Web Based Accounting And Online Banking Go Together Perfectly ...
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There?s a small, poorly kept secret that has helped countless small businesses enjoy increased benefits from online bookkeeping and web-based accounting and it?s not going to surprise you at all: online banking. New small businesses are much more likely to utilize the online banking features and tools their banks offer them, but people who have been doing their personal and business banking one paper for years often find making the jump to digital to be far more trouble than it?s worth. If you own a small business, you owe it to yourself and your business to disabuse yourself of this notion. Online banking is pure value.
A number of common misconceptions need to be answered. It?s not less secure, it?s more secure. Even the FDIC says that with basic password effectiveness and protection and decent computer security and virus-protection software you?ll be able to minimize threats and control your risk exposure. These steps are enough to get you nearly as secure as Fortune 500 companies. At that point, information thieves have bigger and more vulnerable targets. And accounting to Consumer Reports, the paper trail of your transactions is often less secure than encrypted information. Those shredded printouts are awfully easy to reassemble and use for fraudulent activities.
Second, it doesn?t take more time, it saves you time. Some people worry that the act of setting up online banking and learning the system will require time they just don?t have. It?s true that you will have to invest a bit of time into getting on top of that learning curve. But it?s the same as any investment. Patience will yield dividends in the form of a lot more free time. Fewer trips to the bank, quicker access to all your bank statements with up-to-the-minute information, immediate transfers, and automated bill paying all reduce your bookkeeping load. A trip to the bank takes about 30 minutes. When you complete the same transactions faster and more easily from your workplace computer in 10, it?s hard to see what time loss people could be worried about.
So beyond saving time and increased security, what else makes the initial conversion headache worth it? One of the biggest ways small business owners waste time and increase errors is with manual bookkeeping. Web-based accounting tools allow you to automate part of the process, and with online banking, you can securely link and synchronize your accounting tool with your bank accounts to facilitate this automation, saving time and reducing errors. This even compiles your accounting data so it?s easier to transmit to your accountant for tax purposes, which makes everyone happy. Lastly, constant access to account information, and the automation of bookkeeping mentioned above ? which gives you constant access to updated financial tools as a result ? makes it easier for you to find the information you need to make business decisions effectively.
Web-based accounting is incredibly powerful, and online banking is one of the secrets to unlocking that power and helping your business become more efficient. But you can?t do that until you get comfortable with the idea of moving from paper to digital banking. Try it, and you?ll be happy with the results.
Unlock the power of efficiency with online banking and web-based accounting.
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