Money apps for small businesses

Find out more about money apps that could help run your small business.

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Money apps for small South African businesses

Life is busy, especially when you are an underdog hustling to become a household name. Apps like money apps help make life and business easier every day.

Are you new to money apps? A money app can help you to better manage your personal or business money on your phone or tablet. This includes financial transactions like debit orders, payments, sales, other business management features, and so on.

We got the lowdown about money apps from Eric, the owner of a pesticide consultancy. We asked him some popular questions, and he gave us valuable insights.

Get first-hand insights into Eric's business experiences with his answers to our popular questions about money apps.

Do you use a money app for your business?

“Yes, I use two different money apps to manage my business transactions from my two business bank accounts. It is great to look at my business’s money if needed while you are out. But, unfortunately, not all money apps are great. My one business bank app is quite limited - it doesn’t offer the same features as online business banking on my laptop. That being said, you could do it all on your phone these days.

"Also, it is useful if the app is ‘zero rated’, which means it doesn’t use your mobile data, and that’s handy for those times when you run out of mobile data. 

"I know I need to spend some time finding an all-in-one money app, but I just haven’t gotten around to it yet.

"I would recommend that business owners first look at their business needs. What do you think you could be better at? What do you need help with? Also, get good business advice. Then, find the money app or apps that can help you best."

Do you use your phone or computer to manage your business’s money?

“It depends. For big jobs, I prefer online banking on my laptop. For a quick look, I prefer my money app using my phone.”

What is your top reason for using a money app?

“To confirm that I have received payments from my clients while I’m out of the office. I manage my business finances more from my laptop. Some banks have incredible money apps that make life much easier. It might also be a preference - some people love to do everything on their phones and apps make it all happen.”

Do you want to know more about money apps? Keep reading to find out more.

Learn more about money apps 

Why do we need money apps? Money apps provide you with current balances of any investments, accounts or debts, and the history of all your transactions. The real strength of a money app is that it provides you with actual data instead of relying on your memory.

There are the usual money apps used to manage bank accounts, and other money apps have extra features to help you run your business. Small business owners also need to manage their personal finances, so we mention that type of money app for you.

The free 22seven app

The 22seven app offers great features and is available for Android and iOS devices. The app’s strong point is that it gives you automatically a thorough overview of your budget and finances.

Banking apps

South Africa’s top banks usually offer useful apps to their personal and business clients for free. Speak to your bank about what money apps they have to help you with your business and personal needs if you aren’t sure.

Accounting apps

Are you thinking of getting into the accounting side of your business in a serious way? Companies like Sage and Quickbooks offer useful apps to help you manage the financial side of your business and more. Some apps offer free trials to see if it works for you before you pay over a single cent.

The Yoco app

How many of you business dudes have heard about the Yoco app? A great pity if you haven’t. It saves you big headaches when it comes to all that admin and frees up your time to grow your sales and brand. So read on further and see how the Yoco app can get your small business to explode.

What are the many things the Yoco app can do for you?

All your transactions together on the Yoco app

  • What a pleasure to see all your transactions all in one viewing -such as mobile, card, online or cash. Your valuable customers can pay quickly and safely using moolah, or by card using the Yoco Pro, Yoco Go, or Yoco Neo machine. They can also pay Apple Pay or online using the Yoco payment link. Then, use the sales information to make improvements to make your business shine like crazy.

Organise information about all your products with the Yoco app

  • When a customer asks you for an item’s price, you won't look stupid by not being able to answer. Instead, you can find the item quickly, no matter how insignificant it may be. So, the app will help you sort your products like clothes by brand, type and size. 

Let the Yoco app help you keep track of your inventory and stock

  • You don’t have to stress about closing your shop temporarily while trying to stock take manually for hours and hours. Instead, the Yoco app does it all for you!

The Yoco app lets you see your complete sales history?

  • This is the only way to keep track of your whole sales history. You can see each transaction, time and date, items you sold, payments, and the Value Added Tax (VAT) amount.

Easily manage your team with the Yoco app

  • You can add staff members to the app to allow them to make transactions. Because staff need a PIN to access the app, everything is secure.

Use less paper with the Yoco app

  • No longer do you need to use paper for giving your customers their payment receipts. Just SMS or email receipts using the app. If you really want to print on paper, use Bluetooth to connect to your printer. 

Send unlimited free invoices

  • Yoco Invoices is a useful tool on the Yoco app that lets you create an unlimited number of free, professional-looking invoices for your small business.

Any questions about how to use the Yoco app?

Take your business to new heights. Find and use the right apps for your business needs to help you on your way to becoming a household name.

Source: The four best South African apps to help you manage your money

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