Reading Time: 5 minutes
No matter how prosperous business is, managing the finances of a company is a struggle for every business. This blog has curated a list of the best finance management apps for businesses to turn your struggles into success.
As per Statista, 17% of Americans used at least one stand-alone budgeting app for their personal use in 2018. If an individual needs to have at least one budgeting app to live a well-organized life, then businesses, which operate with more people, should prioritize a way to efficiently manage their finances.
We all know that handling your business’s finance is not a walk in the park. However, a money management app can simplify this complicated process. There are a plethora of apps for finance management that efficiently track your resources. All you need to do is to choose the best apps from all to save time and money.
Top 7 Best Money Management Apps for Businesses
Mint tracks all your expenses accurately and generates a weekly report of them, gives you strategies to cut costs and more. It is widely considered one of the best finance management websites and apps, available on the Web, iOS, and Android. Mint allows you to connect all your bank accounts, credit cards, monthly bills, and many other things to keep track of all your finances at one convenient place.
Mint also keeps you updated about your due payments and what you can afford based on your availability of funds. For example, it alerts you when your balance falls to a certain level. Mint also offers access to your investment accounts in addition to budgeting tools.
Key Features of Mint
- It sends financial summaries and alerts via email or text message.
- It automatically downloads transactions from any financial institution in the US.
- It is a flexible tool for money management with the allowance of experimenting with different scenarios.
- It provides bank-level data security aggregation.
- Its advanced feature sends an alert to let you know if there is any unusual activity.
YNAB (You Need a Budget)
You Need a Budget (YNAB) is different from other apps for finance management and is available on the Web, iOS, and Android. YNAB allows you to determine an appropriate budget for you. Its built-in accountability partner feature helps you make sure that you are sticking to the budget that you set. Just one month of YNAB can help pay off most of your debts which will let you spend your money how you want to spend it, instead of using it for interest payments.YNAB also offers bank syncing and support for mobile devices and lets you set financial goals so that you make the most of each dollar you earn. You Need a Budget (YNAB) is a phenomenal tool for those who set a budget and stick to it. It gives you a clear report of where your money is going.
Key Features of YNAB (You Need a Budget)
- Its four rules feature helps you easily plan your budget.
- It lets you access the real-time information from any device, anytime.
- It prioritizes data security so it encrypts the data stored on its servers.
- It allows you to set up budgets for particular projects in addition to the weekly and monthly budgets that you can create.
Acorns is an automated saving tool that rounds up your purchases on linked debit or credit cards; then, it sweeps the change into a computer-managed investment portfolio. It also has a new shopping app type function called Found Money. The brand partners invest in your Acorns account when you shop with a specific brand.
With Acorns, you have the option of transferring your change into an investment portfolio, either automatically or manually. It is also known for speaking well to new investors through Grow Magazine. Acorn is an online finance site geared towards entrepreneurs, available on the Web, iOS, and Android as well.
Key Features of Acorns
- Invest your savings automatically.
- The app and Web site are well encrypted and have features such as automatic logout, IDs, and other security measures.
- It is accessible on your mobile phone and the web.
Spendee is a financial management mobile app that syncs with your bank accounts and is available on the Web, iOS, and Android. The best part of this app is, it automatically downloads transactions and categorizes them accordingly. It is regarded as one of the best budgeting and expense tracking apps with a heavy focus on app design.
Spendee has a distinctive feature of travel mode that supports multiple currencies. It is a well considerable app that does a fair job of tracking your cash flow and understanding your financial events, habits, and trends while using smart budgets.
Key Features of Spendee
- It uses your preferences, opinions, and behavior to improve your experience.
- It supports multiple currencies, budget sharing, spending alerts, and many other things that make Spendee the preferred financial management assistant for anyone.
- It allows you to access new insights not only with numbers but with a clear context.
You may also like to read: Best Free Sports Streaming Apps for iOS and Android Platforms
Wally is essential when it comes to tracking your business expenses, and is especially helpful with your professional expense reports. It is available on the web and iOS. Being one of the clean, streamlined, and easy to use money management apps, it is an excellent choice for those who like more insights about their expenses.It lets you know how much money you have, and how much is left in your budget. It can also scan receipts so you don’t have to manually enter your expenses.
Key Features of Wally
- It allows you to take a picture of your receipts instead of manually entering numbers. Less typing equals fewer, fat-fingered errors.
- It allows you to manage all of your accounts, spending, and budget in one place.
- Its concise insights help you establish a plan to improve your finances.
- It has the option of joint accounts, shared payments, and group budgets.
Dollarbird is an ideal financial management app, available on the Web, iOS, and Android, that helps you make your payments on time. It puts your budget into a calendar form so you can easily view your upcoming expenses. Additionally, the app lets you see your projected balance, so you know how much money you can spend and still stay within your budget. Also, the UX/UI of this app makes it easy for you to add transactions manually. If you want a macro-level view of your financial situation, Dollarbird is for you.
Key Features of Dollarbird
- Its simple calendar-based interface lets you keep track of upcoming expenses, add additional future expenses, and easily visualize your month’s expenditures.
- It has advanced AI that learns over time and makes categorization easier.
- It gives you the option to collaborate with your partner, family, or team to manage your finances.
- It stores your data in the cloud and is available on all your devices regardless of the platform you’re using.
Square is one of the best financial management apps for businesses on the go because it allows you to complete all of your sales right on your phone or tablet. It is available on the Web, iOS, and Android.
Square is one of the most trustworthy apps for mobile credit card transactions. To do traditional processing over significant savings, you don’t need a merchant account. Also, it gives you a daily sales report for everything. Besides, it also provides Point-Of-Sale (POS) solutions to businesses.
Key Features of Square
- It is a simple yet powerful app and can create paperless transactions, generate intelligence reports, among many other capabilities.
- It is compatible with Point-Of-Sale (POS) hardware.
- It has the feature of team members log in with email as well as team passcode access.
Financial management apps for business offer you the chance to understand your finances comprehensively and improve your money management skills. From the list mentioned above of money management apps, find the right one for your business.
We would love to hear your comments relating to the post. Got some other thoughts? Drop us words through our contact page.