The life of a small business owner is never boring. There is always something new to do, somewhere new to be, and anything that can be done on the move, will be. So it makes sense that business owners would want to manage their accounts on the go. Mobile phones, tablets and laptops have made working on the go much easier, from checking emails to managing your diary, updating your business social media and even creating and editing documents. These are things many business owners do every day. But did you also know that you can manage your business accounts on the go too? Most accounting software providers have now created mobile apps to match their desktop versions, so you have all the access you need to your accounts. Not convinced? Here are 4 things you can do using a mobile accounting app.
No More Hoarding Receipts
This might be one of the single best things for most business owners when they first switch to cloud accounting software. When you download the app that goes with your accounting package, whether that’s Xero, QuickBooks, FreeAgent or anything else, you will be able to input your receipts at any time. That means no more gathering receipts in your wallet or losing them between the train and the office. And no more spending hours at the end of the year sorting through the box of paperwork you’ve amassed. Instead, you can just take a photo of the receipt, mark it as an expense and that’s it. You can throw the receipt away. HMRC recognises digital receipts as acceptable proof of expenses, so there’s no need to keep piles and piles of receipts.
Invoice And Log Payments On The Go
If you work in the trades, sales, or other professions that require a lot of time on the road, it can be difficult to manage generating invoices in a timely manner. Particularly if you’re on the road for long periods, with little time to sit down at your desk. But with a mobile accounting app, you can generate and send invoices directly from your mobile phone. This means you can generate invoices as soon as your finish a piece of work, or as soon as the deal has been agreed to. Far less time spent on billing, and you’ll be far less likely to forget about sending an invoice.
Bank Reconciliation
Reconciling the bank accounts with the accounting software is one of the tasks a lot of business owners dread at the end of every month. And hey, we don’t blame them. But it’s one of those tasks that is best tackled in little doses, which is what a mobile accounting app does. Because you have access to all the information in the palm of your hand, you can avoid painful backlogs and reconcile your accounts every day with just a few taps. Because the software is linked with to your bank business account, the recent bank transactions will show up on the app your phone, allowing you to run through and create or confirm matches with your accounts over morning coffee. You’ll never fall behind again.
Keep An Eye On Cashflow
Keeping tabs on the money coming in and out of your business is vital. Good cash flow is the key to good business, but sometimes that can be hard to see. Mobile accounting apps help you check your business cash flow whenever you want, with simple dashboards to show you thinks like revenue, expenditure, overdue invoices and payments that are due. No more generating complex reports or having to dig for the information – it’s all right there on your mobile phone screen.
At Rosemary Bookkeeping, we love mobile accounting apps. We encourage our clients to use the apps that match their chosen accounting software, link in to take care of their books and even offer training to help them learn all the tricks they need to get going. If you’re using accounting software but don’t know where to start with the app version, or if you’re thinking of switching to a new software provider, we’d love to help. For your free consultation, just get in touch with us today.
