Cloud-based Accounting Tools for Your Business
We’ve been working hard researching and implementing cloud-based accounting and financial tools to help our clients organize their data and cut down on data entry while increasing accuracy. From an accounting perspective, our focus has centered on Xero (www.xero.com) and all of the ways Xero can help run your business more efficiently. The beauty of Xero is its seamless integration with many other cloud-based accounting and financial solutions. At PRM we’re using these solutions for accounts receivable, accounts payable, collections, vendor payments, and document retention all while cutting down on data entry time, streamlining our digital processes, and increasing efficiency and accuracy. All of the solutions we’ve adopted can be accessed in the cloud via web browser, phone, or tablet. These solutions really do make it easy to run your business wherever you are.
Bill.com is a great tool for digitally managing accounts receivable, accounts payable, collections, and vendor payments
- Simply fax, scan or email your bills to bill.com. No more opening mail, handwriting approvals and G/L coding directly on the bill. com’s automated system handles everything from approval to coding once the bill is received.
- The entire A/P approval and payment process can be managed digitally. Paying vendors is also a breeze using bill.com’s ACH or “ePayments.”
- Easily syncs w/Xero and QuickBooks further reducing data entry. Payments received and payments made using bill.com flow into your accounting software updating A/P and A/R seamlessly.
What bill.com customers are saying…
Hubdoc is a great storage tool for financial documents and receipts.
- Hubdoc imports your financial documents and receipts in 3 easy ways:
- Snap and send a picture of your receipt to your Hubdoc account using the Hubdoc app. We’ve been using this for all debit and credit card charges. Once in Hubdoc we have the ability to sync w/Xero. Data entry is easier (automated) AND the transaction will include a copy of your receipt. What better way to defend yourself in an IRS audit than to have the transaction properly coded and have a receipt attached?
- Link your financial accounts to Hudoc
- We’ve linked our bank and credit cards to Hubdoc. Hubdoc automatically imports each month’s statement
- Forward invoices from your inbox or have vendors send invoices to Hubdoc for you
- Hubdoc recognizes your email address so you can easily import documents into your account via email. Simply send a vendor invoice from your email account and Hubdoc places the invoice in your account
- Have vendors send their invoices to a specific email address provided by hubdoc. My vendors can send an email to email@example.com and those invoices will automatically import into my account
Quick Hubdoc video
Give these tools a try. My bet is that you’ll be amazed at the ease of use, quick set up, and convenience.
I’d love to talk with you about these tools and how they can transform your business’ efficiency.