The world of bookkeeping and accounting is changing significantly and at a rapid pace, and is important for you to stay up-to-date with these changes.
Are you ready for change? It’s time to say goodbye to the old, more traditional ways and time to give your business a Digital Detox!
What are the benefits of an Accounting Digital Detox?
- Cost savings – making bookkeeping more efficient
- Paper-free – without losing documents
- Payment – get paid more quickly
- Building relationships within your business and with your accountant
- Improved productivity and profit
How can this be achieved?
- Using a Cloud Accounting Solution – such as QuickBooks Online and Xero
- Changing old habits
- Implementing and utilising the creative and innovative app network around cloud accounting
Sales and Payments
Sales invoices can be generated within your cloud accounting system and straight via email to your clients. Recurring invoices for the same amount to the same client can be set-up to recur each month and emailed straight to the client, on time and without the need for you doing anything – totally automated!
What if your invoices are generated in another system? Transaction Pro is an app used to import invoices into your accounting software, so there is no need to enter data in twice and no need for paper copies.
Ever thought about getting your clients to pay by direct debit? Use GoCardless as this integrates with QuickBooks Online.
Invoices and Receipts
There are many apps that can be used – Auto Entry and Receipt Bank. These apps read suppliers’ invoices and receipts, understand what the accounting entries should be and post them to your cloud accounting software.
Invoices can be emailed to these services, uploaded from your computer or you can even take a photo on your phone and send it from the phone app. Perfect for when you’re on the run, i.e. a working lunch receipt.
This automation is very impressive and will save you hours of work. Not only does this app perform this task, it’ll also generate a PDF of the receipt or invoice when the transaction is sent to your accounting package. So, there is no need to keep the piece of paper!
How clever is this? It’s so useful, more so if you have a VAT enquiry!
Bank Accounts, Credit Cards and PayPal
These can all be linked to your accounting software, and new transactions can be downloaded whenever you require them.
To begin with, it can be overwhelming when you first download your bank transactions, and it is important to learn the best way of dealing with them. The accounting for receipts and payments is simple once you get used to it, and allows you to keep your bookkeeping records reconciled to your bank and credit card accounts all the time.
Improve Productivity and Profit
Cloud accounting provides access to your information from anywhere at any time, enabling employees to work from home as easily as in the office.
Automating processes and getting computers to do the work saves time and money. This in turn, makes people more productive and accounting work seem less dull, and less likely to cause errors.
A short review with a client whenever we need to keep things ticking over correctly, rather than meet face-to-face with clients, Screen-Sharing with Skype can be utilised.
Time saved, a problem solved!
Do you really need paper anymore? Working in the Cloud prevents the use of paper, as documents and files are available to everyone.
Who can help you with your Digital Detox?
The experts – Broadwing Accountancy!
We provide support to you and your business needs in 3 areas – Outsourced Accounting, Personal & Corporation Tax, and Specialist Projects & Compliance.
We’re helping clients’ benefit from the digital world all the time with our dynamic and imaginative solutions by solving your problems, saving you time and money. We’re here to simplify your life!
To find out if we can help you, contact Brian Munjanja on 01604 328328, or email your questions to [email protected].
