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While every seller has access to the financial tracking tools in eBay’s Seller Hub, there are some facets of your business financials that aren’t covered there. To see the big picture and know exactly where you stand, you need to account for items like expenses, payroll, and taxes; these are the tools that do just that.
For all-in-one accounting: QuickBooks
One of the most popular solutions for managing business finances is Quickbooks. Its software is designed to make accounting easy—even for those who aren’t mathematically inclined—so that you always have a sense of your company’s overall financial health. Quickbooks tracks your business’ sales and expenses and can connect to accounts like your business bank account and PayPal and upload that data into your dashboard. It tracks expenses, stores receipts, and can be accessed on the go from a mobile device.
GoDaddy Bookkeeping is another all-in-one solution for basic accounting. It generates a variety of reports, imports your bank and credit card transactions, and integrates sales data right from eBay.
For accounting + tax prep: InDinero
InDinero is an accounting tool developed with small businesses in mind. It combines accounting software with tax services, automating regular bookkeeping tasks, integrating your bank and credit card transaction history, and making it easy to see your company’s critical financial info at a glance. The service also helps you prepare and file your tax returns and makes sure to maximize your savings on any eligible deductions.
For managing expenses on the go: Expensify
If your current method of organizing receipts is throwing them all into a shoebox or file folder, consider Expensify. The app scans and uploads all your receipts, and imports and tracks the info, so you can always access them—no big box of paper receipts needed. And, if you have multiple employees, it allows you to easily approve any expenses they incur and reimburse them quickly.
For easy payroll: Gusto
If you run a small business with employees other than yourself, you might need a payroll solution to help streamline your process. Enter, Gusto. Gusto does awesome things like automatically reporting your new hires to the government, handling all your tax filings, automatically deducting payments for employee benefits, and sending your employees digital paystubs.
For managing cash flow: Float
For some sellers, a simple spreadsheet is all they need to manage cash flow. If your business has grown beyond that, check out the Float app. It specifically tracks cash flow so you always know exactly what you’ve got on hand and can prepare for any financial surprises. Additionally, it can help you accurately analyze your cash flow—and make predictions about your future cash flow—by looking at patterns in your cash balance.
For creating and sticking to a budget: PlanGuru
Every business needs a budget, and if yours needs one that’s a bit more sophisticated, look to PlanGuru. The program can import data from Excel and QuickBooks and quickly analyze historical data and build forecasts for the future. The programs builds reports that show you exactly where you are, and where you can go, so you can make the right decisions based on data.
What financial management tools do you use in your business?
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