I am a finance geek and I love talking about startups and finance concepts. Starting a business can be daunting and daunting for anyone looking to start his or her own financial services business. The real question is: where do you start? This article will help you on your journey of starting (and succeeding) as a new business owner.
Startup Financial Model
Startup financial model is your one-stop-solution for creating detailed investor return summary, income statement, balance sheet, cash flows, pre-money & post-money valuation, customer lifetime value analysis, and other financial statements required for running a startup and raising funds.
Startup Financial Model is an upgrade to the traditional business plan. The model has a simple interface and lets you create a detailed multi-sheet business planning financial model within an hour that includes and connects everything from sales to staffing.
Looking at the accounting software landscape it can be quite tough to figure out where to start and what tools to choose. To help you find the SaaS solution that works best for your startup, we’ve compiled a list of 10 great accounting and finance tools to make your life a bit easier.
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
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.
Some Float features include:
- Export and Share Insights
- Easy to understand cash transactions detail
- Budget comparison vs actuals
- Scenario planning
Melio
Melio is helping small businesses to better manage their supplier payments, minimizing time and cost while maximizing cash flow. It offers payment workflow empowering businesses to focus on their customers, not their back office. Melio bill payment solution for accountants helps manage all of their clients’ payments in one place, saving time and money.
Melio offers a simple way to pay vendors and contractors. Customers can pay any invoice with a bank transfer for free, or use their credit card to defer payment, and vendors receive a check or a bank deposit.
Customers can also invite users and easily set up their roles and permissions, controlling approval of each transaction and stay on top of cash flow. Melio also allows customers to save time on scheduling each bill individually, selecting multiple bills, and paying them all at once. Try Melio now!
Plans and Pricing:
Melio offers two types of memberships: for businesses and accountants. The monthly subscription is free, the only fee is 2.9% for credit card payments. Both memberships include:
- Sending checks
- Bank Transfer (ACH) & bank deposit
- Receiving credit card payments
- Unlimited companies/clients AP/AR management
- Unlimited users per account
Plooto
Plooto is an all-in-one account payable (AP) and receivable (AR) platform. Plooto’s vision is to provide a robust financial operations platform to automate and simplify complex workflows, by unifying payments, processes, control, reconciliation, and reporting.
Plooto gives small and medium businesses greater financial control for better cash flow, saving time to focus on coming up with strategies and financial forecasting.
Plooto enables international payments to 30+ countries for a flat fee with a competitive exchange rate, pre-authorized debit agreements, and integration with QuickBooks (QB) and Xero. Try Plooto now!
Plans and Pricing:
Plooto offers two types of memberships: For businesses and for accountants. Both plans include unlimited users per business, unlimited approvers, unlimited customers and suppliers, unlimited bank connections, free accountant/bookkeeper collaboration, free live support. Pricing starts at $25/month plus applicable transactional fees.
QuickBooks
Quickbooks is a cloud-based financial management software designed to save time spent managing business finances.
Businesses can create estimates and invoices, track sales and cash flow, manage customers and suppliers, monitor tax and make tax returns, keep up with performance and budgeting.
Teams can create and send professional-looking invoices in seconds with custom templates and automated reminders. Quickbooks keeps a record of every receipt so businesses are always organised for tax time. Try Quickbooks now!
Plans and Pricing:
- Simple start – Track sales, expenses, and profits, create and send unlimited invoices, track and manage your sales tax, for one user, plus your accountant. Pricing is €7.5/month.
- Essentials – All Simple start features plus manage and pay bills, transact in multiple currencies, generate sales quotes, for three users, plus your accountant. Pricing is €11.5/month.
- Plus – All Essentials features plus inventory tracking, create purchase orders, track project or job profitability, for five users, plus your accountant. Pricing is €15.5/month.
Xero
Cloud-based accounting platform is now a reality, thanks to platforms like Xero. Xero is an online accounting software which lets you get real-time access to your cashflow, create professional recurring invoices (and receive updates when they’re opened), import and categorize your latest banking, credit card and PayPal transactions, and create and send custom purchase orders seamlessly.
The platform comes with over 700 tools which helps you manage your core business financial transactions along with payroll management and inventory management.
You can try Xero free for 30 days and then choose the plan which fits to your needs better.Try Xero
Quickbooks
With over 4.3 customers worldwide, Quickbooks is one of the most trusted business financial toolkit available online.
The tools available on Quickbooks let you:
- Track income & expenses
- Maximize tax deductions
- Invoice & accept payments
- Run reports
- Send estimates
- Track sales & sales tax
- Manage bills
- Work together with your team
- Clock employee time and billable hours
- Track Inventory
- Create and manage budgets
- Pay employees with free direct deposit
You can try Quickbooks free for 30 days and then choose the plan which fits to your needs better.Try Quickbooks
Freeagent
Freeagent is an accounting software designed with a focus on small businesses and freelancers. The online accounting software lets you manage your invoices, expenses, projects, and tax from one place.
What separates this software from others is its simple price structure. Get everything unlimited at just $10 per month (after a 30 days trial period).Try Freeagent
Freshbooks
According to the company, 97% of the customers recommend Freshbooks.
The software comes with a simple to use interface, an ability to automate invoicing, organising expenses, managing projects and payments and tracking time. Freshbooks is also available on Android and iOS platform so you can keep a tab on your business no matter where you are.
This accounting software offer 3 different plans starting at $15. You can try any of them by signing up for the free trial on the website.
Conclusion
Finance is the movement of funds from one entity to another, or within an entity. It is a subset of the role of the finance manager. The movement of funds is usually in accordance with a budget, and can be split into capital expenditures, investments, financial operations, cash flows, treasury management.