Receipt Bank QuickBooks Online Integration For Accountants

Receipt Bank QuickBooks Online Integration For Accountants

Fresh out of college, I started my career as an accounts payable clerk with a multi-national pharmaceutical company. Starving for more experience, I transitioned to a financial analyst position for a Canadian manufacturing company. This experience expanded my knowledge of managing multi-million dollar inventory and fixed asset accounts. Each month, I was responsible for various asset reconciliations, as well as consolidating financial statements for reporting to head offices in the United States and South Korea. My role was to interact with year-end auditors to ensure the accuracy of fixed assets, inventory and bank accounts, as represented on the general ledger.

Upon the arrival of my first born in 2008, I decided to open Moore Details Bookkeeping. This enabled me to work from home and still spend quality time with my family. Today, my business, as well as my family, has grown, thanks to my fabulous clientele and constant referrals. My practice specializes in virtual bookkeeping. Yes, that’s right! I won’t visit or bother you at your place of business. Everything is in the cloud.

What My Business Was Like Before QuickBooks Online and Receipt Bank

Before any cloud solutions like QuickBooks® Online or Receipt Bank, it was just so difficult to get to the source documents of my clients. I had to plan my day around going to pick up boxes and file folders of receipts from clients – which was a huge pain! This created a huge disaster if my car got stuck or was out of service because it would completely shut down my business, as well as mess up my clients’ schedule. And, before cloud solutions, you also had to deal with visiting people’s homes and personal spaces, and handled receipts that had been bundled up in cars, back pockets, and even dripped with coffee or food. Once you have collected the piles of data, it would sometimes take me almost two months just to process the data, which did not allow me to provide valuable insight into their business.

The Future of My Business With Receipt Bank and QuickBooks Online

With QuickBooks Online and Receipt Bank, I have so much more time to tend to my clients on what they are really seeking me for. I am no longer doing the mundane data entry and I don’t even have to touch any paper! Receipt Bank allows me to get the uploaded receipts from my clients within Nanoseconds. This process allows me to provide real-time monitoring of their cash flows and fosters real-time communications on how they are spending their money. I can ask the questions I need to ask of the client in real-time versus weeks after they spend it.

What I really love about the marriage between QuickBooks Online and Receipt Bank is the quickness between the two. All of the data within Receipt Bank is integrated and processed within QuickBooks Online within an instant. I know right away how much money clients are spending and I am able to process the information very quickly. QuickBooks Online and Receipt Bank allows me to give my clients what they really want: cash flow. Now, I am able to provide insight on cash flow to my clients within a day.

If I could give you any advice, it would be to make the leap to cloud accounting and just try it! It is a game changer once you switch your practice over.