Managing any type of business in today’s competitive marketplace is challenging and small business owners have enough to worry about without stressing over their bookkeeping. Entering receipts and invoices always seems to be an afterthought or the lowest priority item on your to-do list, but you can’t ignore them forever. You don’t want to wait until tax time to figure out your finances.
That is why I recommend online bookkeeping software for all small business owners. It is the fastest and easiest way to stay on top of your small business’ finances. It will give you an organized system for managing all of your estimates, client information, payables, receivables, and financial reporting.
Accessible & Convenient
Managing your bookkeeping and invoicing online offers real convenience since it is accessible from anywhere. All of your information is kept online, so you can reference important financial reports, update receivables, enter invoices, and analyze your cash flow using any device with internet access. This will allow you to make sound financial decisions using accurate figures wherever and whenever an opportunity or challenge presents itself.
Online bookkeeping software allows you to quickly enter invoices into pre-set templates and then email them directly to your clients. This capability means that you can finish a project, enter the invoice, update your financial report with the new receivable amount, and place the invoice in the client’s hands all within a matter of minutes. Most online bookkeeping software programs will also request a read receipt for each invoice, so you can be sure the client has seen it.
Enter Expense Receipts
Online bookkeeping also means you can immediately enter your expense receipts as they occur instead of collecting a pile of different restaurant and gas receipts while you are travelling and then waiting until you get back to the office to enter them. You still need to keep a copy for tax purposes, but at least you won’t be scrambling at tax time to make sure that you have accounted for all of your expenses.
Saves Time & Money
Online bookkeeping software has auto-fill entry and calculation features that will save time and its ability to email invoices directly to your clients will reduce the amount of money you spend on paper, envelopes, and stamps. It is also so fast and easy-to-use that you won’t have the expense of hiring a bookkeeper or an accountant.
Small businesses should manage their bookkeeping online because it is easy, accessible, convenient, and it allows for instant invoicing and receipt entry. It truly is a great way to save time and money, while ensuring that all of your financial obligations are met.