Real Time Accounting

Author: Proactive Accountants Inc. |

Blog by Proactive Accountants Inc.

Real Time Accounting will change the way small businesses are managed.

What is Real Time Accounting?

To answer that we must first look at the old method of accounting. A typical small business would have a bookkeeping person do the accounting entries once a month, or quarter or even once a year. So the information needed to run the company is aged and hard to get. Most managers ran their companies with little hard accounting information to assist them.

Using Real Time Accounting the manager can look at his Company DashBoard and get the following information.

Reconciled balance of all bank accounts.

Balances for Accounts Receivable, Inventory, Accounts Payable, Bank Loans, and much more.

Sales month to date and year to date.

Other key financial indicators relevant to the company.

This information will be no older than a few hours. He can get this information any time he wants. This is Real-Time Accounting.

So how do we get to this advantageous position?

First we convert our bookkeeping to an online, cloud based accounting software.

Link your bank accounts and loan accounts to the software.

Begin scanning pertinent documents using document reader software.

Yes, it is a process that requires some energy and patience. It is well worth while.

For more information, please contact us.