If you own a small business it is likely that you know the importance of bookkeeping to the business. You also know that bookkeeping is a task that is time-consuming and adds no value to the consumers. It is a necessary evil you agree.
It can be a thorn too if you have to use and off site accounting service that will be faxing or emailing you weekly updates or you buy an expensive bookkeeping software that will not offer you the flexibility that you desire. If you find yourself in such a situation, you need to consider switching to an online bookkeeping service and benefit with the following.
Confidentiality and Control
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.
The majority of the online bookkeeping systems can download your banking records if you bank online and save them 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.
Accessibility: The fact that your bookkeeping records are online, you can access them from anywhere that has an internet connection. It also means that you are not limited to one PC in order to access your data, and obviously you don’t have to wait for a weekly update from the accounting service.
The online bookkeeping system allows business and management style that is unique. It allows you to customize your financial information in a format that fits the business rather than having to fit 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. If your banking information is integrated into the system; then it means that you have the newest data on payments received and refunds issued.
A marketing Machine Option
There are optional programs available that make your bookkeeping system a revenue generation tool. Some of the systems have integrates an email marketing software that uses the customers and vendor lists available in the system to send professional emails and track their performance. Be sure to look for more innovations that optimize data already in your system.