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7 Productivity Tools to Boost the Efficiency of Your Small Business

If you’re running a small business, you know how overwhelming it can be to keep up with all the tasks that need to be done every day. That’s why automation using productivity tools is crucial for your business because it ensures everything is accomplished efficiently and effectively.  So, whether you’re looking to increase your team’s effectiveness or simply become more organized, our selection of time-saving resources will provide you with the right answers. Productivity Tools to Boost Business Efficiency #1 Trello Trello is an online project management tool that helps small businesses organize and prioritize their tasks. It allows you to create boards, lists, and cards, which you can use to track progress and collaborate with team members. It also lets you integrate with other productivity tools such as Slack, Google Drive, and Dropbox for your business. Benefits for Small Businesses It makes you save time by creating lists, delegating work, and monitoring the task until its completion. Here are some other benefits: #2 Asana Asana is another project management tool that lets you manage your tasks, projects, and teams. It offers a variety of features, including task assignments, deadlines, and progress tracking. You can integrate it with other productivity tools such as Slack, Google Drive, and Dropbox. Benefits for Small Businesses You can use it to increase transparency in employee tasks and efficiency, streamline processes, and simplify routines. Here are some added benefits: #3 Buffer Buffer is a social media management platform that provides affordable, intuitive marketing tools for small businesses. It lets you integrate with Facebook, LinkedIn, Twitter, Pinterest, TikTok, etc. Benefits for Small Businesses You can use the platform’s built-in posting, interaction, and social media tracking tools to grow your native user base. The capabilities of Buffer include the following: #4 Metric Metric is a financial intelligence app that allows you to monitor important financial metrics such as revenue, expenses, profit, average order value (AOV), and customer acquisition cost (CAC) in real-time, giving you a clear and concise overview of your financial situation.  Benefits for Small Businesses #5 Slack An instant messaging app that lets you easily communicate with your team members. It offers a variety of features like real-time messaging, file sharing, and video calls. You can integrate it with other productivity tools such as Trello, Asana, and Google Drive. Benefits for Small Businesses Slack is great for remote-first companies because it makes continuous collaboration within their digital offices a breeze. The main advantages include: #6 Canva Canva is a visual content creation tool that requires little technical expertise or training to get started using. This platform allows professionals (who are not design experts) to quickly and easily produce high-quality graphics by using premade layouts, photos, and other visual assets. Benefits for Small Businesses #7 Jira Jira, created by Atlassian, is a project management and bug-monitoring software that lets users build, delegate, and monitor projects. By dividing large projects into more manageable chunks, Jira users can better keep their teams ordered and in harmony with one another. Benefits for Small Businesses While the platform’s primary users are software developers, it can be put to use in any field thanks to its useful features for teamwork, communication, and project administration. Here are some added benefits: The Bottom Line As a small business owner, your team’s efficiency is crucial for running your processes smoothly and without errors. However, due to limited resources, you may not have the option to expand your team.  In such a situation, automating certain operations can significantly enhance the overall productivity of your team. By leveraging productivity tools, you can streamline repetitive tasks, optimize workflows, and free up valuable time and resources for more important activities.

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Signs You Need Better Accounting Practices for Your Business

5 Signs You Need to Step Up Your Accounting Game

Running a successful business involves more than what meets the eye, and proper accounting practices must be at the top of the list. From purchases to sales, receipts to payments, it requires recording and tracking financial transactions. While spreadsheets and doing extra hours in the night may work in the beginning, things get trickier as your company grows. If you keep at it, then ineffective accounting methods will cause headaches during audits and tax seasons, and hinder your chances for unexpected growth and increased profits.  Once you recognize these signs, you need to know it’s time to step up your accounting game, and the earlier you do it the better. Signs You Need Better Accounting Practices for Your Business #1 You Struggle with Cash Flow Cash flow is one of the most critical metrics for every business, especially startups. It refers to the amount of cash flowing in and out of your business over time.  If you’re struggling with cash flow, you might find yourself struggling to pay bills on time, experience delays in receiving payments from clients, or even face unexpected cash shortages.   When your startup bookkeeping is lacking, keeping tabs on cash flow and making informed spending decisions becomes challenging. To improve your cash flow, you need to implement proper bookkeeping practices. They include:  #2 You Can’t Identify the Money Leaks One of the biggest challenges of running a startup is managing your expenses. If you can’t figure out where your money is going, here are some of the challenges you may be facing: #3 You Struggle to Meet Deadlines As a startup owner, you likely have a lot on your plate. Between managing your team, developing your product or service, and finding new customers, it can be easy to let the bookkeeping fall by the wayside.  However, failing to have a proper bookkeeping method could mean you miss out on deadlines which can have serious consequences, like poor financial management and legal problems. Your company could lose valuable tax deductions if you fail to document certain business expenses. Plus, it can keep you stressed and your business stagnant. #4 You Make Decisions Based on Guesswork Running a business requires a lot of calculated work, and for that, you must have accurate data to make important decisions. If you’re making decisions based on guesswork, it could be a sign that your accounting practices need to be better.  You can only make informed decisions about your business with accurate financial data. By implementing robust bookkeeping practices and utilizing accounting tools, such as Metric App, you can gain real-time visibility into your financial health, track expenses, and assess the profitability of your ventures.  #5 You’re Not Prepared for Tax Season Tax season can be stressful for any business owner, but it can be incredibly challenging for startups that need to get their finances in order. Failing to prepare appropriately for tax season can lead to significant financial penalties and legal problems. These are the signs that show you’re not prepared for tax season: To avoid these issues, you need to implement proper bookkeeping practices. This includes keeping accurate records of all financial transactions, regularly reviewing your financial statements, and working with a qualified accountant to prepare your taxes. If you’re experiencing any of the signs mentioned above, it’s time to step up the accounting game for your business. This may involve hiring a professional bookkeeper or accountant, investing in small business accounting software, or implementing a more structured bookkeeping process. The Bottom Line The financial health of your company is an important factor in determining its success or failure. While a basic “cash-in cash-out worksheet” may suffice initially, if you have aspirations for securing “Series A Funding” or long-term growth, it’s essential to prioritize financial housekeeping. Sound fiscal habits, including budgeting, decision-making, and long-term planning, are key to developing a growth-oriented company management strategy. Your need to engage in expert accounting services becomes crucial as your company expands and requires more sophisticated financial management. It’s important to recognize that bookkeeping is not a one-time task but an ongoing process that demands consistent attention and maintenance. You’ll have to regularly review your financial statements, reconcile accounts, and keep meticulous records of all financial transactions, as they are vital to staying on top of your company’s financial standing. By implementing these practices and investing in proper accounting, you set your company up for financial success and position yourself for future growth opportunities. We urge you never to underestimate the power of effective financial management as it steers your company toward prosperity.

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Introducing Single and Bulk Orders

As a small business owner having a limited budget, you have to manage everything yourself. Metric helps you in creating invoices and tracking expenses but you have to add entries for income transactions. This is time-consuming and can get confusing at times. You often find yourself making mistakes and end up having to spend more time fixing them. We’re excited to announce our latest product update that simplifies the process of adding income transactions in our financial intelligence app. Our improved flow to add income transactions will save you time and reduce errors. You can now categorize your entries as a single order or bulk and the form that follows will ask only for relevant information. For bulk orders you’ll be able to add multiple transactions at once, saving you even more time. How does this feature work? With our latest update, on adding an income transaction, you’ll be prompted to select whether it’s a single order or a bulk order. Based on your selection, the questions that follow will change, making the process more streamlined and efficient. This means that you can fill in the relevant details quickly and accurately, without having to spend time sifting through irrelevant questions. Benefits: By selecting whether it’s a single or bulk order, you’ll only be presented with relevant questions, making the process more streamlined and efficient. This is time-efficient and reduces the probability of error. With less time spent on adding income transactions, you can focus on other important aspects of your business. This update allows for more customized and improved invoices. By filling in more detailed information about income transactions, you’ll be able to create more accurate and professional invoices for your customers.  This update will also let you categorize your orders as single or bulk. This enables the business to have data on the amount of bulk orders per month which is a key insight for future processes.  Our improved flow to add income transactions is a game-changer for small business owners who are looking to streamline their finances. With this update, you’ll save time, reduce errors, and have a better understanding of your business’s financial health.

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Introducing Multiple Products

Running a business you often sell multiple products to a single customer. In such a situation you often have to add separate income transactions for each product sold. This is not only time-consuming but makes it difficult to track multiple sales to a single customer. This leads to errors, and leaves one frustrated, wasting valuable time that could have been better spent elsewhere. Now, what could be a solution to save one from this trouble? We’re excited to announce a new feature in Metric that simplifies the process of creating invoices for multiple products to a single party. This latest update lets you save multiple products sold in a single income transaction and share that invoice with your customer! How it works: While adding a new income, you can now select multiple products sold in a single order.  If you have to enter from a list of already saved items, hover through the product list and keep adding the ones bought. Tap to add a new product if it’s not already on the list.  Your work is done, Metric fills the rest of the form for you. When you add already saved products, the details will be autofilled like the total income and cost of sales fields. This avoids wasting time on repeating robotic tasks and lets you spend your time on better tasks instead.  Benefits: With this new feature, you can now add multiple products or services in a single income transaction, making it easier to track multiple sales to a single customer. As a result, when you have to generate a receipt, you can get it made for this one transaction covering all the products.  Entering the same details multiple times wastes time and also causes errors in retyping. The autofill feature also saves you time and ensures that you don’t miss any important details. This update simplifies your accounting process and helps you stay on top of your business finances.

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Introducing Multiple User Access

You are the founder of a growing business using Metric to manage your finances. In the initial stages, it was easy to add your entries regularly and let Metric keep track of them all. Now that your business is expanding, the workload of managing everything on your own is becoming overwhelming. While metric automates a lot of financial processes for you, letting only the founder have access to the app often puts an enormous amount of workload on one person. You need help with the day-to-day tasks of keeping your finances in order, but you’re hesitant to share your credentials with anyone else. You’re right, this compromises the security of your financial information. So, what to do?  This raises a need for other users in the same app with limited or specified access. Luckily, the metric app has just released a major product update that solves this problem. With the new multiple-user access feature, you can invite other employees to access your business account on different access levels, enabling collaboration and customized access. So basically, you don’t have to handle everything on your own anymore,  but you can still ensure that each user has the appropriate level of access to your financial information. How does this User Access Product Update work?  As the founder, you’ll be the admin and have full access to all of the app’s features, making you the primary account holder.  From there, you can go to the menu and invite other users.  You’ll get to choose the access level for each user from the 3 available that are:  If you ever want to remove a user, you can do it easily through your admin account by a few clicks.  Benefits of using multiple-user access 1. Collaboration  With the ability to add multiple users to your account, you’ll be able to work together more efficiently than ever before.  2. Customized access levels This will ensure that each user has the appropriate level of access to your financial information, adding an extra layer of security. 3. Distributed Workload By using this feature the assigned employee or individual can enter data from their domain and all the work doesn’t end up on the founder’s plate.  4. Transparency and Control  This feature lets everyone involved have access to information while letting the founder be in control and keep a check on all activities happening.  So why wait? Try out the multiple-user access feature today and see how it can transform the way you manage your finances.

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