If..work from home does work and stay productive.
Coronavirus pandemic has sent a shockwave to small businesses. It changes how we used to work. With web meeting and work from home as part of the equation, desk maybe shared instead of a personalised cubicle with family pictures and certificates hanging around, or full of Post-it notes sticking on the monitor. Cut down travelling. Executives don’t need to waste time at the airport waiting for the transit flight to bring them from one place to another; it just a few clicks of the button away will move from one meeting to another…within second. Virtually.
Things have changed.
The business owner may take this opportunity to downsize, move to a smaller office unit since you do not need to showcase your financial muscle by staying at a luxury office unit in the business district. It may help to prevent excessive rent eating into your financial resources.
Where is my document?
Working from home is challenging. Distraction, proper office equipment, locating documents are the issues we had when working from home.
Most small businesses do not have a digital filing system in place, and the majority are still relying on hard copy filing. The sudden change in the way we work has caught most of the small businesses off guard.
You need the supporting documents to verify when there is a discrepancy in the business accounts. You get frustrated when information is not digitally available. You are supposed to work from home, reduce movement to prevent the spread of COVID-19 virus, but have to get back to the office to complete the task.
MoneyWorks Now and QBO (QuickBooks Online) is cloud-based small business accounting software. Both are low cost and do not need sophisticated computer hardware to power it.
The built-in document feature allows the accountant to attach the related PDF document to the transaction. For example, attaching a supplier quotation to the purchase order, a bill to the purchase invoice, or a bank transfer note to the payment transaction, etc.
You can search the transaction by name, type, references, or drill down from the report. There are lots of advantages to having a document attached to the business account. Try it!
To attach a document in MoneyWorks:
Click the image icon at the top right-hand corner and select import image. Then, select the PDF document from the File Explorer (Windows) or Finder (macOS), and hit the open button to attach the file.
To attach a document in QBO (QuickBooks Online):
Click the attachment box on the left bottom of the transaction, and select the PDF document from the pop-up windows.
Simplify the workflow, keep it lean, and change the way you work to survive the coronavirus pandemic.
Stay safe and healthy.