The Brave new world of Bookkeeping!
From traditional bookkeepers to business advisors
Traditional bookkeeping was a matter of recording lots of data and then reconciling it, to make sure it was accurate. With more artificial intelligence (AI) appearing in our accounting software, the traditional role of the bookkeeper is being replaced by automation.
At 2 Peas, we embrace the changes to the industry. We see our role changing from being traditional bookkeepers to being advisors to businesses. Our role is now increasingly recommending best-of-breed add-on software or apps that will mostly benefit our clients and streamline their particular workflows and reducing as many pain points as we can.
Some examples of changes that our clients have undergone by adopting our recommendations:
- For most of our clients, it has been a matter of showing them the key features of the accounting software that they currently use. In many cases, this has involved setting up bank feeds, setting up rules so that the repetitive transactions automatically record, showing them how to get their software to “read” the supplier bills and enter part/all of the bill automatically, or even linking the supplier to automatically drive the bills into your accounting software. Showing them how to attach documents to transactions and contacts, showing them how to automate the payments process to improve cashflow. Showing clients how to report Single Touch Payroll, how to report superannuation – all via their accounting software stack.
- Introduction of systems that allow on-boarding of new staff, easy creation of rosters, notification of shifts to staff, costing of rosters, leave applications, time sheet recording (and can be done via face or fingerprint), award interpretation and then integration to accounting software for payroll purposes.
- Software that scans in bills and then allows for notifications and complex approvals by managers before being uploaded into the accounting system.
- Software that allows for manufacturing, with bills of materials, usage of raw materials and labour, scheduling of staff, stock receipts, stock takes and stock issues recorded via mobile devices and integrates with accounting systems.
- Programs that allow budgets to be set up for jobs or for the business as a whole, allow cash flow forecasts to be created and reported on, and enables reports to be automatically emailed through to specific people at specific periods. The budgets are compared to the actual data that is entered in accounting systems.
- A system that allows invoices to be automatically brought into the accounting system from another accounting system regardless of what standard accounting system is being used – nullifying the need to manually enter the bills. And the same applies when invoices are sent out to clients.
- Another app that allows bills and receipts to be scanned and stored on the cloud, and then brought into the accounting system with little manual intervention. No more paperwork to be kept for 7 years and then shredded
- Another app that allows businesses to record sales on the road and take customer payments
- Integrations between websites and accounting systems, eliminating manual entry of orders and payments.
- This is just a few of the apps we have introduced to our clients but there are many many more!!
There are so many apps/add-ons available in the market place that integrate with your accounting program to help business run efficiently and to reduce administration costs. However, it is an overwhelming task selecting the most appropriate one. It requires lots of time exploring to ensure the best of the breed is selected. Maybe it is time to embrace the Brave New World in your business and explore the possibilities of what can be done to streamline your systems.
See what 2 of our clients ‘GH Cabinets’ and Spencer Wine and Co had to day about the role a bookkeeper made to their business: