Own a Bookkeeping Firm? Here Are 5 Canadian Apps That Will Help You
Discover 5 must-have Canadian applications to optimize your bookkeeping firm’s workflow.
Adopting the latest technologies can make a significant difference in improving work efficiency and productivity. The technological shift and changes seen in the accounting industry over the past decade are here to stay. Cloud technologies can now be integrated into nearly every stage of accounting work, enabling business process automation and freeing time to focus on client experience and business growth.
1 - Wagepoint
Based in Calgary, Wagepoint is an excellent payroll solution for small businesses. The application simplifies and automates the end-to-end payroll process, calculating employee compensation, vacation pay, employment insurance, and various deductions. It automates tax withholdings and year-end taxes without manual intervention.
The platform includes time tracking functionality allowing employees to enter hours digitally, with automatic calculation and manager approval. Their payroll solution integrates seamlessly with QuickBooks Online and Xero, eliminating manual payroll entry and reducing transcription errors.
2 - Hubdoc
Acquired by Xero in 2017, Hubdoc specializes in receipt and expense management. Users can photograph receipts, and the application automatically extracts key information and stores it in the cloud. Hubdoc integrates directly with QBO and Xero, enabling automatic expense categorization.
3 - Plooto
Based in Toronto, Plooto manages all payments comprehensively. The application automatically manages your accounts payable and receivable and processes them in real time. Users can add clients and suppliers to the platform and process payments via cheque, credit card, electronic transfer, ACH, or EFT.
4 - Budgeto
Founded in Quebec, Budgeto is a financial planning and budget management system. The application allows business managers to make better financial projections to better plan their year. It integrates with QuickBooks Online for a seamless, fully online experience.
Users fill various forms for sales, expenses, new employees, or financing requests. These connect directly to budgets, with financial projections adjusting automatically. A special feature called "Click-Click Boom" uses historical QuickBooks/Xero data to generate financial projections in two clicks.
5 - Helm
Located in Calgary, Helm is a cash flow management solution ensuring sufficient liquidity to pay suppliers and employees. The application integrates directly with QuickBooks Online and bank accounts. The algorithm identifies liquidity bottlenecks.