As a small business owner of a slightly older generation, keeping up with technology and the pace of change can at times be overwhelming! For me to keep up, I leverage resources, applications, software, systemization and people to help combat the pressure of daily time restraints. There is NO way I can do it all myself, by the time I complete training, something newer and better already exists! Our clients are asking for lower bookkeeping costs and our team needs to do things differently in order to help us and our clients.
What doesn’t change is my approach to improved efficiencies, and the decision to use new tools to help in this area. In 2018 employer costs increased directly related to employment standard changes and increased CRA requirements, and these changes accelerate the need for us to do things differently. We trained our bookkeeping team on cloud-based software and automated bank feeds. This resulted in less time posting journal entries and simplified reconciliation processes. This one thing accomplished both 2018 goals, of improving our efficiencies and lowering our clients bookkeeping costs! It was a win/win!
In 2019 our goal is to leverage cloud-based apps that interface with bookkeeping software and continue to improve efficiencies! The first goal is to reduce the need for client’s expense receipts to be dropped off or emailed to our office. Wow, just imagine having bookkeepers who don’t need the expense receipt? Can that be possible? Why, yes, it can!
We have become a certified QuickBooks On-Line Firm and are now partnered with a software program to help us and our clients GO PAPERLESS! In a nut shell, this program interfaces with the bookkeeping software, our clients take a picture of the receipt using their phone, the program uploads this image and we are able to import the receipt expense into our bookkeeping software! The journal entry is posted, the image is stored as an attachment and our team simply reviews and confirms accuracy! The attachment meets CRA requirements, so if the original receipt goes missing, we have it covered!
If you want more information on ways to reduce your bookkeeping costs, improve efficiencies, go PAPERLESS and explore a new way of working, contact Business Innovation Group at bigbizgrowth.com, 780-538-4699 or myself directly at firstname.lastname@example.org
Here’s to wishing you BIG results for Business, new ways of working, and profitable growth!
Leanne Bradley, COO and VP of Human Resource Services.