7 Tools to Help You Manage Your Business Finances

Business Finances

Last Updated on June 24, 2024 by Team Experts

Running a company has been our dream since childhood, but it’s not always easy. However, you can use a few tools to make managing one a bit easier. Here are a couple of options if you’d like to improve your company’s business finances processes.

1. GoogleSheets

Nothing is better than free if you’re running a company. For that reason, Google’s online software collection tops many lists.

Since they’ve released everything free of charge, using their tools won’t cost anything. So, if your company has been struggling to stay under budget, this may be helpful.

First, we’d recommend looking at the spreadsheets offered by Google. Since you can track all your expenses, tracking stuff on them can be beneficial.

2. Loan Management Software

Infinity software could help your company manage its cash flow and expenses. So, it’s beneficial for companies involved in lending. Once you’ve typed everything into the system, it’ll track it all for you.

So, if a client hasn’t paid their bill yet this month, you’ll know about it immediately. Then, you can send them a notification reminding them to make a payment. Tracking your outstanding loans is crucial if you’ve lent tons of money to clients.

Otherwise, you’ll have a tough time tracking the company’s revenue. Fortunately, this software simplifies the process, making it incredibly easy.

3. Mint

Visualizing your monthly cash flow is easy if you’re using Mint. Once you’ve connected all your business accounts to it, it’ll visualize everything automatically. Plus, it even has tools to let you parse data quickly.

For example, you can track that specifically if you want to lower monthly expenses. Then, you’ll see how much of a difference your decisions are making, too.

4. Morningstar

Monitoring investments can be even more difficult as a business. But, that doesn’t mean you shouldn’t try to make it happen. That’s why we’ve included this tool since it makes monitoring them easy.

Even though you may purchase a premium subscription, they offer free service. So, look at the tools to see which one makes the most sense. Then, sign up for the service and watch your investments grow online.

5. Microsoft 365

Microsoft may not be the first name that comes to mind when thinking of finance, but they’re essential. If you use spreadsheet software, you can track anything the company spends.

Plus, they’ve included options to track income, putting it all in one package. So, once you’ve set up their software, it’ll handle the rest for you.

You could put stuff on the cloud as well if that made a difference. So, your team would have access from anywhere with an internet connection.

6. Evernote

Writing down everything on paper isn’t how things are done anymore. Instead of jotting things down in a notebook, use an online note-taking app. That way, you can see notes from anywhere with an online connection.

Evernote hasn’t been around for too long, but they’ve grown quite fast. Today, they’re among the most popular note-taking apps, owing to their bountiful features. After learning how to use the app, you’ll wonder why it took so long to start.

Evernote also lets you search for terms if you’ve put them in your notes, making them easy to find.

7. Portfolio Visualizer

If you’d rather monitor your portfolio automatically, this tool may be helpful. Unlike other options, you only have to connect accounts once. Then, after you’ve finished connecting them, you’ll see everything on the screen.

For many people, it’s easier to invest if they can see their portfolio visualized. Since humans are visual creatures, that would make sense from a particular perspective.

That’s why this tool has seen such an explosion in popularity among small businesses, too. Try it out for a few days, and then you can see how it does for your needs.

Managing Your Business Finances With Tools

The right tools can make a huge difference if you’re running a business. For example, you may need some help tracking your monthly expenses. But, tracking them won’t be hard at all with a tool. They’ll populate spreadsheets automatically, meaning you don’t do anything.

Read more: How Using Advanced Tech Services will Benefit your Business

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She has over 7 years of experience writing about technology, education, digital marketing, general and business. Her experience in the tech industry (fieldengineer, wowtechub, techsprohub, techinfobeez) has taught her how to write engaging, informative content that makes complex issues accessible to a wide audience. Follow her on Linkedin

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