Document Management

The one solution to manage your important data.

Document Management with LedgerDocs

For many people that deal with receipts, bills, bank statements and other business documents, it’s a never ending sea of paperwork. Bookkeepers and accountants can help the business owner, freeing up valuable time and also reducing a source of stress. But what if there was a way to make life easier for those bookkeepers, accountants and CFOs that need to handle client paperwork? That’s where document management arrives into the discussion.

LedgerDocs is one solution that bookkeepers and business owners rely on to better manage and file their important data. Using software and hardware technology, document management solutions like LedgerDocs are eliminating redundant tasks and data entry, recovering time and productivity for workers, and make doing your company’s books easier and less frustrating.

The Document Management Cycle

Before we entered the 21st century, bookkeepers could only work one way: by handling all of the important documents themselves, organizing them, writing down the data, and storing the documents for any future needs. Even for a small one-person company, staying on top of your books is a challenge. For a growing company, bookkeeping can quickly evolve into a full-time task – one that can be very prone to error.

 document-management-bookkeepers

As scanning technology and digital photography developed in the early 2000s, people could start to capture and store more information electronically. Around 2005, machine learning started to better develop. Software developers made use of new advancements and algorithms that allowed their programs to start anticipating future actions by users.

In 2010 our bookkeeping company developed the first version of what became LedgerDocs. We made the software to help our own bookkeepers with their clients. The feedback from our group went back into developing even more functionality into our document management software.

 

How a Bookkeeper Uses Document Management Software

Using a document management platform, a bookkeeper or accountant can have all their clients’ important paperwork arrive at their desktop. All the data, including the images, PDFs, notes, tags, receipts, attachments and so on, are securely stored in the cloud. There’s no more need to send an overflowing shoebox of receipts and invoices to your bookkeeper.

document-management-solution-ledgerdocs

Once the electronic document arrives in the inbox, the bookkeeper is notified of its arrival. They can then post the document’s data directly to their accounting software, if the document management software allows for it. (LedgerDocs integrates with QuickBooks Online or QuickBooks Desktop, so users of both accounting softwares can post directly to their ledgers.)

Now that the need to physically handle the document and enter its’ data into your accounting solution has been eliminated or automated, the bookkeeper enjoys a number of awesome benefits:

  • Time savings (the data gets filed to the accounting program automatically, no more need to drop off papers, or to sort documents)
  • Greater productivity (the software “learns” to assist the bookkeeper, helping them auto-populate data fields)
  • Easier storage & recovery (documents exist digitally, and you can search through thousands of documents for a particular one with ease)
  • More value for clients (send automated reminders, make note of important events, no more lost documents)
  • Less worry & stress (control your incoming documents, customize your interactions with clients, eliminate the need to send reminders to clients)

A Better Way of Doing Bookkeeping

When bookkeepers made the leap from working on a business’s paper-bound books to using bookkeeping software, they easily noticed the benefits from using accounting software. Now, as the bookkeeping profession transitions from data being stored on an individual computer to data stored on the cloud, more time savings and less headaches are being enjoyed.

Document management tools like LedgerDocs can sift through thousands of documents in seconds, to tell you which one you need to find. It can hunt down and notify you of duplicate documents before they become a headache. Document management can also keep your process from getting unmanageable as you grow your bookkeeping business.

And as machine learning and artificial intelligence (AI) keeps getting better, it will be incorporated into the next generation of document management tools. More sophistication in software will allow bookkeepers to automate even more repetitive tasks, to do more work in less time, and to provide greater value to their clients.

Why not give document management software a try yourself? Sign up today for a free trial of LedgerDocs and see how this solution can work for your bookkeeping challenges.