Life as an entrepreneur means paying close attention to your business finances. It’s likely that you are already working towards several financial goals. Whether it’s saving money, boosting profits, or improving your accounting solutions, these six tools and tips will help you to boost your financial health.
Tools For Your Business Finances
Sunrise is a type of business accounting software offering plenty of automated accounting features. With Sunrise, your business can make invoices and access a simple solution to organize your expenses. The software allows you to take payments using several different channels and includes multiple currency support. A few of the other features include auto-categorization, branded invoices, receipts import, and budgeting.
2 . KashFlow
KashFlow is a top accounting app, ideal for small to medium-sized companies. The KashFlow tool was designed to provide jargon and hassle-free accounting. Companies can use Kashflow to manage payroll and track all of their expenses. A few of the top best features include CIS accounting, business reports, and auto credit control. With this software, you can create the perfect budget to keep your business financially healthy. If you’re looking to save money and work towards your financial goals, KashFlow is the app that you need.
3. Zoho Books
Zoho Books was created to help businesses stay on top of their cash flow and improve their financial situation. With Zoho Books, your company can access inventory management features, time tracking, balance sheets, and more. With this software, you can link your accounting systems with your CRM; all you have to do is download the Zoho CRM platform.
Tips For Your Business Finances
4. Business Insurance
To protect your company, both legally and financially, you’ll need to get business insurance. Business insurance helps protect companies from financial losses, particularly if your company is faced with a compensation claim. There are usually various cover types, including public liability insurance, employers liability insurance, or professional indemnity insurance. You’ll need insurance to protect your company against legal fees, damage, theft, accidents, or other professional mishaps. For an excellent business insurance provider take a look at Simply Business.
5. Improve Your Budgeting
One dead simple way to improve your business finances is to take the opportunity to rework your budget. Go through your expenses in detail, look for any unnecessary expenses, cheaper suppliers, or opportunities to go greener. Set yourself a few financial goals to save money, whether it’s through DIY marketing or taking advantage of free software. Once you get on top of your finances you’ll begin to add value to your business.
6. Apply For Funding
Need a little financial boost? Why not check out a few of the grants for small businesses and startups? For a few ideas to get started, check out these options:
- Small Business Innovation Research Program: The SBIR scheme provides small businesses with the opportunity to conduct research and development activities for federal projects. The SBIR grant is usually awarded to companies with a focus on high tech innovations.
Nav’s 10,000 Business Grant: Nav provides a grant of $10,000, and these grants are allocated every quarter. There are no set requirements to apply; simply write a creative social media post about what your biz would use the money for!