As we wrote previously, bookkeeping is vital to each and every business. As a business owner this means investing in a trained bookkeeper, to ensure your decision making is based on up to date and accurate figures. For somebody interested in the area there has never been a better time to take the opportunity to get started or to up-skill. Over the last 5 years, there has been an evolution in bookkeeping called computerized accounts, especially with the move to online cloud accounting platforms such as QuickBooks Online.
First thought of as, ‘the beginning of the end for bookkeepers’, the opposite has occurred. The advances in online cloud accounting platforms like QuickBooks Online are accelerating and elevating bookkeepers and accountants alike within businesses.
QuickBooks Online has many advantages for the bookkeeper and the business owner. Now through the use of technology, routine tasks can be simplified and streamlined. Business owners now have access to real time financial information on the performance on their business, their products, their customers, and their resources. At the center of this evolution is the certified bookkeeper.
Today the bookkeeper takes a central role in designing and implementing the processes and controls to adapt the business to this new way of recording and managing the business transactions. It is the bookkeeper who the business relies on more to provide key financial information in an ever more demanding fast paced environment. It is the bookkeeper who now automates the flow of this information and communicates this into easy to understand readable reports and charts. The bookkeeper is now more than ever an essential part of every business that now extends far beyond compliance and now more focused on growth.
QuickBooks is the market leader in computerized accounts and the partner Learnful have selected to deliver its Professional Diploma in Computerized Accounts & Payroll. Quickbooks brings many advantages and some of these are outlined here:
- Intuitive and easy to use
QuickBooks Online was designed with the business owner in mind. Not loaded with accounting speak and technical accounting terms, making itself accessible to all types of users. Allowing for both business owners and bookkeepers to implement streamlined processes and allow users to see vital KPI’s in easy to understand dashboards.
- Automated posting of transactions
From live bank feeds, bank rules for automated postings, to recurring transactions, QuickBooks Online does a lot of the heavy lifting that was previously done manually or on excel. QuickBooks Online will ‘learn’ your postings and even suggest posting rules for when posting similar transactions. This will save you hours each week, allowing you to focus on other value-added activities.
- Customisable and Scheduled Reporting
QuickBooks Online has a large suite of standard reports suited for all businesses, broken down in simple to understand categories. You can also customise your reports in the way and style that you would like to view them. You can drill down within each report to see the detail down to the invoice level. If you produce the same type of report on a regular basis you can schedule your reports to automatically generate and email that report out to the intended recipients.
- Online, secure and affordable
Cloud accounting with QuickBooks Online provides you with the flexibility to work remotely, only requiring an internet connection. All data is securely encrypted with best in class uptime. Businesses don’t need to invest in expensive desktop licenses and server equipment, rather businesses can invest in training and upskilling to take advantage of new technology enabled capabilities.
On observation, Ireland is about 3 to 5 years behind the UK and the US is terms of digital accounting adoption of online platforms such as QuickBooks. Small and medium business are more likely to succeed and thrive due to the use of these cloud accounting platforms, supported by trained qualified bookkeepers. Becoming a certified bookkeeper in computerized accounts will position you to take advantage of new in demand opportunities from accounting firms and business owners as they increasingly adopt online accounting software.