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A Conceptual vision of a Datacenter on the cloud Cloud Computing
Ah, the digital era. Technology has surpassed our expectations to give us wonderful innovations like software for office automation or IT systems like cloud hosting for increased productivity. The paperless filing cabinet is one aspect of cloud IT systems that makes life easier, not just for the trees but for staff too! By virtue of the fact that the data isn’t on paper but on a cloud where servers rule the domains and you have less control, is it a good idea? There is always a threat of data being compromised or worse, the service providers terminating vital services that would certainly impact your business negatively and create a disastrous scenario.

That being said, no amount of technology can render something foolproof. However, the best industry practices such as changing passwords periodically for paperless filing cabinet purposes, virus scanning, spam filters and encrypted connection really do help with cloud hosting.

Structuring your Paperless Filing Cabinet in a Cloud

Following a set of standards as a protocol is always a smart idea to maintain any system. A paperless cabinet works depending on the requirement. A few considerations are taken into account first. First, all of the tools are required which are software (Evernote or an equivalent) and a scanner. Secondly, realize the fact that, while you are going to a paperless filing cabinet, no one else will be. Cloud hosting or not; you still have to use paper on some occasions. 

Scan all documents that are part of your business procedures like raw material purchase orders or delivery memos, for instance. After scanning, all of this data is stored in PDF format and then placed on a cloud which hosts it for various reasons and users. It can be great for many reasons. One of the biggest advantages is being able to access it anywhere, anytime. At the same time, security for a paperless filing cabinet should be balanced so that data residing on cloud hosting that is out of your control is rendered secure by going paperless.

The risk is the main focus which is lowered by storing data. The software involved in your digital cabinet helps encrypt your data. Even if your account has been compromised, the data on it would be deemed unusable and useless. Due to the encrypted nature of the data, the software wouldn’t be able to search it or find it. Depending on the nature of the business, it is a matter of preference but also an understandable trade-off. For a paperless filing cabinet on a remote cloud hosting service, sensitive data needs to be protected and, with this form of encryption, high levels are achieved.

Carrying a briefcase is a hassle but, with this technology, a virtual briefcase is created in your device that helps you access anything, anytime. On mobile devices, a higher level of security is needed so always use passwords on all such devices. You can even program your device to run an erasing program that would wipe the device clean if a certain number of login failures or attempts happen. Data in a paperless filing cabinet that is located in cloud hosting services is an asset and, thus, holds a symbolic place in the hearts of businesses. With operating systems and servers crashing, ask yourself, is this level of unpredictability required for my business? Always ensure that sensitive data is always backed up with you before sending it to cloud services. This would render any future needs to be fulfilled locally which is faster as compared to the cloud. But, when traveling, cloud hosting really makes life easier.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services 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 and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.




Office supplies on office desk table.Scene of daily work shot with Nikon D800E ISO100.
Companies used to store the bookkeeping records of their business in filing cabinets using the space with plenty of paper documents linked to financial details of the business. These documents had all of the details in an organized fashion, such as: 

  1. Paid invoices of clients
  2. Unpaid invoices of clients
  3. Information regarding the payroll of every employee
  4. Payment records of business’s contractors
  5. Plenty of business-related files which are important yet of no specific use at the moment

These paper or cabinet files are never easy if you are looking for important data and viewing those records turns into a troublesome task. If a company is planning to prepare for the upcoming tax season, they need to review all files to collect the required data.

However, today we are lucky to have more technologically advanced management systems that have made the process much easier and more convenient for all accountants and bookkeepers. In this technological era, companies have a proper computerized system for entering all of the records of the company including the employee management system, product management system, inventory system and customer management system. All of these systems have made it easier for a business to locate any kind of digital data and use it easily. Similarly, if businesses adopt electronic filing methods for financial documentation, it is much easier for them to store data, locate it within minutes, retrieve information and share all bookkeeping records with other authorized employees digitally.

Getting Started with an Electronic Bookkeeping System

If your business is currently using the manual paper system for bookkeeping, this is the ideal time to turn towards digitalization. Digital bookkeeping has many benefits over the traditional bookkeeping system. It saves the time of the employees, retrieves the information much quicker, and even saves office storage space.

However, if you are considering the shift towards paperless filing of your financial data, you need to make sure that you make a proper back up of all of the information on a cloud so that you can retrieve it in case of an accident or data loss.

Shifting from a manual to a digital system will require time and effort at an initial level. A company needs to train their current employees regarding their new document management system so that they can get familiar with the system outlook and technicalites. The process of going digital starts with finding or outsourcing the design of an easy to switch document management system for the company. The designed system should keep the company’s business in mind. The main idea to avoid online cloud services such as Google Docs or Dropbox to maintain the security of the sophisticated data of the business. It is ideal to look for an enterprise management system for documentation such as a file cabinet. The file cabinet has multiple packages with plenty of options for accountants such as drag and drop storage systems, sub-folders for more organized data management, and a utility for scanning and searching the text.

When you have finalized your document management system, you can simply get started by forming all of the folders for your company. Designing a structure of your folders is the key to an organized management system. These folders may include sub-folders for all of your necessary financial accounts. Examples are below.

  1. Accounts Payable
  2. Accounts Receivable
  3. Vendor Receipts
  4. Banking
  5. Payroll
  6. Tax
  7. Loans

Once you are done creating a proper structure for the folders, you can put all of the files into these folders and organize your data in paperless filing cabinets.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services 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 and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

Going Paperless - Complete Controller

Daily, many activities occur in an organization, including production, distribution, sales, and procurement. All of these processes generate invoices, memos, purchase orders, and different documents every day. Most of these documents go through the accounting department, creating a mountain of paper for bookkeeping. Most of these papers contain sensitive information; hence, it’s not possible to throw them out. Disposing of these requires special machines and shredders, and they don’t come cheap! Check out America's Best Bookkeepers

To steer an accounting department toward going paperless, companies must invest in paperless accounting software. Usually, someone from an accounting department needs about 3 minutes to get a file from a cabinet. But in a real-life situation, it’s never 3 minutes. Adding distractions along the way like going to the bathroom, staying to talk to a colleague, getting a drink of water and many other distractions make it a 20-minute task! The estimated 20 minutes does not include the time it takes to consider the effort it’s going to take if the file is misplaced or stored in a different storage unit.

Fortunately, with different accounting management programs and ERP solutions for corporate use, an accounting department can become paperless in no time, saving effort, time, and precious resources.  Here, we will highlight five ways to help you keep the accounting department paperless.

  1. Time Management and Document Handling

When your company’s accounting department is entirely paper-based, listing and storing each document needs a sophisticated and often confusing process. For example, every time a purchase order arrives in the accounting department, the accountant must place it in a separate section with the time and date it arrived, correctly logged. Logging the time, date, client name, and order details are useful in retrieving the document, but it takes a lot of time and effort. Moreover, the accountant or bookkeeper is bound to make a mistake and incorrectly file the document at some point. Check out America's Best Bookkeepers

On the other hand, if you invest in accounting software, the accountant won’t need to file every document manually. The software will automatically generate invoices, sales reports, and purchase orders for every item. The accounting software will save time and make the entire documentation process simple, convenient, and easy to retrieve.

  1. Reduce Supply and Storage Cost

The accounting department’s documents rely on storage facilities, meaning that the department is cluttered with file cabinets and drawers overflowing with paper, printer supplies, and envelopes. The software will assist in making the accounting department go completely paperless. With no papers to store and record, the department won’t need large cabinets to store them. A paperless office in an accounting department will be cost-effective regarding spending money and space on storage units.

  1. Make the Retrieval Process Easier

Having accounting software makes it easier for you to retrieve information about any specific file without the need to fish through thousands of files in a large cabinet. The software makes the accounting department entirely paperless by its streamlined operations. Each file has its code or a serial number that allows swift access to any file, anytime. Proper content management features of the software are useful in organizing all the files according to any category the company needs to transform the workspace into a paperless office. Check out America's Best Bookkeepers

  1. Swift Response Time

When you have an efficient paperless office software to handle all business operations and content management, it makes it easy for managers and accountants to reduce their response time for queries from different departments. For example, suppose a customer calls to complain about a product defect in a new purchase, using the designated serial number. In that case, the accountant will retrieve all the necessary information.

  1. Invoice Processing is Easier and Faster

As the accounting software for bookkeeping relies on using electronic invoice processing, it eliminates the need to make the accountant enter the data on the invoice manually. Using software makes the procedure of invoice generation and storage relatively easy. Some software has a scan feature that allows the accountant to scan any crucial invoices still on paper.

Conclusion

Going paperless in any business is not just cost-effective and straightforward. It also makes things simpler for accountants to record all the invoices with ease. It makes it easier for an accountant to manage all the files and invoices needed for effective bookkeeping, as they are electronically generated. Going paperless in an accounting department is a step towards having a greener and better environment.

Check out America's Best Bookkeepers 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. Check out America's Best Bookkeepers