Mobile Accounting Apps: Pros and Cons!
Gone is the era when managing accounts and finances meant investing time in spreadsheets or accumulating receipts. Today, your accounting system can reside in your pocket and travel wherever you go—all thanks to mobile accounting apps.
It doesn’t matter if you are a freelancer sending invoices while sipping your coffee at Starbucks or a CEO of a small business reconciling bills during meetings—mobile accounting software guarantees speed, simplicity, and minimized paperwork.
But remarkable convenience comes with a few responsibilities and glitches, too. Let’s peek into this insightful article to understand if mobile accounting apps are the real game changer for you or seem to be just an application cluttering your phone. Scroll down right away to see if you need to swipe left on the software or if you really need them.
Why Do You Need Mobile Accounting Software?
- Tracking income and expenses
- Sending and managing invoices
- Reconciling bank transactions
- Monitoring cash flow
- Filing taxes
Mobile Accounting Software: 10 Benefits You Didn’t Know!
You think accounting solutions on your mobile are just about sending invoices from anywhere? Give a thought again! These power-packed mobile bookkeeping apps work way behind the scenes! Right from cost control to streamlined finances, they serve you with everything!
Are you ready to discover the hidden pros? Let’s get started!
1. Anywhere and Anytime Access!
Manage your accounting on the go from wherever you want. Doesn’t matter of you are on a world tour, in a business meeting, or working remotely from your home. To manage invoices, records, compliance, e-way bills, and more efficiently; all you need is just a smart phone and an active internet connection.
2. Real-time Updates!
The best accounting app for mobile will synchronize immediately with your data facilitating you to monitor expenses, invoices, and cash flow in real time. It also keeps you updated with the recent compliance news and alerts.
3. Intuitive Interface!
Most of the mobile accounting apps are designed and developed keeping simplicity as the top priority. Insightful dashboards, quick navigation, and detailed reports ensure streamlined accounting processes.
4. Quick Payments and Invoicing!
Mobile accounting allows creating, sending, and tracking invoices in a flash. A few of the software facilitate multiple payment getaways enabling convenient transactions and encourage payments on time.
5. Cost-efficient for Everyone!
Most of the mobile bookkeeping apps are free to use or show-up affordable pricing modules. Small businesses and freelancers find it a smart solution eliminating the need to get full-fledged desktop software.
6. Backup With Cloud!
Backup your financial data automatically in the cloud and reduce the risk associated with information loss.
7. Multi-device Sync!
The best accounting app for mobile allows you to flexibly switch between multiple devices. It ensures seamless data continuity while you hop from your mobile to a tablet or laptop. Automatic sync across all platforms forms seamless access to all the features.
8. Tool Integration!
Most of the mobile applications integrate with banking software, CRMs, payroll systems, and inventory solutions. This allows businesses to construct a connected ecosystem.
9. Alerts and Notifications!
Ensure instant alerts for filing deadlines, low balance, payments, overdue invoices, and other important financial triggers. Mobile accounting software sets an instant alert for important updates, so that you don’t miss out on any.
10. Eco-Friendly Solution!
Eliminate printed ledger and paper invoices, with these handy accounting applications. It supports digitized records, paperless invoices, and simplified audits.
Mobile Accounting Apps: Cons You Should Keep a Check On!
While cloud accounting software gives flexibility and freedom, it comes with drawbacks, too. If not used with care, they can trip you into risks too.
Let’s check out cons of accounting software for mobile applications, so that you can stay smart, secure, and in control.
1. Limited Features!
Mobile software often comes with minimalistic versions of desktop solutions. Advanced features like bulk actions, customized reporting, or even add-on integrations will be missing.
2. Small Screen!
Working on a small screen can be frustrating when it comes to detailed financial and accounting tasks. It lowers down the efficiency and you are more likely to make mistakes while reviewing reports or even entering data.
3. Security Risk!
Mobile accounting apps are more vulnerable to security thefts, hacking attempts, and unauthorized access to data. If you fail to protect your mobile phone, sensitive financial information, your software might get exposed to hackers.
4. Battery and Performance Drain!
Compared to desktop accounting software, mobile applications drain out more battery. Frequent use of these accounting software can affect your battery life and slow down your phone.
5. Accidental Errors!
Smart phones often lead to unintentional errors due to touchscreen typing, minor input fields, and auto-correct tools.
Do Mobile Accounting Apps Make a Great Choice?
Yes, Mobile accounting apps are a great choice for freelancers and small businesses who wish to manage their finances on the go. These applications ensure anywhere and anytime access to invoicing, expense tracking, and cashflow monitoring.
However, mobile accounting software doesn’t form the complete solution as desktop software. Large businesses with complex accounting needs should opt for desktop accounting software with advanced features. With limitations in security, screen size, features, etc., mobile applications are best as a complement but can’t be a complete replacement to desktop software- unless you need basic features.
Conclusion
Hopefully, you have understood the pros and cons of Mobile accounting apps! Mobile apps can be better for small businesses and freelancers, but large businesses should go ahead with desktop software.
If you are looking for remarkable accounting software, Munim is the best choice for you! Sign up today!
FAQs
Can I do bookkeeping on my phone?
You can use a mobile bookkeeping app to ensure speedy record maintenance on your phone.
Can I get mobile accounting apps for free?
Yes, there are a few mobile accounting software available for free, while a few have cost-efficient subscription modules.
Is it better to manage invoices on paper or by phone?
Managing invoices on your smartphone helps you receive, track, and manage them on the go. So, mobile accounting apps are way better than traditional methods of invoicing.
Is managing Excel on a phone better than having a mobile accounting app?
Using Excel can create clutter and be confusing for massive data. These mobile apps are rated better than Excel.
