Accounting is crucial for the effective running of daily business activities. Accounting helps businesses keep financial records and ensures statutory compliance. Most small business entrepreneurs are actively involved in their business account because it helps them understand their business financial condition and provides insights for making essential business decisions.

Accounting processes are pretty complicated and technical, but you can simplify these processes by using some reliable accounting applications. As a busy entrepreneur, accounting apps allow you to make and receive payment instantly, effectively track your business financial transaction, and generate different useful financial reports. This enables you to make informed business decisions that aid your business growth and entrepreneurial success.

Here 7 accounting apps needed for effective handling of your business financial activities:

#7 Plooto

Plooto offers businesses simple and affordable payment solutions. Plooto allows easy, fast, and seamless cash flow, thus eliminating cheques, wires, and bank EFTs. Plooto is ideal for small and medium businesses. It simplifies workflow and streamlines the account financial transaction process by having you and other top decision-makers in your company on a single platform. Plooto can be integrated with top accounting software for proper tracking of your business transaction. With Plooto, you can process payment with a client or vendor without a Plooto account.

You can do this through direct payment to their bank account using the client’s email. Plooto supports both mobile and desktop, enabling you to process the payment on the go. Plooto costs $20 per month, and it also offers a free trial.

#6 Synder

If you are an eCommerce entrepreneur that sells on multiple channels, you need to have a Synder app for effective management of your account. It saves you the stress of tracking your accounts on your multiple sales channels manually. Synder can also be synced with 14 top payment processors like Amazon, Stripe, PayPal, Etsy, Shopify, and more. Synder details different transaction data from different sources connected to your online store.

Synder reconciles your book in one click and provides details about sales, inventory, and tax. It also allows you to create an invoice automatically. Synder pricing model starts at $19.99 per month, and it also offers a free trial.

#5 Avalara

Avalara is a worthy alternative to taxjar. It also helps your business remain tax compliant. Avalara offers reliable automated tax solutions to all kinds of transaction taxes. The tax compliance application effectively enables you to calculate your tax, file, and remit returns. Avalara can be integrated with tons of accounting systems and different ERP and CRM providers. Avalara is a bit pricey, but it offers excellent value for businesses.

Its pricing starts at $99 per month. It also offers a free trial that runs up to 60 days.

#4 Melio

Melio is another viable application that offers entrepreneurs and accountants awesome bill payment solutions. Melio makes it easier for you to pay vendors with bank transfer or debit cards for free. Melio is very easy to use, and it can be seamlessly integrated with your accounting software. Melio ensures smart payment that helps you maximizes your cash flow with less effort. Some of the fantastic features of Melio include account payment and receivable, ACH payment processing, billing and invoicing, cash management, check processing bookkeeping services integration, and client management.

You can enjoy most of these services for free with Melio free version or subscribe to any Melio plan to enjoy more features. Though Melio charges a $0 subscription fee, it charges a 2.9% fee on your credit card payment for its business and accountant plan.

#3 Bill.com

Bill.com is a standalone website that automates your account receivables and payables. You can also integrate the website with your account software like QuickBooks Online and Xero. Bill.com has a user-friendly interface that is easy to navigate. Bill.com has artificial intelligence (AI) that reduces data entry and human error.

You can effectively use the website on your Android, iPhone, and iPad. Bill.com allows you to create customizable invoices, contingency billings, and create a contact database. It can be easily integrated with your CRM. Bill.com pricing starts at $39 per month. It also offers a free trial. You can get more information about its features and pricing on https://www.bill.com/

#2 TaxJar

TaxJar is a leading tax solution application used by top brands around the world. It is perfect for any business size. Taxjar helps you to effectively handle your sale tax while you focus on your business.

Taxjar leverages seasoned technology and the fastest API in the industry to provide your business quality sales tax solution. Taxjar is scalable; it has features that can fully accommodate your business sales growth. It enables you to get accurate sales tax reports even if you sell across different states. It is easy to set up and has very responsive support. Taxjar price is quite affordable and competitive. Its pricing starts at $19 per month, and it offers a free trial.

#1 Bench

As a business owner or accountant Bench app saves you energy, cost, and time when it comes to bookkeeping. Bench helps manage your book and convert your financial data into tax-ready financial statements while focusing on growing your business. Bench also tracks your business expenses, ensures bank reconciliation and cash management. Bench also provides an interactive option to chat with your team members.

Bench is easy to connect with your bank account and third-party payment to processors. Another exciting feature of Bench is that it allows you to get personalized support from a human bookkeeping team, making Bench bookkeeping service more effective and accurate. Bench pricing starts at $249 per month. It doesn’t have a free version, but it offers a free trial.

The ultimate life equalizer is the 24 hours/day limit. These services and applications help automate your business financial activities and serve your customers better. So you can focus on innovation and growth for your venture.