Whether you're just starting out or already deep into your career as a virtual assistant, staying on top of financial reporting and expense tracking is essential for determining client fees, assessing profits, calculating payable taxes, and much more.

‍

Furthermore, as a virtual assistant, you might find yourself tasked with handling your clients' finances. Many business owners seek to delegate tasks such as invoice preparation, sales transaction recording, and receipt filing to virtual assistants like yourself. While these tasks can be managed manually, leveraging specialized tools can significantly streamline the process.

‍

That's why we've curated a selection of top-notch invoicing and financial management tools designed to simplify digital filing and accounting tasks, empowering you to focus on what you do best: providing exceptional virtual assistance.

‍

Examples of invoicing and financial management tools

‍

QuickBooks is a popular accounting and financial management software that helps businesses with invoicing, expense tracking, and financial reporting. This tool helps you manage your finances across multiple accounts such as VISA, AMEX, MasterCard, and many more. You are saved multiple hours of working across several platforms by linking them to one single tool, QuickBooks. 

‍

Are you worried about creating different kinds of invoices for clients? QuickBooks helps you customize invoices and design them to fit your requirements. You can also simply keep track of your expenditure by tracking your expenses on QuickBooks. You need not to worry about going after late-paying clients day in and day out. QuickBooks allows you to send automated reminders on late payments while also tracking invoice payments in real time. You can also set up recurring invoices and save yourself from the hassle of having to remember every day. Just set it and forget, QuickBooks will handle the rest.

‍

Furthermore, QuickBooks helps you with your filing and staying organized. Save and attach your receipts to your incurred expenses with ease. This way, you are able to account for every penny you spend. QuickBooks’ inventory management also helps to keep tabs on what you have and what you will need as you offer your services. 

‍

Features

• Invoicing 
• Invoice translation 
• Inventory management 
• Digital filing of receipts
• Report generation
• Financial accounts linkage
• Multi-currency support
• Automatic tax calculation 
• Integration with your bank accounts

‍

Pricing

With three payment plans, QuickBooks offers you varied plans that fit your wallet. The Simple Start payment plan costs $18 per month with a discount of $17 for the first three months. This plan helps you track VAT and GST, generate insights and reports, and many more. The Essentials plan costs $27 per month with a discount of $26 in the first three months. This package allows you to work with multiple currencies and manage bills and payments. The Plus plan costs $38 per month and allows you to set up recurring invoices and bills. This package also costs only $1 for the first three months.

‍

‍

FreshBooks is an invoicing and accounting software designed for small businesses, offering features for invoicing, expense tracking, and time management. This software makes billing and payment easy for you. It helps you generate professional invoices that show work done, time taken, and costs incurred. Such invoices easily impress clients and allow you to showcase your work with a high level of professionalism. FreshBooks also seeks to tailor your invoices according to the size of your business and your general requirements. 

‍

As you work across different platforms, FreshBooks has you covered. FreshBooks integrates with over 100 applications such as Zoom, Google, and many more. This helps you streamline your tasks and work better with teams and clients. You can also set up your team and assign roles to members. You can easily create billable rates for each team member and manage their permissions. 

‍

Additionally, you can easily estimate costs of your projects and easily work with clients on bills. This way, you are able plan effectively even before you get going. You can also track time and use that to bill your clients.

‍

Features 

• Invoicing for different business sizes
• In-app estimates
• Team management 
• Time tracking
• Multi-app integration 
• Automated invoice reminders
• Expense tracking
• Multi-currency billing
• Automated tax calculation 

‍

Pricing 

Freshbooks offers three pricing packages across the globe. The Starter package costs $29 per month and has features that allow you to capture receipts and bills and many more. The Standard package costs $46 per month while the Premium package costs $62 per month. The latter allows you to use multiple currencies.

‍

‍

Xero is a small business accounting software that allows you to track expenses, accept payments, and file, all in one place. With this tool, you can do more in less time, enabling you to focus on other vital tasks.

‍

Xero's intuitive invoicing software allows you to create and customize invoices, set reminders, and offer customers varied payment methods, all from your desktop. You can create several invoice templates and find one that best fits your brand, add your logo, and add sections to your invoice. You can also add varied payment methods to accommodate your clients. Customize your invoice to enatail payment sections such as credit cards, debit cards, and many more.

‍

Keeping track of your stock is also made easier by Xero's inventory management tool. You can easily monitor the value of the items you have in store while checking the market for what sells best. This data helps you make informed decisions on what to sell and whatto keep.

‍

Features 

• Invoicing 
• Inventory management 
• Expense management 
• Bank accounts linkage
• Payment accepting 
• Payroll management 
• Reporting 
• Multi-currency accounting 
• Automated tax calculation 

‍

Pricing 

Xero's three payment plans include Early, Growing, and Established. These plans offer a variety of features with each package offering a wide variety of features that help with your accounting. The Early plan costs $15 per month while the Growing plan costs $42 per month. The Established plan costs $78 per month and offers additional features such as project tracking and use of multiple currencies. 

‍

‍

Sage Intacct is an accounting tool that seamlessly syncs auto-captured data from invoices, receipts, purchase orders, and bills. Sage helps you save time on manual data entry by getting the necessary information from your documents in a flash. You no longer have to worry about updating spreadsheets and going through hundreds of documents with every transaction. The retrieved information is then neatly organized for you. Say goodbye to manual data entry!

‍

Furthermore, you can easily set reminders for invoices that require your action and never miss a payment deadline. You can also integrate this software with all the applications you love such as QuickBooks, Stripe, Slack, and more.

‍

Features 

• Multi-app integration 
• Reminders
• Inventory management 
• Multi-entity consolidation 
• Reporting 
• Project tracking 
• Analytics 

‍

Pricing 

Sage Intacct is one of Sage's many tools that are offered under varied payment plans. The Starter Edition costs $450 per month while the Small Business Edition costs $950 per month. The Standard Edition costs $1200 per month and the Enterprise Edition costs $4,825 per month.

‍

‍

Procurify is your go-to tool that helps you in accounting for your revenue, expenses, invoices, and tracking reports. This tool allows you to process invoices and generate bills in less than no time. You, therefore, have more time at hand to handle your other important tasks. You can also approve, process, or schedule payments from the comfort of your home.

‍

Additionally, Procurify helps you keep track of your expenses, revenue, and projects. You choose what payments to approve, enabling you to get a grip on your expenses. You can also manage your contract with clients using its contract management feature.

‍

Features

• Contract management 
• Invoicing 
• Expense management 
• Multi-app integration 
• Invoice approvals
• Reporting 
• Make payments 
• Budget management 

‍

Pricing 

To get pricing details, reach out to Procurify’s sales team.

‍

‍

Zoho Books is an online accounting software that helps you track your finances, create professional invoices, and manage team work. This tool arms you with a powerful invoicing tool, Zoho Invoice, which allows you to create well-designed invoices from a wide variety of templates. Creating such impressive invoices sells your brand, builds customer trust, and encourages payment. With its customization features, you are able to personalize your invoices by including your logo and more. You can also add several payment options to your invoice, ensuring you can accommodate a large group of clients. Get your payments on time with these brilliant features from Zoho Books.

‍

Looking to work with multiple people on a single project? Zoho Books intuitive interface easily allows you to add people and collaborate on the platform. The platform also integrates with 50+ apps that you love. This allows you to manage all your tasks from a central place, doing away with the time you spend moving from app to app. 

‍

Additionally, Zoho Books helps you manage your expenses from internet purchases, office supplies, and more. You can easily monitor your spend on the platform's user-friendly dashboard. Zoho Books allows you to set up recurring expenses, sit back, and watch Zoho Books update your expenses at the desired intervals. You can also attach receipts to your expense list for accountability. Zoho Books keeps expense management simple.

‍

Features 

• Invoicing 
• Expense management 
• Collaboration 
• Online payments
• Inventory management 
• Bank account linkage
• Automate recurring tasks
• Bill approvals
• Digital filing 

‍

Pricing 

Zoho Books offers a wide variety of payment plans, giving you a chance to work with what best suits you. A free version of the platform is available and has features such as setting up recurring invoices. The Standard version costs €12 while the Professional version costs €24, all billed monthly. Both versions entail game-changer features such as transaction locking and bulk updates. The Premium version costs €36, Elite costs €129, and the Ultimate version costs €246 when charged monthly.

‍

‍

While we picked these tools and software designed to help you manage your invoices, expenses, and financial accountancy, we urge you to explore more tools and find what works best for you.

If you liked this article, you might also want to read this comprehensive article about “Essential tools for virtual assistants”. If you are a virtual assistant, you can join our FREE community of online professionals using this link https://www.runnovate.com/community.

‍