Clear your desk and simplify your life with paperless bookkeeping. Imagine not having the stress of paperwork in your small business. Wouldn’t it just make your life easier? It may sound far-fetched but paperless bookkeeping can actually be a way of life.
The introduction to cloud-based accounting software was the starting point to this life. Cloud-based accounting software uses automatic bank feeds. Bank feeds automatically import all of your bank account transactions. No need to print off statements or have them mailed to you. No need to manually enter bank data. Xero is one of more popular cloud-based accounting software products available. It has access to hundreds of banks, credit card facilities, PayPal and over 160 foreign currencies. Not only do bank-feed reduce the time you spend on your books. They eliminate your need of paper bank statements and start you on the journey to complete paperless bookkeeping.
Shoeboxed is a Sydney-based company that scans and organises your receipts, invoices and other documents securely online. Simply send (post or email) all your paperwork into Shoeboxed. Shoeboxed will then https://xanaxcost.com/anxiety-medication-xanax/ extract the data (date, vendor, amount, GST, payment type) from the documents. They then upload and store them in your secure online account. You simply check that they have been allocated to the right account type with the correct GST codes and import them into your accounting software. They can either send all your documents back to you or you can request that they shred them. They will store all your electronic copies online where you will always access them. Shoeboxed will even help you if you ever get audited by providing the Australian Taxation Office with access to your documents.
Cloud-based accounting and Shoxboxed will give you a strong start on your journey to paperless bookkeeping. They will help you simplify your bookkeeping and reduce your stress levels. If you would like to find out even more ways your small business can do paperless bookkeeping, please contact us. At Prestige Bookkeeping Solutions, we pride ourselves on providing bookkeeping innovation and efficiency for all our clients. Check out our bookkeeping services for more detail on how we can solve your bookkeeping needs.