cloud based tools

OVERVIEW

Why Use Cloud Based Tools? 

Our goal as a modern financial team is to empower our equally modern clients to be successful, and efficient business owners.  Therefore, we recommend cloud-based tools and systems to help our clients simplify business ownership and management.  Some of the many reasons you should be leveraging more of the cloud for your business operations include:

▶︎  Better Business Continuity
▶︎  Easy to use
▶︎  More Reliable and Can Scale Alongside a Company's Needs
▶︎  Empowers the User to Access Their Real Time Data From Anywhere
▶︎  Saves Space and the Environment

We have compiled a list of a few of our favorite cloud-based programs based on functionality that we recommend, below.

INVENTORY MANAGEMENT

DEAR/ Cin7 Core Systems

A Reliable Inventory Management Software System for B2B eCommerce to Completely Manage and Control Stock.

DEAR/ Cin7 Core Inventory Systems provides a beautiful, user friendly hub from which to manage your inventory from.  It integrates with major eCommerce platforms like Amazon, PayPal, WooCommerce, Shopify, Stripe, Xero, eBay and more, making it an essential for our clients that require the management of complex inventory. 

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Some of the many features and benefits of Cin7 Core include:
  • Accounting:  eliminates manual data entry and streamlines your business.
  • Purchasing:  find your top suppliers based on value using advanced DEAR analytics.
  • Manufacturing:  see a full view of your production costs and inventory status.
  • Inventory Control:  real time updates that simplify your inventory management.
  • B2B Portal:  allows customers to manage their orders from your web portal.
  • Selling:  expand your sales locations using quickly deploying DEAR POS on multiple devices.
  • Sales Channels:  efficiently track orders across all of your sales channels.
  • Warehouse Management:  streamline your warehouse productivity and fulfillment process.
Learn More

Further Reading: 

IG_ Inventory Inventory
Understanding Inventory Management Systems Know Your COGS (Cost Of Goods Sold)

 

CORE ACCOUNTING

Quickbooks Online

Smart Accounting Solutions.

QuickBooks offers cloud-based software that accepts business payments, manages and pays bills, and offers payroll functions.  It syncs nicely with popular payment apps and allows each business to link their bank account and easily track expenses on the go.  

 

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Just a few of the features of this flexible software includes:
  • Invoice customers
  • Track income and expenses
  • Run payroll
  • Pay bills
  • Tax deductions
  • Reporting
  • Track miles
  • Cash flow
  • Sales and sales tax
  • so much more ... 


This cloud based software is the backbone of our operations for our clients and makes accessing and updating key financial records a breeze, with desktop and mobile apps.  They also offer plans designed to be affordable and beneficial to a wide range of businesses.  

 

Further Reading:

 

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ACCOUNTS PAYABLE + RECEIVABLE

Bill 

The Platform for Managing Your Payables and Receivables with Visibility and Confidence.

By taking the manual steps out of gathering, inputting and paying bills, clients save time and therefore become much more efficient.  Bill (fka "bill.com") is another essential cloud based system we offer our clients because it allows users to manage and monitor cash flow and automate payments. 

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Bill integrates and shares data with many of the popular accounting systems:
  • Automatic Sync:  Oracle NetSuite, Sage Intaact, Quickbooks, and Xero.
  • Data Integration:  Microsoft Dynamics, Sage, SAP, Fresh Books Cloud Accounting.
Some of the benefits Bill offers businesses are:
  • Increase Efficiency and Save Time:  automates busy work so you can focus on business.
  • Audit Readiness:  payment related activity is logged for easy reference.
  • Gain More Control:  set up approval workflows and custom roles to suit your team.
  • Get Up and Running Quickly:  start getting paid and making payments in a matter of hours or days, not weeks or months.
  • Keep Everything in Sync:  connect Bill to top software and payment tools.
  • Trust in a Secure Solution:  data in transit is encrypted using industry standard Transport Layer Security (TLS).

Further Reading:

 

Sales and AR roundup

PAYROLL

Gusto

Cloud-based Payroll, Benefits, and Human Resource Management Software for Businesses Based in the United States.

Gusto makes it easy to onboard, pay, insure, and support your team.  This cloud based payroll program offers amazing benefits for businesses of all sizes with a friendly flare.  Employees are empowered to update and access their payment and tax records and all of the key tax documents like W-2, I-9's, and 1099's are signed and stored online.  They sync with popular programs like Xero, T-Sheets, Quickbooks, and more. 

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Flexible, convenient services offered include:
  • Full Service Payroll:  easily make payroll payments, automatically file payroll tax and access reports from an easy to use, attractive dashboard.
  • Medical, Dental and Vision Benefits:  Gusto matches benefit programs to your employee's needs and pricing within your budget.
  • Certified HR Experts:  access to HR pros for all of your questions, helpful templates for job postings and offer letters.
  • Time Tracking:  employees can track time right in their account - great for hourly workers and automatically tracking holidays and time off to automatically be calculated into payroll.  For more complicated time tracking, it syncs nicely with other programs.
  • Compliance Help:  Gusto helps track PTO, send offer letters, build org. charts and helps keep you on track for onboarding new employees and staying in compliance.
  • Employee Finance Tools:  Gusto Cashout™ lets employees get money between paydays based on estimated earnings. It’s repaid automatically from their paycheck with no fees and no interest.

Further Reading:

Payroll roundup (1)

 

REPORTING AND KPIS

Fathom

Powerfully Simple Financial Reporting and Analysis.

Fathom is an easy to use management reporting and financial analysis tool, which helps you to assess business performance, monitor trends and identify improvement opportunities. 

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Features/ Benefits:
  • Analysis: Fathom provides a suite of in-depth analysis tools and metrics which help you see exactly how well your business is performing. These tools and metrics help to assess profitability, cash flow, growth and other key performance indicators (KPIs).
  • Reports:  Create beautiful reports and dashboards.  Whether presenting to a client, reporting to the bank, or updating your management team, you'll always be prepared with Fathom.
  • Benchmarking: On-the-fly benchmarking.  Fathom helps you easily compare, rank and benchmark your companies, clients or franchisees.
  • Consolidations:  Fathom enables you to group your related companies together to create consolidated reports for an organization.  So, in addition to reporting for an individual company, you can easily track and monitor the performance of a group to which a company belongs.
  • Alerts:  Using Fathom you can easily setup alerts for your companies or clients, then monitor when key financial metrics miss targets or exceed critical alert levels.

Learn More

Further Reading:

Universal KPIs

 

EXPENSE MANAGEMENT

Expensify

Easily Track Your Receipts and Manage Expenses on the Go

Whether you're a road warrior with pockets full of receipts or a busy accountant buried in paperwork, Expensify automates the entire receipt and expense management process.

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Easy to use features include:
  • One-Click Receipt Scanning: Take a picture of your receipt and Expensify automatically submits an expense report for you in just one click
  • Next-Day Reimbursement: As soon as reports are approved, rapid reimbursement delivers the money right into the employee's bank account within 24 hours via ACH direct deposit.
  • Automatic Approval Workflows:  Admins can customize expense policy rules for their organization and configure Expensify to flag any expenses that actually need a manager’s review. The rest — like that $3 coffee receipt — are automatically approved.
  • Automatic Accounting Sync:  Any changes made in your accounting system are automatically synced with Expensify in realtime for constant visibility into your organization’s finances, making audits and tax season a breeze.
  • Easy-To-Use Mobile App:  No more spreadsheets, no more lost receipts, and no more manual data entry. Expensify’s mobile app makes it easy for your clients to track receipts on-the-go and submit expense reports on time.

Why waste your clients’ time with spreadsheets when expense reports can be automatically submitted, approved, and reimbursed? Spend time running the business and let expense management take care of itself.  

Further Reading:

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TIMEKEEPING

Harvest

Simple Time Tracking, Fast Online Invoicing, and Powerful Reporting Software.

Harvest allows employees to track time from their computers and phones, and helps businesses understand where their time (and money) goes. 

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Features of this modern timekeeping solution include:
  • Time and Expenses: Time tracking can unlock key information about your business, but remembering to do it can be a challenge. Harvest makes it easy to track time and expenses, so you get access to critical data without driving yourself (or your team) crazy.
  • Keep Track of Your Team's Time: With a quick glance, you can see how your team is doing: who’s tracking time, who’s overworked, and who can handle more on their plate.
  • Projects: Harvest turns timesheet data into intuitive visual reports to help you make decisions and ensure your projects run smoothly.
  • Invoices: Automatically pull the billable time and expenses you’ve tracked into invoices. Want more control over what you charge your client? No problem! Manually create a free-form invoice.
  • Scheduling:  Connect Harvest to its sister app Forecast to schedule your team, see how long projects will take to complete, and improve your estimates.

Further Reading:

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MORE RESOURCES

Read, Download & Listen for More Business Insight

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Read

The Accountfully Blog, which is a great resource updated frequently with more than just helpful articles.  We regularly feature client success stories in our client spotlight series, and show a behind-the-scenes look into our team members in our employee spotlights.  These features show our followers how we regularly help businesses like yours and showcases the type of talent you will be working with once you become a client.  
IG_ Inventory Management Guide

 

Download

Accountfully Guides and Case Studies.  These are always available to download and review on our Resources page.  The guides offer in-depth advice and insight into common business challenges, like understanding Key Performance Indicators (KPI’s), Inventory Management, tax advice and more.  We also feature a few case studies that highlight scenarios where we have had a huge impact on a business’s success.
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Watch and Listen

Accountfully offers many ways to answer your most frequently asked accounting and small business related questions; from livestreams, to weekly Friday FAQs, to our CPG focused podcast, The Month End.   You can catch all of these recordings on our YouTube channel, or subscribe on your favorite streaming service.

 

Ready To Outsource

Your Accounting and Start Growing?

Outsourced bookkeeping and accounting firms like Accountfully perform day-to-day accounting and bookkeeping tasks while also serving as a strategic partner to our clients. We’d be happy to hop on a call and review a typical engagement and answer any questions you might have about what we do and how we can help.

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