How much does your paper shuffling cost your business?
It always amazes me when working with our client’s businesses how many of their offices are still dealing with a paper jungle.
Many small businesses seem to be behind the times and are paying accounting staff to paper shuffle piles of supplier invoices and credit card receipts. I can quickly ascertain how outdated some business system are by the stacks of paper and filing cabinets in their office, including A4 folders scattered everywhere and overflowing in-trays.
The accounts staff spend hours trying to collect credit card receipts from staff, normally never located as “the credit card holders dog ate it”! Not to mention the time spent trying to find that one important hard copy of supplier invoices in that trusty filing cabinet or A4 folder! Oops sorry, we seem to have misplaced it, so now I will spend time calling the supplier and request another copy. Businesses must keep documentation for 5-7 years for audit purposes and a large percentage of business will struggle doing a good job of this manually.
When I come across a business like this, I introduce a paperless solution however, like many people in business the fear of change of the unknown seems to be daunting so they continue to carry on set in their ways wasting time and resources.
If you take the time to explore there are some excellent paperless systems in the marketplace that integrate directly into your online accounting software. Our clients use Receipt Bank which includes an app on your mobile device allowing you to snap a picture of all your receipts or tax invoices on the go. It can read the information on the documentation and automatically upload it to your online accounting platform. With Receipt Bank you have the ability to check transactions before uploading into your accounting software to ensure they are correct or apply changes before import. You can create further automation for even faster processing by setting up rules, track jobs, or tracking codes to name a few of the features. Documents are all stored electronically, so say goodbye to paper trail and manual consuming tasks.
Receipt Bank integrates with all the main Australian accounting software including XERO, MYOB AccountRight Live, MYOB Essentials and QBO (Intuit).
2 Peas have a *Special Offer(*for new clients only)- a FREE 30-day trial to start your test run to a paperless office and to transform your business. CONTACT US and quote code RB2019 so we can get you started. This will include set-up of Receipt Bank and the integration to your online accounting system.
Embrace the change, transform your office and free your time to value add to your business differently.
Here is what Receipt Bank can work for you: