All good business owners know that time is a valuable asset, so you need ways to make accounting easier. Investing copious amounts of time into QuickBooks isn’t always the best option. We’re firm believers that you shouldn’t have to do a lot of data entry style accounting to reap the benefits of great financial information. There are several options that can help you save time with bookkeeping and improve your ability to make smart choices for your organization.
3 Ways to Make Accounting Easier:
1. Automate Processes With Technology
First of all, there are apps and websites for just about everything you can imagine. This includes technology that can make bookkeeping and finances much easier to manage, access and review. We’ve found that both FileThis.com and Bill.com are highly dependable and we usually recommend them to our clients. Furthermore, their attributes will not only help you save time but will make the accounting process simpler.
Bill.com offers several features that will help you eliminate stress. The site’s features help eradicate the bill-paying process while allowing you to have complete control. You can control its features and choose whether bills need your approval first or they can just run automatically. The service also allows you to send your bills to its headquarters, where they will be entered into the website. From there, they can be paid upon your specifications, entered into your online bookkeeping system (QuickBooks or Xero) and filed.
FileThis.com accesses your bank, credit card and other accounts online to pull statements, bills or other information all into PDFs on their cloud. This allows you to see everything in one place as well as easily access them from anywhere on any device and only using one password.
Similar to: ( Improve Your Accounting Technology By Asking These 3 Questions )
2. Don’t SALY (Same As Last Year)!
Another method is simply using the methodology of, “doing it the right way and not the same way.” We have done many of our client’s books for many consecutive years, observing several situations and circumstances. We’ve found that unless a mistake is corrected and education happens, it will happen every single year. Why is that problematic? You can make accounting easier by using a faster and more accurate process. In addition, it can negatively impact the amount of time it takes your accountant to keep correcting that mistake every year.
Therefore, you should take the time to learn from either your accountant, online videos, training, or your software’s FAQ help section. Don’t be the business owner who spends hours on their books. There are more cost-effective ways to accomplish it. Sometimes, hiring someone else to do it is the best option.
3. Leverage resources. Does your CPA have a cloud? Portal? CFO?
You might be the sole owner of your company, but you aren’t alone. There are many resources available to business owners that are designed to save you time and money. The Institute for Family Business, the Fresno Economic Development Corporation and the Chamber of Commerce are just a few local organizations whose mission is to help businesses thrive. In addition, many accounting firms have adopted technology and are offering clients to use their cloud for minimal cost. Whether you need consulting on business strategies, help to sort out your books, or direction to meet your goals, reach out to leaders in your community.
We created the WHH Controller Program to solve all these problems in one suite of services. Depending on your needs, it can serve as a one-stop-shop for technology or as a fully functioning external accounting and CFO department. Click here to learn more.
By Stacy Bring, Director of the WHH Controller Program
Stacy is a Fresno State educated MBA who has served in accounting, controller and CFO roles for several local businesses. Her unique talents and experience teach business owners to translate numbers into useful and
forward-thinking business decisions.
