Best Business Budgeting Software & Solutions For Small Businesses in 2021. A budgeting software solution is very important for every small business: It helps the accounting department effectively manage its finances and financial activities.
For a business to thrive in these modern times, automation is necessary. Through automating various tasks, employees would have more time to focus on other important tasks.
Do you have a budget for your business? If not, it may be worthwhile to create one. Budgets help companies plan their cash flows. Managing a budget was a difficult task before software emerged to handle the job.
Budgeting software takes away the excuse of not using a budget. These software packages can help business owners manage their budget faster than if they did it manually. It makes updates to the budget a breeze.
In this post, you’ll learn why budgeting is crucial to growing your business. We’ll also cover the advantages of budget software and the best budgeting software options available.
QuickBooks – Best Business Budgeting Software in 2021
QuickBooks tops the list of the best business software solutions for accounting and budgeting tasks. QuickBooks is accessible on any device, and it has different versions. Thanks to its intuitiveness, depth features, flexibility, and extensive support for 3rd-party integrations, it is an ideal option for small businesses.
The budgeting module in QuickBooks allows you to create several reports. They include overview reports and comparisons. The comparison reports are further broken down by periods, depending on how you want to view the data. You can also view graphical representations of your budgets.
QuickBooks is designed for all businesses and all users; the interface is simple to understand and navigate. The QuickBooks software offer on-premises accounting and budgeting applications, as well as cloud-based solutions. Using QuickBooks applications, small businesses can conveniently receive payments, manage their finances, and get insights for making budgeting decisions.
Mint – free financial solution
Mint is a free financial solution. The service is geared towards individuals, but small business owners can use it as well. In fact, the company published an article that describes how Mint can be used for small businesses.
The appeal of Mint is it helps users consolidate their finances into one place. It can be used for creating budgets, paying bills, and checking your credit score.
The company claims to help you save money by displaying the latest financial offers. If you’re looking for attractive financing rates or other offers, this could be useful. It’s advertising, however.
Mint is owned by Intuit, which is the same company that owns QuickBooks. If you’re concerned about security, the company assures that it’s safe and uses techniques that meet industry standards. If your financial institution determines that Mint was the cause of any problems, however, they could deny any claims you submit. This is true for all solutions that you integrate with your financial institutions.
Mint advertises the software to users and sells aggregated data to other companies. This is how the company generates income. Mint doesn’t have accounting features, and the reporting aspects are not robust.
Centage is a business budgeting software solution for all kinds of businesses, regardless of the size and sector. It is an all-in-one budgeting solution featuring a bunch of useful tools for financial reporting, forecasting, and many other business finance management tasks. With Centage, your business may never need an additional account or budgeting software solution.
Generally, the centage software offers business planning, forecasting, and budgeting solutions. It is easy to set up, easy to use, and supports seamless collaboration. The reporting and analytics tools provide detailed information that helps to make intelligent business finance decisions or predictions.
NetSuite by Oracle – Accounting software
NetSuite by Oracle is a reliable accounting software packed with a ton of features. In addition, NetSuite offers cloud ERP solutions for small businesses. It is a comprehensive business solution for handling all accounting and financial tasks. Oracle NetSuite integrates with several other business software apps for more functionality.
One of the impressive features of this software is the simplified interface. Whether you’re an eCommerce business or operating in any industry, NetSuite is designed for all businesses. Interestingly, it also works perfectly for enterprises. You can reach out to the support at any time for assistance – they respond swiftly.
PlanGuru is a financial reporting solution that has budgeting as a core feature. It isn’t an accounting package, however. The software imports data from other packages, such as QuickBooks and Xero.
As budgeting is a main component of the software, the features are robust. The company states that it offers high-end features without the high cost.
Within the software, users can click on video tutorials of each section. The videos pop up as a separate window, and when completed, the interface continues where it left off. This feature helps reduce confusion when using the solution.
One of the strongest features this package offers is the ability to create cash flow forecasts from balance sheets and income statements. This function helps with strategic planning and what-if analysis.
Scoro – Budgeting software 2021
The Scoro budgeting app is designed with small businesses in mind. It comes with budgeting and business management tools. Scoro budgeting software supports intelligent forecasting, along with intuitive tools for obtaining useful financial reports & analyses. Furthermore, this software solution allows unlimited project budgets and offers a financial KPI dashboard for tracking various activities.
With Scoro budgeting software, invoices and professional services automation are a breeze. Basically, Scoro is more than just a business budgeting software as it provides a lot of tools for managing your entire business operations.