We’re living in an increasingly paperless world. Many business processes that had traditionally been performed with pen and paper are now performed entirely digitally, and this includes basic bookkeeping and accounting functions.
There are a lot of reasons to go paperless with your bookkeeping. It opens up a lot of storage space, as you don’t have to worry about filing nearly as many paper documents. It reduces clutter, cuts down on the amount of waste generated, and reduces your business’s carbon footprint. It also increases productivity, given the opportunities and possibilities opened up by digital technology.
Here are a few tips to help you bring your bookkeeping processes digital:
•Work your way there: Set a “paperless” date on your calendar, and make it a company-wide goal to reach that point for your bookkeeping (and other processes, if you wish) by that date. Setting a concrete goal like this will make it more attainable and give everyone something to shoot for.
•Familiarize yourself with cloud software: Make use of online storage for documents (Google Docs, Box, Dropbox, etc.), as well as cloud-based bookkeeping software to log all your financial information. The benefit of this type of software is that it can be accessed from anywhere with an internet connection.
•Scan necessary files: If there are paper documents you absolutely must keep in your archive, you can scan them and add them to your digital storage location of choice. However, feel free to be discriminating with which files you keep. You do not necessarily need to keep files going back years and years, and you certainly shouldn’t feel like you need to scan them all. Focus on digitizing what is most important.
•Add metadata: When scanning documents, make sure you add metadata or keywords so it is easy to search the archive for any file you need, including those that were not originally digital files.
•Find downtime to accomplish this: Digitizing older files can take some time and result in a bit of a productivity dip in other aspects of your work, so it’s a good idea for you to get this done during a time of year when you’re not typically busy.
•Focus on training: Once you’re set up with new software or cloud systems, it is important for you to get everyone in your company trained who will be using that system or software. That way it won’t fall on a single person to handle all necessary bookkeeping-related tasks, which could quickly become overwhelming for them.
These are just a few strategies you can employ to digitize your bookkeeping. For more tips, contact us today at MCG Solutions.3 / 3125%