How great would it be if your bookkeeping just did itself?
With automated bookkeeping, that’s exactly what you get!
Automated bookkeeping can reduce stress, time and cost when it comes to bookkeeping services for your business. Our bookkeepers in Melbourne have seen its power first-hand (which is why so many of our services revolve around setting businesses up with these systems!)
Just imagine not having to pore over spreadsheets, compile reports or manually double-check all your transactions. Imagine getting all that time back to work on other things, or simply catch your breath.
Today, our Melbourne bookkeepers will explain how automated bookkeeping can let you do just that (as well as the other fringe benefits you can expect!)
What is automated bookkeeping?
Automated bookkeeping uses technology to automatically perform parts of the bookkeeping process that would otherwise be done manually.
That’s it – it really is as simple as it sounds!
That brings us to the second question: how can you implement automated bookkeeping in your business?
With cloud bookkeeping, that’s how. In fact, automated bookkeeping and cloud bookkeeping are essentially one and the same!
“How can cloud bookkeeping automate my bookkeeping?”
One of the benefits of cloud bookkeeping over traditional spreadsheet or pen and paper bookkeeping is the fact that it’s digital.
And since it’s digital, that means that it can do certain things that traditional bookkeeping can’t.
One of these features is its ability to integrate with all of your accounts, systems and databases:
- Bank accounts
- Inventory databases
- Credit cards
- Payroll systems
Imagine receiving a deposit from a debtor and having that information recorded, added to your ledger and included in an accounts receivable and cash flow report without having to lift a finger.
Cloud bookkeeping allows you to do just that. That’s how cloud bookkeeping is able to automate your bookkeeping.
Thanks to its integrations, cloud bookkeeping essentially automates your bookkeeping – all you’ll have to do is check it!
That’s not the only benefit of automated bookkeeping…
Eliminate human error
People can make mistakes – and if you don’t have a head (or passion) for numbers, you might be even more susceptible.
Maybe you’ve had a long day, or you just aren’t really a maths-minded person. As a result, you may:
- Incorrectly enter data
- Overlook invoices
- Make calculation errors
- Enter incorrect dates
This can lead to problems such as:
- Incurring late fees and losing early payment discounts
- Wasted time and effort spent dealing with issues and fixing mistakes
- Financial headaches if problems aren’t detected
- An inaccurate picture of your cash flow and finances
Luckily, automated cloud bookkeeping can eliminate these problems.
Thanks to its integrations, you won’t have to perform any manual data entry, ensuring that data entry is 100% accurate, every time.
What’s more, you can also create automatic reminders when an invoice is due, or action systematic workflows for invoice approval in your business.
Save money and time
Want to reduce costs in your business and simultaneously get your time back? If so, automated bookkeeping is a great way of doing so!
It’s pretty clear how automated bookkeeping can save time – you won’t have to do any manual bookkeeping thanks to its integrations and automated reporting.
Automated and cloud bookkeeping also means less time spent on bookkeeping. Less time on bookkeeping allows more time for other parts of your business.
Alternatively, it could mean more time at home with your family – small business owners are among the busiest people in the country, after all!
But how can it save you money?
Simply put, not all small businesses have the money to employ their own in-house bookkeeper.
Cloud bookkeeping services (and all of their automation features) by contrast are much more affordable, with only a small monthly fee to worry about (the size of which will depend on your package).
Protection from fraud and cyber attacks
Worried about security? Or about giving one person total control over your bookkeeping?
It can be a scary thing to contemplate, but no business is immune to cyber attacks or fraud.
Automated bookkeeping combined with cloud bookkeeping however can get you pretty darn close, however!
With automated and cloud bookkeeping, a business owner (or anyone else in an oversight position) has easier access to bookkeeping information. You can easily access your bookkeeping from any device with an internet connection.
Not to mention, many cloud bookkeeping platforms also come with log-in tracking, allowing you to match manual edits to specific users.
All of this is then protected by the digital equivalent of a safe, with extensive firewalls, encryption and backups keeping your small business bookkeeping safe from cyber attacks.
Automate your bookkeeping with our bookkeepers in Melbourne
Eager to take your bookkeeping to the cloud? Give our bookkeepers in Melbourne a call!
We’re much more than bookkeepers – our team are leaders in cloud bookkeeping for small businesses.
Our small business bookkeeping experts have set countless small and medium businesses all over Melbourne up with lightweight, easy to use (but nonetheless powerful) bookkeeping solutions that automate your bookkeeping.
Maximum Business Solutions is a specialist in cloud bookkeeping. We provide businesses just like yours with:
- Transitioning to cloud bookkeeping
- Training and implementation
- Process implementation
- Custom cloud bookkeeping solutions