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5 best free financial tools for business

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedNov 20202 min read

As a start-up, it's vitally important to have the right tools for the job. Effective financial tools for business can help you cut costs, save time, and ensure that your business runs as smoothly as possible. Find out everything you need to know with our guide to the 5 best business tools for start-ups.

1. Mint

Mint is one of the best free online business tools on the market. So, what does it do? Essentially, it's a budget planner that provides you with a way to manage all your finances in one place. Powered by Intuit (the creators of QuickBooks and TurboTax), the app shows users an overview of their budget, bills, spending, and credit score, making it an excellent way to stay on top of your business's day to day finances. Features of this free online business tool include the ability to create a budget, set goals and reminders, and sync your data between apps and the web. Furthermore, Mint has a portfolio and investment tracker that allows you to keep a close eye on all your accounts.

2. Personal Capital

Offering software for tracking investments and planning your retirement, Personal Capital is an excellent free online business tool to explore. There are multiple features to explore, including analytics for cash flow, budgeting, spending, and net worth. It's an excellent way to organise your long-term financial planning, and with multiple layers of security, your financial data is always safe and secure. However, it's also worth noting that Personal Capital's budgeting components aren't quite as robust as other start-up business tools, so if you aren't an investor, this may not be the best business tool for your start-up.

3. GnuCash

As a free online business tool for small business accounting, GnuCash is perfectly placed to help you handle double-entry bookkeeping, the production of accounting reports, and scheduled transactions. Furthermore, GnuCash is one of the best tools for start-ups looking to manage payroll and statement reconciliation more effectively.

4. Hubstaff

For easy and accurate time-tracking, Hubstaff is the ideal start-up business tool to add to your repertoire. HubStaff provides you with the capacity to monitor an unlimited range of programs, take automatic screenshots (to prove that work is being completed), and produce detailed online timesheets. Furthermore, Hubstaff offers payroll software that allows you to automate and send payments quickly and effectively. In short, it's one of the best tools for start-ups looking to boost productivity and manage employees. However, it's worth noting that Hubstaff isn't a free online business tool (aside from a 14-day demo period), so depending on your team's size, it could represent a fairly sizable investment.

5. Zoho

Finally, there's Zoho. As a GoCardless partner, Zoho is ideal for any small businesses already using our automated payment solution. Offering a full suite of online productivity tools and SaaS applications, Zoho is one of the best tools for start-ups seeking a way to run their entire business from one central location. One of the critical areas that Zoho can help to improve is company cards. Integrating with many popular credit card companies, users can upload receipts, set per diem rates, and convert expenses to any currency. However, Zoho isn't a free online business tool, so you'll need to weigh up the financial impact of investing, particularly if you're dealing with tight margins.

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