Five Apps That Put Your Business on Your Fingertips

Accounting industry has benefited so much from the technology boom. Accounting and running a small business now adays have improved exponentially. It wasn’t long ago that some colleges and university were talking about “general Ledgers” “Books” and so on. Basically, accounting hadn’t changed in a long time.

Now, I am pleasantly surprised when I see new apps are emerging that changing accounting and making it so much more efficient and effective to run a business.

Business on your fingertips – literally

Number one app spot belongs to QuickBooks Online.

QuickBooks Online (QBO) This app will empower you to run your business even better, save time, your money, and your business. According to Intuit, over 98% of customers agree that QuickBooks helps them run their business more easily. QBO acts like a hub which other apps can be attached to it and making it and your business so much more powerful.  This app enables you to also connect it to your bank and credit card. Once this is done data will flow through it instantly. Once this is done, reports can be produced so you can see how your business is doing. Speaking of reports, they can also be customized, you can choose a favorite report, perform analysis and much more. You can make decisions and see trends right away. One of the features that I like is running comparisons either year-by-year or quarter by quarter. I don’t think that you have to be a geek to appreciate this. If you are serious entrepreneur, you will know how valuable this is. I don’t think even the Chief Financial Officer (CFO) of Coca Cola or IBM had this instant data10 years ago. Benefits 1.   Instant backup 2.   Access to data from anywhere any time 3.   Instant score card and reports 4.   Collaborate with partners 5.   Improve cashflow 6.   Receipt Management 7.   Up-to-date Software   Number 2 App, Dext This app saves a ton of bookkeeping time and indirectly makes you the best record keeper. As you take pictures of your receipts or email them to your unique Dext email. The built in OCT technology, reads the data such as supplier name, invoice number, invoice data, costs, taxes, methods of payment and submit them if connected to QBO. One of our Numetrica clients submitted over 1,300 receipts to Dext by having his kid scanning them in a few minutes. This saved him hours of time. Our staff configured his Dext account and in a matter of minutes all of the receipts were uploaded (published) in to QBO, saving even more time and money. Better yet, Dext saves the electronic receipts for 10 years. In case CRA is asking for any of those receipts we can identify them again in minutes. This again saves time. Time saved is money earned – tax free. Benefits to business 1.   Save time 2.   Improve accuracy of uploading receipts 3.   Audit Trail 4.   Connects with QBO 5.   Record keeping 6.   Cloud Storage   Number 3 App is Dropbox This is one of my favorites, all our client’s data are saved on this app. We can easily go to any client’s folders and find any documents that was previously saved. For instance, one of our clients in Number 4 App is Slack Another favourite app that we use everyday. I have nothing against email however, if you have 100s of clients and send numerous emails, good luck finding a specific information in those emails. Through slack, channels are created, this could be clients name and communication about that clients are conducted in that channel.  You can easily see what actions needs to be taken, what has been accomplished and so on. It is so great in case an employee has left, the new employee in charge of the file can see the whole documented history. .css-j9qmi7{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;font-weight:700;margin-bottom:1rem;margin-top:2.8rem;width:100%;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:start;justify-content:start;padding-left:5rem;}@media only screen and (max-width: 599px){.css-j9qmi7{padding-left:0;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;}}.css-j9qmi7 svg{fill:#27292D;}.css-j9qmi7 .eagfbvw0{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;color:#27292D;}