15 Reasons Your Startups Should Switch to Online Bookkeeping

Almost everyone knows the meaning of the word “startup”. The definition of this term is summarized in a simple equation: “startup = growth”, referring to technology companies that have developed the product in an extremely short time and successfully placed it on the market, such as Google, Facebook, and the like.

Still, most entrepreneurs and those just starting in entrepreneurial love will say that a startup is simple – a start-up. Most of today’s world-famous and successful startups come from America. Europe is slowly but surely catching up and given the current situation on the entrepreneurial scene, it is to be expected that shortly some of the most successful start-ups will come from the Old Continent. The question rightly arises – what is it that has contributed to the explosion of startups in recent years? Is it about brilliant ideas, the business community, resourceful entrepreneurs, wealthy investors, a motivating environment, sheer luck, or something else entirely? Can a successful business venture be defined with two or three specific determinants at all, or is it a mixture of all of the above?

What is certain is that starting a successful business does not come in the form of instructions for use and that there is no sure path that start-up entrepreneurs need to tread to achieve business and financial success in the short term. On the other hand, 90 percent of startups disappear after the first two years of their existence, which leads to the conclusion that the amount of mistakes that occur when starting a business is proportional to the number of entrepreneurs who make them.

Hiring a personal accountant is often too expensive when you are starting a new business, but some respectable companies with 50 or more employees do not opt for this option, for various reasons. Further increase in efficiency and reduction of costs was made possible by internet technologies and adequate bookkeeping programs, so now companies can have online bookkeeping – with the received service as if they have an internal expert in finance and bookkeeping but at significantly lower costs.

Online or classic bookkeeping?

eBusiness is increasingly becoming part of the business in all sectors. The reasons are simple: quick and easy access to data, savings, and speeding up business processes, getting rid of a pile of paper, and unnecessary going to banks.

A large number of documents and business processes need to be processed every day, and thanks to the Internet and online software solutions, there are no more delays in Accounting by the Books, frequent errors, or going to bookkeeping services where you have to submit documents in person.

All of this changes with the transition to Online Bookkeeping.

The advantage of online bookkeeping programs

If you use the same program as your accountant, you will not need to submit outgoing invoices to the bookkeeping service, because they are already in the bookkeeping program. Incoming documents are sent via e-mail to the bookkeeping service and there is no need for personal delivery of documents to the location of the service, and the company archives the originals with itself. The submitted documents are “uploaded” by the bookkeeper into the bookkeeping program, and the user can view them at any time and check whether they have been processed and posted, without the need to browse the registers.

Insight into the bookkeeping program

The goal of such programs is for the user to have an insight into the bookkeeping program and their financial operations from the comfort of their office and not have to specifically request information and paper reports from the bookkeeper.

Monthly fee payment

The advantage of such bookkeeping programs is also that you can contract a monthly payment of usage fee, without the need for large initial software costs and it is certainly a cheaper option.

A few more reasons to choose an online bookkeeping

  • Availability 0-24 hours a day, 7 days a week
  • The bookkeeping service does not have to be near you, but anywhere in the Republic of Croatia
  • All data is stored in the cloud (no worries about data loss and permanent archiving)
  • We save our planet with paper savings and less printing!
  • Easy issuance of outgoing invoices, offers, pro forma invoices, etc. directly from the program (forget about word and excel)
  • Daily processing of bank statements and insight into the balance and turnover of accounts (agree with the bank to deliver statements directly to the program)
  • Digital payment orders (directly from the program we prepare orders for payment of incoming invoices, salaries, and other obligations – SEPA orders)
  • Digital exchange of documentation (all you have to do is take pictures of the received invoices on your mobile phone or scan them, and submit them to the program for processing, and archive the original document)
  • Each incoming invoice is accompanied by a picture of the original document, so there is no need to search the paper archive
  • At your request, we make compensations, send reminders, open items, invoices, etc.
  • Keeping records of working hours directly in the program
  • Delivery of payrolls to employees by e-mail (password protected)
  • Graphic presentation of income and expenses, and business result by months

Final thoughts

Bookkeeping that will alert the responsible person to the disputed elements upon receipt of the documentation is very difficult to find. Mostly because the owners often do not want to hear what they are doing wrong, so such situations are easiest to avoid – by silence. So, accountants generally know what you’re doing wrong, but they’re not talking to you about it, they’re talking to each other. Another reason is that leading people in bookkeeping services are educated, but new firms get beginners in bookkeeping who don’t have equal access to education or literature, who actually learn from them, and bosses don’t control what they do.

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