New developments in technology, such as the application of cloud storage and online tools, have transitioned small and large businesses into a more productive and efficient realm of doing business. Documentation of money flow and expenses is necessary for every company for both administrative and legal reasons. By transitioning to paperless accounting and using online accounting software, documentation of money flow and business expenses can now be accomplished with enhanced security, organized cost and time efficiency, and effortless accessibility.
Say you’re a business owner, focused on the success of your company. But you have all these bookkeeping responsibilities, trying to keep track of your accounts and business transactions. Accounting is necessary for the organization and the success of every company. With that comes a new set of expenses. Think about ink, paper, scanners, and mailing fees. Even more, think about employee salaries to cover the extra work. This is where transitioning online may come into play. Moving online bypasses time spent on manually filling out paperwork, faxing, and mailing documents. And as companies grow larger, the amount of paperwork ultimately increases as transactions increase. This leaves more room for mistakes.
Looking at the benefits of cloud document management with an online accounting department
- Efficiency – With the use of online accounting software, such as Quickbooks, businesses will increase their efficiency. Accounting needs that regulate and analyze expenditure data are time-consuming and require focused attention. Transitioning to online accounting is user- friendly. Online accounting algorithms do most of the work for you and ultimately increase efficiency allowing you to focus on other important aspects of the business.
- Cutting costs – Thinking about going green? Is your company expanding, and you seem to be drowning in constant paperwork? By utilizing online accounting and cloud document management, you can focus your efforts on the important issues of business, while saving on accounting expenditures. Simple accounting software and online tools allow you to address these needs without excess expenditure on physical items such as thousands of sheets of paper, printers, and ink. Not only will you cut costs, but you’ll also be helping out the environment!
- Enhanced Security – By storing information on a secure cloud database, online accounting departments increase overall business security. Financial information and transactions are not stored in file cabinets but are rather securely protected on private data networks. Gone are the days of paper shredders, or the fear of misplaced paperwork with important monetary information.
- Virtual access – Don’t want to go into the office? On a business trip on another continent? With cloud documentation and online accounting departments, you can access your data virtually. You don’t need to go into the office to file/fill out paperwork. Instead, stay in your comfy clothes- access/update/change your information from the comfort of your own home.
Where to start with online accounting
Know your accounting needs. Analyze expenditures and resource usage. By doing this, you can find what scale of online accounting software you need.
Online accounting software will save your business money, putting focus and monetary value where it counts. Aside from security, efficiency, and virtual access, online accounting software can make future projections for your business. By analyzing losses and profits, tracking expenditure trends and values, an online accounting department can provide insight into useful business practices and future business ventures.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.