Entrepreneurs often wish there was a magical solution for giving them more time in their business, however Edmonton bookkeeping says that that actually is a reality when business owners are looking to increase their efficiencies in bookkeeping. In fact, bookkeeping has come a long way, and advances in the software and technology allow for many things that used to be entered by hand in a painstaking fashion now have easier ways of doing them. Entrepreneurs and bookkeepers alike can save dozens of hours every single month on entering transactions simply by learning what processes are now automated in most accounting software, and how business owners and bookkeepers can use that information to give the more accurate financial statements much easier than before.
One of the most efficient ways that entrepreneurs can ensure that they are automating their Edmonton bookkeeping service, is by ensuring that they get statements from their bank and credit card companies digitally. While many banks and credit card companies have allowed entrepreneurs to get their statements digitally for quite some time, many business owners do not understand the reason why this is so significant other than saving dozens of pages every year. In fact, the main reason why this is such a benefit, is because you can take those digital files that entrepreneurs receive from banks and credit card companies and simply upload them into their bookkeeping software. It turns every single transaction from that financial institution into entries into the accounting software. For example, if an entrepreneur had sixty purchases with their credit card in a single month, every single one of those purchases then be catalogued into their bookkeeping software, with the proper date, proper coding for what account it should go into, and the correct amount. Instead of having to enter sixty transactions themselves, entrepreneurs can have it done in the matter of minutes. All they have to do, is review a few of the transactions to ensure that nothing wrong happened when they uploaded the statement.
Another way that entrepreneurs can use automation to make their Edmonton bookkeeping experience much easier, is by using software for employee time tracking. The reason why this is significant, is instead of keeping track of their hours by hand, then having to manually enter all of those times that their employees arrived to work, took breaks and left for the day, the software or apps that are on the market actually sink up with QuickBooks online, so all entrepreneurs have to do is every two weeks upload the files that are generated by the software or apps into their QuickBooks, and all of the times are entered for the entrepreneur.
By automating their bookkeeping, entrepreneurs can ensure that they or their Edmonton bookkeeping company can save dozens of hours every single month. If they are doing the bookkeeping themselves, that is dozens of hours that they can spend building their business, or cheating the strategic priorities of their business. If they are hiring a bookkeeper to do it for them, that is dozens of hours they then do not have to get billed by their bookkeeper to sit there and manually enter all of their transactions.
Entrepreneurs often do not understand how to do their own bookkeeping, and therefore do not learn what they can do efficiently, even if they hire Edmonton bookkeeping to take care of their bookkeeping for them, they can still save themselves time and or money by learning how to automate many of the processes. Automating their bookkeeping does not mean that entrepreneurs need to learn how to utilize the accounting software, and there is very few things that they have to know how to do. However if they can master these they can ensure that the information in their financial statements is more accurate, and can be delivered in a more timely fashion. Since entrepreneurs depend on that financial information in order to operate their business smoothly, this is an extremely important thing for entrepreneurs to do.
One of the best software is that Edmonton bookkeeping recommends entrepreneurs use is QuickBooks online. This is the software of choice for many bookkeeping companies, and whether an entrepreneur is trying to do it themselves, or have their bookkeeper look after it while they automate what they can and send it in, by utilizing QuickBooks online, entrepreneurs can increase the efficiencies. QuickBooks online works with many software’s that a business owner might use to automate their processes, and is very intuitive to use. Even if business owners do not want to learn how to do any of the bookkeeping themselves, they can ensure that its caps as easy as possible by using the software.
Another way that entrepreneurs can utilize automation in their business to get the best financial information from Edmonton bookkeeping as possible, is by using a software called team viewer. This is how bookkeepers can make the weekly check-in with their client efficient. Instead of driving to their bookkeeper, or phoning them and hope they understand what their bookkeeper saying, they can utilize team viewer to review their biweekly interim financial statements, verify information, ask questions and get a good idea of what their business finances are like, so that they can then go and run payroll, pay themselves or plan their next couple of weeks in business with a full understanding of what their business finances look like.
Automation is aimed at saving time, making things more accurate, and making things extremely clear. Even if it does not save an entrepreneur lots of time, it can help by ensuring everything is more accurate and accurate information is extremely vital especially when it comes to the financial documents of the business. Entrepreneurs who want to make things easier for themselves, make things more accurate in their business should learn how to use automation in their business to help their bookkeeper and themselves have the most accurate information possible.