Covid-19 has changed many things for your organization. One aspect that it has likely changed is how your bookkeeping is done, and at times who does it. If you’re not familiar with remote bookkeeping, this article seeks to give you an idea of whether it can be a solution for you or not.
Some common scenarios where change is inevitable (and some common solutions):
- Your bookkeeper Tina used to come to your office every Thursday to do things like: Write cheques and record bills, prepare payroll every two weeks, record customer payments, reconcile your books. Now that she can’t come to the office, here are ways to keep the wheels turning:
- Your sales person Mark used to meet weekly with Tina. During the weekly meetings, Mark would give Tina all his expenses for reimbursement as well as generate invoices for the sales made during the week.
- Revenue has decreased significantly, and you are looking to reduce your bookkeeping costs or outsource it.
- Switch to an online bookkeeping app so Tina can update your books from home
- Set up electronic payment system where Tina can pay suppliers and staff electronically and securely, with the appropriate approval from you
- Get your staff on an electronic time sheet system if needed, so you can review their data from where you are, for to Tina process the payroll from home
- Utilize a smartphone receipt app where Mark can simply snap photos of his receipts, and they will be uploaded to the bookkeeping software for Deb to review and process
- Set up an online estimating process to make it easy for invoicing to be done weekly over the phone
- Automate as much as possible in your accounting process – plenty of apps to help you reduce manpower needed to run your accounting “department”
- When automation is still not possible, utilize technology to connect with talents abroad so you can save on the cost of doing some repetitive tasks
If Tina can’t do this, talk to us and we will either set up and train her to do this, or we will work with you so we can take over from Tina.
What to expect when having your books done remotely?
- Change: You and your team may have to change how you do things, likely by utilizing technology. With the right planning, the change and transition can be made to work as smoothly as possible for you and your team.
- Cost savings: In the long run, expect cost savings when you plan well because you will automate more and become more effective.
About Reconcile: We ensure that your financial position is reconciled, the government accounts are in order, and most importantly: You know where your money is, and with our help, we can assist you in deciding how to move forward! Schedule a call with us to learn more.
Or do you simply want to know how well your accounting records are kept and how compliant you are with CRA? We offer a high level “financial health check” at no cost to you. Schedule a call with us to get started!