While attending a local networking meetup I had a great chat with a bookkeeping business owner and she asked me this question, Is Easy Trace a bookkeeping service competing against other book keeping businesses? And my answer was “No”. Easy Trace is a receipt tracking solution, not a bookkeeping service.
I thought it would be good idea to write about it and explain how Easy Trace works great along side existing bookkeeping services and accountancy practices.
Easy Trace is a cloud based service that makes it easier for small and medium business to record their receipts, take an example of small businesses with 1-10 staff in the service industry, each staff member purchases tools, pays for parking or has a client meeting and pays for lunch. In most cases staff keep the receipts and when they return to the office, either give it to somebody for data entry or request for reimbursement by filling out a form and attaching all the receipts.
Later on a bookkeeper or an accountant enters these expenses into an accounting package and transfers the amount to the staff member.
The advantage of using Easy Trace in this case would be that each staff member just takes a photo of their receipts when they make a purchase and later on download an expense report with a single click or nothing to do if the organisation is shared with a bookkeeper.
In this case we still need a bookkeeper to import the expense report to an accounting package but instead of going through a pile of receipts, it is now in a digital format (an excel file) and can be dealt with ease. On the other hand the staff member does not have to fill out any forms, he would just take a photo of the receipt and forget about the rest. A clear productivity benefit.
In brief, Easy Trace helps the bookkeeper to deal with digitalised data instead of paper receipts, again a clear productivity gain and this way they are able to handle more business and offer great value to their clients.