10 Great Mobile Apps to Manage Your Business Finances

10 Great Mobile Apps to Manage Your Business Finances

Square is an excellent point-of-sale (POS) app for small businesses that accept credit cards and those that have an online store or website presence. You set up the Square software on your computer and the mobile app on your phone or another mobile device, like a tablet. Here are some of the ways in which Square works:

  • It helps you manage your inventory and keep track of all your items.
  • It not only allows for mobile credit card payments, but it also allows you to do business online since you can set up an online store.
  • Square can also prepare reports regarding your inventory and your point-of-sale transactions.

You can use the software if you are accepting payments at your storefront. If you are accepting payments away from your store, you can use the app on the phone or tablet. In addition, You just swipe the customer's credit card on the card reader for contact-free payments, the customer can swipe the card. The app then uses the Square proprietary software and card reader to record the transaction.

Another benefit of using Square for your point-of-sale transactions is that you can set up an online store with online transaction capability. Square is compatible with a number of other apps, including delivery apps that you can access through the Square dashboard. Square also supports inventory management, particularly for retailers.

The Square app is free and Square also gives you a free credit card reader. Transactions are credited to your account within one or two days and the charge is 2.75% for each card swipe. You also do not need a merchant account, so there are significant savings over traditional processing.

Square can also help you collect customer email addresses because you can email or text a receipt immediately.

There is no charge for cash or check transactions using Square and it gives you a daily sales report for everything. It is, in a sense, a mobile cash register.

Because it's inexpensive and easy to use, many small businesses are choosing to use Square in their brick-and-mortar stores. It is one of the best apps for mobile credit card transactions. It does have some downsides:

  • A lot of transactions seem to be abandoned when using Square, so business managers have to watch out for that.
  • It is not good for bulk transactions.
  • It can also be expensive if you have a heavy sales volume since it costs 2.75% or above for each transaction.

It is compatible with both the Windows and Mac operating systems. The only thing you need is the Square card reader with regard to equipment.

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