MoneyPenny Review

Scenario #1: International teams

International teams of freelancers struggle with time-tracking, particularly if they work on various time zones. Therefore, it is hard to synchronize all their tasks, know exactly where their budget is, what clients have been invoiced, who already paid he invoices and if there are any overdue bills. On top of this, being international, they have clients from various continents, who use different languages and currencies. MoneyPenny is designed with such teams in mind, and it saves their time with:

• Accurate Time Tracking Apps and Reports, focused on making online collaboration easy. Teams can track down every second from any device, then submit timesheets which, after approval can be turned into invoices within seconds;
• Live team overview through Team Timesheets helps business owners get a complete view of who is productive, who can join future projects and who should receive a promotion;
• MoneyPenny dashboards offer an overview for the entire business, or only for Clients or Projects. These dashboards show you all important data in one screen. Budget, tasks, expenses, transactions, account statements or invoice history. It’s all there.
• MoneyPenny is available in 10 foreign languages and it works with all currencies, so it won’t let language and currency issues hold you back, because your business can grow as global as you want it to.
• MoneyPenny simplifies invoicing with the best invoice generator. You can easily create online multi-currency and multi-language invoices, then track conversations with clients about projects and payments. Auto-payment reminders can be set as well as recurring invoices.

Besides this, the simple Slack and HipChat integration with MoneyPenny is exactly what cloud-based team collaboration needed. With this, MoneyPenny brings all internal and external communication in one place, with real-time messaging, archiving, live updates, chat rooms, file sharing, and screen sharing.

Scenario #2: Mobile teams

For dynamic small businesses, such as construction, plumbing, mechanics or scaffolding teams, being always on the go might be a challenge. They need to update their working status while on the move, they sometimes realize they don’t have all the materials on site, so they need to go to a store, load materials up then drive back, while colleagues might be waiting back at the jobsite. In such cases, MoneyPenny comes very helpful because:

• Its Live Time Tracker allows them to log time from their phone and update their current presence status: “Present”, “Break”, “Absent”, “Vacation”.
• The team leader will know which construction workers is at the site and who is out to buy more materials, or who is on a break.
• In case the property owner calls and changed their mind about the project, the team leader can instantly contact everybody and ask them to stop working until further instructions.
• Any receipt of purchased goods can be swiftly added to the project by taking a picture of it and uploading it on MoneyPenny.
• All expenses, invoices and time logs are synced in real-time. The project manager can always enter the MoneyPenny dashboard to see if the budget is OK, check the project milestones and communicate with the client or members of the team, live. Same goes for comments on invoices or estimates than need to be adjusted.

Scenario #3: Project and budget tracking

For companies and business owners, it’s crucial to get the bigger picture from time to time, and make sure they’re in control of cash inflows and outflows, expenses and revenues. At tax time or at any time, they might want to know who is their best client, what’s their profit and plan ahead. For such matters, MoneyPenny had designed and developed features like:

• Detailed dashboards where company owners can assess KPIs, analyze client data, ongoing or past projects and plan accordingly. The dashboard panels can be customized, so that you don’t even need training or tutorials to compile customized reports focused on clients, staff or projects. You can compare and view data from previous days, weeks, months or years.
• The advanced reports available on MoneyPenny are the key to smart business decisions. They practically turn data into money, since with a few click you can create accurate estimates, set better sales goals and track overall progress of projects and budgets.
• Paperwork is no longer an issue, and you can forget about the shoebox. Any MoneyPenny user who needs help with the preparation of tax papers and returns can simply provide access to their tax consultant. Once the invitation accepted, all the business data and documents (receipts, invoices) will be safely stored on MoneyPenny servers, so the tax consultant will be able to access and do all the tax-work from one place: MoneyPenny. When completed, the customized tax reports (monthly/quarterly or annual) can be exported within minutes and sent via email.