Keep tabs on how your business finances are doing is one of the more important things a business owner can do. The old saying goes “If you can measure it, you can improve it” holds true here. Being able to track financial growth, trends, and forecast upcoming expenses can be more than some entrepreneur can bare to handle. Below are some great tools that Entrepreneur.com found and a link to their article.
1.
inDinero
Launched:
2010
What it does:
inDinero pulls your transaction history from banks, credit cards and financial accounts and organizes it for you. There is no tedious data entry; you just input your account numbers. It sorts transactions by category – such as payroll, advertising, and dining – and tracks spending changes each month. It also creates accounting reports for you.
Cost:
Plans range from free to $49.95 per month.
Related: A Common Personal Finance Mistake New ‘Treps Make
2.
BodeTree
Launched:
2011
What it does:
BodeTree partners with Intuit, which makes QuickBooks accounting software. So, this dashboard analyzes financial information only from business owners who use QuickBooks. Once connected, it automatically generates colorful breakdowns of your expenses. It creates analytical reports that show how your company stacks up against competitors, and offers financial projections. Perhaps most uniquely, BodeTree calculates and updates, in real-time, an estimation of your company’s worth. You can watch the value of your business fluctuate, much the way that publically traded companies watch the value of their stock move.
BodeTree is named after the Bodhi Tree, where, according to legend, the Buddha reached nirvana. The idea is to enlighten you and bring some Zen into the complicated world of finance. Following this theme, your BodeTree dashboard will show you a “business enlightenment score” which gives you a summary benchmark reading on the overall health of your business according to the BodeTree algorithms.
Cost:
$250 a year or $24.99 a month.
Related: 9 Things Startups Must Know Before Approaching Lenders
3.
Corelytics
Launched:
2005
What it does:
This dashboard imports your financial information from several accounting software programs, including QuickBooks, Sage Peachtree, MYOB, and others. Once your financial information is imported, you can monitor whatever metrics — like revenue, expense, profits, receivables, gross margin, or owner compensation — you are most curious about and set goals for each one. The dashboard will color each metric either red, yellow, or green, depending on whether your business is running behind schedule, on pace, or ahead of schedule to meet the goals you set. You can also compare your progress with competitors. And if you’re always on the go, consider Corelytics’ mobile application, which won Intuit’s Apps Showcase award last year.
Cost:
Plans range from free to $69 a month, after a $180 set-up fee.
Related: 5 Questions You Must Ask Your Credit Card Processor
Read more: http://www.entrepreneur.com/blog/223876#ixzz2qydOhedb
