Top 5 Online Calculators To Use In Your Business Calculations
Every business has the finance and revenue process which needs calculations that can be simple but, in some situations, this can be complex. The complex calculations usually occur when having a business on a large scale with multiple departments. Big scale business usually has a professional’s accountant to manage their finance.
However, if the business is new or small and not capable of hiring a finance professional then you can easily manage your calculation yourself. There are different types of calculation in a business that depends on the business niche.
For example, if you are working on an online store then you need to calculate the marketing metrics like traffic, CPC, etc. Similarly, a textile needs different calculations like finance, marketing budget, loan, statistics, employee’s salaries, and many other calculations.
In this article, we will discuss some of the best calculators that would help manage your business calculations.
Profit/loss calculator
In business, the management needs to look for the ratio of profit and loss because they have to take the action to be seeing the ratio of profit and loss. It’s quite difficult for the business to manage it in case of doing it manually. However, there is numerous online website that is offering the tools to organize your profit and loss.
The online calculators need some basic information about your business activities and expense to calculate the margin of profit and loss of the whole duration. Most of the businesses usually audit their business to know the profit after a month or even the years. But through online tools, you can know the profit/loss estimate even for a daily basis. Before these calculators, the businesses use to hire the services of the agencies and professionals to note their business financial condition.
Here is an example of the popular tool for calculating the profit or loss of your business.
Calculatorweb.com
This is one of the popular tools for finding business profit or loss within minutes. This is a free tool that is usable without registration or any subscription. This calculator requires some basic information about your income and expenses. These include the total sales of the period and detail of the expense.
One of the amazing facts about this website is that it would take the information about everything including the advertisement, fees, utilities, traveling, and everything that is associated with the business. Moreover, it calculates through including the taxes and other government fees that will let you know the actual profit or loss of your business activities.
Accounting equations
The accounting equation is usually used for finding the balance in your assets, debts, budget, as well as the expense of your company. The biggest advantage of using the accounting tools online is the feature of finding the liabilities and equity to make your position stable in the market.
The accounting equation is:
Assets = Liabilities, and equity
The most common problem for most business owners comes when they have to find the value of liabilities and equity. In this regard, the best way is to use the online calculators that are specially organized for business management.
If the accounting equation is unbalanced then you should look for the transactions of your business and find the fault that is disturbing the accounting equation.
Number conversion calculator
Business is all about the financial transactions that depend on the business scale because it could be in thousands, lacs, or even in the millions. Now when you are preparing an invoice, sending a quotation, or calculating any transaction, you usually need to have converted the amounts into the different standards. For example, changing the amount from millions to lacs or crore.
In business, the management and accountants usually don’t have much time to think and calculate the number conversion. In this regard, you should use the online calculators that are usually available for free and for instant use.
Here is the example of a popular calculator website that is offering the business calculations.
Meracalculator.com
Meracalculator is one of the popular websites for providing calculators for different fields including chemistry, physics, mathematics, statistics, and various other fields. One of its efficient calculators is number conversion which helps you to convert the number from one standard to another standard. For example, it would help you to convert the crore into the millions while it can be converted to the opposite standards.
Profit on investment
In banks, investment, and insurance companies, the most used calculation is the profit on the investment of the different clients. In the investment companies, there might be thousands of clients that need to be calculated. In this regard, the task becomes difficult when you have to calculate manually.
Amongst these thousands of clients, there are different categories like the variation in the amount that might be different. However, in this regard, you should use the online calculators and similar tools because that would increase your productivity and time efficiency.
Here is an example of the calculator to get the profit on the investment.
Calculator.net
Calculator.net is a popular tool for calculating finance-related calculations. The return on investment (ROI) calculator is used to find the net profit on the investment whether it’s for the investment company or the bank. The online calculator usually requires some basic information that would generate the net profit instantly. However, you need to enter the amount of investment and the period for the investment. On the other side, you need to enter the profit rate or interest rate to find the profit amount.
Conclusion
As we know that the increasing scope of the digital world is transforming the process of every business. In this regard, you should also transform your business towards automatic calculators. The online calculator would let your business to be efficient while the complexity in your calculation will also be solved easily.
