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The way that the internet has impacted on all types of business means that many day to day tasks and operations are now quite easily undertaken online.

 

For many simple business tasks such as invoicing, email has replaced physical post deliveries almost entirely as the immediacy not only cuts out potential delays but also any associated high volume postal costs are also negated.

 

Of course, invoicing is only one aspect of the finances of running a business that can be simplified and streamlined by using online services. Today’s ‘cloud’ approach means that the whole concept of commercial financial management has undergone nothing short of a revolution.

 

Efficiency

 

The traditional image of ‘shoe box finance’, where a mixture of paperwork including invoices, receipts and bank statements ends up in a disorganised collection which eventually gets handed over to an accountant is now almost a thing of the past.

 

Using an online service for cashbook and day to day book keeping is a streamlined way to make sure everything is looked after as you go along. The easy, user friendly functionality which the process offers is ideal for small businesses and can eliminate the need to pay for the services of a book-keeper on a day to day basis.

 

Convenience

 

The ‘cloud’ aspect for online invoicing and financial management means that you have the freedom to access details wherever you are and whatever the time of day. This can be particularly useful if your work involves a degree of travel or long periods away from your base or office.

 

Being able to have a ‘hands on’ approach at all times means that you can maintain an overview of invoicing and payments and have a clear picture of cash flow and how income streams are operating.

 

Successful Practice

 

Using online accountancy tools empowers a business and allows a greater control of your affairs whilst also making financial savings. Essentially, the more things that you can do yourself, whether it is invoicing or more extensive book-keeping, means that outsourced accountancy man hours are kept to a minimum and significant savings can be made.

 

For more info & advice on online accounting please contact Liquid Accounts on info@liquidaccounts.net.

 

Article written by Emma Rushworth – Liquid Accounts Marketing