Online banking software is a lifesaver for many individuals and businesses that work closely with money flowing in and out on a weekly or even daily basis. With Internet banking software, you can use many of the accounting programs that are popular with small businesses and link them to your online banking accounts for instant updates on transactions and balances. This takes the guesswork out of managing business finances.

The pricing and costs of online banking software are determined by the number of features you want, and also the type of access you can get through online banking systems. For online banking software to work for you, it must include the following:

1. The ability to link one or more bank accounts to the online banking software.

2. Access to bank accounts from multiple institutions.

3. Automatic updates, so you know that all your banking information is accurate.

Action Steps
The best contacts and resources to help you get it done

Choose free banking software to save money

Free banking software can benefit any business, for a few different reasons. First, if you are not satisfied with the program, you don't have to pay anything for it. This frees you to find another program that works better for your needs. And obviously, if you do find a workable banking program, you can keep it for free.

I recommend: Thrive is a free service that lets you link all your bank accounts together so you can balance your accounts. FreePay is an online banking software program you can download for free.

Find online banking solutions that provide multiple account management

Most businesses work with more than one financial account to pay bills, provide checks to employees and collect profits. If this is the case for you, choose an online banking software program that lets you link to multiple bank accounts. Programs with this capability run in the $30 to $90 range.

I recommend: AceMoney is a provider of software that has many excellent features, including the ability to manage multiple accounts and account types. What Not Reviews rates some of the top online banking systems available.

Consider a customized banking software system

If you have money to spend for a banking software system that is tailored to your business, you can find a number of providers. Custom software can cost up to $1,000 or more in many cases, but will be very specific to your needs. For instance, you can work with a provider to develop e-commerce solutions that integrate with your internal business software.

I recommend: MVI Solutions can customize a banking software program to help you reduce overhead costs and better organize your finances. A-1 Technology offers custom banking software that includes features like real time updates, customer support, and scheduling of recurring money transfers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  To choose the right online banking programs for your business make sure the software has an easy-to-use interface, and that instructions for using special features can be found either within the program or through tech support.

You're looking for online banking software because you run a consulting business that causes you to be on the road all the time. However, you need Internet banking software that's flexible and functional. It's time to research online banking programs.

The Internet has revolutionized the way business professionals do business. Now you no longer have to worry about going to the bank during office hours; you can access your business account 24 hours a day and seven days a week. Using Internet banking software will make your business more productive. Let online banking solutions help your business. The following services are must-haves when considering online banking systems:

1. Web-based online banking solutions from your banking software

2. Mobile banking from your online bank software

3. Ability to download financial information from your Internet banking system into applications

Action Steps
The best contacts and resources to help you get it done

Look for a banking software that provides web-based online banking solutions

You will need to access your business account from any personal computer. The most attractive feature about web-based online banking programs is that you can access your account 24 hours a day and 365 days a year. Online banking software gives you the ability to manage your account, but more importantly, your cash flow.

I recommend: Jack Henry develops online banking systems that enable you to do self-service functions. You can look at your account balance, transaction history, or transfer funds. 2020software.com enables you to monitor your cash flow as well as reconcile your bank statements. The online banking software also has a cash flow calendar feature to predict both current and future funds.

Make sure your online bank software offers mobile banking

Not only will you need Internet access, but mobile access as well. You might have your Blackberry with you, but not a laptop. Being able to access your business account with Blackberry can be a productive and valuable tool. That's why financial institutions are implementing this service into their business environment.

I recommend: ClairMail offers mobile banking solutions; this online banking software lets you do messaging and use mobile Web applications. VeriSign lets you check your account balance, transfer funds, and pay bills. If you need to have your bank notify you, VeriSign can alert you through your mobile device.

Ensure your banking software allows you to download your banking information into an application

Most online banking systems offer this service, which can save time and effort on data entry. Look for an online banking system that allows you to download your financial information into applications such as Quicken or QuickBooks. The website of your Internet banking system should offer instructions on this task.

I recommend: A-1 Technology Inc. makes online banking software that allows you to download your financial information into Quicken or Microsoft Money. You can find instructions on how to download financial information on Bank of America’s website. If you use accounting software, such as QuickBooks, this bank enables you to download your financial information.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Ask your online banking software representative about the type of security it provides. You'll want transactions to be safe from hackers since you'll be doing business online.

If you plan to start utilizing an online banking software program, you’re going to want to find training and help in order to safely and securely manage your company’s financial transactions. Banking software for the most part is straightforward, but you’ll need online banking software education and training programs to ensure that your employees completely understand the system before it becomes operational.

Internet banking software companies will likely offer training packages along with the sale of the program. The banking programs will either include the training in the price of the software or charge a separate fee.

1. Speak to an online banking systems consultant. Discuss software choices and training packages.

2. Choose an on site bank software training seminar. Many companies can arrange for a trainer to come to your location.

3. Get virtual training for online banking solutions. Make sure that all staff has been fully trained on the Internet banking software program and a support system is in place.

Action Steps
The best contacts and resources to help you get it done

Consider a consulting firm for banking software assistance

For smaller and private financial institutions, you'll have a full range of online banking programs to choose from and a consulting firm can help with your buying decision. Once you have selected your online banking solutions, they can arrange training.

I recommend: FIMAC Solutions is a consulting firm that offers numerous programs to train on bank software. Their prices are reasonable and sessions range from 60-180 minute programs. Contact 3Core Software in order to speak to a consultant about purchasing one of their software products as well as attending training on the particular selection.

Receive live training for online banking systems

Training on a banking software system includes several phases. The first phase will involve installation while the second phase includes lessons on how to operate the system. Lastly, training will include how to convert your old system into the new system. You can choose to hold an in person training session for your staff to make the process go smoothly.

I recommend: Postilion has a training program that includes holding seminars to help teach your staff about their products’ retail and Internet banking services. To set up training, you can send an email to the training department of the company. Fidelity National Information Services has numerous training methods available, including literature, seminar, support calls and more.

Set up virtual training for your Internet banking system

Not every company has the time or money to set up a staff seminar for online bank software training. If this is the case, you'll want to look for companies that can virtually train you and your staff on the program.

I recommend: Once you become a customer of Insite Banking System, you will be given a log in as a way to access their training and support services. They can assist you with virtual conversion and installation training. Q2 Software is a popular online banking program that has an online implementation process in effect that will ensure training will go smoothly.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Before you start training on a new Internet banking software for your company, make sure that you can transfer the data seamlessly from your previous banking system.

If you run a business, you need to have access to online banking software. It can be used to pay bills, issue checks or transfer money to other accounts. Business banking offers some of the same components as a consumer banking software program. Knowing these key terms can help you maximize the software's capabilities and ensure that your business runs smoothly.

Action Steps
The best contacts and resources to help you get it done

Cash flow calendar

Found in some banking software applications, a cash flow calendar can help you foresee what your account balance might be in a month's time. This can help you plan ahead and ensure that you have enough money in your account.

I recommend: To see an example of a cash flow calendar, check out Accounting Software Advisor.

Web-based software

Web-based online banking software resides on the provider's file servers so it doesn't bog down your hard drives or servers. A benefit to using this type of service is that you do not need to worry about updates to the system, as these are handled by the provider.

I recommend: Learn more about the benefits of web-based software at Websystems.

Mobile banking

Mobile banking allows you to manage your finances from anywhere, as long as you possess a mobile phone. This application is situated on your phone, allowing you to access your account with the touch of a button.

I recommend: Visit AT&T to learn more about mobile banking and how it could benefit your business.

Funds transfer

Most online banking software programs have a funds transfer option, whether it's to different accounts that you own or other banks or brokerage companies across the country.

I recommend: Learn more about a funds transfer by visiting Bank of America.

Bill pay

Online bill pay functions allow you to set up payments without worrying about checks or paper bills. Bill pay can either be offered by your bank or your service provider, and you can implement this into your software programs. You can choose to deal with one or both types of bill pay, depending on what is more convenient for you.

I recommend: Visit Guaranty Bond for more information about how bill pay works.

Online check images

If you're concerned about knowing when your checks have been cashed, then look into an application called online check images. This allows you to visually see who the check was made out to, when it was cashed and for how much.

I recommend: Visit Citigroup to learn more about online check images.