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How does running a business without filing and data entry sound? (Umm, blooming amazing!)
December 18, 2018 / By Terri Boote
Keeping regular, accurate financial records is one of the most time-consuming aspects of running a business. Of course, it is also imperative to get this financial management right, or you will find yourself in a number of stressful situations.
In this digital age, it is easy to forget that it really wasn’t that long ago, that everything was done on paper! There were filing cabinets bursting at the seams with invoices, bills and other financial documents. Even massive amounts of archived documents in storage! Thank goodness for both the trees and for us, that this is a thing of the past.
Yes, thankfully, we’ve moved on; we’ve innovated, and now, most records are stored on hard drives or in a virtual ‘cloud’. Phew! Although this makes organising things a whole lot easier, it still requires work… Enter the tech-savvy geniuses! These talented developers decided that we could go one step better and have created numerous programmes and apps that take the streamlining and automation of your financial processes to a whole new level! Thus, freeing up your time to focus on other essential business tasks (or go paddle boarding an hour earlier than you anticipated).
Two of the go-to apps that we use in partnership with our clients are ‘Go Cardless’ and ‘Hubdoc’. These smart, simple programmes take the hassle out of collecting payments and organising your finances.
Let’s take a closer look at how these two incredible apps can help you streamline financial processes, save you time, and benefit your business.
This clever app takes the pain out of collecting payments and chasing up clients. It allows you to receive direct debit payments either automatically or on set dates for recurring or differing amounts.
It is incredibly easy to use – both for you and your clients. All you have to do is send them an invitation to sign up. They then fill out a basic online form authorising you to collect payments from them. (This step is something that only needs to be done once, and then the set-up is complete).
For your client’s peace of mind, they are notified before payment is scheduled, and they can opt to authorise individual payments if they want to.
On your end, simply input the dates you want to collect the funds, select the amount/s, and the funds are collected automatically. The app even connects with accounting software like Xero, and you can manage everything from the app’s easy to use dashboard.
If you’re a client of ours please sign up to Go Cardless HERE so you can avoid the hassle of making the monthly payments!
Why it’s great: Think of the time and energy you will save by streamlining all of your recurring payments. No more fiddling about with invoices and waiting days or even weeks for the funds to come through from the client! Just simple, on-time payments for the right amount, delivered straight to your account.
How does running a business without filing and data entry sound? (Umm, blooming amazing!) Marketed as the essential ‘digital virtual assistant’, Hubdoc will manage, organise and store all your financial documents so you can be free of papercuts forever!
This intuitive app automatically imports invoices, statements, bills and receipts and then exports them into usable data.
You can set the app to access and sort online documents, use it to take a photo of hard copies, or directly forward them from an email, straight to Hubdoc.
Not only will this save you a whole lot of busy-work and free you up to do other things (like growing your business or a killer veggie garden), but you can also forecast for the future. Gain access to past bills (for a year or more) and then use that information to choose your areas of focus. See what worked and what didn’t to manage your finances optimally.
Hubdoc is designed to sync with your online accounting software like Xero. All the information is stored securely, backed up and available to you, your accountant and bookkeeper / virtual assistant, anytime, anywhere.
Why it’s great: This app is a serious time saver! No more scanning and uploading documents, hunting through boxes for a specific piece of paper or trying to compile spreadsheets of data. Hubdoc does it all for you, streamlining your systems and your business as a whole. In fact, we love it so much here at Virtual Assistants that we are a Hubdoc partner!
To Wrap Up!
These two apps can save you hours of fiddly and, let’s face it, potentially boring work. No more chasing up clients, sending and recording invoices, and no more logging into various sites to gather and manage your bills. Using Go Cardless and Hubdoc will give you and your team precious hours in your week to focus on other things.
If you would like to know more about how these apps could work in your business, then please get in touch with us here at Virtual Assistants. If you love the sound of using them and want to give them a go, we are happy to set the apps up for you to try!