Should You Do Your Bookkeeping and Accounting in the Cloud?
“Business owners can get stuck in certain workflows because that’s what they’ve been doing for years. If you run a home service business, you don’t want to be filling out paperwork, you want to be in the field getting work done!”
Technology can help eliminate work that doesn’t add value to your business, and for a long time, desktop software was the way to go. But with the advent of cloud technology, more and more small businesses are turning to cloud-based apps like Jobber and QuickBooks Online to help run their businesses.
Moore Details, which was the named by Intuit as Canada’s 2016 Firm of the Future, works with their clients to select and manage cloud-based accounting services and apps that automate operational tasks. “With traditional workflows, you’re managing a lot of paper,” says Jennie. “We give our clients cloud-based tools so they don’t have to manage paperwork.”
Why Jennie recommends the cloud
Jennie’s accounting platform of choice, QuickBooks Online, is based in the cloud. One of the primary reasons Jennie recommends cloud technology is it provides a more centralized location for all your data: clients, invoices, payments, taxes, financial reporting and so forth. Simply put, the cloud is a better way to establish a collaborative way to work with your staff, vendors, and clients.
But the benefits don’t stop there. We chatted with Jennie about 3 additional key benefits home service businesses get when leveraging cloud technology:
1. Mobile accessibility
“Everything about field services screams mobile,” says Moore. “Whichever platform you use, QuickBooks Online or something else, just make sure it’s as mobile and reliable as you are.”
“You can maybe forget a wrench, or a gauge, when you leave the house in the morning and still get through your day all right,” she says. “But if one of my clients forgets their phone, they’ll turn their truck around and go right back to the house to get it.”
Make sure that the system you choose is as mobile as you are.
Cloud technology allows you to access data in real time from any device with an internet connection. This means your team in the field, management, and administrative staff can all have instant access to the information they need with built-in tools for managing both data and communications.
Cloud-based systems leverage modern technology so they can connect to other cloud-based apps. This means you can start with a base, but then customize your system for what you need.
Scheduling, invoicing, payments, communications, CRM—it’s all built into Jobber (that’s why it’s a ProAdvisor top Pick on QBO). But if you want to get more out of Jobber, you can always add more apps that are integrated with Jobber and/or QuickBooks Online. “Figure out what’s causing you the biggest operational headache and solve it with an app,” says Moore. “Apps fill the gaps.”
Fundbox, for example, which integrates with both Jobber and QuickBooks Online, offers US business owners a simple way to fix their cash flow by advancing payments for their outstanding invoices.
For small and medium sized businesses, getting your data into the cloud is the best way to secure it and ensure privacy.
By contrast, installed software and paper-based systems are highly vulnerable to security threats. “We had a client who was a log home builder who used a desktop system,” says Moore. “They had a fire in their main office that melted their computer hard drives and burnt-up all the paper backup. They lost everything.”
The advantage of the cloud is that all your financial data is stored on remote servers with multiple backups, each protected by high-end internet security protocols. So, if there is an incident, you are safe in the knowledge that your private financial data (and that of your vendors and clients) can always be recovered, quickly.
Setting yourself up for success
The cloud gives you the tools to improve efficiencies. If you’re looking to grow your business, save time, or improve communication with your team, the cloud is the way to go.
When selecting a new platform, there are a few things you can do to make sure you’re set up for success. We’ve compiled recommendations from our own experiences about onboarding your team on to new technology. It’s also important that any cloud-based solution you choose offers free training and support to make sure you’re set up for success.
Jennie also recommends you speak with a professional who specializes in cloud technology. There are a lot of great people on the QBO ProAdvisor website—just send someone a note telling them what you’d like to do and you’ll hear back from them in no time. “See who picks up on your concerns and can serve you well,” Moore advises. “Local talent is great, but the beauty of the cloud is that you can be open be to people farther away. It’s a great way to offload all the nonvalue-add work involved with accounting and get back to building your business.”
Special thanks to Jennie Moore for her insight and expertise. By outsourcing financial tools selection and essential tasks to Moore Details Bookkeeping, businesses find comfort in knowing their remittances, important reconciliations and the overall health of their bookkeeping structure is confidentially maintained.