Are you making full use of cloud software in your bookkeeping business?

Are you taking full advantage of all its benefits?

Still not sure why you should be doing more with cloud software?

Despite popular belief, bookkeeping businesses are NOT going obsolete. It is, in my opinion, undergoing a big transformation, one that will define the bookkeeping profession for the next generation. With the growing popularity and effectiveness of cloud software like Xero, MYOB, Quickbooks Online, Wave, Zoho Books, and more, the challenge for bookkeepers is to use the technology available to add value to both your bookkeeping practice as well as your clients’ businesses.

One of the biggest selling points of cloud accounting software is the ability to access the data from any device, workstation, or location where there is an internet connection. For your bookkeeping business, this means you and your team now have the ability to work remotely, negating the need to travel to your clients’ offices regularly to get work done. In turn, you will be able to focus more on growing your business and serving all your clients to the best of your abilities.

Surprisingly, I’ve found that using cloud software, in fact, increases our connection with clients. Clients now have the ability to access their financial information in real time, from anywhere in the world, as long as they have valid login credentials to access the systems. This not only gives them a snapshot of their finances as it stands but also allows them to see the work that you’ve been doing. We can now automate regular reports and updates sent to clients and that is part of improving communication between bookkeeper and client.

The ability to automate processes within most cloud accounting and bookkeeping software is a great way for bookkeepers like you to improve your processes and to create a system for daily activities in your business such as client onboarding, client reporting, etc. This allows your business to cut down on time spent on tasks such as generating reports, creating spreadsheets, drafting communications to clients, and more.

The benefits listed above are all well and good, of course. But do you know that there is more you can do?

Most cloud accounting software come equipped with apps, plugins, and integrations that enhance the productivity and scope of the system. This gives businesses the opportunity to build an automated and scalable ecosystem that integrates various areas such as accounting and bookkeeping, sales and inventory management, client relationship management, and much more. In such an ecosystem, the accounting and bookkeeping software plays an integral role, because it represents the bottom line for the business. It is what truly counts. As a professional bookkeeper, this represents a unique opportunity for growth. By equipping yourself with the latest knowledge and information about available software and technology, you will play an important role in your clients’ businesses in providing them with sound advice about building and maximising the potential for their cloud ecosystem.

Bookkeepers, armed with a critical understanding of your clients’ business numbers, are uniquely qualified to become a cloud business specialist by familiarising yourselves with all the various applications that are suitable for different industries and that can help to automate more and more of the small and medium-sized businesses you serve.

What is emerging from this is the various cloud application vendors who are developing advisor tools and certifications for qualified advisors who become experts in their fields and specifically with the software applications they are qualified for. As bookkeepers, discovering what you are interested in learning more about and taking the initiative to pick up on the relevant skill sets will do wonders in helping to grow and scale your bookkeeping business.

In conclusion, cloud software is here to stay in our industry. To stay ahead of the curve means keeping abreast of the technology available, transforming yourself from just a bookkeeper to a trusted business advisor, embrace automation, and don’t let all the growth opportunities pass you by. It is an exciting time to be in our profession today because the possibilities are simply endless! I hope you continue on your journey with a view towards a future firmly entrenched in the cloud above, both for your business and for your clients.


P.S. Don’t miss my upcoming webinar ‘Automate Your Client Onboarding with XPM’, during which you’ll discover:

  • how to create an engagement letter using a custom template,
  • utilise fields in XPM to reduce duplications,
  • track results of engagement letters,
  • and turn an acceptance into a job.

We’ll include many other options to make this work for you, plus get a bonus engagement letter template that you can upload into XPM and start using right away.

Register here for the webinar on 26 October 2017 at 1pm AEDT.