Benefits of Cloud Bookkeeping
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Every business needs a bookkeeper and in small business it is often the business owner, or a family member responsible for the day to day paperwork and data input. Traditional bookkeeping can be inefficient, prone to errors and leave you buried in paperwork. Innovations in accounting technology have enabled smarter, faster, more efficient accounting practices.
10 Benefits to Bookkeeping using Cloud Technology
1. Real Time Reporting - You have access to your current financial position in real time to make business decisions on the go.
2. Accessibility - You can be confident that you can access your financial data anytime, anywhere, using your PC, Mac, smartphone or tablet.
3. Improves Cash Flow - E-mail clients professional invoices and accept payments online reducing the frustration of waiting for payments.
4. Capture Receipts - You can snap and save receipts using mobile apps so you never lose a receipt again.
5. Download Bank Transactions - Artificial Intelligence allows for matching technology to increase productivity so you can focus on your business, not your paperwork
6. Paperless Storage - Online bookkeeping systems store data and transactions on the "cloud" so you reduce the clutter with storing paperwork.
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7. Safety and Security - Be confident in your business records and financial information which can be lost due to unforeseen events such as theft, fires and floods.
8. Automatic Updates - Everything is run online; there’s nothing to install and everything is backed up automatically so you can save time.
9. Increase Productivity - Adopting online services can assist to reduce the time required to record transactions by up to 40% so you can focus on generating income.
10. Multi-Users Access - Collaborate online with your partners and advisors including your accountant.
With free pick-up and drop-off within the Cochrane area, you won’t waste time delivering receipts.
We will come and get everything and bring it back on time and in order.
5 Benefits to Outsourcing your Bookkeeping
1. Lower Cost - The cost to outsource is significantly less than hiring and overseeing a full or even part-time employee; particularly when you factor in payroll costs, health insurance, worker’s compensation, and vacation pay.
2. Professional Attention to Detail - An employee is paid for their time just to show up, but a bookkeeping service is paid to do your books accurately and promptly.
3. Less of Your Time is Required - Gain back the time you spent on record-keeping, training, and overseeing an employee. A bookkeeping service works independently with a minimum of your time required.
4. Breeze Through Your Taxes -Well-maintained financial records enable you to get all of the tax deductions you deserve.
5. Peace of Mind. You can feel secure knowing the exact financial state of your business at all times, and that your records are in order for banks, stakeholders and the Canada Revenue Agency.