Over my last 15 years working in the accounting department of a number of small to medium size businesses from 4 - 75 employees, and $1M - $4M annual revenues, I found 1 thing in common and that was:
"the role of a full cycle accountant did not require a FULL-TIME salaried employee".
Most business owners either underestimate, but often overestimate the time it takes an hourly / salary staff to perform its full cycle accounting functions of their business.
As a mom of 2 and a CPA, time has become extremely valuable.
As technology evolves, our tools and opportunities grow, making our job functions more streamlined, accurate and efficient. Gone are the days of "data entry" and accounting can now be automated with the right tools and personnel to keep a business’s financials in order. Services can now be expanded to budgeting, variance analysis, cash flow management and much more to provide business owners with the information that is relevant to them in making their business grow in the right direction.
Ways to StreamLine Your Accounting Department
- Automate Transaction Downloads with Quickbooks Online or Xero
- Automate monthly membership charges using Mindbody Online
- Streamline accounts payable process with EFT Direct Payments
- Process Payroll Online through Ceridian, Payworks, ADP and similar service providers
- Send Invoices via Email and Accept Credit Card payments online
- Deposit checks with a Banking App
I would love to help you with setting up any of the above, and/or discuss opportunities to streamline your accounting department. Seeing businesses thrive and bloom is what I love and am passionate about.
Here at Bloom Accounting, I strive for continuous improvement and if you have other suggestions, I'd love to hear from you.
Feel free to contact me at info@bloomaccounting.ca or leave a comment below.
Cheers,
Josephreen Luk, CPA, CGA, CFP
Bloom Accounting
www.bloomaccounting.ca
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