Some astrologists assert that the Age of Aquarius began back in December of 2020, while others debate that it started on the vernal equinox in late March 2021. Either way, we’re in the age of favorable change - and one big change in global business is a new dependence on modern accounting technology. According to a 2020-2021 data analysis, the majority of accountants think that accounting technology makes them more productive while allowing for a larger client base. They even call cloud accounting a differentiator between outdated and modern bookkeeping processes. In other words: automation brings convenience. Online bookkeeping has quickly become a present need with a growing future, so much so that over 70% of small businesses use these services exclusively. Stay relevant and bring your business into an age of favorable change by considering an online bookkeeping service.
Benefit Your Business with Online Bookkeeping
The recent upward trend in cloud accounting has been helping out small and large businesses since the release of NetSuite in 1998, the first ever web-hosted bookkeeping software. It’s not so difficult to see why, either. Today’s accounting platforms can handle the bulk of strenuous bookkeeping duties which saves time for real, client-facing work. Rather than evaluating and reporting your revenue stream, you’ll have more bandwidth to actually build upon that stream of income. Plus, it can save you the financial headache of turning to Google searches and YouTube videos to understand cryptic accounting documents. These platforms focus on user-friendliness so that business owners can operate them with limited accounting knowledge. Additionally, the mobile responsiveness of modern accounting platforms is a dream for digital natives. For a quick look at your business’s financials, just reach for your phone and tap the app. It brings the office to you, which most people may not want, but business managers tend to greatly benefit from this on-the-go functionality.
Get Your Money Faster
Perhaps the most powerful tool in the online bookkeeping arsenal is the rapid invoicing, an important and formerly tedious task to carry out. This is yet another boost to your workflow efficiency - a faster flow of payments means quicker operations, and efficient operations are a prerequisite for rapid company growth. With an online bookkeeping service, mail-out and even templated email invoices are ancient history with instantaneous, automated invoicing. The hands-off, user-friendly, and efficient design of modern services makes things easier for your client too. Just like your own business, your clients probably have a tough time keeping up with their own pile of invoices. Automation will rapidly get your invoices to the top of that pile while reflecting well on your company’s client communications. Most importantly, you’ll get your money faster so that late bills and salary payouts are things of the past. You can even track invoices so that you know exactly when your clients receive them. Most online invoicing features also make a copy of every invoice for future reference, so no information is lost or unaccounted for.
If you haven’t already made the switch, look into a vetted online bookkeeping service for a more efficient workflow and timely payment processing. The capabilities of these platforms are running parallel with the new Age of Aquarius, promising favorable change to small and large businesses alike. Don’t miss out on a game-changing revolution in business finance.