5 Finance Apps for Financial Reporting in 2022

For every business, the growth and development phase is the exciting time where financial reporting and management are the most concerning phenomena. It enables the customers to deal with various budgets and accounting chores. The financial reporting apps maintain the statistic of various records, including income statements, balance sheets, valuable statements, profits, and losses.

The same traditional method for calculating and maintaining the financial record is time taking as manual record-keeping is the most difficult task. Financial reporting includes the comprehensive review of monthly, quarterly, or yearly financial records to drive the business efficiently.

Agile and accurate financial reporting plays an important role in company performance and identifying the new opportunities for making the right business growth. It is proved helpful for identifying trends, mitigating potential risks, and avoiding obstacles for an organization.

Five Most Effective Apps Are Described with Unique Features:

Fresh Books:

Fresh Books is designed for service-based businesses, including designers, marketing agencies, IT professionals, lawyers, web professionals, and many others, to create value for the customers. It allows upholding a longstanding tradition of providing the service to valuable customers.

This App is not entirely free to use but offers two various plans, including the Lite and Plus version for the customers. The Lite version is available at the price tag of 4.50 USD per month, and the Plus version is available at 7.50 USD per month.

Features:

  • ACH Payment Processing
  • Accounting Integration
  • Active Dashboard
  • Timesheet Management

Zoho Books:

Zoho Books is a smart online business application that is designed to streamline the business and automate the workflow. This application is not limited to the size of business as it has proven helpful for all sizes of businesses, small to large enterprises.

With the usage of this App, the user can easily transfer and track the accounting duties in other organizations. It offers 24/7 financial support by sharing the book with professional accountants or financial advisors.

Features:

  • Real-Time Reporting
  • Sales Tax Management
  • Supplier Management
  • Time and Expense Tracking
  • Workflow Management

Patriot Accounting:

Patriot accounting offers easy-to-use online accounting software specially designed for small businesses to manage their accounts. It includes various services for valuable customers, such as tracking money transactions, paying bills, and creating estimates.

The services provided by this platform are not entirely free to use but it offers its premium services at the price tag of 15 USD per month. It helps the customers invoicing and vendor’s payments for easy tax calculation for running the businesses in a smooth way.

Features:

  • Purchase Order Management
  • Sales Tax Management
  • Vendor Management
  • Payroll Management
  • Purchase Order Management

BQE Core Suite:

BQE Core Suite is the more efficient App that is used to make the easier and more profitable business even for beginners. It is used to organize the information, automate repetitive tasks and spend much time providing satisfying management rather than managing internal processes.

It is the integrated time and expense tracking application that is used to scale up all sizes of businesses, from small to large enterprises. BQE Core Suite provides simple and powerful features for boosting the cash flow by accelerating the billing process.

Features:

  • Workflow Management
  • Visual Analytics
  • Time Tracking by Clients
  • Speech Recognition

Sage Intacct:

Sage Intacct is the best cloud ERP managing application for providing AICPA business solutions. It includes accounting, contract management, revenue recognition, purchasing, financial reporting application, and vendor management for valuable customers.

This application dramatically removes the IT and operating costs for client satisfaction. It is used to automate the process and reduce cycle time for defining the operational targets. The complex revenue process are also automated with real-time visibility.

Features:

  • Workflow Management
  • Accounting Integration
  • Real-time Reporting
  • Third-Party Integration

Conclusive Note:

In this modern era, no one wants to deny the importance of technological advancement that is playing a role in various fields of life. So, the described above apps are proven helpful in selecting accountant’s tasks without following the traditional manual method.

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