You love running a business, but do you love dealing with every aspect of it? Probably not! One area of business that is really important to get right, but that many if us do not exactly relish in handling are the company finances.
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Well, you know what? I have some good news for you – you can hand off the vast majority of work that goes into the company financials to technology. Sound good? Here’s what you need to do to take advantage of technology to manage your company finances:
Use Tech To Manage Your Company Finances
1. Automate the Basics with Accounting Software
If you’re still manually tracking expenses and income, it’s time to stop torturing yourself. There are loads of accounting software options out there that can handle the grunt work for you. QuickBooks, Xero, and FreshBooks are some of the big names in the game.
These tools let you automate the basic accounting tasks, like invoicing, tracking payments, and even paying your bills. The best part? They’re designed to be user-friendly.
You don’t need to have a degree in accounting to get the hang of them. Plus, they’ll free up your time, so you can focus on growing your business instead of just keeping it afloat.
2. Get Real-Time Insights with Sage Intacct
For those of you running a larger operation or looking for something more robust, let me introduce you to Sage Intacct. This is next-level financial management software that goes beyond just basic accounting.
Sage Intacct offers real-time financial insights, giving you a clear picture of your company’s financial health at any moment. What sets Sage Intacct apart is its ability to handle complex financial processes, like multi-entity management and project accounting, with ease.
It’s especially handy if your business is scaling up or if you need more detailed financial reporting. And let’s be honest, having instant access to the numbers you need can make you feel like you’ve got superpowers.
3. Streamline Payroll with Gusto
Payroll is one of those necessary evils that every business has to deal with. Mess it up, and you’ll have some very unhappy employees on your hands. Enter Gusto, a payroll service that makes paying your team a breeze. Gusto handles everything from calculating deductions and taxes to sending out pay stubs and W-2s.
But Gusto isn’t just about payroll. It also helps manage employee benefits, time tracking, and even offers HR tools to keep your team happy and compliant. With Gusto, you can finally stop dreading payday and start enjoying it instead.
4. Simplify Expense Management with Expensify
Keeping track of receipts and reimbursable expenses can feel like chasing a wild goose. That’s where Expensify comes in. This nifty app allows employees to snap photos of their receipts and automatically generate expense reports.
No more shoeboxes full of crumpled receipts or lost paperwork. Expensify integrates with most major accounting software, so you can keep everything streamlined and in one place.
5. Forecast with Precision Using Float
If budgeting and cash flow forecasting give you anxiety, then you’re definitely not the only one, but you know what? Using a great too like Float can help you out and keep your anxiety at bay.
It will simplify your business’ financial projections so you can understand them with ease. How does it do this? Float pulls data directly from your accounting software to give you a visual representation of your cash flow, helping you make better decisions for your business.
Why stress over your company finances when you can let technology do the heavy lifting?
