Question: I need a cost-effective way to manage my business finances and minimize audit risk, can you suggest a solution?

If you're looking for a low-cost way to manage your business finances and reduce audit risk, Kick is a top contender. This daily accounting system is designed to minimize audit risk while maximizing tax savings. It includes features like real-time auto-categorization of transactions, AI-driven personalization, automated receipt matching and accurate financial reporting. Kick's pricing is $49/month after you've processed $15,000 in business expenses, and there's no extra charge to link multiple accounts and businesses, so it's a good option for businesses that need to grow their financial management.

Another strong contender is Sage, an all-purpose business management software that uses AI and machine learning to automate tasks and give you real-time insight into your business. Sage is good for many different types of businesses, and it's got human experts to help you out, too, with member masterclasses and community forums. It can be customized with integrations and add-ons, too, so it's a good option for businesses that want to customize their operations and cut audit risk.

For smaller businesses, COUNT is an AI-based accounting service that automates financial work and offers real-time insights. It includes AI automations for transaction categorization, real-time expense and income tracking, and invoicing and payment options. COUNT has two pricing tiers, with the Professional option costing $29.99/month for businesses with up to $1 million in annual revenue.

Last, Fiskl is a multicurrency accounting service that can handle more than 170 currencies and that offers invoicing, payments, automated bank synchronization and tax tracking. It automates bank transactions, cutting reconciliation work by up to 80%, and integrates with a wide range of financial institutions. Fiskl is geared for small businesses, freelancers and startups that want to manage their finances with a simple, secure interface. It even offers a free version so you can try its tools.