DO YOU GET frustrated when you see the little box at the bottom of the BAS lodgement form? You know, the one where they ask how long it took to complete the form because I feel like writing, “It took 10 minutes to complete the form, but 4 hours to do the data entry and bank reconciliation work!”
Junior bookkeepers, accounts receivable and accounts payable clerks, and office administrators will all share that their most time-consuming work is data entry, coding and bank reconciliations. However, there is software available which almost totally automates this work — and it’s becoming increasingly accurate and speedy.
I WAS LOOKING in my top draw and noticed some receipts, bundled by the month, with a bull clip holding them together. Do you know someone who also stores their receipts in a shoebox?
I have, of course, now entered them into our MYOB accounting software. However, it begs the question: How many business people do you know who still store their receipts and other paperwork with way?
The legal requirement to file receipts
Every business owner has the legal requirement to keep their accounting records on file even if your receipts are printed on thermal paper and fade after a couple years.
That’s where Shoeboxed could be a very handy service. It doesn’t matter whether you are a bookkeeper making a recommendation to your client, or whether you’re doing it for your own convenience. A service like Shoeboxed provides you with a cheap form of data entry; they do it all for you and provide the information to you online.
Easy and cheap
When you sign up to Shoeboxed, you can send your receipts to them using reply paid envelopes or by taking a photo using their smartphone application.
If you are a bookkeeper you could recommend this service because the cost of data entry is much cheaper than you could do by yourself, plus you could be doing smarter things for the rate you charge.
If you are a small business owner and you store your receipts in a shoebox you should definitely take advantage of their Start Free offer and see just how well it works.
Their lite plan costs $19.95 per month for up to 50 receipts, that’s 40c to enter a receipt. How many receipts could you enter per hour and how much do you charge per hour. I’m only presenting the information this way because it makes very good economical sense as well as provide you with a system to store and retrieve your receipts.
Bookkeepers could use it
If you have completed our MYOB Training Courses you’ll learn all about the Day-to-Day transactions in Course 2 (of our 5 courses you receive for one low price) and realise the benefit of letting your bookkeeping clients know about this service.
Learn more about Shoeboxed by watching their video below: