Documenting is easy as 1-2-3
Many small businesses get caught in the whirlwind of falling behind in their paperwork because they have not discovered or utilized automation to make their bookkeeping process easier. Believe it or not, many feel that as long as they have the bookkeeping software in place (ie Quick Books), they have fully automated. This is not the case. Having software to track entries is one of the steps to full automation. Still, there is the process of organizing and categorizing your data before entering it into the system. This is where human error happens if you don’t have a basic knowledge of bookkeeping. For those who are still learning, there is an easier way. Automating various bookkeeping tasks will not only keep you up to date in your paperwork, it will also streamline your entire process and save you valuable time, which can be fully utilized in other revenue producing areas of your business.
There are various products on the market that aid in automating the documentation process and are able to be fully integrated with your current bookkeeping system. With these products, you will be able to scan, organize, and in some cases attach them to your bookkeeping transactions.
Smart Vault - this on-line document management system is available for a monthly subscription fee as low as $15. Being able to access this system anywhere anytime is a major plus for e-businesses. You will be able to scan, attach, share and store your documents all within Quick Books. There is no per user charge with this product, so you are only subject to the one low monthly fee. It is currently being offered with a 30 day no risk free trial.
PaperSave® - this document management system is a standalone module that must be installed on your system. Although it’s a little pricier, $195 for a single user, you will have the ability to integrate your records directly with MS Office products Excel, Word, Outlook, & PowerPoint. Having the same ability to scan, attach, share and store documents, the software holds it own by electronically storing over 200,000 documents.
Ultimate AppendIT - this software is unique in that it creates Windows folders on your PC in directories organized the same as QuickBooks lists. All documents, images, desktop shortcuts and web pages, which are placed in a folder, are easily linked to your QuickBooks entry. You maintain full control over what’s linked and how automated you want it to be. This is a standalone program that’s easy to install and only cost $24.95 to $49.95.
Managing your small business is very time consuming, so make sure you have the tools necessary to keep you ahead of the game. Automate wherever you can to give your company the competitive edge it needs in time management and document storage and retrieval.
Partnering for your success,
Jacqueline E. Williams
Financial Strategist
Top 10 Reasons to Use a Virtual Bookkeeper
How much is your time worth?
Having a virtual bookkeeper is fast becoming an essential need for the busy entrepreneur, small business owner and person on the run. With the advent of new technologies and ways of doing business, the VB is here to help you along your way. Below are ten reasons to hire a Virtual Bookkeeper.
1. Focus on the business of making money.
Having a VB allows you the freedom to create more profitability for your company by allowing you to concentrate solely on your business, not the mundane tasks that are inherent in business. Making money is what business people do and the more time they have to concentrate on their business, the more money and opportunity they will create.
2. Saves you money.
Why invest in payroll, benefits, insurance, etc., when you could be delegating that money to building your business. Why worry about personnel calling in sick or taking vacations? There is no need to hire in-house personnel when a Vb can be there when you need them to perform the duties that you need in running your business.
3. Freedom to pursue pleasurable activities.
Having a VB work with you frees you up to pursue the activities that help keep your creative juices flowing. When you are bogged down wondering if the bills are paid, you are not thinking about new and exciting ways in which your business could be growing.
4. One-stop shopping.
A VB can perform duties that range from QuickBooks support & training, complete data entry & journal entries, accounts receivables/payables, reconciliations, financial statements, complete payroll, taxes, notary services, & sales & use tax reporting. There is no records management duty that a VB cannot perform or would be willing to learn.
5. Tailored to fit your needs.
Whether you need in-house training & support or would like to outsource completely, a VB can perform these duties. They are structured to fit each individual client’s needs. Fees are arranged for monthly pricing packages to hourly consultant rates. Whatever your needs are, the VB and you create your own individual working partnership.
6. Freedom to work from any location.
Whether you are in your office, your home or on vacation in Tahiti, a VB is always accessible to you. Contact is maintained through telephone, fax, E-mail, and online messaging.
7. Delegate time-consuming responsibilities.
Let a VB take care of those responsibilities so that you may pursue (worry-free) the business of living your life and running your business.
8. Highly trained personnel.
VBs are professionals that have training in the corporate, small business and professional world and have tailored their skills to meet with the needs of the modern day business professional. They have found that every professional has varying needs and offer their expertise in caring for these needs.
9. Individual service provided.
For the entrepreneur, freelancer or small business, it is important that your particular needs are seen as unique. A VB is the person who will oversee your records management system. They can train & develop your staff, maintain your general ledger, pay your vendors, invoice your clients, pay employees & payroll taxes, generate periodic reports for management review, or reconcile your accounts monthly. They act as your partner in caring for those tasks personally.
10. Let their strengths be your strength.
Why waste time on tasks that are not your primary objective? Being a successful business owner entails hiring the right people for the right job. By hiring a VB, you are partnering with the professional that has the knowledge of the inner workings of the financial and corporate fields.
JANUARY SPECIAL: Save 20% on bookkeeping services. Contact us today for details!
Jacqueline Williams
Financial Strategist
FRESHBOOKS – a new perspective
Greetings to all!
Today I am introducing software that’s innovative in its own right. I’m talking about FreshBooks. Now must won’t consider this to be accounting software, but it serves the purpose of some accounting functions.
FreshBooks is more of an invoicing and time tracking software. It has the capability of creating, sending and managing all invoices, tracking time and expenses for you and your staff, automating notices of late payments, and accepting payments through PayPal and Authorize.net. Being that this product is not a complete accounting software package, it appears to be more suitable for freelancers and independent contractors who need assistance managing their customers. One of the best features of this package is that there is a free version! Pricing depends upon the number of clients you have and the number of staff who will access the system. So, if you only have no more than 3 clients, this is a very cost-effective way to manage your invoicing and collections. If you can’t find the package that’s right for you, then you have the option of customizing one. Like QuickBooks, Freshbooks offers a money back guarantee. If not satisfied, return your product within 30 days for a full refund. The absolute best feature is that this system is completely on-line and loaded with tons of security safeguards.
Freshbooks could be the fresh new perspective you’ve been searching for.
Thanks for coming along with me on the journey to software selection. Hopefully by now you have enough information to make the best choice.
As always,
Here’s to your success!
MS Accounting – a different choice!
Welcome back to all who seek the right software!
I purposely started my series with “familiar territory”, speaking of QuickBooks and Peachtree. The market is saturated with users of these products. So, for the next few series, I will focus on the not so familiar products. Those products, that for whatever reasons, many companies don’t consider.
Welcome to the Microsoft Accounting zone! Ms Accounting Professional, also a small business accounting solution, helps to organize your data for financial reporting purposes. The twist here is that this program automatically integrates itself with the other line of Microsoft products (i.e. MS Office, Business Contact Manager, Outlook). This makes information sharing much smoother. It has the same functionality such as tracking expenses, managing employees, invoicing, and includes at least 70 customizable reports. MS Accounting Professional is great for on-line marketing, allowing you to sell your products or services on eBay. There is also an integrated PayPal option. My guess is that most users enjoy being able to create quotes, sales orders and customer invoices directly from MS Outlook using the Business Contact Manager. All this is done without having to transfer the information from one application to another. MS Office Accounting Express is a lower version of MS Accounting Professional. It will have the basics of any first tier accounting software.
Actually two versions are offered in each class of products; the lower versions consist of Express and Standard, and the higher versions consist of Professional and Professional Plus. The major differences that exist between the versions involve reporting capabilities and advanced accounting features.
Our next feature will take a look at FreshBooks software.
Here’s to your success!
PEACHTREE – Which version is right for you?
Welcome back! This segment we will focus on the family of products offered by Peachtree. By the end of this 8 week communication, you will have a better idea of which product will suit your needs. Please understand, it is not my intention to rally for one product over the other. The choice is yours. I’m only providing the facts so that you can make an informed decision. So, let’s start with our next featured product. Peachtree, just like QuickBooks has many versions to choose from. Starting with the most basic version;
Peachtree First Accounting is for the entry level small business. If you’re ready to upgrade from your manual system, this is the best place to start. It’s very user friendly, and able to handle your basic needs.
Peachtree Pro Accounting is the next step up, offering multi-year reporting, flexible payroll management, real-time error alerts (a plus!), and cash flow management. This version is for the company who is just a step beyond the basic accounting needs.
Peachtree Complete Accounting is for those companies who have higher level accounting issues. With time saving functions, like recurring and memorized transactions, internal accounting reviews, and email alerts, your productivity will definitely soar. Complete also has multi user capabilities with over 125 customized reports and financial statements. This is definitely a step up from the rest!
Peachtree Premium Accounting is a more advanced higher level operating system. This version allows departmental financial reporting, multi-company consolidated financial statements, planning, budgeting, and forecasting. And get this. Premium comes with a report designer that allows you to create what-if scenarios. What a plus!
Last, but definitely not least, Peachtree Quantum is the most high powered comprehensive software in the line of family products. It has multi user capabilities for up to 30 local or remote users, and also comes with a Business Care Plan that includes one year of unlimited access to support.
Peachtree, just like its competition, offers an assortment of industry specific products too. Construction, Distribution, manufacturing, and Non-profits, complete with sample company files in each industry.
Join me for my next article, in which I discuss MS Accounting products.
Here’s to your success