By Benjamin Chou
Transitioning your QuickBooks to a paperless practice is easier than you might have imagined. By choosing a Document Management Software (DMS) system that intuitively integrates with QuickBooks, the tasks of manually labeling folders, making copies, and allocating office space for filing cabinets can be practices of the past!
On average, most QuickBooks client’s have 200 transactions per month. Unless your QuickBooks practice is already paperless, when a client asks about one of those transactions, you may have to sort through piles of paperwork to locate that transaction. This time consuming and unproductive process is what drives many QuickBooks users to seek a paperless DMS solution.
Many QuickBooks users choose a paperless DMS solution because the technology automatically organizes and digitally stores documents in a client folder attached to the QuickBooks transaction. QuickBooks users who use paperless technology benefit by being able to immediately answer client questions about any transaction, invoice, bank statement, receipt, or bill, while the client is on the phone.
Working in this way means never having to make another trip to a filing cabinet to search, retrieve, or sift through a paper file. Having immediate access to all the answers at your fingertips increases client satisfaction and dramatically increases efficiency. When the DMS technology has the four key features discussed in this article, instant access happens in one easy step.
The Four key DMS technology features for QuickBooks users
There are four key DMS technology features for QuickBooks users, including (1) seamless integration with an intuitive interface for the QuickBooks user, (2) annotation of PDF files, (3) storage of files in a non-proprietary database in easy-to-manage file folders, and (4) freedom to choose to store data locally [Local Area Network] or on a cloud-based server.
>Seamless integration
For integration to be seamless and the interface to be intuitive, DMS technology should operate in a way that is comfortable for QuickBooks users. Ideally, file folders would be easily accessible while a QuickBooks transaction is open, and users should have the capability to easily attach an electronic file such as a scanned receipt, bank statement, or other items to the QuickBooks transaction.
> Annotation of PDF files
Once an electronic file, such as a PDF, is attached to the QuickBooks transaction, the DMS software should allow the user to annotate the PDF file.
The DMS software should also allow for the attachment of electronic reminder notes to the document. This feature allows for a true paperless multi-user environment where multiple people can add and review information associated with a file without having to pass any paper from one person to another.
> Non-proprietary database
DMS technology should be designed to allow for the storage of files in a non-proprietary database. Therefore, the user will always have complete control of their documents instead of being forced to use a different file format to satisfy a DMS provider. Furthermore, the file folders should be organized and named with labels that mimic the QuickBooks labeling system, such as bank statements and receipts.
File naming and file folder placement should be automated and easy to manage. Scanned files that are automatically named and placed into the appropriate file folder will dramatically increase the efficiency, uniformity, and accuracy of the DMS process.
> Flexibility to store data locally (LAN) or in the clouds
Having the flexibility to store QuickBooks data locally or send it to a cloud-based server, allows one to work in whatever way they prefer.
Why should a QuickBooks user implement DMS technology today?
Many QuickBooks users have already implemented DMS technology as a means to improve efficiency and increase profitability. Implementing DMS technology today means becoming more competitive and profitable tomorrow, post-implementation. Personable, Inc.’s SourceLink DMS users report experiencing an average of 90% time savings post-implementation of SourceLink technology. Rather than having to spend valuable time searching through paper file cabinets and retrieving files, users report being only two double mouse-clicks away from any file attached to any QuickBooks transaction. When DMS for QuickBooks can be managed this easily, the decision to go paperless becomes uncomplicated.