While you are responsible for every facet of your growing business, your money is your top priority. With this in mind, we wanted to talk about some effective tools to assist you in all phases of your business, from tracking your expenses to making sales:
Tracking finances is important for tax purposes, for planning, and growth. Most entrepreneurs rely on Excel with spreadsheets and templates that show monthly, quarterly, and yearly gross and net income, after expenses. You can also get PlanGuru to help you with your business forecasting, along with budgeting.
Expenses and Billing
QuickBooks is the “go-to” accounting software for small businesses. It does invoicing, expense tracking, and can automate billing too. It integrates easily with many tax systems, making it easier to do your taxes at the end of the year.
There are two in this category that deserve mention: PayPal and Square. Square allows you to take credit card payments at the point of sale, like when you are doing repairs at someone’s home or at a flea market selling items. They provide a card reader that hooks into your smartphone. PayPal allows you to take credit cards on your online website too. The more payment gateways, the easier it is for customers to pay.
If you’re selling online, then you need a shopping cart or system that allows you to update inventory and track and manage it too. Shopify is a monthly service that you can subscribe to that starts at $29 per month. WooCommerce integrates easily with WordPress-based websites and can handle shipping, taxes, products with multiple attributes, subscriptions, and much more. You can even sell on social networks, like Pinterest and Facebook.
Create a System for Selling
These tools should allow you to create a system that tracks inventory, expenses, income, employees, and gives you a good idea of what to do to grow your business. By creating a system that helps you budget and sell, you can give yourself more time to focus on other parts of your business.