What is LedgerDocs?
LedgerDocs is a cloud-based document management portal designed to help accountants and bookkeepers receive, manage, and collaborate on their clients’ important financial documents.
What are the benefits of LedgerDocs for a bookkeeper/ accountant or a small business owner?
LedgerDocs is a tool that helps business owners to easily capture their important financial information across all their devices and platforms, and share the information with their bookkeeper and/or accountant. Bookkeepers, on the other hand, gain a wide range of benefits by being able to receive documents virtually, including:
- Working remotely, either in their home office or having staff work from a head-office, rather than having to complete work at the business owner’s workplace.
- Working with clients outside of their geographic region, which helps to diversify their client base and find a niche market that they excel with.
- Collaboration tools that cuts down on back-and-fourth conversations between the client and the bookkeeper this also allows for information to be at the tip of the fingers, for both the client and the bookkeeper.
Can you explain the steps of how a bookkeeper or a small business owner would use LedgerDocs?
Business Owner Uploads Documents: LedgerDocs offers multiple ways for business owners to upload and share their financial documents with a bookkeeper and/or accountant. From receipts and invoices, to bank and credit card statements, business owners are able to photograph their documents using the LedgerDocs iPhone or Android app, email documents directly via a unique company email address, or sync their Dropbox or ScanSnap Cloud accounts.
Working with Documents: Once uploaded, all documents are received in an inbox designated for the business. The bookkeeper will post this information to an accounting application such as QuickBooks Online, and then move the source documents to their customized folder structure, allowing for easy search ability down the road.
Working with Accounting Applications: LedgerDocs was designed as an intermediary between accounting applications. With a direct integration with QuickBooks Online, bookkeepers are able to post transactions from within LedgerDocs, with the source document being attached to the transaction in QBO. Many bookkeepers also use LedgerDocs with QuickBooks Desktop or Sage 50, which is a more manual entry process. Each source document has a specific link which can be copied and pasted into the accounting application, linking the document and transaction together.
How is your product different from your competitors?
Many applications available in today’s marketplace have focused on full automation, and reducing the amount of work completed by a bookkeeping/accounting professional. With roots in the bookkeeping industry, the LedgerDocs team has an intricate knowledge of processes and workflow, and understand that a simple mistake or error can have dire consequences to a bookkeeping file. LedgerDocs focuses more on artificial intelligence rather than optical character recognition, meaning that the software remembers previous information entered and makes smart conclusions to help reduce the manual entry of information. Bookkeeping and accounting is an industry where information needs to be entered in 100% accurately – this is why LedgerDocs ensures that information is entered accurately the first time, rather than revisiting and checking information afterwards.
How do you see LedgerDocs changing the landscape for accountants & bookkeepers?
From their roots as a bookkeeping and accounting firm, LedgerDocs’ goal is to give bookkeepers and accountants a tool that allows for them to work virtually and efficiently. Their main objective is to empower bookkeepers and allow for them and their staff to work remotely with clients that they love to work with, no matter where they are located.
The LedgerDocs team also believes in working smarter, not harder. Each feature in LedgerDocs is built with bookkeepers and accountants in mind, and is tested by their team of bookkeepers prior to being released to the public. This ensures that every feature is well thought-out and actually helps bookkeepers and accountants to streamline their processes.
How do you see the integration between LedgerDocs and ScanSnap creating a benefit for small business owners –accountants & bookkeepers?
With the LedgerDocs and ScanSnap Cloud integration, they further streamlined the document management process by pushing documents directly from a ScanSnap scanner in to a designated LedgerDocs account. With the Fujitsu iX100 scanned the LedgerDocs and ScanSnap integration goes beyond convenience, and allows the clients of bookkeepers and accountants the ability to upload documents seamlessly from anywhere with this portable scanner. The LedgerDocs and ScanSnap Cloud integration is synced using WiFi giving users more freedom as to when and where they can scan documents.
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