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Why Businesses are Storing Their Accounting Documents in the Cloud

Why Businesses are Storing Their Accounting Documents in the Cloud

Adopting a digital document management system can be a big step for a business, and it is important to evaluate the pros and cons of this decision in a business environment.

The team here at LedgerDocs has had the opportunity to speak with a number of small and medium sized businesses throughout the years, and we have heard first-hand the hesitations that business owners have when considering moving to the cloud. The adoption process not only takes time and training, it also takes a desire to change from the side of the business. In the long-run however, it is clear that digital document management systems, such as LedgerDocs, are able to speed up the bookkeeping and accounting process, while saving time, increasing security, and promoting collaboration.

Easy Upload

Historically, businesses would commonly share important accounting documents via a shoebox of files, or by scanning them into their computer and emailing them to the bookkeeper. This process has the ability to lead to a series of missing files, lost time searching for documents, and potentially missed or incorrect entries.

With LedgerDocs, there are three simple ways that users can upload documents; each of which sends documents directly into the inbox of LedgerDocs, where the bookkeeper can then perform the necessary bookkeeping/accounting tasks.

  1. Scan or save documents onto your computer and upload them to LedgerDocs directly from the application. You can easily add tags and notes to give your documents context.
  2. Email or forward documents directly into LedgerDocs using your company’s unique LedgerDocs email address. You can add notes by typing in the body of the email.
  3. Use your smartphone to take a picture of a document, and upload it directly to LedgerDocs. You can download our free iPhone app, or use your unique LedgerDocs email address.

 Anytime-Anywhere Access

Once documents have been uploaded into LedgerDocs, the bookkeeper can now perform any of the necessary bookkeeping functions. Because this is a cloud application, documents can be accessed by certified users at any time, from anywhere, as long as they have an internet connection. This means you always know where your documents are, and can access them at your convenience.

Never Lose a Receipt

Storing important information in the cloud allows for you to ensure your business never loses those important accounting documents. LedgerDocs uses a 256-bit SSL encryption and provides regular backups on a daily basis to ensure your documents are safe. This means that no matter what happens to your original documents, there is always a digital copy that is easily searchable.

Increase Communication

The bookkeeping process entails constant communication among business and bookkeeper, to ensure transactions are correctly filled, and the books are properly maintained. With LedgerDocs, communication is simple. Multiple users are able to work together on their financial documents, and collaboration features such as notes, tags, and secure file sharing enhances communication on documents, while greatly reducing the amount of emails and telephones back and forth. See our features page more information on the communication features found in LedgerDocs.

It is common for businesses to be hesitant when looking at new business processes, especially when they can temporarily increase work and time for them in the short term. In the long term, however, it is clear that digital document management systems have the ability to streamline the bookkeeping process which saves valuable time and money. Adopting a secure digital environment that allows for businesses to easily upload, access, and communication on their important accounting documents is a big step; luckily you have the LedgerDocs support team to help you out any way we can.

Want to know more about how LedgerDocs works? Take a look at our “Getting Started Guide” or get in touch with our support team for a quick demo of the application.

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