Quickbooks and Xero are pretty powerful programs on their own, but it can still take a lot of time getting information into and out of your accounts. So when you start using addons to streamline the administrative side of bookkeeping, things really start to take off. With that in mind, I thought I would run down my top three addons that work with Quickbooks and Xero.
TSheets is a web-based scheduling and time tracking software. You can set up employee schedules and they can clock in and out directly through the website. This can be done with the automated time tracker or by manually entering hours into the timesheet. TSheets also has a GPS tracker. This is very helpful to employers that have employees that are working offsite (i.e: construction). It shows where the employee was when they logged in and out. It helps cut down on the truth stretching that happens out in the field. It can be set up to go to Managers first for approval before it is imported into QB to be recorded as billable hours and payroll hours.
For the independent contractor TSheets is an excellent way of tracking billable and non-billable hours. Having a quick and easy way to track which clients you’re working on allows you to make sure they’re getting billed correctly. You might even find out it’s time to offload some non-billable hours to an assistant. However you end up using TSheets, that information can be imported directly into your Quickbooks or Xero file. You can then run that as payroll or accounts receivable. A lot better than tracking hours in an excel spreadsheet, that’s for sure!
As you might have guessed, Expensify helps streamline expense reporting and reimbursement. Two things that we all want done as quickly as possible! Like TSheets, Expensify is web-based. It makes it much easier for employees to submit expense reports and for you to review and approve them. Employees are able to take pictures of expense receipts directly on their phone through the Expensify app and it will scan for matching information. On the company side you can quickly review expense or even set up automated reimbursement rules. Just like TSheets, Expensify syncs with your accounting software and imports expense and reimbursements to the appropriate accounts. All this means that both you and your employees spend more time working and less time shuffling through boxes of receipts.
So once you have hours to bill and expenses to pay, what then? Well, Bill.com! This last web application centralizes your accounts payable and accounts receivable into one location. Vendors and business owners can send bills directly to this portal to be processed and paid, instead of needing a paper copy sent to their office.
Once the bills are received, they are processed by the bookkeeper and then the authorized approver on the account is notified that there are bills ready to be signed off on. You can see PDF copies of the bills and approve them immediately or wait to pay them at a later time. Once the bills have been approved, the bookkeeper processes them for payment and they are paid by manual check or E-payment through Bill.com. All of this is automatically synced to QuickBooks and Xero without any need for manual entry!
Another benefit of Bill.com is that it functions as a easy to use virtual filing cabinet. The business owner and the bookkeeper have access to the company’s entire history of bills in PDF format and the remittance information filed by vendor in Bill.com. It really does keep things simple!
So there’s my top three suggestions for applications to integrate with your accounting software. These will save you time whether you do your own bookkeeping or you need to get your professional bookkeeper all the information they need. Either way, the less time you have to spend entering data, the more you can grow your business!
If you’re looking for a bookkeeping services to help you with your all your bills and expenses, contact us today!