One of the most essential tools required by all businesses, whether small scale or large, is a proper accounting system.
Without proper bookkeeping, it’ll become impossible to track the transactions that take place. As a result, not only will an organization be unable to deduce its financial position at the end of the year, but will also not be able to reference past records during times of crisis or arguments.
That’s why we’ve compiled a list of the best iOS accounting apps available, that will allow people as well businesses to keep track of all deals, even when they’re on the go.
You can visit The Tech Top 10’s Business category where I keep posting regular articles to help choose good software and tools to make their processes easier.
Advantages of using an accounting App
The benefits of using accounting software and apps are manifold and include the following –
- Convenient recording
Tracking and keeping a check on financial data becomes easy with the help of accounting software since all one has to do is put in the numbers, while the computer system does the rest.
- Provides detailed reports
Organizations can get access to detailed and comprehensive financial reports regarding the status, position, profitability, and more of the business. Such information is crucial for successful functioning and a credible reputation
- Error-free process
Accounting software eliminates the presence of errors to almost nil, which is hardly the case in manual bookkeeping. The automatic procedures ensure that all information is as accurate as possible.
- Fast operations
Apps also make the accounting process faster, as it cancels the need for double-checking or constant approvals. As one enters the basic information, the system automatically processes and saves it.
How useful are iOS apps when it comes to accounting?
The plethora of iOS accounting apps that are available in the app store provide excellent accounting services and help in the management of personal as well as organizational finances.
These tools eliminate the requirements of bulky, space-consuming, and hard to use software and provide users with accounting systems which have a friendly user interface and effective features. They also allow businesses to maintain their accounts on-the-go, which is useful when they’re not operating from the main store or primary location.
Such apps are also a boon for small scale or home businesses, who have comparatively less capital and revenue but still need to maintain their financial records. They’re helpful for individuals who want to keep a proper track of their money matters as well as for beginners who want to dip their toes in the world of corporate accounting and understand it’s intricacies.
10 Well-Rated iOS Apps for Accounting
Developed by Intuit, it is a boon for small and growing businesses looking to keep accounts on the cloud. Users get access to the full service at a reasonable monthly fee. A great thing about the application is one needs no formal background in accounting to use it, thus allowing small business owners the freedom to keep track of their accounts instead of having to hire someone for the job.
It also generates reports to track inventory, payroll, sales, etc easily. However, some users have reported issues with the software’s syncing functions and the ability to handle credit card transactions.
2. Big Time
This is a comprehensive billing and time tracking app for major businesses in fields like information technology, government contracting, engineering, legal services, etc where not all of the work happens in an office environment, and expenses cannot always be put under defined categories. It lets employees track and report time spent on projects through the mobile trackers.
It also allows them to submit expenses using scanned receipts or on an online portal. Once finalized, it submits the details to the administrators for clearance. Big Time can be integrated with other accounting and ticketing apps to generate detailed invoices and reports.
Targeted at firms providing legal services, it is often touted as the best of its kind software in the market. Thousands of law practices swear by this application since it smoothly combines practice management and legal accounting onto one useful platform, eliminating the constant juggling between separate applications for schedule management, billing, and accounts.
It has a single-page interface, runs virus scans every 24 hours, and backs up data in encrypted format at several locations, every four hours. The developers also provide one-on-one support for law practices moving to CosmoLex from existing management and accounting software for a nominal fee.
Aimed at small and medium-sized firms handling businesses focused on clients, Avaza is ideal for tracking timesheets, expenses, providing quotations, generating invoices, etc. With an option to view data in the form of Kanban boards, this cloud accounting software provides powerful reporting features. Since it is web-based, it can be accessed from anywhere, on any device.
It also allows users to exchange emails and messages within the platform to speed up data entry. It also supports credit card and PayPal transactions, records split payments, can handle foreign currency inputs, and lets users share files and collaborate on projects as and when required.
It is an online HR platform designed to assist small and medium businesses with the administration of employee benefits, maintaining salary and insurance payout details, hiring, training, etc. It has a single dashboard user interface that places all the available tools and features in one place, thus allowing easy navigation for both employers and staff.
Any changes made to existing information are applied seamlessly across the platform thus ensuring that companies always maintain up-to-date employee data. With its time entry and approval processes, it ensures minimal accounting errors and also ensures that hourly employees are paid their fair dues on time.
It is the accounting software that is accessed by 2ndSite Inc. FreshBooks is designed for small as well as for medium-sized businesses. You can easily access this web-based software either from the desktop or from the mobile. This Cloud accounting platform is available in twelve different languages for the users.
It offers numerous features. One of the components is a subscription-based product. It includes invoicing, time tracking, purchase order, payroll integrations, and many more. All your crucial data is stored in a single unified ledger. You can easily access the unified ledge either from the desktop or monitor.
It is a good and prominent cloud-based accounting software that is established for the small and medium-sized business. The latest version of the Xero ios is boon on iPhone users. It offers the feature of custom layouts for the iPad. You can easily reconcile the exclusive transaction and add the receipts on the iPhone or iPad.
In addition to it, this app also gives the facility to add as well as delete the payments that are of unpaid voices. Moreover, with Xero, it is possible to make and delete the payments of unpaid voices. Xero helps to assign the billable expenses to the clients.
This Cloud-based accounting solution is ideal for all size firms that may be small or medium. It includes the features of estimation, accounting, purchase, management, payroll, credit, control as well as reporting. When the payment is pending, then the user can make the invoices and get the alerts related to email. It also handles the automatic remainder of the debtors.
In addition to it, this accounting solution graphically represents the balance sheets, debtors as well as creditors, history reports of the customer, transactions and balance. It can be integrated with e-commerce, payment processors, payroll software, customer relationship management and inventory management software.
9. Financial Foreign Accounting
The leading cloud financial accounting software is an ideal solution for complex business requirements. It is an application that is integrated into the Salesforce platform. It offers the end to end solutions for a fraction of cost. It also has the feature of a Salesforce accounting app that enhances the ERP power of the Financial Force. In addition to it, this application offers numerous features to the users.
These features include Audit Trail, Accounts Payable, General Ledger, Depreciation, E-commerce, Credit card processing, check to print, Invoices, and many more.
It is an accounting program with the feature of the double-entry bookkeeping system. It includes the feature of small business accounting which is fruitful for all the users. The scheduled transactions, HBCI support, SQL Support, Multi-currency transaction handling, and check printing are the features of this accounting program. In addition to it, the list of features is not only limited in these features. Except for these features, it offers a wide range of facilities.
These consist of Double-entry bookkeeping, Mortgage and loan repayment assistance, Built-in and custom reports and charts, OFX, QIF Import, CSV Import, and Bank and Credit Card Reconciliation.
With this, we conclude our catalog of the best iOS apps for accounting services. The importance of using accounting systems to keep track of transactions is tantamount, regardless of whether you run a small, medium, or large scale business. However, it was not possible for all organizations to do so, due to the lack of resources and knowledge.
Thankfully, accounting apps emerged, which made accounting systems accessible, user-friendly, affordable, and simple to use. We hope that with this article, you found all the information you need as well as a suitable app to suit your bookkeeping needs.