If you own a small business it is likely that you know the importance of bookkeeping to the business. You may also be knowing that it is slow and has no value to the customer. It is a necessary evil you agree.
It becomes even a bigger problem to your side if you are using an outdated off site accounting service which emails or faxes you updates once a week or worse still you purchased an expensive bookkeeping software for your office only to find that it doesn’t offer you the flexibility that you require for meaningful reports. If you are faced with such a situation; it is time you considered an online bookkeeping firm that will offer you with the following several benefits.
You Have the Power of Control and Confidentiality
The majority off businesses owners who are not using an online bookkeeping service often express their fear of having their financial information floating around on the internet and is prone to being hacked. Today, security technology and secure servers have contributed to the internet being one of the safest methods to share information. Your records remain confidential, and the only people that can have access are those who you share your password with, and even then you can limit what they can see.
If you do your banking online, most of the online bookkeeping services can download 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 the system offers your 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.
Since your online system is recording and calculating in real time; it allows you offer your clients real-time answers to their questions. With your banking information integrated into the system, you have the latest data on payments received and refunds issued.
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 sure to look for more innovations that optimize data already in your system.