Are you drowning in financial overwhelm in your business? This roundup of the best finance apps and services will help empower you to take charge of your money, stay organized, and make smart, sustainable financial decisions.
If accounting, numbers, financial plans, invoicing, and taxes makes you go “uggghhhhh!!!!”… you are NOT alone!
One of the most intimidating and stressful parts of creating and managing your own small business is staying on top of the finances. I think this area can be the Achilles’ heel for a lot of entrepreneurs.
Because understanding your numbers, knowing what you should pay yourself, how much to put aside for taxes, staying organized, invoicing, balancing the books, and knowing whether or not you have enough money to hire help are all obviously HUGELY important for any business owner… yet most of us know nothing about even the basic 101 for how to actually do this.
It’s A LOT to think about–especially for most creative and visionary entrepreneurs who just want to serve their audience and don’t want to get bogged down by all the financial tracking, organizing, and decisions that come with the territory of having your own business.
Like it or not, being savvy and having a handle on your money is going to make or break your business, whether you’re a solopreneur or huge company.
This is an area where you MUST get help, hands down, if you want your business to grow in a sustainable way and not come crashing down because you suddenly owe $10K to Uncle Sam (this happened to me in 2018 and I learned my lesson REAL QUICK!) or have more expenses than profit. That’s ALL entrepreneurs’ worst nightmare!
My advice when you’re getting started? Learn the basics so you’re empowered to make financial decisions, but outsource all the nitty-gritty to an accountant and to services that are designed to help.
Here are the five best finance apps and services to make your entrepreneurial life easier!
The Best Finance Apps and Services
From inventory and projects, to payments and people, QuickBooks brings it all together. Get an overall view of your finances, with the ability to zoom in on the details.
With Quickbooks, you get a complete picture of the money you bring in and where it goes. Keep everything in one place by auto-syncing your bank and card transactions, managing budgets and spending, tracking your inventory, and so much more!
If you’re in e-commerce, Quickbooks integrates with third parties like Etsy, Amazon, Woo Commerce, Shopify, Squarespace, eBay, and more to ensure that product listings, orders, and data stay up-to-date.
For just $25/month (or less, as they often have sales!), you can get started with all of these features:
- Track income & expenses
- Capture & organize receipts
- Maximize tax deductions
- Invoice & accept payments
- Track miles
- Manage cash flow
- Run general reports
- Send estimates
- Track sales & sales tax
- Manage 1099 contractors
Do you have a team? If so, I highly recommend Gusto for all your payroll needs!
I use Gusto to manage my payroll because I have three full-time employees, and I myself am on payroll since I’m an S-Corp.
Gusto makes payroll easy by sending payments automatically, calculating and paying your payroll taxes, offering things like 401(k)s, time tracking, and much more–and even integrates with Quickbooks.
Everything is set on auto-pilot so I never have to think about it, and they file everything for you! Talk about a dream.
Quickbooks also offers payroll, but I still prefer Gusto because, unlike Quickbooks, Gusto:
- files 1099s (QuickBooks charges extra fees for this)
- allows you to pay in multiple states (QuickBooks charges extra fees for this)
- allow you to pay international (QuickBooks does not)
- Has available add-ons like 401(k) retirement, 529 college savings, commuter benefits, life and disability, HSA and FSA (QuickBooks doesn’t offer any of this)
- has a direct phone line for dedicated support (which I’ve personally had to use before)
- and more!
You Need a Budget, or YNAB, is an award-winning software and a proven budgeting method. Before you run for the hills at the word ‘budget’, this software is actually designed for people just like you who don’t like budgeting.
YNAB teaches you to give every dollar a job, and allows you to budget for monthly expenses, save for a one-time goal, pay off debts, and so much more. It syncs with your bank and credit cards for seamless integration, and has an app for easy access.
You can even have multiple budgets, meaning you can create one for your business and one for personal to keep all your finances in check.
If you’re familiar with the Profit First system (and if not–I HIGHLY recommend this book–it will change your life!), YNAB makes implementing Profit First super easy.
They also offer free workshops to help you learn the basics on things like creating a budget routine, paying down debt, how to cut spending, and more.
Finding the right bookkeeper who understands online business is crucial! I personally use and love Steadfast Bookkeeping, a team who really gets all the ins and outs of entrepreneurship.
Steadfast is a woman-run company offering full service bookkeeping, audits, catch-up bookkeeping, tax planning and prep, as well as DIY education and resources (coming soon!).
Having a bookkeeper I trust has been such a relief!
RELATED: My Monthly Blog Income Reports
The Millennial Money Podcast
In some ways, talking about money (especially as women) is still taboo in many circles. Fortunately, the Millennial Money Podcast is a place where we can solve all those silly nagging questions that you have about credit cards, debt, building wealth, saving money, starting a business, do I buy life Insurance?, where should I be putting my money?, etc.
The host, my personal friend Shannah Compton Game, has also been in the trenches and has had the same struggles. For years as a Certified Financial Planner Professional, she’s helped people just like you and me untangle the mess of our day-to-day money problems.
The best way to stop fear and overwhelm is to actually take action and get educated. The Millennial Money podcast will help you do just that!
There you have it–our top 5 best financial apps and services for entrepreneurs. Seriously, don’t delay on getting your finances in order–you’re going to feel SO relieved and liberated when you’re not drowning in financial overwhelm!
What are your favorite money apps and services? Leave a comment below to let us know!