From keeping your books in order to managing payroll, handling your business's finances may seem like an overwhelming responsibility. But there are plenty of great tools out there that don't require you to crunch all those numbers in your head.
We asked six entrepreneurs from FounderSociety (FS) to share their favorite tools for keeping their company's finances in order.
Q. What’s the number one financial tool your company can’t live without?
1. A Whiteboard
We've adopted an "open book" policy where we put our quarterly goals up on a whiteboard in our office for everyone to see. We've found that making those numbers transparent and tracking our progress towards them helps everyone, not just the sales team, think of innovative ways to hit our goals. –Lisa Curtis, Kuli Kuli
2. TSheets
The TSheets app is critical to my business because it allows employees to account for each hour they work at home or on the road. It also has different codes for when my employees work at night. Since using TSheets, I've noticed employees are willing to work extra hours because they know each hour is accounted for. –Ajmal Saleem, Suprex Learning LLC
3. Wave
We use Wave, which is 100 percent free to use and it compares to other programs on the market, like QuickBooks. Whether you're an accountant or a founder who wants an easy-to-use program, Wave is the way to go! –Zachary Collins, ZaCo Technologies
4. Harvest
Harvest lets us keep track of project costs and stay within budget. It also lets us invoice and quickly see sales by month. QuickBooks keeps our books in order, but Harvest lets me know how we're doing at any given week or month. Initially, we used a combination of tools for what Harvest can do all at once. It's great that it does it all but in a much more unified fashion. –John Arroyo, Arroyo Labs, Inc.
5. Gusto
We love Gusto for payroll. This software tool helps us automate payments and keep all employee data safe within one central application. –Arry Yu, GiftStarter
6. Numbers
Numbers for Mac is what I use for keeping track of day-to-day expenditures, three-year financial projections, and payroll. I feed data into the sheet inside Numbers from our other online tools, including Xero, Intuit, and our bank account. I do financial projections and forecasting every week, and I balance the sheet against our bank account every morning to ensure we're on track for spending and income. –Coy Yonce, Mantis Digital Arts
