Financial Tools for Small Business Owners

financial-toolsIt wasn’t that long ago when preparing a small business to navigate financial transactions was an expensive, complicated undertaking. These days, it’s easier than ever to align your business with world class standards in payment processing, bookkeeping, and even tax compliance. Choose the right financial tools and they’ll do most of the day-to-day work for you, while presenting you with the tools and information you need to stay focused on your bottom line performance.

Here are the top three financial tools small businesses shouldn’t go without:


Tons of financial tools have been developed with e-commerce businesses in mind. Square – home of the ubiquitous mobile payment processing Square Reader – is the first to bridge the gap between e-commerce and the “brick and mortar” world, making it easy for solo entrepreneurs and conventional businesses to take credit card payments. Square is a payment card magstripe reader: It converts virtually any modern tablet or smartphone into a point of sale. It syncs with other financial apps and can be used to run multiple stores or even manage payroll.

Square Reader is the most famous service at SquareUp, considering it seemed to pop up across the U.S. overnight – but it’s not the only thing the company does. Another great feature is called Square Capital: It allows businesses processing $10,000 or more in payments each year to qualify for a loan repaid through a percentage of future credit card swipes. You can choose to pay a fixed daily sum or prepay your loan in whole or in part. Loans are issued for a maximum term of 18 months, while the total amount depends on your current financial outlook.


Quickbooks Online

Quickbooks has long been known as one of the leading finance apps for personal budgeting and small business. When you go online with Quickbooks, though, the fun really begins. Whether you operate mainly as a conventional small business, independent contractor, professional service provider, or merchant, you’ll find features tailored to your needs. Quickbooks provides complete payroll management, financial reporting including P&L and balance statements, bill pay, and invoicing. Thanks to instant backups and mobile synching, you’ll never lose data.

PayPal for Business

PayPal is one of the world’s most popular solutions for collecting payments in online businesses. In addition to providing basic financial reports and invoicing, PayPal also empowers you with a wide range of merchant services. You can activate PayPal for any product or service on your site in a few clicks, set prices, tax, and shipping, control inventory, and much more. Just as importantly, PayPal is a remarkably secure solution: 24-hour fraud surveillance means that even if the worst happens, fraudulent charges are often reversed in just minutes.