Three Easy Ways to Manage Company Money on the Go
As you’ll no doubt know already, running your own business is highly rewarding – but it’s by no means easy. Effective management at all company levels is crucial, especially when it comes to finances. With so many responsibilities to meet, it can be tricky to constantly monitor money as a director.
If you struggle with this, worry no more: we offer three simple solutions to help you better keep an eye on your business’ money.
- Monitor ALL finances in real-time
You likely own a smartphone – so why not make the most of it? Download a suitable budgeting app and you’ll have all need to monitor your company’s finances wherever you are. Just remember to look for mobile account solutions that are specially designed for businesses – and don’t forget to consider your company plans either. If you want to take on more staff, for example, you could benefit more from an account that allows you to monitor spending on multiple cards. Alternatively, if you run an SME, you may want a provider that offers a more assistive management app.
- Create a company cash flow
It’s one of the oldest business tips in the book: for consistent growth, budget wisely. Very often, though, a spending plan isn’t enough to manage your company spending. Ask practically any financial specialist, and they’ll suggest creating a cash flow. Luckily, this is easy to do – you just need to take all expenses into account. Then all that’s left to do is add this data to a basic spreadsheet format. Download a spreadsheet platform on your Smartphone, and you’ll be able to update it whenever necessary. Who knew it could be so simple to monitor company spending and outgoings on the move?
- Make the most of tax-specific tech
Tax. Even just the word can be enough to make us sweat – but it doesn’t have to be scary, particularly if you’ve got the right tech. Various apps on the market make it easier than ever to complete your business taxes on the go. Many allow users to track expenses, upload receipts and calculate tax payments on your smartphone. Download one of these apps, and you won’t need to spend hours working through spreadsheets to complete your business taxes – you can do it from just about anywhere (wi-fi access granted). Of course, you can brush up on business tax at any time on the IRS website.
Tech can be a business-owner’s best friend – and these tips could help you to use it to your advantage. Once you’ve found the app to suit you, you’ll be all set to improve your company’s finances.
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