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  • Writer's pictureBrian R. Schobel, CPA

Digital Accounting. What is digital accounting?

Digital accounting is what we do! It is the creation, representation, and transfer of financial information in electronic format. Paper is eliminated by storing picture files in a document management system up in the cloud. QuickBooks Online is used to fetch your financial data from your bank and credit card accounts.

If you are serious about growing your business, you are going to have to get serious about the numbers. If you are still storing paper, you are spending at the very least double the time with your accounting process.

Digital accounting can grow with your business. It is accurate and scalable. In the beginning you may have time to do your own bookkeeping. You want to start with QuickBooks Online. You should also hire a CPA and financial coach. For a small monthly fee, a CPA can help save you thousands using various tax strategies.

Remote access to your digital accounting system from anywhere in the world. You and your accounting professional can look at your monthly profit and loss statement via conference call. You will have real-time data to make informed decisions for efficient cash flow among other financial tasks. Convenient with increased productivity while maintaining financial integrity. Enhanced reporting capabilities providing insight to aid owners in making sound business decisions.

Cloud Systems are more secure than a paper system. Paper does not hold up well when wet, hard to store, susceptible to fire. The list goes on. Cloud systems are backed up by large data centers, relying on SSL technology and data encryption lessening your risk of losing your financial data.

Having your financial data stored in an accounting system will aid in facilitating your tax filing preparation. Most of the information needed by your tax preparer will be contained within this system. Bottom line is that it will reduce costs necessary to complete your taxes.

Automation is key as it eliminates the need for hiring lower-level accounting professionals to get the job done. If you are looking to grow your business, you must replace your manual accounting processes with digital accounting.

Call us today to get started!


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