Time to go Paperless? Here Are Some Pro Tips

If you pay your bills online or have online banking, you are probably used to seeing the words "Go Paperless" pop up. Did you know that you can also "go paperless" when it comes to your business bookkeeping and financial reporting? Here are just a few ways we're taking our small business accounting practice paperless:

Bookkeeping

We use QuickBooks Online, which is a cloud based bookkeeping software program. We know that sounds scary, but it is one of the best bookkeeping software programs available. It's cloud based, so you and your accountant can access your books from a web browser or phone app from anywhere with an internet connection. When you login, QuickBooks allows you to view reports, track your spending, pay bills, and upload receipts (say goodbye to envelopes of receipts) from any device.

Tax Documents

When your small business uses payroll software or software like QuickBooks Online, your tax documents that are prepared for your contractors and employees (W-2, 1099-NEC, etc) are also available digitally. That means you don't need to stuff envelopes or hand deliver them to your employees or contractors, saving you time and money on postage.

Payroll

Our firm exclusively uses ADP Payroll software because we know it's the best in the business. When you run payroll with ADP, you have the option to send your employees and contractors their paystubs and tax forms digitally. ADP will even provide an online portal to each employee to keep track of their paystubs, track their time off, use a timeclock for hours, submit their work hours, etc.

Paying The Bills

Almost every bank now has an option for online banking, and we use that feature to help our clients pay their bills with online bill pay. When you pay bills through your bank's bill pay option, the bank will cut and send a check to the recipient, eliminating your need to go to the post office or to send physical checks.

If you're interested in seeing how your business can take your accounting and tax obligations paperless, be sure to contact our office.