Managing money can be as difficult as earning it. Proverbs like “A dollar save is a dollar earned” are awfully nice to read and quote but can be tough to put into practice. Starting to track the money you spend is one of the simplest first steps one can take. Once you see how much is going where, you will automatically scramble to cut down wasteful expenses.
Since our generation is known for its acute ADD, noting down every expense on a notebook or an iPhone app won’t last more than a couple of days. In the aftermath of the personal finance revolution spearheaded by Mint, there are a ton of online apps to help you pinch personal & business pennies and after the jump we’ve a compiled a few for your financial well being.
Cryptocurrencies, the most famous of all being Bitcoin, turned geeks and normal people with a bit of tech interest into virtual millionaires, overnight. In recent months they’ve hit the headlines for facilitating the sale of drugs and firearms by concealing the identities of those involved. They even accentuated the capital outflows from Cyprus during the country’s financial collapse and subsequent EU bailout earlier this year.
In 2011, those buying into cryptocurrencies were laughed at by investors and economists. Now, BitCoin is regularly the feature of two page spreads in the Financial Times and is rumoured to be a serious headache for regulators of the traditional banking system. Since the high profile take-down of The Silk Road (a shady, Deep Web marketplace mainly used for drug sales), the FBI have backed off.
In a further vote of confidence, the Chinese government recently indicated that they have no real issues with cryptocurrencies and have allowed a Chinese exchange to grow into the world’s largest, surpassing MtGox a few weeks ago. However, they’ve also eliminated the possibility of it ever becoming part of their official national finance framework.
In spite of its recent successes, BitCoin remains rouge. Personified, it’s a surly teenager protesting against “the system”. Big Business has given it nothing more than an amused smirk because BitCoin doesn’t wear a suit to work nor have Terms & Conditions attached. Ripple’s ‘XRP’, a new kid on the cryptocurrency block, does.
Web-based accounting software has been increasing in popularity recently. In today’s world of cloud computing and remote working, it can help companies work more efficiently (as employees do not have to work from a fixed location) and often, web-based accounting systems can reduce a business’s IT costs, as they often charge a monthly subscription fee, rather than lumping the company with a massive bill for server upgrades and expensive licences.
Kashoo, from the Vancouver-based developers of the same name, is one of these systems. It helps users say goodbye to the days of slow and complicated accounting systems and promises to save every user 5 to 10 hours a month when it comes to doing the books. This is a bold claim, so I took the test version of Kashoo out for a spin to see how it fared.
Money management has always been a daunting task for most folks, not just because it rarely works, but also because of the overwhelming amount of tools, apps and services that are available online. While multi-featured services like Mint or Pocketsmith are great tools that allows for detailed planning of your finances, some of us may want to take a simpler approach.
This is where Toshl stands out and carries out the task just as efficiently as its other weightier counterparts. If you’re looking for a fun, easy way to plan expenses, check this app out.
Accounting is one of those frustrating things that we all have to deal with in business. Recently, I looked at two web-based accounting systems, Crunch and Kashflow, both designed for small businesses with limited IT funds. These systems, along with having low maintenance costs (which usually come in the form of a monthly subscription fee), can be tailored to fit the company’s exact needs and allow for far greater flexibility when it comes to managing the company’s books.
Up till now, I have only reviewed accounting systems for UK-based small business which, due to different accounting practices, are not suitable for US companies. There are plenty out there (just Google ‘web accounting’ for a few) however LessAccounting seems to be a strong contender for a simple, easy-to-use accounting system owing to its intuitive user interface and the fact it integrates with your bank’s data which, according to the developers, can cut down the time you spend doing the books by up to 80%.
Is this the one accounting system for U.S. small businesses? Let’s take a look at it in a bit more detail to find out.
With the advent of cloud-based computing and the ever-progressing steps in the technology world, businesses are turning much more to Internet-based programs to help them operate efficiently and keep all their resources organised. Just look at the recent rise of web-based software that is aimed solely at businesses (especially project management software) and you can see that people want to be able to access the IT resources of their business no matter where they are in the world and no matter what device they are using.
But is there really a solution that can run a company completely? Well, MYCO Suite thinks it can. It is an online ERP (Enterprise Resource Planning) system aimed towards small and medium sized businesses which is designed to run almost every single department of a company, from the purchasing and procurement side of things to the sales and human resources side. Unlike conventional ERP systems, which often require a refresh of the entire IT system and can often be a financial burden on companies, MYCO Suite is low-cost ($15 monthly for each user) and is entirely Net-based, meaning that businesses do not have to spend thousands on refreshing their entire IT system.
MYCO Suite may well be a fantastic solution for some companies who need access to their resources not only from the office. To find out whether it is a great tool or not, I signed up for the 7-day free trial and tested it for myself. Here are my findings…
Good accounting practices are key to any company, whether it be a sole trader or a large, multinational corporation. It helps keep the company flowing and is vital for end-of-year figures, fiscal forecasting and resource planning. However, given the sheer range of accounting software out there, it is often difficult to choose which one to use. Large companies with plenty of money at their disposal often choose an expensive ERP system such as SAP or Infor, however smaller companies often don’t have the liberty of choice.
Web-based accounting software seems, for the time being anyway, to be the way forward for smaller companies looking to keep their books in order as well as saving money purchasing expensive, mainstream accounting solutions such as SAGE. The one I’m going to look at today is Kashflow, which is aimed towards small businesses based in the UK. There are plenty of features built in to Kashflow which make it a worthy candidate as a great accounting system for small businesses.
Let’s have a look at it in a bit more detail.
In this Quick Look, we’re highlighting MYCO Suite. The developer describes MYCO Suite as CRM, Project management, Sales, HR and Finance in one compact system. Having all your CRM information, projects, sales leads and financial reporting together in one secured system. MYCO Suite helps management by creating transparency and reduces complexity. You are now able to say goodbye to multiple spreadsheets and systems.
Read on for more information and screenshots!
Being a student, I know that budgeting prudently and knowing exactly how much you’ve got in my accounts is very important. There’s nothing worse than logging on to your online banking and realising that all those “little transactions” you made a few days ago have put a big dent in your balance.
There is a enormous range of personal finance software out there and every single platform, whether it be desktop or mobile, has a mind-boggling array of options. However, I find that many of these programs come with unnecessary features that the average user doesn’t need.
Of course, these features come at a price, and with many personal finance programs you are paying for features that you will never end up using. I, like probably a lot of people, just want a program that shows me what I’m spending my money on.
This is where The Birdy kicks in. It’s a simple, lightweight, web-based personal finance tracker which helps you keep track of your daily spending, showing you exactly where and what you are spending your hard-earned pennies on. The icing on the cake is that The Birdy is completely free, with no signup or subscription fees to pay.
This all sounds brilliant, doesn’t it? Let’s take a closer look at The Birdy and its features.