Add Functionality to Your Accounting System with Apps
Did you know that you can add apps to help increase the functionality of your core accounting system? The process will save you time and frustration. It is because every business is different that you may—and likely will—need these add-on features that aren’t already included in the accounting system you currently use. That’s where the apps come in: They provide a deeper functionality in the areas you need them. Take a look below at some examples we’ve put together.
- Payroll
Payroll apps help to simplify how you pay your employees. These payroll apps were created to help you implement an easy and automated method of managing payroll and all things HR-related.
Popular payroll options include Intuit’s many options, Gusto, ADP, OnPay, and Patriot. Explore the different features of each app and find which one works best for you and your needs.
- Time Tracking
The best and most accurate way to keep track of an employee’s time is with an app. A wide range of apps can make not only tracking but scheduling your employees’ time simple, too. These apps include:
- ClockShark
- BigTime
- Time Tracker
- TSheets (I use this in my practice)
- And more!
Again, each app will offer different features. For example, most have timers, but only one might offer geofencing, so find the one that’s best for your business. Regardless of which one you choose to use, though, you will quickly discover how much time and energy you save without having to do time tracking manually.
- Receipt Management
Do you have receipts filed in a shoebox? Or are you good at organizing and have them stapled to the invoice and filed away? With a receipt management system, you can import your financial documents, then export them into your accounting software. They are then stored within the receipt software as well as attached to the originating document in your QBO or Xero software. Here are a couple of good apps:
- Hubdoc (the one I use)
- Receipt Bank
- Cash Flow
Dozens of apps exist to help you manage your cash flow as well as get funded:
- CashFlowTool
- Cash Flow Frog
- PayPie
- Chata.ai
- FUndbox
- Blue Vine
- Fundera
- And too many to list
Managing your cash and debt are important areas and ones that are easy to find to help you get quicker answers to your questions.
- Benchmarking Reports
How does your company compare with others in your industry with similar sales volume? A benchmarking reporting app can help you know this information as well as help you know what can be done to grow and improve your financial results. For instance, if your cost of sales is 40% and your competitors is 30%, wouldn’t you want to know how to get your company closer to that 30%? Here’s the app I use.
- More Reporting
Now that it’s 2020, try working smarter, not harder. Add-on features can help! Remember, the examples listed above are just a few apps currently available. Determine what you need for your company to make better decisions, and then look around for the perfect app.
And, if we can help you implement your ideas faster, feel free to reach out to us anytime.
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