In the wake of the unprecedented economic turmoil caused by the coronavirus pandemic, it will be more important than ever to tighten up the business hatches. It will be especially important for students and post-graduates if they wish to repay their student debts on time. As customer buying power decreases, so will the relationships between customers and businesses, as well as between business partners, become strained. Many specialists, as an assignment expert, will be busy for years to come in, expounding all the ways this crisis has impacted our lives.
As a result of this new economic environment, any business should take care to automate and secure their cash flow. The ever-important balance between incoming and outgoing cash. Unlike big corporations that can always count on massive government cash infusions, small and medium-sized businesses have no such luxury.
Young people who just finished their education and ventured into entrepreneurship will have to rely on themselves first and foremost. Moreover, big business has whole accounting departments dedicated to ensuring that incoming cash is greater than outgoing cash.
Nonetheless, thanks to modern digital technology, you can automate such operations with little to no cost. Many apps can replace the work that was in the pre-internet era delegated to business administrators. It is no longer necessary unless you operate an international, large-scale business.
One of the best ways of assuring your incoming to outgoing cash balance remains intact is the Bills Monitor app, which you can find on iTunes and Google Play stores.
Bills Monitor allows you to create a mental map of all of your costs precisely, to that you will not be taken by surprise, miss obligations, or forget about the money someone owes you. Not only is it easy to use, set up recurrent bills, and reminders for each bill, you also have access to statistics and pie charts, reflecting payable vs. receivable bills, and bills by category.
Moreover, bills can be easily exported to Excel sheets and automatically synced to Dropbox, so you don’t have to worry about backups in case your phone breaks. A perfect little app for entrepreneurial students and small businesses alike.
QuickBooks represents a more comprehensive accounting software that tracks all of your expenses, your employees, unpaid invoices, vendors, and tax deductions. Most importantly, the QuickBooks app is able to connect to countless accounts that are vital for your business. These accounts range from bank accounts and credit cards to the most dominant payment processors, such as Square or PayPal.
Of course, the app is constantly being updated so that more options are included as neobanks – N36, Revolut – become bigger players on the financial scene. Additionally, QuickBooks utilizes your phone’s camera to upload receipts. This way, you can easily track expenses and account for taxes.
Before Zoom became a household name due to coronavirus pandemic, other communication apps established themselves among the top group-work and communication platforms. Teachers find Zoom the easiest to use, but students would benefit more from Slack, greatly superior to Zoom, as it allows you to create private and public channels of communication, customize notifications for every person and channel, share any document or image via a user-friendly drag-and-drop interface, etc.
Slack has both desktop and smartphone app versions, which increases its flexibility and usefulness. Lastly, Slack developers had the foresight to integrate any video-conferencing app of your choice without leaving your Slack conversations. Therefore, you can view Slack as your dependable facilitator of all communication and organization within your business or student study group.
Not an app per se, but this wonderful service is there to provide you with easy hiring from any platform. As such, it is an ideal resource for struggling students who seek work, and those who just acquired their college degrees. Hiring new employees is oftentimes an arduous task, from the very initial task of posting a job offer on multiple platforms to assessing feedback. Upward.net streamlines this process by doing the job postings for you. With one click, you can post a job on dozens of job boards.
On top of that, you will be able to categorize the applicants into easy categories – yes, no, maybe – and do follow-ups with candidates via notes. A must-have service for any retail business that deals with high employee turnover such as restaurants, while online entrepreneurs and job-seekers will also find it exceedingly time-saving.
Lastly, any business owner knows that time is indeed money, and if you manage time poorly, you end up losing money. RescueTime app is there to make sure your time allocated for business activities is well spent!
It works by automatically tracking the time you have consumed on either websites or other apps. Needless to say, such an app would be transformative for any student given that procrastination is their greatest enemy on their path to get a college degree. Then, it provides you with a detailed report on such activities, allowing you to form more efficient habits and detect time-wasting.
More importantly, you can set RescueTime to alert you when you have exceeded your allotted time on any activity, such as watching Youtube videos, news, social media networking, etc. It even allows you to block those apps or sites that make you lose more time than you are comfortable with.
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