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How to Simplify Accounting Processes and Improve Cash Flow

Learn how to simplify accounting processes & improve cash flow. A Roseville virtual CFO at Cook CPA Group can help you chose the best online software to streamline your tax and accounting processes.

Are you a small business executive with big ideas on a tight budget? Do you worry about cash flow, but find it difficult to keep track of your financials, let alone think about the financial future of your company?

Maybe you’ve been thinking about hiring a CFO (Chief Financial Officer) to help you oversee your business financials, but are worried that you can’t afford another full-time employee. Or maybe you’re just so busy you haven’t had time. And, do you really want to add one more thing to your to-do list?

Hiring a CFO is often an expensive—and time consuming—undertaking, but we have a solution.

Thanks to cloud technology like QuickBooks Online and Xero you don’t have to hire a full-time CFO. Instead, you can take advantage of Cook CPA Group’s virtual CFO services.

Virtual CFO Services in Sacramento, California

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The job performed by a CFO is critical to the success of every business. When you outsource these responsibilities to an accounting firm like Cook CPA Group you benefit from the knowledge and experience of our financial professionals–at a fraction of the cost.

But there’s more to it than knowing that your company’s financials are in good hands. When you use Cook CPA Group’s virtual CFO services, you’ll have the information you need to make better decisions so you can focus on what you do best—developing new services and products and running a successful company.

Because we provide virtual CFO services to many small businesses like yours, we can help executives like you make the best decisions about online software for your company.

Once you’ve made the decision to use this service, the next step is to choose online software that will simplifiy your accounting processes and improve cash flow. But with several to choose from, including QuickBooks Online and Xero, how do you know which one is right for your business?

How the Right Online Software Can Benefit Your Business

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As technology becomes more advanced, many businesses are switching their invoicing and accounting systems from desktop to online software. With online software, data is stored in the “cloud,” which is a platform that makes data and accounting software accessible online anytime, anywhere, and from any device. In other words, there are no applications to download and install on your desktop.

The two most popular online software packages are QuickBooks Online and Xero. Although similar in many respects, there are differences as well. Both do a good job at financial reporting, payroll, bank synchronization, billing management, custom invoicing, and accounts payable / accounts receivable. Both are also mobile-friendly.

One of the major differences is that QuickBooks was created as desktop software and then made the transition to the cloud; whereas Xero was developed specifically to work online in the cloud. Another, perhaps more significant difference is with bank reconciliation, which both do, but with different user experiences.

Xero makes it easy to match invoices and receipts with account transactions with just a quick glance, enabling you to easily find errors, as well as potentially fraudulent charges. QuickBooks uses a “search engine” type approach, which for larger businesses with more items to reconcile, might make it a more time-consuming task.

While it may seem intimidating at first, online software is now the way to go if you want to streamline your accounting processes and improve cash flow.

The advantages of cloud-based accounting software are many; you’re able to view up-to-the-minute business data, communicate more effectively with your accountant during tax time, as well as other times of the year, and minimize paper clutter at the office. It’s also easier to run reports once the data is entered into the system, which of course, can be done at any time–because you don’t need to be at the office to do it.

Also, when you use cloud-based software such as QuickBooks Online or Xero multiple users (e.g. business owners and their accountants) can easily access financial data, and backups are done automatically.

You’ll also be able to integrate existing software such as, which, if you’re like many small business owners, you use to pay your bills online (accounts payable), and your clients use to pay your invoices (accounts receivable). You’ll save time, as well as eliminate human error from manual re-entry.

At tax time, you’ll also be able to export data to your accounting software or import existing data from an Excel spreadsheet (if you still use them), saving you and your accounting team valuable time and money.

Work with a Roseville Virtual CFO at Cook CPA Group

As your company’s chief executive, your job is to find ways to make your business profitable and operate more efficiently and Cook CPA Group can help. We’re pros at handling the financial aspects of businesses like yours, and together we make a great team.

If you’re ready to take the next step, call Cook CPA Group at 916-432-2218 and find out how our virtual CFO services can benefit your small business right now.