Save Hours Each Week with Online-Accountant's Automated Bookkeeping Services
Peter Johnson, BAccS, CPA, CGA
Faber LLP, Chartered Professional Accountants
A 2023 survey by Intuit found that businesses using automated bookkeeping systems save an average of 8 hours per week, equivalent to over 400 hours annually.?
Imagine a Scenario:??
It's 9 p.m. on a Thursday night. The office lights are dim, the streets are silent, and you're staring at a mountain of receipts. You promised yourself this month would be different. But here you are again. Another late night spent reconciling accounts instead of planning your next big business move.?
Now, imagine a different scenario. This is the same Thursday night, but you're at home and you're relaxing with family. Your books are already up to date, your reports are ready, and you didn't lift a finger. This isn't a fantasy; it's the reality of automated bookkeeping with Online Accountant.?
The Hidden Cost of Manual Bookkeeping?
Manual bookkeeping eats up time like nothing else. A Score study revealed that 40% of small business owners spend more than 80 hours a year managing finances. That's two full work weeks lost annually- Time that could be spent growing your business or simply enjoying life.?
As Profit First explains, "Time is the most valuable resource an entrepreneur has. Wasting it on tasks that can be automated is not just inefficient; it's detrimental to growth."?
How Automated Bookkeeping Saves Time?
Online Accountant's automated bookkeeping services use cutting-edge technology to handle tiresome tasks. We manage your books efficiently so that you can focus on what truly matters. Here is how:?
Automated systems fetch data from your bank accounts and credit cards in real-time. It eliminates the need for manual data entry, saving you a lot of time.?
You no longer need to categorize your?income and expenses. Rather, our system automatically does it and makes it easy for you to track where your money is going.?
The state-of-the-art automated systems reduce the possibility of errors. Needless to say, if there are errors which are quite common in manual bookkeeping, it takes a lot of time to track them down and correct them.?
The system automatically generates reports which present to you a comprehensive financial picture so that you can be certain about where you are headed and make strategic decisions more accurately.?
The time that you save transforms into financial benefits.?
Having time does not simply mean fewer late nights; rather, it transforms directly into financial games.?
You immediately have time at your expense to spend on revenue-generating activities.?
Take some examples?
A restaurant owner could spend some extra time refining the menu or improving customer experience.?
Retail businesses can utilize the time to prepare for an upcoming high sales season.??
A consultant could find some time to focus on building up a new network base and expanding his business.?
"The true cost of manual bookkeeping isn't in dollars-it's in missed opportunities."?
-Accounting for Small Business Owners?
Simplify tax season to save time and anxiety?
For many business owners, tax season is a source of anxiety. Scrambling to find missing receipts or calculate deductions at the last-minute leads to stress and sometimes, penalties.?
With automated bookkeeping, your financial data is always organized and up to date. Every transaction is recorded, categorized, and ready for review. By the time tax season rolls around, all you need to do is hand over the files.?
领英推荐
According to the CRA, late tax filings result in penalties of 5% of the balance owed, plus 1% for each additional month of delay.?
Our automated bookkeeping ensures that you do not have to spend weeks and weeks preparing your records?
Case Study: A Small Business Success Story?
Take the example of Lisa who runs a boutique marketing agency in Montreal. Before switching to Online Accountant she had to spend around 12 hours each month tracking her expenses.??
She also had to spend time managing invoices and preparing reports.?
The process was overwhelming, and mistakes were common, which would cause additional time.?
After signing up with Online Accountant, she was able to:?
Lisa says, “I did not realize how much time I was wasting until I got it back.”?
Why businesses love our automated bookkeeping solutions?
Ease of use:?We require you to do the minimum. We collect the documents and records on our own.?
Authentication of transactions: We attach receipts to your records, which makes your transactions audit-proof, saving you additional time.?
Cost Effective???
We are pioneers in making effective automated bookkeeping accessible to all businesses, with packages starting at $29 a month.?
Data security?
Advanced protection and regular backups ensure that your financial data and information are safe. We prevent any unwanted problems before they arise.???
Our Automated Solutions vs. Manual Bookkeeping: A Quick Comparison?
Take Back Control of Your Time?
In today's fast-paced business environment, time isn't just money—it's everything.??
Imagine what you could achieve with an extra 8 hours each week. You could brainstorm new ideas, network with industry leaders, or simply enjoy more downtime.?
As The E-Myth Revisited aptly states, "Working on your business, not just in your business, is the key to sustainable growth."??
Automated bookkeeping frees you from mundane tasks, allowing you to focus on the bigger picture.?
Closing Lines??
Manual bookkeeping is now a story of the past. With Online Accountant's automated services, you can save many working hours each week.?
You can also reduce errors, which will save you additional time and money in future.??
Similarly, you will be able to get automated insights into your finances. Whether you are a small business or a growing entrepreneur, the benefits of automation are clear. The time to make the switch is now.?