There’s an app for everything, and finding the exact right one for your specific needs can be a time-consuming challenge. If you’re looking for the perfect filter to make your vacation photos pop, then maybe you can afford the time. But if you’re a small business owner that needs a quality business budget app to help keep your finances organized, then you know time is money, and it can’t be wasted. So on that note, here are some of the best budget apps for business so you can cash in on what matters most!
Good business budget apps will have a few essential features, and Mint has them all for free. Mint tracks your earnings and categorizes your expenses so you can easily monitor profits and always know how much you have to spend. It also accounts for savings goals, net worth, and investments, helping you build detailed and strategic monthly budgets. In addition, you can connect your bank accounts or credits cards and stay up to date with alerts that notify you about upcoming bills, unusual spending, and going over budget. When it comes to budgeting 101, Mint has it in the bank.
GoodBudget calls itself “a virtual update on your grandma’s envelope system” and makes effective budgeting simple and customizable. Designed for personal budgeting but very helpful for small businesses and freelancers, GoodBudget is another free app covering all the essentials. The envelope system is a category-based approach that focuses on allocating spending for a crystal-clear view of expenses. For a $6 per month upgrade, you can have unlimited envelopes and add multiple households, making it easy to manage diverse needs. Plus, it’s grandma-approved!
Most people know Square as a point of sale (POS) app allowing people to swipe and tap their way to purchases on phones and tablets everywhere. Being POS-focused makes Square an ideal choice for those in goods-based services. Although this is not a traditional budgeting app, Square can do a lot more than take payments—offering a few extra features that strictly budgeting-focused apps don’t have. With a comprehensive slew of tools and reports, the Square app lets you quickly track and monitor sales, manage inventory, and for an upgrade fee, even handles payroll. This may leave some of the budgeting work for you to do on your own but makes up for that with a wide range of useful tools.
YNAB is much more than a simple budgeting app. While they certainly have all the cash flow and expense tracking features that make a business budget app effective, they take a proactive approach toward making goals and sticking with them. This makes it an ideal choice for businesses looking for highly detailed budgets or those working their way out of debt. YNAB is all about looking ahead. Instead of reviewing your spending at the end of the month, YNAB helps you identify priorities and budgets in advance, making sure every one of your dollars works as hard for you as you did for it.
Quickbooks is the major-leagues when it comes to budgeting and may even be the MVP. If there is a report, a tool, or a service you want, Quickbooks is sure to have it. In addition to all your budgeting needs, and depending on the plan you choose, Quickbooks offers all the essentials plus invoicing capabilities, inventory management, time tracking, and a point of sale app. Not only that, but Quickbooks is scalable, meaning you can get more in-depth and exhaustive financial assistance as your business grows and your financial needs develop.
Budget Straight to the Bank
For small business owners, a good budget is an indispensable tool for financial stability and growth. So whether you need some simple help staying organized and accountable or are looking for detailed analysis, there is a business budget app for you. Alternatively, you can always seek out the help of a financial consultant at Ndiwano for a more in-depth dive into your business finances.