As technological innovations influence the world around us, its affects on business processes cannot be ignored. Technologies associated with the Fourth Industrial Revolution are influencing the business world around us, with the rapid shift to cloud-based online solutions quickly replacing its conventional desktop predecessors.
The accounting sector is no different, with online platforms such as QuickBooks Online proving their worth by offering a solution that is efficient, effective and convenient. The shift to online presents a number of advantages for daily tasks including:
The ability to work from anywhere
Working on a cloud-based platform allows users to operate from anywhere and at any time, with the ability to send invoices, reconcile accounts, generate reports and more from the convenience of their smartphones or tablets.
Fewer data entries
Online accounting software automatically downloads and categorises bank and credit card transactions, reducing the need to manually upload – giving you more time to focus on other areas of your business.
Capture receipts on your phone
QuickBooks Online has a user-friendly mobile app that makes capturing an expense a breeze. Simply snap a photo of a receipt on your smartphone or tablet and attach it to any transaction.
Access on PC and MAC
Not everyone operates on the same platform, and it’s for this reason that QuickBooks Online has enabled full functionality across all platforms.
Share books with your accountant
Accountants can access client books remotely to answer questions, fix problems and just about anything else needed to prepare for the tax season.
Keep abreast at the touch of a button
QuickBooks Online allows customers the ease of keeping tabs on their business with the ability to access customer info, late invoices, and more straight from their smartphones.
The functionality of any online or cloud-based accounting software is key when persuading customers to shift to the online solution.
It negates the need for users to perform constant updates, with new versions being released and automatically reflected online. Instead of manually sending transactions to clients, QuickBooks Online allows for recurring transactions to be automatically emailed to the client with the user being copied in each email.
While desktop solutions show unbilled time and expenses, users are still required to manually bill the customer. QuickBooks Online gives users the ability to turn on a preference which instructs the program to do this automatically any time the activity is assigned. It goes beyond simply showing when a transaction was created, modified or deleted; and indicates when a user logs in or out, or when account edits are made. It shows when a third-party accesses the data, bank transactions are downloaded, and those transactions are matched or added.
Additionally, QuickBooks Online features automatic email reporting where key reports are sent out each month without the need to log in; automatic back transaction downloads nightly; multiple AR/AP lines in Journal Entries; and access for up to five users.
“The benefits are endless and far outweigh the capabilities of desktop. There’s never been a better time to move your business into the cloud in an easy and affordable manner. And, don’t worry about migrating your data over – our team will do it for you – free of charge,” concludes Bridget du Toit, Head of Services at EasyBiz Technologies.