productive by using these tools, but also your customers may expect you to be integrated with their system through those applications. It is a new and evolving sector in the industry that can offer a lot of advantages to early adopters.

Eva Kupiec, Chartered Professional Accountant and
Beata Kurpiewski, Chartered Professional Accountant
operate their practices at 3461 Lake Shore Blvd. W. in Toronto