For years companies have been offering customers e-delivery options for monthly and quarterly statements. Many banks, credit card companies, and other financial institutions give customers online access to their statements and/or deliver them electronically. This can be a preferred choice for those who do a lot of bookkeeping while traveling, as well as those whose financial statements require shared access.
Having statements delivered electronically can be an eco-friendly alternative to paper statements. E-delivery reduces the amount of paper that needs to be printed, circulated, photocopied, and, ultimately, shredded. Online statements can be printed optionally, but they can also be downloaded, emailed, and accessed by multiple people simultaneously without the printing, thereby requiring far fewer pieces of paper that will only need to be discarded later.
Storing financial statements in unsealed folders, in unlocked drawers, and on desktop surfaces compromises their security and confidentiality. Online storage of financial documents can offer more security than many common office storage methods because physical desks and cabinets may be accessible to anyone, including people not authorized to view financial statements. Paper documents are also more susceptible to being discarded, misplaced, or misdelivered, whereas documents stored online are reliably available to those with the approved login credentials.
When it’s time to reconcile accounts and track expenses, having documents, like receipts, invoices, and statements, all stored in online channels simplifies the process and eliminates the mountain of paperwork. Documentation for purchases, withdrawals, deposits, and transfers can be easily pulled up—and retrieved by more than one person, if needed—and if you use accounting software products that integrate with one another, much of the reconciling and syncing of data can be done automatically, with little to no additional data entry needed. Keeping records up-to-date is a simpler and more efficient process when programs for financial management work compatibly with each other to give you real-time access to your financial picture. Online access offers convenience and accessibility when you need immediate retrieval of your records for tracking or reconciling expenses.
If you’ve ever misplaced a statement, or thrown away a document, invoice, or receipt only to discover later that you need it for tax preparation or balance dispute, then you know how frustrating it can sometimes be to deal with saving and storing paper statements: you don’t want to discard or lose something important, but you also don’t want to clutter an already-tight space with lots of filing cabinets containing copious amounts of paperwork you may never need to consult. Cloud storage offers a bit of relief from the pressures of onsite paper storage because statements delivered electronically can be saved and accessed any time of the day, from any device you use, from any location you happen to be working. Online access to important documents is especially helpful to remote workers, as well as those whose job takes them to multiple locations throughout the day. Wherever you are, your needed statements can be accessed within just a few clicks: no storage or supplies needed.
Cloud-based services for business accounting have become popular over the years because they provide centralized, organized storage of important financial documents and transactions, and because they offer owners, accountants, bookkeepers, and office managers on-demand access to financial records. Online check printing is a popular cloud-based financial tool that can help keep payments up-to-date and the data accurately recorded in those situations when a paper check is the necessary or preferred payment method. Checkeeper users benefit from an online check registry that updates itself automatically by recording and storing the transactional details of each check created in the account. The online registry can be searched by any check field, and it can be accessed from anywhere by all the users who are authorized. The entire check history can be exported at any time and shared easily with a bookkeeper, accountant, or tax preparer, when needed.
Even among all the many payment and e-payment options available, millions of business payments are still issued through paper checks. Online check printing and mailing can reduce the overall amount of paperwork needed (and wasted), and it offers many of the benefits that cloud-based, mobile-optimized financial tools have for businesses.