How to Get Rid of Bookkeeping Chaos
Perplexed accountant looking at huge piles of documents held by his business partners while doing financial reports
I’m amazed by how many companies still spend tons of time to organize their business’ books. Every time a source document needs to be tracked or that a bank statement needs to be included in an account reconciliation, it is the same story all over again: total chaos.
When it comes to small business the situation is even worse. Usually, the business owner will be responsible for organizing the majority of the books himself, which can be a nightmare for people with no Accounting/Bookkeeping background. The amount of time and money that is wasted in this mess is huge, especially when added up at the end of the year. Good thing is, Forwardly is here with some valuable tips to help putting an end to that chaos.
The very step you can take to improve your company’s books is to digitize all documents your company has. That’s right, even that $2 parking receipt from 7 months ago or that restaurant bill from that business dinner, make it digital! Documents that are stored in digital formats are much easier to handle and to access. This change alone can save tons of time for you every single month.
Another necessary change to enhance your books organization and security is to upload your data to the cloud. By doing this companies can save their information on external servers that can be accessed at anytime from anywhere. Some cloud service providers such as Welcome Networks offer military-grade security for virtual desktops so small businesses can enjoy a hacking-proof storage environment.
Yes, the measures previously mentioned are highly important to help you overcome the bookkeeping chaos, but the most important thing you can do about that is definitely implementing an online accounting software instead of the old fashioned offline desktop systems. These online programs allow you to send invoices, create bills, do bank accounts reconciliation, see financial reports, and many other benefits using the cloud. Forwardly free online accounting software even provides businesses with exclusive resources such as source document upload to make sure their financial books are always kept accurate and organized. Forwardly also allows you to keep a close eye on your transactions through cash flow statements, balance sheets, and all other pertinent records registered in the system, and you can do this using any device connected to the internet.
By implementing these actions your company will save time, money, and it will be much more secure by keeping organized books synched to the cloud. The bookkeeping chaos that most small businesses face on daily basis can be easily avoided if the right solution is chosen, so give Forwardly a try and see how tangible results will come after the very first month!
| Having trouble with managing cash flow? Forwardly is the one-stop cash flow management platform designed for small businesses, so you can improve your cash flow with ease and bring certainty to the business’s future. Sign up now for free. |
Image source: graphicstock.
