Apps and cloud software - the future of business accounting?

Intuit have just released the MyBizTracker App for the iPhone which promises to keep you in touch with your business accounts whilst on the go. It is always welcome to see a useful app, especially one that is free and does not rely on any pre-purchased software, but what exactly does this app do and how does it represent the developments being made in the world of business? 

MyBizTracker from Intuit

MyBizTracker is pretty much what the name suggests; an app which allows you to track your business accounts whilst you are away from the office. It records all your incoming and outgoing expenses in real time as well as recording any expenses you incur on business trips (such as meals and taxis).

The app is certainly very good at doing everything it claims to do through its intuitive and simple navigation. The beauty of it is that as long as you have an internet connection (and where doesn't these days?) it is almost as good as being at the office.

The app has a simple display showing your business' finances and whether you are in the red or the black in real time. This means that your financial information is always kept up-to-date and you don't have to worry about what is happening to your cash whilst away from the office.

What does the app say about the world of business?

Intuit's app is a very simple idea but very effective and can be seen as a logical extension to their existing QuickBooks Online accounting software. This employs cloud computing technology for business use, enhancing various aspects of basic financial operations.

Cloud software has been positioned as a prime area of growth for businesses over recent years with an increasing number of services transferring their software to this virtual realm. There are numerous benefits to this and with such strong popularity, similar approaches towards other areas of business are expected to characterise the future of company dealings.

What does the app offer?

As with any app, it is never enough to simply do what it claims and MyBizTrack is as user friendly and functional as it is effective. It is set out in line with HMRC requirements so you can be confident that it is going to be reliable and do more than simply display basic information.

If you have a business and find yourself away from the office wondering exactly what is going on whilst you are away this really is worth trying out. It is absolutely free and is a completely stand-alone piece of software. Intuit have a record of making some of the best accounting software available inside the office and with this app they have proved their ability to transfer these skills outside of the office too.