Your bookkeeping is always a pain to work on but it has to be done. You need to be able to keep track of the finances, what’s going in and what’s going out but there never seems to be a simple enough way to do it. Now, people are starting to realize that you can simplify the bookkeeping by doing it through cloud services.
Your bookkeeping becomes always up to date automatically, so that you aren’t dedicating a night each week to do it yourself any longer. When tax time comes, you have your records up to date and easy to access. If you’re ready to make the switch to cloud technology to simplify your bookkeeping, here is a look at how to go about it.
Who offers cloud bookkeeping?
You can access this option through free and paid sources. There are two free services that you’ll want to check out while there are a few that require payments but do a great job. You may have to make payments through PayPal as a client of a virtual assistant but it can be expensive when around 3% of it is kept by PayPal for their service.
You also may get the option of a merchant service account, another way to say a credit card payment, but your small business may not prefer this seeing that the credit card option costs your business money every month and every year in compliance charges. American Express alone makes payments difficult to do so it isn’t even worth the hassle to have the card. The good news is that there are more cost-effective ways to make credit card payments and receive payments on PayPal for just 50 cents.
What are the benefits of the cloud?
It’s going to make your bookkeeping so much easier to use the cloud. It will keep your bookkeeping up to date for you instead of you having to find the time each week to manually handle it. It will reduce your administrative time that you spend maintain your business’s bookkeeping and your bookkeeping cloud service can automate the tasks which will reduce your task time even more.
In addition, it will keep up your books on a monthly basis so that you can run financial reports whenever you’d like to check out company’s financial health and where improvements can be made. Plus, you can now offer your clients several ways to make online payments through the cloud, because they can now pay through major credit cards like AMEX. They’ll just need to pay processing fees but AMEX doesn’t charge monthly or annual service fees.
Your customers will not only love the multiple payment options but your Accounts Receivable will have a quick turnaround time now. Receive PayPal payments for just 50 cent charges. Billing by the minute or hour is easy to track and simple to invoice from time records. Plus, if your team needs to be billed for billable time, you can do that no matter how big your staff is.
Why the cloud is worth it
By using the free services or a third that costs up to $72 per month, you’ll save in fees through PayPal and you’ll save on your work time. Your PayPal fees will be massively reduced compared to the typical 3% you would have to give up for every dollar you collect through the site. You’ll also save countless hours of invoicing and bookkeeping which leaves you more time to work and bill and your clients.
Consider switching to the cloud technology to simplify your bookkeeping which results in saving your dollars and minutes every week to handle other tasks.