Categories
Software

How to connect your Xero with Link4

Link4 and Xero integration:

Automate your Invoicing with Link4. The only add on you will need to deliver your invoices instantly.Without PDFs, Without Emails and Without Data Entry

Link4 improves the workflow of dealing with all your sales invoices or purchase bills by integrating with Xero – beautiful accounting software. Connect Link4 today to see a noticeable difference in time spent on your accounts.

When an invoice is created in Xero, Link4 will deliver your invoice to your customer’s cloud accounting software.

The same happens when one of your suppliers sends an invoice to you, Link4 will deliver it to you as a purchase bill

  • Link4 delivers your invoices to your customers instantly
  • Bills received in Link4 are automatically imported into Xero
  • Your Customers & Suppliers are instantly matched to your customers and suppliers records in Xero
  • Confirm the invoice line items and accounts before approving the purchase bills in Xero

Link4 is a secure Link for cloud systems to be interconnected. No matter which cloud software you are using, Link4 enables users to send invoices directly to another cloud accounting system, instantly

Categories
Automation

Automate Your Small Business for Efficiency and Growth

Automation is becoming more prevalent in today’s modern world; including automation in your business practices could be your next step to business success.

One of the biggest challenges faced by every small business is having too much to do and too little time. Entrepreneurs and small business owners in particular often find themselves spending the majority of their days working in their business rather than working on it. While routine operational tasks are no doubt necessary in keeping the company running, devoting a substantial portion of the business’ limited time and resources to mundane tasks curtails attendance to more valuable activities, thus inhibiting growth. 

This is where automation comes in to play.

According to a 2017 report by strategy consultant firm AlphaBeta, automation is expected to save Australian workers an average of two hours each week on tedious manual work. And time savings aren’t the only benefit gained. Productivity improvements fueled by automation could deliver an AU$2.2 trillion boost to the country’s national income by 2030.

Adopting automation software results in increases in the efficiency and reliability of business processes. If you or your employees are constantly feeling burdened by menial company tasks, these four quick tips will put you on track to enhancing your small business performance with automation.

Cultivate an automation culture

The first step to automation is to build an agile and innovative workplace culture. Leaders, management and team members all need to embrace change and be adaptive to new technologies in order for implementations to succeed. Though the significance of moulding a creative and responsive culture may appear obvious, the perceived implications of automation can generate fears regarding job redundancy and consequently result in employee resistance to change.

Business owners should look to foster a lean culture of continuous improvement. Encourage your team to be efficient and work smart by automating laborious day-to-day tasks. Convey the advantages they will experience – automation allows staff to re-orient their focus to more important activities that cannot be optimised with technology.

Identify the right tasks

Automation solutions exist for almost all purposes, from marketing and web design to payroll and customer service support. However, it’s important to remember that just because you have the opportunity to automate something, doesn’t necessarily mean that you should. Select simple functions that are mundane and repetitive, as opposed to complex activities which may require considerable human expertise. As a broad guideline, any predictable manual tasks that don’t involve unique human input can be automated.

Start small. If you’re new to automation, choose a single and simple process that allows you to experiment and can be easily managed should any implementation issues arise. You might also find that automating one task effectively addresses, influences or eliminates the need for other business processes.

Use tools and software suited to your needs

Many small business professionals often regard automation as an expensive and complicated investment generally restricted to large enterprises. Yet automation doesn’t always have to entail hefty upfront sums on custom or specialised tools, and encompasses any use of technology to free up human capital and other resources by automating previously manual work processes. Nowadays, there is an abundance of solutions on the market specifically tailored to suit small business.

Link4, for instance, was developed to address the invoicing needs of micro, small and medium-sized firms. Automating both accounts receivable and accounts payable enables businesses to send or receive invoices seamlessly through their existing cloud accounting systems, such as Xero or Quickbooks Online. It functions as a simple accounting software add-on that eliminates the need for emails, PDF files, manual data entry or mobile scanning technology. Our Link50 plan is perfect for small businesses to experience the benefits of e-Invoicing, free of charge.

Monitor, analyse and evaluate

Without ongoing monitoring of the outcomes achieved by streamlining your workflow, it’s difficult to gauge your return on investment. This could result in over- or underestimation of the impacts derived from automation, as well as overlooked problems in implementation or team adaptation. Even with careful preparation and selection of automation tools, you could find that the new technology still needs some adjustments or simply isn’t the right fit for your business.

Set specific goals that you can track and evaluate. These could be as simple as reducing the cost of processing incoming invoices by 60 percent. It’s important to know the value that the automation brings to your company in order to measure its success.

In the current competitive and rapidly-evolving small business landscape, automation might just be the key to helping your company stand out from the crowd. If you’ve chosen manual invoice processing as your first automation project, sign up now and enjoy seamless e-Invoicing with Link4. Be proactive – get started with automation today to maximise your productivity and accelerate your business growth!

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Categories
e-Invoice Paperless

Paper Invoicing Is Damaging The Environment: How can e-Invoicing Help?

It has become valuable for businesses to be more aware about the environmental impact their businesses are having. 3 out of 4 Australian businesses believe that good waste management helps to improve public perception of their companies.

“It takes 24 trees to produce 1 tonne of paper” – AustralianScience.com

We all know public perception can have a strong impact on business decisions. Which is why many businesses are becoming more environmentally aware, if not for the environment then the public perception. Even consumers are playing a part in this. As consumers become more aware about environmental concerns, they’re often choosing businesses that are vocal about their green practices.

Recycling and most importantly paper recycling is one of the easiest ways to create a green practice in a business. Considering that last year, 1.9 million tonnes of paper were sent to landfill and that it took 24 trees to produce 1 tonne of paper – the environmental impact of paper is staggering.

Recycling paper should become an integral process for any business and it does alleviate the environmental pollution. However, reducing and removing as much paper usage from your business is the best way to help the environment.

In Australia, over 1 billion invoices are sent and received between businesses. That number of invoices increases dramatically when taking into account B2C invoices.

PDF Invoices: A Good Start In Going Paperless

PDF invoices have survived in the digital world but there are costs associated with PDF invoicing that e-Invoicing does not have. It was found that three out of four electronic invoices consisted of PDF invoices, while PDF invoicing doesn’t meet the true form of e-Invoicing, but it does help to reduce paper waste.

PDF invoices still require staff overhead costs to process and confirm that the invoice data is correct. A large number of businesses will also print and physically store invoices which will require additional storage and printing costs.

We understand that businesses still use PDF invoicing which is why Link4 still provide PDF extraction software to meet a business’ current needs as well as giving them a seamless way to transition to a fully automated process.

While larger organisations implement mandatory e-billing to remove paper from their business processes. SMB’s are trailing behind in improving this aspect. With the high number of invoices being sent and received by Australian businesses – only 10-15% of businesses have adopted e-Invoicing.

Make Paper Invoicing A Thing Of The Past

Practices such as recycling and using PDF invoices have made their mark in helping the environment, however alternatives exist that reduce the environmental impact even further.

With the implementation of the Interoperability Framework by the Digital Business Council, e-Invoicing is beginning to gain strong support in Australia. The Australian Government are closely monitoring the implementation of the e-Invoicing framework so that e-Invoicing can easily become available to SMB’s, enterprises and government departments.

The average office worker uses between 10,000 – 20,000  sheets of A4 paper each year. e-Invoicing can completely remove paper from the invoicing process. Invoice data is automatically extracted and converted into a readable format that is sent directly to your cloud accounting software.

Reducing paper waste is important and you can start by removing paper from your invoicing process.

Read more about the benefits of e-invoicing here.

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Want to help the environment? Sign up for e-Invoicing today!

Categories
e-Invoice

What is e-Invoicing

e-Invoicing is the next area of disruption for small business and many bookkeepers and accountants will be affected within six months. But what is it, who is using it now, what is the government doing and how will you be affected?

Accountants Daily featured this article by our CEO Robin Sands to learn about the future of invoicing today click here: http://bit.ly/what-is-e-Invoicing

Categories
Automation Software

10 Reasons Why SMEs Switch to Cloud Accounting Solutions

The bookkeeping process is necessary for any business. As a small business, it is one of those tasks that takes time and energy away from the revenue-earning aspects of your business. You may take this task on yourself, or you may outsource it. Either way, what can help simplify the process and add more value to the business?

Cloud solutions are making bookkeeping much easier. Adoption of these solutions is increasing rapidly. So here are 10 reasons why businesses choose to use cloud accounting solutions versus traditional desktop versions.

1. Ease of Use
Many vendors focus only on cloud accounting and they are constantly working to make the process simple and easy for the end user. With research and client feedback, the software can be updated and tweaked giving you the simplest way of doing your accounting.

2. Security
Cloud accounting software negates the need for regular backups which are required with traditional desktop systems. Service providers can guarantee that your information is kept safe and secure at all times. Even if your computer is stolen or there is a fire, your data is safe and backed up because it is stored elsewhere. Today’s reality is that your information is more secure on the cloud than at your own premises.

3. Storage Costs
Cloud solutions give you an allocation of storage where you can keep a copy of your documents electronically. No need for physical storage locations, or keeping backups of previous years from PC based accounting systems.

4. Accuracy
Some tasks like manual data entry of invoices, are prone to errors. No matter how many times you have done it, or how good you are, errors do creep in. Cloud solutions allow invoice data to come straight into your accounting system without the need for manual data entry. This makes the Accounts Payable (AP) process a lot more accurate.

5. Flexibility
You can work from anywhere you have internet access with cloud accounting software. You are not restricted to just one computer either. The software is accessible to you in the office, at home, on the go, even while you are on an around the world holiday (not that we recommend bookkeeping while you are relaxing on a foreign beach, but it is possible.)

6. Lower Pricing
There are a great many providers of cloud accounting software, most easily found through a quick Google search. Due to the large number of competitors, you are able to benefit from competitive pricing. And it is a monthly fee rather than a big lump sum upfront.

7. Collaboration
Your Accountant has real-time access to the information. They can quickly answer questions and provide guidance that will help your business.

8. You Have the Latest
Everything is done online, which means you don’t need to install anything. You will always have the latest as updates are done regularly and automatically.

9. Economies of Scale
Due to cloud accounting software being a resource shared by many, there are further benefits to be had, such as automatic updates and the availability of a large server for storage.

10. Integration
Most cloud accounting software can integrate with other cloud-based software solutions, which makes for greater control and flexibility in the Accounts Receivable (AR) process. For example, invoices can be sent directly from your cloud software to your customers cloud software using a solution like Link4, which is a faster and more accurate way to deliver invoices.

There are more benefits which are not listed here, but these are real reasons we have heard as to why business owners have made the switch to cloud accounting. You may discover your benefits too.