[Financial Planning For Startups] 7 Best Financial Tools For Startups

1. [Financial Planning For Startups] 7 Best Financial Tools For Startups A company can grow as much as long as it can keep up with its finances. When a startup has no idea about its finances and no record of the cash inflow and outflow, that startup is on its journey of destruction. That is why Financial Projection Assistant Company planning is important. So, businesses, especially startups, need to have a financial balance. Not only balance, but they should also keep track of their finances. A Business Compliance Services For Startups and Startup Compliance should know and record where the money is coming from, where is it going, how well is the financial performance, and how it will perform financially in the coming months, for it to have sustainable growth. No matter the size of your business, you are going to need to engage in Financial planning, i.e. budgeting, forecasting, and analysis.

2. Investors love entrepreneurs who have an excellent financial management system. It gives them the signal that you will manage their money well and will not make common financial mistakes made by startups. In this digital age, there are many advanced financial tools available that lets businesses stay ahead of their finances. So, The StartupLab has prepared a list of the 7 best financial tools for startups to help them succeed in their venture. Read: [Digital Growth Strategy- Useful Techniques To Grow Your Business Digitally] 7 Best Financial Tools For Startups 1. Freeagent Freeagent is online accounting software designed with a focus on freelancers, small business owners and their accountants. The software brings business processes together, from invoice and expense management to project management and sales tax. Some Freeagent features include: Automate Invoicing Process Expense tracking project activity Management Automatic Bank Feeds 2. Float Float is an award-winning cash flow forecasting software. The software provides cash flow forecasting and scenario planning. Float’s users get a real-time, visual view of their cash flow which lets them make more confident decisions about the future of their business. The software even syncs with various accounting software to make managing your business easier.

3. Some Float features include: Export and Share Insights Easy to understand cash transactions detail Budget comparison vs actuals Scenario planning 3. Xero Xero is a cloud-based accounting platform that lets you get real-time access to your cash flow. With Xero, you can automate everyday business tasks, get up-to-date financials and run your business from wherever you are. The platform also lets you create polished recurring invoices, import and categorize your latest banking, credit card and PayPal transactions. Plus, Xero helps in create and send custom purchase orders seamlessly. Some Xero features include: Smart online accounting Seamless data flow Business performance dashboard Secure data protection Multi-currency accounting 4. Gusto Gusto is an all-in-one platform that provides the right tools and services for your business and your team. The platform with tools like small business financial relief, employer tax calculator, burn rate calculator, salary comparison tool, etc., makes it easy to onboard, pay, insure, and support your hardworking team. Some Gusto features include:

4. Employee finance tools Full-service payroll Hiring and onboarding Certified HR experts Time-tracking 5. Expensify Expensify is the world’s leading application for receipt and expense management. The application lets you automate every step of the expense management process like receipt and mileage tracking, syncing up with your accounting software, etc. Expensify easily integrates with the organization’s policies and provides features to/for smart scan the receipts, duplicate expense detection, automatic reimbursements to employee accounts, and credit card expense imports. Not only just for business use but its an expense management system for personal use also. Some Expensify features include: Unlimited Receipt Scanning PCI-Compliant Security Receipt Integrations Credit Card Import Multi-Level Approval Workflows 6. QuickBooks QuickBooks is a simple online software that lets business owners make informed decisions. The software lets your accounting data organized on the cloud, with which you can track sales, create and send invoices, and also know how your business is doing at any time.

5. QuickBooks brings power to your business with its small business GST accounting software. Some QuickBooks features include: Cloud Accounting Cash Flow Management Invoicing Multiple Users Online Banking Accounting Reports 7. Bill.com Bill.com is a cloud-based intelligent business payments platform. The platform simplifies, digitizes, and automates back-office financial processes for small and mid-sized businesses. Bill.com’s AI-enabled platform creates connections between businesses and their suppliers and clients. As a result, organizations become efficient in managing their cash inflows and outflows. The platform works with much other accounting software Xero, Quickbooks, and lets you automate the way you pay bills, send invoices and get paid. Some Bill.com features include: Automated accounts receivables Email personalized invoices and reminders Sync with your accounting system Cash Flow Management Automated Approval Routing Process

6. Note: Majority of these financial tools provide a free trial. So, use these tools and work with the one that suits you well. Visit Us:LLP Company Registration,Virtual CFO,How to Register a Private Ltd Company and Virtual Report Read: Step By Step Guide on How to Build a Minimum Viable Product (MVP)