What are Online Accounting and Bookkeeping Services?
Online accounting and bookkeeping services differ from traditional accounting and bookkeeping services primarily in the manner by which information is transmitted between the business owner and the CPA. The online format uses the internet to transfer the information, as opposed to less efficient means such as mail, courier, or physical delivery of the documents. How does it work? There are many variations in the degree to which bookkeeping services are provided. Such differences usually exist depending on the needs of the business owner. However, the online relationship is usually handled in the following manner: • Client scans source documents (i.e. invoices, credit card statements, deposit slips) using a scanner. The files are saved in a specified directory on the client’s computer (can also be e-mailed). • CPA accesses the saved files and uses the source documents to process electronic payments (via online banking) and record information in the accounting software. • CPA reviews and
