When you decided to start your own business, you might not have thought about the stack of invoices to be created and the endless set of numbers to be tackled. That might be the reason why managing finances and cashflow is one of the top fears of business owners.
The smart way to overcome this fear as a solopreneur is to automate finance tasks. This will give you time to focus on the execution part of your small business and work on what you’re truly passionate about.
Here are 5 financial apps that will help you run your small business by managing your personal finances as a solopreneur.
Does bookkeeping seem like a boring and difficult task? Get the Freshbooks app, an accounting software for businesses. It comes with features to make invoicing and expense tracking much easier.
An interesting feature in Freshbooks is the finance report feature. You can view reports on your dashboard and clearly understand profitability, cash flow, and where your money is going. Freshbooks also integrates with over 100 apps like Gmail and Dropbox, making it easier to sync all your invoices and finances in one place.
You get a free 30 day trial on Freshbooks once you sign up. Plans start from ₹560 a month.
GST can be a tough nut to crack as a small business owner. Vyaparapp is a simple GST billing app that makes it easy to create bills and share it with customers online. You get to choose from different formats to create a professional invoice and get it GST compliant. All this can be done in just a few minutes.
Vyaparapp can also automate GST filing and create GST reports. This lets you do error-free accounting for your business and save time. Basic pricing plan for this app starts at ₹ 599 per year.
TaxBuddy is an app that helps in ITR filing and maximising savings. The process is handled by expert CAs and gives you guidance in each step of the process. All you need to do is upload invoices and other finance documents to the app.
TaxBuddy has a good rating on Playstore and is trusted by many to file tax returns. If you want guidance in tax planning for your small business and don’t have the budget to hire a CA, Taxbuddy is a must-have app.
Paid plans start from ₹499 a year. Plans are based on the income you have.
Zybra is a free GST accounting app built especially for MSMEs. It’s an easy-to-use app to streamline your finances. You can create customised invoices, track revenue, SMS reminders for pending payments, and get detailed finance reports — all under one platform.
You can file GST Return from the app directly, making it a one-in-all platform for business finances. If you use Instamojo online store platform, you can access Zybra on the app store and integrate it with your store.
SALT is a financial planning and investment app that helps you make better financial decisions. Built by women for women, the app aims to bridge the gap between women and money. The SALT App stands out from other finance apps because it starts from the psychology of money before moving into actions — understanding a person’s money psyche, their money feelings, and money habits. In short, SALT app helps you configure your finances and bring intuition into money decisions, with the help of technology.
You can sign up for their waitlist and also explore their social media page to get real money advice.
We recently conducted a free webinar with the team members of the SALT app, where we discussed financial health, and tips on managing funds as a small business owner. Here’s the recording of the webinar:
Manage your finances better
As your business grows, it might get harder to keep track of all the finances. A finance app that you trust can go a long way in managing business expenses.
Merchants who create an online store on Instamojo also get access to apps that help create invoices and manage GST. Sign up for your own eCommerce website today!