If you are a business owner, then you know that bookkeeping is an essential part of the business. Also they most likely know that it is a time-consuming task and adds nothing of value to the customer. It is a necessary evil you agree.
It can become more troublesome for you if you have to rely on an off site accounting firm that emails you updates on a weekly basis or worse still you have bought an expensive bookkeeping software for your office only to find out that it doesn’t offer you with the flexibility that you need for meaningful reports. If this is your situation; then it is time to switch to an online bookkeeping service and start reaping the following benefits right away.
Offers You Control and Confidentaility
Business owners who are not using the online bookkeeping service cite their fear that all their information is floating around the internet exposing it to being hacked by anyone. Today’s security technology and secure servers makes the internet one of the safest methods to exchange information. This ensures that your records remain confidential and only those that you have given your passwords to can access that data, and you still can limit what they can see.
Integration: If you bank online, most of the online bookkeeping services have the capability of downloading your banking records directly into your bookkeeping system. The the idea of online systems is to use the data it stores and simplify repetitive tasks and thus lower the number of duplicate entries that have to be made.
Since your bookkeeping records are online, it means that you can access them from anywhere as long as you have an internet connection. You are also nit limited to a particular computer in order to access your data and most specifically, you will not have to wait for the weekly updates from the accounting firm.
The online bookkeeping system allows business and management style that is unique. The the system gives you the chance to customize the format of your financial presentation in a way that fits the business rather than having to fir the business to a standard format.
Improved Customer Service: The fact that your online system is recording and calculating in real time, you can offer your customers with real-time answers to their questions. If your banking information is integrated into the system; then it means that you have the newest data on payments received and refunds issued.
Offers a Marketing Machine
With the optional programs available; it is possible to turn your bookkeeping system into revenue earning machine. Some systems have integrated email marketing software that takes advantage of your customer and vendor lists in the system and can send out professional email marketing pieces and their track their performance. Be on the lookout for models that optimize data existing in your system.