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Financial Management Apps You Need to Check Out

3 September, 2020 Business


In this modern-day and age, there are already several technological innovations that streamline several processes through automation. For instance, in any business, the use of financial management apps enable efficient cash flow monitoring, as well as billing and invoicing. Individuals can also leverage on these financial management apps to manage their investment portfolio or even their day-to-day budget. In line with this, below are some of the financial management apps that you need to check out.

Financial Planning Software

One of the financial management apps that you need to check out is financial planning software. With these apps, you will have the capability to simplify your online banking into a consolidated login location. Most financial planning apps also feature a notification system that sends out reminders about your payment deadlines. The best ones even help you find ways to get out of your debt while assisting you to build on your savings and investments.

Expenses Management

An expense management app is usually utilized by businesses to keep track of the amount of money they spend on their overhead costs. It is often the case that an expense tracker app comes with a reporting feature that will allow you to have a good insight into your expenses in an instant. The data used to generate these reports come from the automatically recorded information about the expenses that the business incurred.

Tax Management

Tax management apps are great to aid you in a seamless filing of your tax dues. More often than not, these apps come with an expense tracker that monitors your purchases for any write-offs that you may have missed. When the tax time comes, you can file directly through the app or simply export your details for direct filing. Tax management apps are perfect for freelancers because these can act as their bookkeeper.

Investment Management

Investment management apps will help you track and sort out your investment accounts to maintain your portfolio. Some consolidate your information into a single dashboard that will provide you with a real-time view of your assets, such as your stock investments or mutual funds, to name a few. Some of the best investment management apps even provide a regular summary of your account performance, as well as any news that may have an impact on your portfolio. Because of this, you will be able to optimize your returns and even consider automated investing.

Cash Flow Software

A cash flow software will help you manage your incoming and outgoing funds, allowing you to develop a strategy on how you will be able to maintain positive cash flow. These apps can also help you forecast your future cash flow based on your historical financial data. More often than not, these apps are used in conjunction with budgeting and forecasting software, as well as the invoice management software. A cash flow management software proves to be beneficial for businesses with several suppliers, projects, as well as payment categories.

Billing and Invoicing

Billing and invoicing apps pave the way for businesses to automate the process of producing invoices and receiving payments from their clients and customers. Freelancers can also leverage this app to ensure that they are receiving a complete payment on time. Some of these apps come with unlimited free quotes, while others support online payment gateways as well. Some even come with a time tracking feature shown in an interactive dashboard that makes it easy for you to have a good idea about your billing and invoicing status.

Payroll Software

Payroll software is essential even for small businesses to ensure that they pay their staff diligently on time. With this app, payroll processes such as payment calculations, withholding tax deductions, as well as benefit computations are automated. Some can even be integrated with banks or other payment gateways to ensure that the money is timely deposited into the accounts of your staff. Compared to a paper-based system, the payroll system becomes more efficient with payroll software.

 

 

In conclusion, leverage on technological innovations such as financial management apps to streamline how you handle your finances, regardless of whether you intend to use it for personal purposes or your business. For sure, you will be able to find the app that you need to suit a particular purpose, such as tracking your expenses, making sure your taxes are paid, or managing your investments. Rest assured that it will take you no time to learn how you will be able to use these apps to your advantage because, more often than not, these are intuitive and easy to understand.

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