Five Common Questions About Cloud Content Management Answered

As a bookkeeper or accountant, you face a mountain of paperwork daily, and managing it all can often feel like a full-time job. Fortunately, with some of the latest cloud-based document management solutions, you can simplify this process, saving yourself both time and sanity.

The Problem: Why Document Management is a Pain for Bookkeepers

Handling accounting and bookkeeping documents, receipts, invoices and financial reports can be overwhelming. Traditional filing rooms or cabinets or even basic digital folders in dropbox or on your desktop can quickly become chaotic, making it difficult to retrieve information after it has been put away. Searching through endless folders or emails for that one document, facing security concerns, or working from multiple devices can lead to significant time wasted. These headaches take your time away from what really matters—serving your clients and growing your business.

Now, let’s dive into some questions you might have about how cloud-based document management can address these issues and provide practical solutions.

What is a cloud-based document management system?

A cloud-based document management system is a platform that allows you to store, organize, and manage your financial documents securely over the internet. Unlike traditional software installed on a single computer, these systems are hosted online, which means you can access them from any device with an internet connection. This flexibility is valuable for many reasons. It gives bookkeepers who need to collaborate with clients or accountants across different locations the opportunity to do so in a secure manner, and it allows them to access important documents on the go.

How secure is cloud document management?

Security is a big concern for anyone handling sensitive financial information. Reputable cloud document management systems like LedgerDocs use encryption and other advanced security measures to keep your data safe. They also provide secure access control, ensuring that only authorized individuals can view or edit documents.
Cloud-based document management solutions offer an extra layer of protection for you and your clients’ data. You won’t have to worry about lost or compromised files, which can be a real headache in the world of accounting and bookkeeping. LedgerDocs, for example, provides bank-level security, ensuring that your documents are safe from breaches.

How does cloud document management integrate with accounting software?

Many cloud-based document management systems have built in integrations with accounting and bookkeeping software like QuickBooks and Xero. These integrations allow for automatic syncing of documents management and your accounting platforms, reducing manual data entry and minimizing the risk of errors. LedgerDocs integration with Quickbooks makes it easy to attach invoices, receipts, or other important documents to transactions.

How can cloud document management improve productivity?

Cloud-based document management solutions like LedgerDocs allow for the automation of repetitive tasks. You can use the OCR technology to automatically extract data from your receipts and invoices and post them directly to QBO, set up rules for document categorizations based on vendors or customers, and even schedule document requests and reminders. These features help you get more done in less time. Automating your document handling means you can spend less time sorting and organizing and more time analyzing data and providing strategic insights to your clients.

What document management tips and tricks should I know to make the most of these systems?

1. Use Tags and Folders: Using these features makes it easier to locate documents once you have filled them away.
2. Automate Bank Statement Fetching: Look for platforms that offer secure automatic bank statement fetching features. This can save you significant amount of time each month.
3. Automate Requests: Tools like LedgerDocs allow you to schedule document requests, which can automatically follow up with clients, saving you from chasing paperwork.
4. Leverage PDF Tools: Most accounting document management software allows you to work directly with PDFs. Using the merging, splitting and converting pdf features to transform your files to how you like to work with them.

How LedgerDocs Can Help?

LedgerDocs was created to be the perfect hands-off cloud-based document management system for bookkeepers and accountants. Providing them with a platform that does it all: document automation, collaboration, storage, and bank fetching all in one convenient spot.

Ready to see how LedgerDocs can revolutionize your document management process? Schedule a demo today and experience for yourself how LedgerDocs simplifies document management, saves you time, and improves your productivity.