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How to Jumpstart Your Business with the Right Financial Management Tools

How to Jumpstart Your Business with the Right Financial Management Tools

Starting up a business as an entrepreneur is usually not an easy thing to do. There are a number of things which you have to put into place, and a lot of factors to consider. Without proper planning, things can go awfully wrong. One aspect that is probably the most important of all is the financial aspect of the business. You are investing your money into a startup, how do you intend to make it back? How would you make your profit? What are those things you will have to do? How would you properly manage your finance? What tools do you need?

There are too many questions to be asked about the financial aspect of your startup. But when it comes to finding the right financial management tools for your business, there is an abundance of answers. Here are a few financial management tools to help you jumpstart your business. 

Wave 

Wave is a financial tool that helps you to account for the revenues that you generate and the purchases you have made for your startup. This free accounting software helps you with receipt scanning, invoice management and expense tracking features to ensure that the finances of your business or startup are well managed. This financial tool acts like a proofreading tool for essay writers, and with it, you can save yourself some time and much more save costs from hiring an accountant for your startup while you try to grow your business from scratch. It allows you to take up your financial matters by yourself and manage your finance to the most minute detail. With over 2 million users worldwide already including contractors, consultants, SMBs and freelancers, you can’t go wrong with this tool. 

InDinero 

InDinero is a budget tool and is very useful for breaking your expenses down into different categories with the information that it gets from your account details. This tool comprehensively generates all the finances of your startup and shows them to you in a web browser dashboard that is both easy to read and very attractive. 

KashFlow 

The purpose and use of this tool are to simplify bookkeeping and accounting for startups and small businesses. You can use this tool irrespective of how much experience you have and other applications that you use such as PayPal. Most of the features that have been built into this tool were added because users requested it. So, you can be sure that you’ll be getting a financial management tool that has everything that you need, that startups and small businesses before yours have used and have become successful with. 

Freshbooks 

This finance tool would resonate well with people that are tech-savvy or are used to computing with the cloud. It is basically a time tracking service and an online invoicing tool that makes your startup already appear professional like the bigger brands and also helps you to save time. With this cloud-based accounting software, you can run your business in the cloud, track time and also invoice your clients. 

Mint 

Mint is, without a doubt, one of the best management tools to help you manage your funds. With a similar interface to YouTube, this amazing software allows you to gather all your financial accounts online, categorizes all your transactions, helps you to create a budget for yourself and achieve the financial saving goals you set for yourself and your startup. Whether through the web or on your phone, you have access to your transaction details and balances. 

Intacct 

This financial management tool is made categorically for SMBs. So, you should be looking to take advantage of its features for your startup. Features of the Intacct tool include vendor management, inventory, revenue recognition, financial consolidations, financial reporting applications, contract management, purchasing, and accounting. This system is also popular for their excellent customer service rating, with 90% of their users also recommending it to other people. 

QuickBooks 

QuickBooks is another very popular financial management tool for small businesses and startups. This tool makes accounting very easy. All accounting tasks that would normally be a cause of the problem for you are worked out very easily with this tool. As it is, you no longer have to worry about making invoices and other accounting tasks that might be problematic for you. It also has a very friendly interface that is also very easy to use and allows you to attach notes to/about your customers, transactions, invoices, and estimates. 

AceMoney 

 AceMoney is another example of a very good financial management tool especially in the hands of first-time users, and you can be sure that with this tool you have what you need basically to run the finances of your startup. This personal financial tool comes with a number of important features and navigation is very easy on this software. With AceMoney, you can view your current flow of cash, your spending habit, and it also allows you to oversee your mortgage.  

Xero 

This is another financial management software that is based on the cloud and is probably the simplest and cleanest financial accounting tool. Some of the access that you have with this tool and the features which it offers are sending an invoice, recording receipts, creating expense claims, and reconciling your finances. Like much other financial software, it also has a simple and easy to use interface. 

Conclusion

Without a doubt, it is not an easy job to build a startup from scratch into a large brand. But if you are going to have any success in trying to achieve this goal, you need to ensure that you are in control of your business, especially at the early stage. The best way to do this is to leverage financial management tools to help you do your accounting, keep your financial records and make the best financial decisions.  

Author’s bio 

Michael Gorman is a highly skilled freelance writer and proofreader from the UK who currently works at college essay writers, best essay writing service and other dissertation services. Being interested in everyday development, he writes various blog posts and discovers new aspects of human existence every day. Feel free to contact him via Facebook or check his Twitter.

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