Page 49

Save Crazy Amounts of Time on Bookkeeping and Get on with Your Business | SMALL BUSINESS

Save Crazy Amounts of Time on Bookkeeping and Get on with Your Business

How Technology is Creating Better Connections for the Small Business Owners by John Nakowicz The process for most small business owners has for a long time been: fumble through small business accounting software to come up with some sort of records or, at minimum, keep a check register. They never have a true view of where their company is at any given moment and they rely on themselves to recall pieces of the company’s financial picture to make decisions. Then at year-end, they walk into their accountant’s office with their income and expenses, hoping they do not owe more than they have in their accounts. This is all a thing of the past!

start to learn your habits of expense coding by replicating the coding history. This feature is far superior to the auto coding you may have seen in other types of software, where transactions get renamed and classified based on a rule which is generated by the software, not you. As the business owner, you get to verify all the transactions and change anything that is incorrect. Would you agree that the job of just verifying data is much easier than actually creating the data? So let technology work for you. Your computer can do all the work while you get on with growing your company.

We’re talking about connection. These advancements are all about connecting you back to your company. Giving you the power to make informed decisions, with no more guessing. You can even connect to your accountant, you know, more than once a year. Giving your accountant access to your cloud books allows them to look over your financials and act as your business advisor versus your bookkeeper. And now when tax season comes, you are closer to the outcome and know what to expect. NOW that sounds simpler! John Nakowicz, CPA President Nakowicz Financial Services, Inc.

Cutting edge cloud accounting applications can now save you time on the monotonous job of inputting checks and deposits into bookkeeping software. There are even ways to create invoices, email clients and get paid faster via merchant services right through the applications. The way these applications work is they connect directly to all your accounts (yes, even credit cards) via a direct feed. Your business activity is updated from all accounts on a daily basis, assembling your books every night while you sleep. So NOW, this goes without saying, at any given moment, your books will show you exactly where your company stands. Going to your books to find out what is in your accounts is something most small business owners do not even consider. These applications draw power from the banks. They have invested many dollars into identifying what type of expense a particular transaction is. When the banks incorrectly code something or cannot properly identify a transaction, the applications take over and

Cutting edge cloud accounting applications can now save you time on the monotonous job of inputting checks and deposits into bookkeeping software www.risbj.com | volume three issue one

47

Profile for Rhode Island Small Business Journal

Volume 3, Issue 1 of RISBJ  

Volume 3, Issue 1 of the Rhode Island Small Business Journal

Volume 3, Issue 1 of RISBJ  

Volume 3, Issue 1 of the Rhode Island Small Business Journal

Advertisement