Online Bookkeeping – a Platform for Collaboration

BLOG10th Nov 2016

In this environment of driving operational efficiencies, have you considered how effectively and efficiently your own finance function is operating, and how online bookkeeping software could help?

Whether you are a finance director or a business owner, the introduction of new, cost-effective, cloud bookkeeping software can revolutionise not only the platforms on which you record your business’s financial information but also the way in which you can collaborate with your clients, employees, suppliers and accountant, giving your finance functions the ability to become more efficient and improving cashflow at the same time.

Built-in dashboards also allow you to easily access the financial information you require at the touch of a button.

End-to-End Sales Integration

You can raise a sales quote which your customer can accept, reject or amend online. Once the sales order has been accepted and the work performed, you can then quickly convert the quote into a sales invoice which can be sent electronically to your customer with the ability for the customer to pay instantly at the touch of a button, should they choose to! This end-to-end integration is dramatically reducing the time it takes for businesses to get paid as it shortens the time it takes to get the sales invoice to the customer.

End-to-End Purchases Integration

You can raise a purchase order which your supplier can accept, reject or amend online. Once the purchase order has been accepted and the goods received, the supplier can then send their invoice directly to the software which can then be converted to a purchase invoice with a due date for payment – no need for paper copies of purchase invoices to be held as the software stores an electronic record of the invoice. Where appropriate, purchases can be allocated to stock and stock values and quantities bought and sold monitored.

Job Management

You can manage the workflow on jobs, raise purchase orders, input timesheets, allocate material costs to jobs, raise the sales invoice and report on the performance of each job without having to input data twice.

Expense Claims

Employees can submit their expense claims for approval online using a smartphone or tablet App by taking a picture of the receipt and attaching it to their claim. No more lost receipts!

Daily Bank Feeds

Many of the banks now provide daily direct bank feeds allowing online bookkeeping software to receive the bank statements automatically via a secure connection; since the bank account is always kept up to date on the software, business owners are able to keep on top of their debtors allowing them to see at a glance which customers’ invoices are outwith their standard credit terms.


In addition to reports on how jobs are performing, you can track the performance of divisions, locations or any other categories you wish.


As data can be shared by you and your accountant, a partial or fully outsourced collaborative cloud bookkeeping service has become much more achievable and attractive.


With data capable of being accessed by employees, suppliers, customers and accountants, “collaboration” is definitely the new buzzword.


How AAB can help you with

Virtual Finance

Tailored to you and provided by a team of dedicated specialists, our virtual finance function can operate alongside your current processes and people or as a full-service offering. Our Virtual Finance Function (VFF) is a bespoke service tailored to the size of your business and the scale and complexity of your needs. Delivered by our highly skilled team, many of whom boast years of industry experience, it utilises cloud-based technology to furnish valuable, real-time financial insights about your business, accessible wherever you are and whenever you need them.

View our virtual finance service

How AAB can help you with

Business Advisory

Many businesses encounter challenges in implementing their strategies and generating traction. Our business advisory team provides effective tools for business owners at every stage of the lifecycle and approaches to overcome these obstacles. We offer guidance to help you achieve and maintain traction, while also ensuring accountability for you and your team. We can help you to understand your business performance and identify what you can do to improve profit and create time.

View our business advisory service

Related services