3 minutes reading time (695 words)

7 Small Business Apps That Will Transform Businesses

 

Cloud accounting and business apps empower businesses and put more control and insights in their hands

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.

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

Receipt Bank (RB)

This app saves a ton of time and indirectly makes you the best record keeper as you take pictures of your receipts or email them to your unique receipt bank 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 RB by scanning them. This saved him hours of time. Our staff configured the RB and in a matter of minutes all were uploaded to QBO, saving even more time and money. Better year, RB 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

Dropbox

This is one of my favorites, all our client’s data are saved on this app. We can easily go to client’s folders and find any documents that was previously saved. For instance, one of our clients in Victoria BC was looking for his GST election since CRA was asking for it. Instantly we identified and submit through CRA portal.  Not only we saved time, we also saved paper. Speaking on that, since we have used Dropbox, we have not printed any tax return neither for CRA or clients.

They were all produced in PDF format, even authorization slips. Another great feature that I really like is transferring files. For example, your mortgage broker wants a copy of your T1 General or tax return, we just simply click on the file or files and use file transfer. This is super secure, and the transfer will expire in couple of days if not downloaded.

I still see clients transfer sensitive documents such as tax return through email, if this gets hacked it will be disastrous.

Benefits

1.   Secure file sharing

2.   Cloud storage

3.   Instant document signature

4.   Back up

5.   Secure file transfer

Slack

Another favourite app that we use everyday. I have nothing against email however, if you are 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 needed to be taken, what has been accomplished and so on.

Benefits

1.   Better communication with team

2.   Communication trail

3.   Communication per channel/clients

4.   Sharing documents

T-Sheets

Super software app, it keeps track of employees even through GPS.

Benefits

1.   Keep track of employee hours

2.   Keep track of hours per projects

3.   Keep track of employee time and location

4.   More effective way of adding employee hours

5.   More effective way of scheduling

Fathom

Great reporting related app. If you like data and analysis and make decisions based on those which every business owner r CFO should, this is your best tool.

Benefits

1.   Track business performance at a glance

2.   Obtain comprehensive financial intelligence

3.   Obtain Performance reporting

4.   Great data analysis

Hubdoc

Similar to RB.

1.   Save time

2.   Improve accuracy of uploading receipts

3.   Audit Trail

4.   Connects with QBO

5.   Record keeping

6.   Cloud Storage

7.   Great bank statements Fetch

 

Running all these apps are amazing specially if you have embraced cloud accounting. If you haven’t we need to talk – seriously. If you like transforming your business read this.

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Saturday, 10 December 2022

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