Why Bookkeeping is All About Workflow

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Ongoing technological innovation in the accounting industry today means that bookkeepers must use increasingly capable automatic workflow systems in order to efficiently manage data from varied sources. The bookkeepers that do not are at risk of becoming redundant.

While there are some businesses out there still using manual data entry, more and more are moving toward software platforms like FreshBooks, QuickBooks, Sage and Xero with the help of their bookkeepers.

These automated systems allow bookkeepers to give up their traditional time-consuming, low-level tasks and focus on the more complex aspects of their clients’ business finances. However, software alone cannot do everything: humans are still needed in order to oversee the books and to help translate the data into useful, actionable information for their small business clients.

There is a space for bookkeepers in the future, and it is with technology, not against it. When it comes to accounting software, there is no one-size-fits all solution: different tools are available for different tasks.

Businesses must choose the right solution to suit their requirements and, equally important, a solution which meets their ethical standards in terms of data security. It is often left to the bookkeeper to choose their client’s software platforms and additional tools, and there are many platforms and apps to choose from which are designed specifically for bookkeeping and streamlining business workflows for accounting professionals, and even for specific niches of clients within this category.

There are strict standards in many areas of accounting and related business regulations, and software solutions can help bookkeepers to make sure each of their clients is compliant, as failure to do so can have serious consequences. A good way to stay in the know about the many options on offer is to join a community that works with leading solutions providers to educate their members and the wider bookkeeping profession on what is available.

The key features that your workflow system should have are as follows:

  • First of all, the system should provide an easy method for your clients to send you data and information securely and easily.
  • The system should also make it simple for you to manage and review the data easily, and add it into the bookkeeping records.  
  • Lastly, it should deliver the documents and completed reports on time and conveniently.

One tool which includes all these features is SmartVault. It is easy to use, secure, and affordable for small businesses and freelancers. There are other programs in the market too, for example WorkflowMax, Quickbooks Online Accountant, and Trello. All these programs give different features at different prices.

Find out which one is the best choice for you according to your business and budget, and if you’re an ICB member check this list to see if there’s a special offer available. No matter which system you use, the key is to remember that workflow as a management process is now vital if you want to make sure your business is future-proof.

About Jan Haugo

Jan Haugo

Jan is the CEO of ICBUSA, a division of the Institute of Certified Bookkeepers Global, and owner of bookkeeping firm Jan Haugo & Associates

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