Monday Mentions is a weekly roundup of my favorite free (or cheap) apps, softwares and products.
Holy Crap! Can you believe we are in the last two months of 2018? This year absolutely flew by. If you are anything like me, then the anxiety of year-end and tax season coming up is already settling in. With my accounting background, I am always on the hunt for apps that will help me on the bookkeeping aspect of my business. I have found three that have been total lifesavers for me, so I wanted to share them with you, too!
MileIQ – If you travel AT ALL for your business, mileage can be one of THE HARDEST things to keep track of. You go through your calendar and use google maps to calculate how long the trip was, keep track of it in a notebook…UGH it is all such a pain. MileIQ to the rescue! This is an app that runs in the background and actually tracks when your car starts and stops moving. You can then go into the app and swipe right or left depending on if that drive was personal or business related. At the end of the month, it puts everything into a report and emails it to you. You can also do this at the end of the year as well. It even calculates the IRS mileage rate so if you need to bill a client for your mileage, it’s done for you. GAME.CHANGER.
Expensify – If tracking your receipts and expenses is the most annoying task on the planet for you, download this app. With Expensify, you simply take a picture of your receipt. It can either scan the receipt and expense it for you, or you can manually enter the information. It then creates reports that you can import into your accounting software or send to your CPA. And the best part? It’s free!
Acorns – As entrepreneurs, saving any kind of money can be difficult. We are always finding other things to spend our money on. If you aren’t ready for an IRA or some kind of long-term investment, Acorns is a good option for you. Acorns automatically “rounds up” your purchases and invests them for you. Is this ever going to create a retirement account for you? Absolutely not, but it is a nice way to put your saving on auto pilot. Another huge perk – because it is after tax dollars, you can withdraw the money anytime, making it a great way to save for a vacation or a big business expense.
Between MileIQ, Expensify, and Acorns, my end of year anxiety (and to-do list) has been lightened. They also help throughout the year to get a quick snapshot of where I’m at in business. When you aren’t tracking your mileage and expenses accurately, you could be undercharging or not invoicing customers properly—aka–losing money. We aren’t in business to lose money, so set these apps in motion to make your life easier and MAKE you more money!
Do you have an app you love that helps keep your accounting and finances in line? Comment and tell me below!