Category

App Review

Bitcoin Accepted!

By | App Review, bitcoin, Cloud Accounting Option and Reviews, cryptocurrency, Document Management, payment processing, Procedures, ScanSnap

We are often asked what is so different between us and other bookkeeping companies.

From the outside, it would appear that we are all similar. At the end, all bookkeeping companies should be able to provide the same service; providing financial reports, bank reconciliations, payroll service and so on.

Only when we start to dig into the process of how we do things at Books LA, we then are able to make a clear separation from the /most of the/ other companies, and us:

  • We are paperless, which would not be possible with our best friend Hubdoc! Statements (with checks written AND checks deposited), utility bills, service industry bills and statements… All are beautifully auto-fetched buy a bookkeepers best friend Hubdoc!  
  • No one likes receipts. And the fact that most receipts in recent years are produced on a thermal paper only makes recordkeeping more difficult when we stumble upon the old receipt, a cash receipt, forgotten in a car that lost its data completely as it appears to be a piece of a dark-grey-greenish-color paper after being exposed to the Sun… Or the receipt is that is buried somewhere but the ink is barely visible after a year…  We have two solutions:
    • we request that receipts are sent as images, right away. We request the clients to take the phone out, snap a picture of the receipt with a Hubdoc or a Receipt Bank app, and forget about it. The receipt is captured and stored in the cloud! 
    • Use Fujitsu ScanSnap ix500 scanner and scan all receipts. This amazing scanner will capture an image and will send it directly to Hubdoc or other destinations where we can easily retrieve it and use it.
  • We provide access to any required software (QBO or Xero, Hubdoc, Receipt Bank) at no cost to the client. Because it just makes sense for all parties involved.
  • We reconcile our client’s accounts on a weekly basis – regardless of the size.
  • We require once-a-month meeting with a client. Via Zoom!  Why? Because why waste time in traffic when we can share the screen, talk, and record the session if necessary, and provide the tutorials, and do that all while being most productive.  

 

And then, there is another way we are different – we accept Bitcoin!

 

For a while now Quickbooks Online has been offering an option to accept Bitcoin as a form of a payment.  However, it wasn’t until recently that we have actually enabled that option. 

Now, since the technology is new, the allowed daily/yearly limits are still not at the desired level. But the more of us use the option, the faster adoption is bound to happen.   

PaidByCoin enabled in Quickbooks Online

So, when asked why do we accept Bitcoin, here is why :

  • Option is available
  • It’s a form of a payment
  • It is exciting to be an early adopter of the future and what is to come
  • It is exciting to get paid
  • We absolutely understand the risk and a possible reward…
  • Why not?

Accepting a Bitcoin as a form of a payment is just another method of getting paid for our services. Hopefully, in the near future, we will be able to accept the other cryptocurrencies, but that option is up to us – yet!

As of today, the Quickbooks Online has only enabled two payment processors; Coinbase and Bitpay.

Coinbase is currently not accepting new applicants for a merchant account, but BitPay is.

 

Quickbooks Invoice Payment Portal

On the other hand, when paying an invoice sent from Xero, and if the Stripe merchant account is enabled, there is an option to turn-on the ‘Accept Bitcoins’ from within Stripe.  This option is not enabled with Xero, rather through Stripe alone. That option is absolutely fine as well!

Stripe – Payment by Bitcoin Enabled

There are other options to accept Bitcoin as a method of payment, however, those are STILL not fully integrated with Quickbooks Online or Xero yet (unfortunately)

 

 

So next time, when you receive an invoice from Books LA, please remember to never print an invoice ( save a tree, use the cloud), and please pay us via ACH or Bitcoin.

 

 

 

 

It saves time, saves trees, increases productivity, decreases errors… and why not?!

 

 

ScanSnap and Hubdoc are in #LOVE

By | App Review, Cloud Accounting Option and Reviews, Document Management, Procedures, ScanSnap
Hubdoc ScanSnap iX500

ScanSnap iX500 and Hubdoc – are now seamlessly integrated

We received a call today from a potential client; a law firm, looking for a new bookkeeper since their bookkeeper is retiring. Like with any other call, we asked them for the overview and a roadmap of the current process they have with their bookkeeper.

  • Currently using QuickBooks Desktop
  • Bookkeeper is working from their office
  • When she is not, they send her the documents via mail (not email!), she works on the files and send those back to the law office
  • They are using Bill4Time software (yay!) but it’s not currently linked to the QB file

Three years ago, I would have contemplated to take over the same workflow and would have thought that I am doing my clients a favor for not changing their rhythm.

Hubdoc ScanSnap Books LA Integration

Integration between ScanSnap and Hubdoc is what we were waiting for!

Instead, we have talked about what we can now do with the available technology:

  • We can move the company file over to the QuickBooks Online. We like QB Desktop a lot but are supporting QBO and Xero only because:
  • We can work offsite, not using their office space and being way more efficient by not ever being stuck in LA traffic.
  • Because now we can scan the files with one touch to Fujitsu ScanSnap and send it straight to Hubdoc – so no file will ever leave the office, but it would be accessible in cloud and searchable by CTRL+F
  • We would connect the Bill4time directly to QBO for a seamless and easy reporting.

Just a week ago, I wouldn’t be able to recommend this seamless workflow and offer such a convenience that we can offer today. Just a week ago, we used to scan all our documents to ScanSnap Cloud and then drag+drop the documents to Hubdoc. Now that has changed since ScanSnap and Hubdoc are in LOVE!

ScanSnap: We love our ScanSnap iX500!

A few months ago, we posted a blog on our website with a story of moving our entire HON 4 drawer lateral file cabinet to the cloud. Just imagine how much easier the life would be if you could search all your files with CRTL+F = ALL! Well, we can! And it’s an amazing time saver!

Yes, scanning the files with a regular scanner might seem like a good idea. However, scanning with a regular scanner will make your files readable. But could those files talk as well? No!

Using the ScanSnap scanner your files will talk! Yes, talk! With many, many programs and tools that are accessible now. How? Well, ABBYY USA Technology is now part of the Fujitsu ScanSnap

So files are scanned perfectly – regardless of the shape and size, and are easy to read!

Hubdoc: We love Hubdoc!

Hubdoc ScanSnap TOP 50 Books LA

Books LA was included in this prestigious list for the second year in the row

It is not a secret that we LOVE Hubdoc! Books LA is a hard-core fan, groupie even, of a Hubdoc. Besides the fact that the whole Hubdoc team is probably the best there is, with a super friendly and knowledgeable staff who are always super happy to help, Hubdoc SOLVED our problems

Since January 2015 using Hubdoc became a requirement for any of our clients.

If things could get better – they sure did!

 

Last week it was announced a ScanSnap and Hubdoc integration! AND IT’S A MUSIC TO OUR BOOKKEEPERS EARS!

 

ScanSnap is the best scanner out there: Review of ScanSnap at Lawyerist.com 

ScanSnap + Hubdoc = #LOVE

That law office client that called today, we can simplify the workflow.

By having a ScanSnap scanner, they can easily scan all the necessary documents over to Hubdoc – DIRECTLY! Because the scan quality is superb, the Hubdoc can easily OCR the whole document, and easily extract the name, date, amount, type… And Hubdoc will file the document in the appropriate folder; one vendor- one folder.

 

From Hubdoc we can easily ‘push’ the documents over to QBO or Xero. That way we can attach the PDF, .jpg to a transaction and have the backup readily available in the QBO or Xero, and email the backup along with the invoice.

And it’s that simple!

With ScanSnap scanners your documents will talk + Hubdoc will listen and understand = jointly both will seamlessly communicate with your accounting software ( Quickbooks Online, Xero, Sage. Intacct..)

This is a marriage made in heaven!

 

Setup is super easy!

 

Step One: During the Setup select Hubdoc from the offered cloud storage options

 

 

 

 

Step Two: Login to Hubdoc with your credentials

 

 

 

 

 Step Three: CONNECTED!

 

#Done!

 

 

What is Hubdoc? Why Hubdoc? And why are we so excited to be a part of their prestigious list?

By | App Review, Cloud Accounting Option and Reviews, Document Management

Hubdoc

For the past year we have been praising Hubdoc and thanking them for existing every step of the way. Chances are, if your company hired Books LA for your bookkeeping needs, you most likely know what Hubdoc is and how is it benefiting your business.

Hubdoc became a part of the everyday workflow and frankly, we don’t see that changing any time soon!

So, you might ask why Hubdoc and why are we so excited to be a part of the awesome group of TOP 50 accounting and bookkeeping practices for 2015 … well, here are few reasons why we LOVE HUBDOC and why have we made this great app A MUST in our bookkeeping process:

  • Instead of logging in into your bank and pulling one by one PDF of the bank statements, then going back and searching for the check, clicking on images and pulling the PDF to send it over to your bookkeeper.. or pulling the deposit images and checks and saving those by the date and not by the funky long string file name, or figuring it out how to name the file… Then sending the documents via email (please don’t) or sharing them over Google Drive, Dropbox, Box where its still very hard to sort them out…

Solution: Log into the Hubdoc, click on the account linked in Hubdoc sorted by the last 4 digits, click on the sub folder called checks, deposits, statements… All PDFs are there, in order, by date, just images.. and ready for viewing with just one click. Done!

  • Let’s say you are looking for an invoice for a purchase made through Amazon more then a few months ago. Or there is a Uber receipt that you would like to find, but there are so may of them and now its hard to filter them out. Or maybe there is a cell phone bill you would like to see. Well, most likely you would log in to the site in question, go through the recent purchases and receipts, try to locate the one, save as PDF and send it to the bookkeeper, or forward via email.

Solution: Log into the Hubdoc, link the Amazon’s, Uber’s… chances are, if you have a user name and password for the account, the accounts will link into Hubdoc. If the account is not yet available to be linked (recently I haven’t found one yet, but there still are few), let Hubdoc’s awesome support know which one account is missing and they will work on it to bring the account over. They are just awesome like that!

  • Let’s say you have  cash receipt for a parking, or have a restaurant receipt that you accidentally used personal account for. So usually you would have kept the receipt in your car for a long time, and the chances are the ink will fade or you will forget who where you with at the lunch or what was it for?

Solution: Open up a Hubdoc app, snap a picture of the receipt (maybe even write down a name of the business contact of the lunch or confirm the dollar amount for the parking that isn’t maybe that visible) an the receipt is there – accounted for!

Those are just few tips, and we didn’t even touch  how Hubdoc can push the PDF copies (backup) over to QBO or Xero.

The Hubdoc cost is just $20/month, but we gladly include a Hubdoc subscription for our Simple and Full level clients.

 

You Books LA Team