5 finance apps for small business owners

Understanding the financial puzzle of your small business is essential. These apps help you do that.

By Emma Miller

Nowadays, launching a successful business is easier than ever before. There are so many business tools and guides out there that now virtually anyone can launch their own startup with ease. But don’t get fooled by this; launching a business is indeed the easy part. The hard part is keeping track of your business, especially its finances. A lot of part-time entrepreneurs and small business owners forgo focusing on the financial aspects of their operation, which sees them ending up in debts and accumulating huge losses due to their negligence. All of this can be avoided by the use of these five simple finance apps made exclusively for small business entrepreneurs.

– Mvelopes

Gone are the days when you were forced to use paper envelopes to categorize your spending power. With the new advances in technology everything is becoming digitalized, even your envelopes. Mvelopes is an app that sorts your finances into various ‘virtual envelopes’ that are then used for specific purposes. This kind of budgeting is an excellent way to deal with fluctuating expenses, which is often the case with small businesses. You cannot borrow money from the ‘employees’ paycheck’ envelope once you’ve depleted your ‘investments’ one, as an example. Meaning, you’ll never end up short when it’s time to settle your basic expenses. On the next payday, money is redistributed again and you can feel safe that every penny is being used for the right purpose.

– Venmo

Sending and receiving money is remarkably simple with Venmo, just type a recipient’s username, email address or phone number and it will instantaneously reach its destination. No need to deal with bank accounts and transactions, this app will do all that for you. Furthermore, it encrypts all the important info before storing it, making it quite safe for use, as well as using that same info to remind you if someone still owes you money. However, the best thing about Venmo is that it can be synced with Facebook or your phone contacts, making transactions with customers a lot easier. Small business owners can use this app to sell their merchandise without ever leaving their Facebook page. This way they can focus heavily on the lucrative social media marketing and keep track of their finances at the same time.

– Personal Capital

Another really useful finance app, Personal Capital, has a lot to offer with its free features. Transactions can be imported from different accounts, allowing you to easily monitor everything from one place. There’s also the option of creating cool charts that help you visualize your budget week for week. Moreover, it keeps track of your net worth and has some neat investing tools embedded in its features. It’s perfect for small businesses and part-time entrepreneurs who wish to expand their wealth and assets. Just a word of caution, when investing in equipment for your business, such as cars, always check and compare the online offers at places like Consumer that can get NZ insurance compared or any other of interest to your business. This way you’ll make the best killer deals possible.

– Mint

An extremely popular app, Mint, reduces your overall expenses with precise, automatic calculations. Tracking your finances is essential for any small business entrepreneur and this app allows such operations by monitoring your various bank accounts simultaneously. Mint sends an alert in the form of a reminder when bills are due, so you won’t miss out on any payment. Moreover, it can automatically pay them for you and relieve you of any unnecessary hassle. It also provides the best interest rates out there, in addition to offering valuable advice on how to manage your small business finances. Although it’s very similar to Quicken, due to the company actually owning Quicken before purchasing Mint, it is completely free, making it perfect for bootstrapped entrepreneurs. The only downside of this app is that it is limited to the US and Canada, so people outside of this region will have to find an alternative.

– Toshl Finance

Finally, Toshl Finance is exceptionally good for monitoring and keeping track of your finances. Much like the previous apps, it too has budget filters and categories that you can name and tag yourself. All of this data can then be exported to PDFs, Excel spreadsheets and Google Docs, making it invaluable for small business owners when it comes to crafting reports. Not only that, but it has a visually appealing display of info with charts, graphs, photos of receipts and expense location maps. Toshl Finance provides everything part-time entrepreneurs need to stay well informed and in touch with their businesses. In addition, it supports some 165 currencies and cloud syncing allows it to keep track of all spending records.

Monitoring the finances of your small business will be like a walk in the park with these appts. Keep your business safe and finances secure.

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Emma Miller is a marketer and a writer from Sydney. Her focus are digital marketing, social media, start-ups and latest trends. She’s a contributor at and a mother of two. Twitter.

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