Top 5 Apps Every Accounting Student Should Use

Accounting students face a unique set of challenges, from mastering financial concepts to understanding professional software.

The right tools can make this journey smoother and more efficient. This blog dives into the top five apps every accounting student should use to stay organized, gain practical skills, and excel academically.

Overview:
QuickBooks is one of the most popular accounting software tools used by businesses worldwide. It provides an excellent platform for students to learn the basics of bookkeeping, invoicing, and financial reporting.

Features for Students:

• Create and manage income statements, balance sheets, and cash flow reports.
• Practice reconciling accounts with real-world accuracy.
• Gain insights into inventory management and payroll functions.

Why It’s Essential:
Most businesses rely on QuickBooks for day-to-day financial management, making it a crucial skill for aspiring accountants. By familiarizing yourself with it during your studies, you’ll build confidence and be better prepared for internships and jobs.

Pro Tip:
QuickBooks offers discounts for students and often partners with universities to provide free trials. Take advantage of these offers to practice.

Platforms:
Windows, macOS, iOS, Android

Overview:
No list of accounting tools would be complete without Excel. This versatile spreadsheet software is fundamental for accounting tasks, including data analysis, financial modeling, and creating reports.

Features for Students:

• Advanced formulas (e.g., VLOOKUP, IF statements, INDEX-MATCH).
• Pivot tables for summarizing and analyzing large datasets.
• Charting tools for visualizing financial data.
• Macros for automating repetitive tasks.

Why It’s Essential:
Excel isn’t just a tool; it’s a skillset. Accountants who are proficient in Excel can work faster, smarter, and more accurately. Its application goes beyond academics, extending into nearly every accounting job.

Pro Tip:
Invest time in learning Excel shortcuts and advanced features like VBA (Visual Basic for Applications). Many free online courses are available for beginners and advanced learners.

Platforms:
Windows, macOS, iOS, Android

Overview:
Cloud accounting is the future, and Xero is one of the leading platforms in this domain. Xero Learn is a student-focused program that offers free access to Xero’s powerful features along with training resources.

Features for Students:

• Learn to manage accounts payable and receivable.
• Automate bank reconciliations and financial entries.
• Generate detailed reports and dashboards.

Why It’s Essential:
With the increasing shift to cloud-based solutions, gaining hands-on experience with Xero gives you a competitive edge. It’s also an opportunity to understand modern accounting trends like automation and remote financial management.

Pro Tip:
Use the Xero Learn program’s guided exercises to simulate real-world scenarios.

Platforms:
Web, iOS, Android

Overview:
Accounting studies often involve stacks of notes, printed case studies, and handwritten calculations. Adobe Scan transforms these physical documents into digitized, searchable PDFs.

Features for Students:

• Easily scan notes, textbooks, and receipts.
• Convert scanned documents into editable text using OCR (Optical Character Recognition).
• Save and organize scans in the cloud for easy access.

Why It’s Essential:
Staying organized is critical for accounting students juggling assignments, internships, and exam prep. With Adobe Scan, you can digitize and store important material, ensuring nothing gets misplaced.

Pro Tip:
Integrate Adobe Scan with cloud storage services like Google Drive or Dropbox for seamless document management.

Platforms:
iOS, Android

Overview:
Wolfram Alpha is a computational powerhouse that can handle everything from basic arithmetic to advanced financial calculations. It’s like having a math tutor in your pocket.

Features for Students:

• Solve equations for compound interest, depreciation, and more.
• Analyze data sets for statistical insights.
• Access detailed step-by-step solutions to complex problems.

Why It’s Essential:
Accounting often requires precise calculations. Wolfram Alpha not only solves problems but helps you understand the steps involved, enhancing your conceptual clarity.

Pro Tip:
Bookmark frequently used queries for quick reference during assignments or study sessions.

Platforms:
Web, iOS, Android

1. Start Early:
   Begin using these tools during your foundational courses to develop familiarity and confidence.
2. Stay Consistent:
   Dedicate specific tasks to each app. For example, use QuickBooks for practice exercises, Excel for assignments, and Adobe Scan to organize your notes.
3. Combine Knowledge:
   Apply skills learned in one app to another. For instance, export reports from QuickBooks to Excel for deeper analysis.
4. Leverage Tutorials:
   Most of these apps offer free tutorials and resources tailored for beginners. Utilize these to enhance your learning.

The right tools can significantly impact your journey as an accounting student. Apps like QuickBooks, Microsoft Excel, and Xero Learn bridge the gap between theory and practice, while Adobe Scan and Wolfram Alpha keep you organized and efficient. Start using these apps today to build skills that will set you apart in your academic and professional journey.

Also, you can learn more about our Advanced Excel Bookkeeping Training Course.