Managing your money is an integral piece of business success, and personal success. With the right tools and the right support, you’ll be amazed how easy it is to keep your finances humming along.

QuickBooks Online (@QuickBooksCA)

Bookkeeping / Invoicing

A full-fledged bookkeeping system, QuickBooks Online is a favourite of small businesses and bookkeepers. Anywhere you have an internet connection, you, your bookkeeper and your accountant can all access your file. You may want some help with the setup (yes, we do that!), but once up and running, you will wonder how you lived without those management reports happily greeting you each time you open it. Many how-to tutorials are available online, and support has proven to be very responsive. Timesaving features include accepting invoice payments directly by credit card/e-transfer, automatic downloading and categorizing bank and credit card transactions and integrations with Hubdoc (more on that next).

HubDoc (@Hubdoc)

Receipt Management

If you’re tired of data entry or never knowing where you put your receipts and bills, HubDoc is your answer. Hubdoc is a cloud-based repository for keeping your bills and statements in one secure central location. A simple picture taken of your receipt then emailed to your Hubdoc account, and that little piece of paper is no longer your concern. You can set it up to automatically download your bank and credit card statements; plus, all this can be easily shared with your bookkeeper and accountant (they love that!). Not only does it keep your documents all in one place, but it can also read your receipts, bills and invoices so the data can be exported seamlessly into your accounting program, such as QuickBooks. HubDoc is free to try for 14 days.

Wave (@WaveHQ)

Bookkeeping / Invoicing

A relatively new player in the market, Wave is positioning itself as a viable alternative for entrepreneurs and small businesses looking for a feature-rich bookkeeping app at an excellent price (free). The software can be used for accounting, invoicing, lending, payments, payroll, and receipts and is easy to use with an intuitive interface, receipt scanning, and the ability to handle multi-currency, hundreds of international bank connections, and regional sales tax/VAT.

Square (@SquareCanada)

Mobile POS

If you tend to meet your customers and collect payments in person, Square might be for you. An easy-to-use mobile point-of-sale tool with a variety of affordable price points, Square allows you to carry out invoicing, next-day deposits, and inventory management while on the go. Square comes with an export function for your sales data should you need to download it to Excel. With the Square Reader, you can accept payments anywhere on your smartphone or tablet easily and securely (card information is encrypted as soon as it is swiped). Working with an iPad? No problem! The POS Stand with built-in credit card scanning allows you to professionally display an iPad either on your countertop or while you’re out and about, making paying on-site easy and seamless for your customers. All you need is the Square Point of Sale software installed and you’re good to go!

Payworks (@PayworksInc)

Payroll

When it comes to small businesses, Payworks is an attractive and affordable solution for payroll needs. It has a user-friendly interface and is designed to meet both simple and complex payroll demands. Not many people enjoy doing payroll, so why not leave it to the experts? Payworks will prepare and file T4s, remit source deductions to the CRA and do WCB remittances. From first-hand experience, we’ve found their support to be timely and helpful. Beyond the basics, Payworks can also provide scheduling, absence management and an HR module. Curious about cost? You can receive a product quote tailored to your specific business size and payroll frequency quickly and easily in just a few clicks online.

Mint.com (@Mint)

Personal Budgeting

A handy free app for viewing all your accounts at a glance, Mint allows you to easily view your net worth, create budgets, track expenses, and even check your credit score (if you’re feeling brave!). The app alerts you if you’re being charged fees, are over budget, or if something in your banking seems suspicious. Mint connects to all your bank and credit card accounts (Canadian and U.S.) and downloads the transactions, giving you the “big picture” of all your finances in one place. You’ll appreciate having that tedious work done for you so you can start gaining insight into your spending habits. It has several built-in graphs to provide useful visuals on your finances. If you’re the type that likes to customize, you have the freedom to add sub-categories, but for the main expense groups, you’re stuck with what you’re given.

YNAB (You Need a Budget) (@ynab)

Personal Budgeting

For those wanting more control over their budget, YNAB won’t disappoint. While it’s not free ($50 a year with a 34 day free trial), this is a tool for the hands-on person who will appreciate the ability to “give every dollar a job”, create a personalized budget and see real cash flow. The software connects to your banks and credit cards for reconciling the purchases you have entered. YNAB can show you whether that purchase fits into the budget you’ve made, and if not, helps you reallocate budgeted amounts between categories. If you’re currently using a spreadsheet, give this a try instead. The software comes complete with helpful videos, podcasts, free online workshops, guides, and weekly newsletters that will help keep you on track and accountable to your financial goals, whether personal or business.

Have questions about choosing the right tools for you? Ask us!

Better yet, want to hand off your bookkeeping and never look at it again? Try out our bookkeeping services - you’ll never look back!