Greetings eager accounting pros!

Lately my email has been flooded with requests for information on what my top applications (commonly known as apps) are.

What are apps? Applications are kind of like shortcuts. I’m sure you use them on your smartphone: there are icons you can click to take you to your banking site or social media platform, like Twitter or Instagram—or maybe you use one for a quick online shopping experience, like, say, through the Amazon app.

Applications for bookkeeping easily integrate into your cloud accounting platform, like QuickBooks Online, to enhance the core platform and increase your efficiency. When we are more efficient, we save time. As I’m sure you have come to know, time is a limited resource and is irreplaceable. So when we save time, we also create opportunities to grow our business. In short, apps help you grow your business.

You can get info on #JennieApprovedApps here. But if you want the short list of what to get started with, you’ve hit the jackpot with this post!

If you are new to the cloud accounting scene, you’ve likely suffered from information overload. Way too much great stuff is out there and it can be intimidating. It’s a challenge to know what really works and what is worth pursuing to save you precious time, let alone trying to figure out if your client will like it! Here is an insider tip: check out Intuit’s apps.com website. It is loaded with applications and rated by your peers in the industry.

First, be warned: applications and cloud accounting will change your workflow. It is important to know this path before taking the journey. But your workflow will change in a good way. Remember: applications help you save time and money and grow your business. Here are some things to consider:

  • procedures and detailed job instructions will need to be revised
  • ongoing training for you, your team members, and perhaps your client
  • acceptance that this road is constantly evolving
  • review of your organization’s IT infrastructure
  • how you will be paid. The hourly billing will penalize you for such efficiencies. You may wish to look into value pricing as your new pricing matrix.

Now on to the good stuff. In my opinion, there are four areas in the bookkeeping scope that need to build efficiency before we can go after the larger advisory service applications.

They are:

  • Data entry
  • Vendor payments
  • Accounts receivable
  • Payroll

So here we go: the applications below will increase your efficiency so that less time is spent on mundane tasks. Now you can spend time on building your business. How do I know? Because this is exactly what I did here at Moore Details Bookkeeping.

Hubdoc: This is a must-have, cornerstone application. Why? It will save you needless back and forth communication with your clients by fetching bank statements and bills and eliminating paper in your organization. Imagine no longer receiving paper from your client! Hubdoc becomes your virtual inbox and filing cabinet. Check out my latest webinar with the Accountant’s University and Jamie MacDonald of Hubdoc here to get more information.

 

Plooto-Your solution for electronic payments. This application plays nicely with Hubdoc to streamline your accounts payable process. Once a bill is published from Hubdoc to QBO, Plooto comes into the process by extracting outstanding payables so it can readily issue payment. A bonus for Canadians is that we can now send money to the US cheaper than with a wire transfer. Yeah! There are so many features this application has. I encourage you to find out more through this video with Hamed Abbasi, the CEO of Plooto, and me, below.

Invoice Sherpa-Collecting on accounts receivable is a royal pain in the butt! Invoice Sherpa becomes your perky accounts receivable collections agent. Always effective to get you paid! With a vast array of payment options, your clients will be gently reminded when an invoice is created, past due, and overdue. They can easily pay you through various payment gateways. It’s simply divine. Check out the features here with mastermind Shaun Clark himself.

Wagepoint– Payroll…yuck. Such a time-suck, too. But not with Wagepoint. It solves my pain points by automatically remitting source deductions to CRA and WSIB board, creating pay stubs & T4s using an employee portal, issuing Records of Employment and employee direct deposit, and integrating with time-keeping apps like Track.

So this is great, right? These apps save me loads of time. But wait. What about my clients? What do they think of all of this? Here are some of the responses I got when asked my clients and mentees about these integrations.

  • Jennie, I love that you no longer bug me for bank statements or give me trouble because I sent the wrong one! [solved with Hubdoc]
  • Making payments is a snap! [solved with Plooto]
  • Yeah!!! No more CRA late filing penalties [solved with Wagepoint]
  • Lovin’ money in the bank! [solved with Invoice Sherpa]
  • Taking photos of my receipts is cool!

So there you go. Your starter kit. Each one of these apps has a stellar customer service team. I leave you in good hands. Once you’ve mastered this, you’ll be primed for stronger applications that will enhance your relationships with your clients.

Cheers!

Jennifer Moore Signature

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