Workflow Optimization

To keep your business running smoothly and efficiently, there’s a plethora of regular activities that must be taken care of – and many of these activities are performed across a number of different channels and platforms, both digital and not.

Turning to a variety of business solutions to increase the efficiency of your daily operations is great, but if these disparate software systems cannot be integrated and connected, you will quickly run into trouble. Your Profit Line team is here to make sure all of your business operations are synced and coordinated in a single business workflow so you can work intelligently, efficiently, and cost effectively.

Accounting and bookkeeping and payroll - oh my! When you take a minute to stop and think about your company, it’s amazing to realize how many different operations and responsibilities you are working to address and coordinate to keep your business running smoothly. With so many tasks to accomplish and so little time in the day, you want to find the most efficient and cost effective option for completing those tasks.

As has become a truism in this digital age we live in, whatever you are looking to do - there’s an app for that! Finding products and platforms that can increase productivity and efficiency in your work is great, but if these systems cannot share information, you’ll quickly make your workflow more complex rather than add simplicity.

This is where business workflow optimization comes in, and at Profit Line, we specialize in it. Essentially, business workflow optimization deals with the management and synchronization of your various business processes and the platforms where the various tasks associated with these processes are performed. For example, if you pay bills through Bill.com, you will want this information to be pushed to QuickBooks to update your accounting records. This saves time and reduces the need for additional manual entries, where mistakes are bound to happen. Learn more about the common business solutions that can be coordinated in our Accounting Stack Optimization section.

As a business owner, you likely have a number of business-related accounts - both financial and otherwise - that need to be coordinated so all of your information can be stored safely in one place. Part of our business workflow optimization also deals with the management of all of your external accounts. Our team ensures that all of the necessary information from these accounts is extracted and that any payments or transfers between these accounts are made. Read more about this service in our External Account Integration Optimization section.

ACCOUNTING STACK OPTIMIZATION

As a business owner, you have the advantage of having many business solution platforms to choose from to make your daily operations easier - and in many cases more affordable, too. With so many options, you can create a truly customized accounting workflow that suits the unique needs of your business. The challenge then becomes getting all of your platforms to synchronize so that updates in one area get pushed to the other platforms, thereby reducing work for you and increasing the accuracy of your records.

At Profit Line, many of our clients regularly use a range of accounting and bookkeeping platforms to facilitate the processing and recording of their financial transactions. Our team of expert accountants is well versed in many of the most technologically advanced and widely-used accounting programs available and we regularly research and vet new software so that our clients are always using best in class technology. As a result, we’re well equipped to recommend an accounting stack for you that will benefit your business and your bottom line. As your activity grows or changes, we’ll help you make any needed adjustments to this tech stack to make sure it’s keeping up with your needs.

QuickBooks is the most commonly used software by our clients. The QuickBooks accounting file is the central location where most bookkeeping functions are performed and where financial data and documents are stored. What is more, QuickBooks easily integrates with countless third party applications so you can develop virtually any workflow to match your operations.

We can also build payroll into your accounting stack. Some common payroll processing platforms include ADP, Paychex, Gusto, Justworks, Extensis, and TriNet. Read more about your payroll services in our Payroll Set-Up and Management section.

EXTERNAL ACCOUNT INTEGRATION

Regardless of the size and scope of your business, it is likely that you have multiple accounts where you store assets or engage in financial transactions. Take a moment to think about your business and the types of accounts you maintain. Do you have checking and savings accounts? How about one or more credit cards? As a small or medium sized business, you may have needed additional capital along the way and negotiated a bank loan or a line of credit, which you now need to track and/or pay back. If your business has employees, you’ll likely run payroll, distribute wages, and remit taxes.

With your money and business activity spread across multiple accounts, it’s crucial to integrate all of these accounts so that they communicate with one another and are channeled into a single, comprehensive set of financial records. For the vast majority of our clients, this single set of financial records resides and is managed in QuickBooks. Leveraging this intuitive and advanced platform, our team easily connects your various bank, credit card, loan, and payroll accounts so that your financial transactions are pulled automatically and in real time, allowing the details of these transactions to be properly categorized and recorded in your books. By syncing all of your information in this way, not only will it be easier to catch errors and remember to pay your bills on time, but you will also have a clearer view of your financial position, with all of your various assets and liabilities clearly visible. Such information will make your cash management much stronger and more effective. Not to mention, your books will always be updated should you ever need to pull financial or other business reports in a pinch.

While the main goal of external account integration is to bring all of your various financial transaction data to one place for recording purposes, our team can also manage your individual accounts for you so you have less to worry about on a daily basis. With secure, administrative access to your accounts, our team is able to pull periodic statements to support other bookkeeping functions, make regular payments, run your payroll, and pay your tax liabilities. Through years of experience helping our clients manage their finances, we have developed a method of account integration and management that has demonstrated proven success, with no detail or payment forgotten.

Some of Our Solutions