Those using cloud accounting software will probably be aware of the many time-saving functions available such as bank feeds, recurring sales invoices, links with other apps etc. However, there is one aspect which we strongly recommend every business do, and that is uploading the “paperwork” to the cloud products.
Why? Many supplier invoices are received by email, and, more often than not, we see these printed out to paper, passed to the accounts department, manually entered into the accounts, then hole punched and filed. Over the years, the number of invoice files mount up and waste significant amounts of space. You (or the accountants) want to see some of them – someone has to locate them and pass them on. Space-saving, time savings and a reduction in the use of print resources are three good reasons.
There is a range of options available, depending on the software used. At a basic level, it is possible to forward the electronic invoices into a “files area” in the software and scan or photograph paper invoices and upload too, creating the equivalent of a paper filing cabinet.
The next stage is to email or upload them. Then with the electronic document is onscreen, you can complete the posting entry in the accounts and save it – which attaches the invoice to it too.
A further stage is to send or upload the documents to dedicated software that extracts the relevant information automatically and then sends it to the accounting software – again with the invoice attached. If you view a transaction in the accounting software, the original document is just a couple of clicks away too.
We cannot emphasise enough how digitising the paperwork can be beneficial for all. We highly recommend you contact us, and we can explain or show how this may work, and potentially, at no additional cost to you.
There are also solutions to make your whole business paperless with cloud-based document management systems meaning all your “filing cabinets” are available securely from anywhere via the Internet – a real boon when working from home.
