7 Tools To Track Your Business Financials

Big confession. Finances are not my strongest points. I’m in business because I enjoy working out the technical kinks for people and developing tech related products and services. Not to be an accountant. I also have a tendency to ignore it – which of course is not very good. That’s why I 100% outsource this. But what if you’re the type who doesn’t mind crunching the numbers?

This is not to be confused with a shopping cart or billing system. While some billing systems and shopping carts do give you financial reports like sales and what invoices you are owed, they do not always carry your expenses. You’ll still need to export and plug these into a book keeping system so you can track the actual profit or loss after expenses.

Here’s what we found that can help.

  • Outright. This is looking very interesting indeed and even though I outsource this now, I am very tempted to check it out. It even helps you with taxes and issuing 1099’s, plus the price is free.
  • Simply Accounting Express. This is a free version. There are various levels of upgrades starting at $49.99
  • GnuCash. Free open source accounting software for PC, Linux and Mac.
  • Less Accounting. Plans starting at $12 a month. Integrates with Basecamp, PayPal and banks.
  • Xero. Plans start at $19 a month for business.

Of course, we can’t go without mentioning long time leaders like Quickbooks Online and Peachtree.

By the way, my bookkeeper tells me she is currently taking new clients. She’s awesome, very helpful, detailed oriented and FAST. Plus, she holds a day job as an accountant so she really knows what she’s doing. If you’re in the market to outsource your business financial record keeping, put your request in the comments. Make sure you enter a valid email address and I’ll pass your contact information on to her.

Image by Darren Shaw

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7 Comments

  1. Anne Elliott on July 1, 2010 at 10:19 pm

    please pass my info on to your bookkeeper! anne@anneelliott.com Thank you for this post, by the way. This is so helpful!



  2. Meredith on July 1, 2010 at 11:00 pm

    I have been a happy Outright user for a few years. I love how it integrates with Freshbooks and Paypal!



  3. Emm Jay on July 2, 2010 at 7:58 am

    I like the simplicity of GNUCash. It may look to plain but in reality, there are some customizations available that helps me maximize my finance management.



  4. Lynette Chandler on July 2, 2010 at 5:47 pm

    Awesome Anne, I just sent her an email. Please do be on the look out for an email from Hooi Imm.



  5. Lynette Chandler on July 2, 2010 at 5:48 pm

    That's good to hear Meredith. I just knew it would be a pretty good tool



  6. Lynette Chandler on July 2, 2010 at 5:51 pm

    Hey Emm Jay. Glad to hear GNUCash works for you. I did try it a few years ago. I wanted something that was also web based so me and my book keeper could share it. In the end I just let go of it all completely to my much trusted book keeper that was HARD for this control freak 🙂



  7. Yvonne Griffiths on August 3, 2010 at 9:02 pm

    Please pass my info on to your bookkeeper as well. Thanks. Yvonne Griffiths.