Accounting and HR tools are essential for small businesses because they help manage and streamline important financial and HR tasks. These tools can help businesses track income and expenses, manage accounts payable and accounts receivable, process payroll, and handle HR tasks such as onboarding and performance evaluations. By using these tools, small businesses can save time and reduce the risk of errors, which can help them focus on growing their business. In addition, accounting and HR tools often offer integrations and automations that can help businesses streamline their processes and work more efficiently. Overall, investing in the right accounting and HR tools can be a crucial factor in the success of a small business.
Our Favorite Accounting Tools:
QuickBooks Online
QuickBooks is a cloud-based accounting software that helps small businesses manage their bookkeeping and financial tasks. It offers a range of features that make it easier for businesses to track their income and expenses, generate financial reports, and manage their accounts payable and accounts receivable.
One of the key features of QuickBooks Online is its ability to manage accounts payable. Businesses can use the software to create and send invoices, track payments, and schedule recurring payments. This helps businesses keep track of their outstanding debts and ensures that they are paid on time.
In addition to managing accounts payable, QuickBooks Online also offers a number of other features that can help small businesses manage their bookkeeping tasks more efficiently. For example, businesses can use the software to track their expenses and create budget reports, which can help them better understand their financial performance and identify areas where they can save money.
BILL
Another tool that can help businesses manage their accounts payable is BILL, formerly known as Bill.com. BILL is a cloud-based accounts payable automation platform that helps businesses streamline their invoicing and payment processes. With BILL, businesses can create and send invoices, track payments, and schedule recurring payments, all from a single platform.
Bill also offers integrations with other financial tools, such as QuickBooks Online and Xero, which makes it easier for businesses to manage their accounts payable within the context of their overall financial management processes.
With BILL, businesses can set up custom expense policies, issue virtual credit cards to employees, and track employee expenses in real-time. This helps businesses better control their expenses and ensure that they are being used for business purposes.
Our Favorite HR Tools:
Finally, small businesses also need to manage their payroll and HR tasks. One tool that can help with this is Gusto, a cloud-based payroll and HR platform that helps businesses process payroll, manage benefits, and handle HR tasks such as onboarding and performance evaluations.
Gusto
Gusto offers a range of features that make it easier for businesses to manage their payroll and HR tasks, including the ability to process payroll in multiple states, handle tax compliance, and offer employee benefits such as health insurance and 401(k) plans.
One of the key benefits of using tools like QuickBooks Online, BILL, Divvy, and Gusto is that they offer integrations and automations that can help businesses be more efficient. For example, businesses can use integrations to link their financial and HR systems, which can help streamline processes and reduce the risk of errors. Automations, such as recurring payments in BILL and automatic payroll processing in Gusto, can also help businesses save time and reduce the risk of errors.
In conclusion, QuickBooks Online, BILL, Divvy, and Gusto are all powerful tools that can help small businesses manage their bookkeeping, accounts payable, expenses, payroll, and HR tasks more efficiently. The integrations and automations offered by these tools can help businesses streamline their processes and save time, which can help them focus on growing their business.
The team at Forte Business Services has the expertise to help you and your small business manage each of these essential tools. You can read more on our Finance & Accounting or Human Resources pages to learn about how Forte’s services can help your business run smoothly so you can get back and focus on your forte.
