Finance and Accounting Tools for High-growth Companies

Manual accounting is not realistic anymore due to the increasing demand of businesses. Growing businesses need financial and accounting tools to help them effectively manage their finances. The tools mentioned below can help in financial planning, filing taxes, and much more.

Let’s take a look at the 7 best accounting and financial tools that are perfect for growing businesses. Using these tools can greatly help in improving and automating the financial management process.

1. Turbo Tax

Turbo tax is one of the most versatile tax submission software in the market. This tax software can help in reporting various types of income including funds earnings, investment earnings, and more. The online tax accounting software also allows reporting gains and losses from crypto investments.

The Use of Tax Software for Efficient Tax Management – (maximliberty.com)

Firms that invest in securities to gain additional income can benefit from the tax reporting software. It can make it easy to report income from investments in the stock market and other securities.

2. YNAB

YNAB is a money management tool that is great for the fund management of growing companies. The money management app can help in budgeting every penny.

An abbreviation of You Need a Budget, YNAB is a must-have tool for budgeting. It will help companies to avoid overspending.

Installation of YNAB is quick. The app supports most major banks. It can automatically configure options based on the type of business.

3. Kissflow

Kissflow is another great tool for organizing your finances. This financial management tool will allow you to create workflows for efficient financial management. The pre-built apps for recording various financial activities.

No training is required to use the financial management app. You can create workflows depending on the exact requirements of the company. High-growth companies can create workflows that exactly meet their requirements.

4. Banktree

Banktree is suitable for growing small and medium-sized enterprises. The platform supports both desktop and mobile devices. It also supports multiple currencies making it great for multinational businesses.

You can set bank balances for various currencies and round them to a single currency. The software is great for tracking income from international businesses. You can scan receipts to enter information regarding sales that can be communicated to the outsource bookkeeping service provider.

The app produces clean and detailed reports. The categories can be organized by payee and time. You can view the reports on both Desktop and mobile devices. The browser-based version allows you to access the app from any device remotely.

5. Money Dashboard

Money Dashboard is yet another great tool for businesses. This free financial tool can be used on Android and iOS devices.

The app is easy to use and configure. You can hook up the app to your credit card or bank account and see the balance on the dashboard.

Money Dashboard will also monitor the spending of your business. It will show spending on consumables, loans, transport, and other information in the form of a pie chart. The dashboard also shows how much money is available across different accounts.

You can compare the present month’s figure to the previous month to find out how your business is managing the funds. The app is safe and secure to use. It boasts bank-grade security for the login that reduces the risk of an online attack.

6. Moneydance

Moneydance is yet another financial management tool that is great for online businesses. This tool has a neat user interface that provides an instant snapshot of the financial position of your company. You can know about recent expenses, pending bills, and other financial-related information.

This money management app has a strong reporting feature. The information entered into the software can be accessed from your iOS device.

7. Buxfer

Buxfer is a great app for business owners to manage personal finances. The basic version of the app is highly affordable and costs just $1.99 per month. You can also subscribe to the Buxfer Plus version which costs $3.99 per month.

One of the best things about this money management app is that it supports strong encryption levels. The app may have thin reporting options, but it offers a secure environment to record and manage various business activities.

Buxfer may not have an attractive user interface. It may also not have advanced personal finance management features. But it wins full marks when it comes to managing large funds of high-worth business owners.

The app has a large user base with over a trillion dollars’ worth of funds. You can use the financial management app to manage your growing funds.

The encryption protocols to secure transaction information are audited regularly to ensure that users receive the highest level of protection. The budgeting tools of the app allow you to efficiently budget your resources.

The app automatically categorizes expenses. But you can also manually specify the categories based on the exact requirements of your business firm.

The free version has basic features such as creating a bill and accounts reminders and setting up to five different  budgets. But you need to subscribe to the Plus version if you want to set unlimited number of budgets. There is also a Pro version with advanced features such as forecasts, online payments, and more.

Conclusion

High net worth and growing companies need to manage their finances efficiently. The accounting and financial tools mentioned in this blog post can help in effectively managing funds.

You must also consider delegating bookkeeping tasks to outsource bookkeeping activities. This will save you a great deal of time and effort so that you can concentrate on expanding your business.

Maxim Liberty is a reliable and trusted outsourced bookkeeping company. We provide professional bookkeeping services to different types of firms. Our experienced accountants can record transactions using the generally accepted accounting principles (GAAP). For more information about our affordable outsourcing accounting services, you can call us by dialing (703) 957-6938.