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Many entrepreneurs choose to hire an Edmonton bookkeeping company instead of doing the books themselves. While many entrepreneurs do not have the money in order to hire outside services, they also do not have the knowledge necessary to do their own books. The company that makes QuickBooks, Intuit did a survey of entrepreneurs and asked them some basic business financial literacy questions. Business owners were asked things like how they improve cash flow in their business, what are accruals, what is the role of the balance sheet and how to the use an income statement. In a surprising twist, 82% of the respondents that were asked, end up scoring less than 70% on the test. It is not uncommon for entrepreneurs to not have the skill set to look after their own bookkeeping. However, entrepreneurs do not need to have a huge knowledge of how to keep books, in order to utilize automating the bookkeeping processes in their business, in order to save time and money in their business.

One of the easiest ways for entrepreneurs to use automation for the books in their business, is by asking their banks and credit card companies to send them digital statements instead of paper ones. Whether they are entering the information themselves, or hiring Edmonton bookkeeping companies to do it, by having digital statements, entrepreneurs can upload those directly into QuickBooks online, and instead of entering every single transaction by hand, it can be done for them. The only time an entrepreneur needs to spend is by spot checking several of the entries to ensure that the information was imported accurately.

Even if an entrepreneur is not able to get digital statements from their credit card companies or banks, they can use a software called HotDocs in order to turn those paper statements into CSV files that they can then upload. By doing this, entrepreneurs can ensure that they can save a huge amount of time whether it is them who is entering the information, or if they are sending it off to their bookkeeper. If Edmonton bookkeeping is taking care of it for them, by sending them the files, the bookkeepers can automated for entrepreneurs and they can save significant amounts of money by not getting charged an hourly fee to enter transactions.

Many entrepreneurs wonder how safe their information is by automating everything and entering it into the online software. However, Edmonton bookkeeping says that the information is just as safe as the information would be in the businesses own computers. Not only do online software have built in systems to ensure the information is encrypted and Safe, but cloud-based software also has additional safeties built into ensure that the information is less likely to get hacked.

By automating as much of their bookkeeping process as possible, entrepreneurs cannot only save dozens of hours in their business, but they can also save money if their bookkeeper was doing it for them. This makes automation an extremely obvious choice for entrepreneurs to do in their business.

Many entrepreneurs do not have the knowledge to take care of their own bookkeeping, and therefore depend on an Edmonton bookkeeping company to do that for them. However, business owners do not need to have a large and comprehensive knowledge of bookkeeping software, in order to help their company automate many of their processes in order to save time and save money on their bookkeeping.

One of the ways that entrepreneurs can save significant amounts of time is by utilizing software for employee time tracking. There is many apps that can be downloaded onto phones, or software that is available for entrepreneurs to use to keep track of all of their employees time. Many of them have built in fail safes to ensure that employees cannot falsify their time records. All of them are compatible with QuickBooks online. Instead of manually entering all of the employees time in QuickBooks, by importing the reports from these apps or software, business owners can avoid having to spend significant amounts of time manually entering time into the software. Not only can business owners save time by doing this, they can also ensure accuracy of their employees times by minimizing their ability to enter an incorrect time.

Another way that entrepreneurs can utilize automation to increase the efficiency of their ten bookkeeping company, is to scan and keep digital copies of all of their receipts. They can upload this information into their QuickBooks files, and since Canada revenue agency does not need to see the originals of the receipts, copies will do, business owners can only take advantage of the automation in QuickBooks, but they can safeguard their information by having a digital copy of their receipts. As many receipts fade over time, they can actually ensure that they have better records caps by having this information digital then people copies. This also will allow the information to be backed up, safeguarding the information in case disaster hits.

These are all different ways that entrepreneurs can ensure that they can utilize methods for ensuring the accuracy of information as well as the ease of entering it into their accounting software. Also, entrepreneurs can use technology in order to improve the communication with their Edmonton bookkeeping company as well. By using software such as team viewer, entrepreneurs can have their biweekly phone conversation moved to an online conversation with their bookkeeper that can be more interactive, and therefore more useful for them. Entrepreneurs can see what the bookkeeper means by allowing them to demonstrate on their computer and pointing out different aspects of their interim financial statements.

By using technology and automation in their business, entrepreneurs can help save not just time in their business, but money as well and ensure accuracy of the information in their financial statements. Entrepreneurs do not need to have a comprehensive knowledge of their accounting software in order to achieve this and have there business benefit greatly from it.