Advantages of Bookkeeping With an Effective Document Management System

Technology has made it possible for organizations to rid themselves of bulging filing cabinets and rooms dedicated to archived material. Document management systems can be used to track and store electronic documents and scanned images of documents. Cloud-based document management systems offer added benefits such as reduced costs, off-site backups, and improved accessibility.

These systems are especially helpful to bookkeepers and their clients. If documents are scanned and stored in a cloud-based storage system, both the bookkeeper and client can access these documents simultaneously. Invoices, receipts, bank statements, and more, can all be uploaded and accessed as required.

Many of these document storage systems provide seamless integration with your current accounting software. This means you have the ability to add documents in the system, directly from your accounting software. Electronic documents supporting your financial transactions can be located and emailed from within your software. Why trust your business to beginners which you can hire a professional bookkeepers Melbourne to handle your bookkeeping job. Rest assured it will be taken care of professionally and carefully without any problems on the rates.

There are significant cost savings associated with using electronic document management systems as opposed to traditional paper filing systems. There are the obvious direct savings relating to using less paper, as well as savings for reduced storage space and reduced energy costs as fewer printers will be required. These savings will be enjoyed by both the bookkeeper and their clients.

Another major incentive is increased productivity. Paper documents are considerably harder to find. There is also the issue of compliance which requires organizations to be able to readily access vast amounts of information e.g. Sarbanes-Oxley and HIPAA.

Security is another important factor. Fortunately, most systems offer data encryption, password protection and an audit trail which keeps track of all users and the files they have accessed, edited or uploaded.

One of the most important benefits, though, is the fact that the system offers real-time collaboration. Bookkeepers and their clients are working off the same page by being able to access the latest information whenever they need to. Bookkeepers can ensure that all records are kept up-to-date in the accounting software and clients know how their business is performing at all times.

All documents are backed-up off site which ensures that no data is lost or damaged. Cloud-based systems usually provide a means of accessing information from any Internet-enabled device. This means you can access documents from anywhere in the world using a device such as a laptop or smart phone. This is a beneficial feature for bookkeepers and their clients that don’t want to be tied to an office or specific physical location.

However, Bookkeepers Melbourne serves small to medium-sized businesses across Australia. Our cloud-based bookkeeping solution allows us to efficiently manage your business bookkeeping needs without having to be physically present at your office. Our services include bookkeeping, payroll, tax preparation, forensic accounting, and CFO consulting. For more information, please visit us at www.bookkeeperco.com.au.

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