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Category: Workflow Optimization

  • From Meeting Notes to Action. A Real Workflow Example

    Meetings often end with scattered notes and missed follow-ups. But it doesn’t have to be that way.

    Here’s how one small business improved its meeting process using built-in tools and a few simple changes.

    Old Way:

    • Manual note-taking
    • Action items emailed later
    • Decisions buried in long notes

    New Way:

    • Teams generates a summary and action list
    • Organizer reviews and posts notes immediately
    • Tasks are sent automatically via Power Automate
    • Decisions are tagged for easy reference

    Why It Matters:

    This small shift saved time, improved clarity, and reduced missed tasks. It’s a great example of how tools, people, and process can work together.

    Want to see the before-and-after?

    Read the full article here for a full walkthrough.

  • Take Your Business to the Next Level with 5 New Features from QuickBooks Online

    Take Your Business to the Next Level with 5 New Features from QuickBooks Online

    In the fast-paced business world, efficiency and productivity are key to success. As a small business leader, you understand the importance of leveraging technology to streamline operations and maximize resources. 

    Five New Features in QuickBooks Online for Growing Businesses

    QuickBooks Online Advanced is one such tool that has proven to be a game-changer for many businesses. 

    Here are five new features in QuickBooks Online Advanced that can help take your business to the next level:

    1. Multi-company and multi-currency
    2. Customizable roles
    3. Fixed assets management
    4. Approvals/automation/workflow
    5. Custom dashboard

    Multi-Company or Multi-Currency

    Whether through acquisition or global reach, growing just got a lot easier.

    With QBO Advanced, you can easily switch back and forth between companies using the settings gear. Even better, you can combine data from multiple companies in one report.

    For businesses that operate internationally, QBO now supports multiple currencies. You can easily manage transactions in different currencies without worrying about conversion rates or exchange fees.

    Customizable Roles

    QBO now offers more built-in roles and allows for custom roles when the existing ones don’t meet your needs. Some new built-in roles include HR Manager for running payroll and Assistant Bookkeeper for handling AR and AP transaction entry. 

    You can also limit which reports someone can view, ensuring that sensitive information is only accessible to those who need it.

    Fixed Assets Management

    QBO has introduced several features that now allow you to track fixed assets and their depreciation schedule within the app, eliminating the need for a separate spreadsheet.

    Key capabilities include adding fixed assets to the register directly from transactions, support for non-depreciable and fully depreciated assets, asset disposal support, CSV import, and report export. 

    You no longer have to waste time with manual entry. QBO Advanced creates automatic monthly depreciation and comprehensive reports. When you look at the asset online, you can see the depreciation schedule for that asset.

    Approvals/Automation/Workflow

    QBO now supports multi-user sequencing approvals, from clerk to financial lead to CFO to owner. Posting to the General Ledger happens on approval, not while waiting for approval. Printing and emailing are blocked until the approver approves the transaction. 

    There’s also a detailed audit log, run history, and the ability to comment on rejections. Approval workflows enforce compliance with organizational policy, systemize internal stakeholder sign-offs, prevent user error, reduce the time spent back and forth to gain approval, and mitigate fraud risks.

    Custom Dashboard

    With QBO, you can create your custom dashboard with up to 25 charts. 

    Custom dashboards allow you to visualize your data in a way that makes sense for your business and helps you make informed decisions.

    In Conclusion

    QuickBooks Online Advanced is more than just an accounting tool. 

    It’s a comprehensive business solution to streamline operations, improve financial management, and drive growth. With features like multi-company reporting, multi-currency support, customizable roles, fixed assets management, approvals automation, and custom dashboards, it’s equipped to handle the complexities of a growing business.

    As a small business leader, leveraging these features can help you focus on what you do best: growing your business. Business efficiency is not just about doing things right; it’s about doing the right things. And QuickBooks Online Advanced helps do just that.

  • Implicit Errors in Your Books: A Guide for Small Business Leaders

    Implicit Errors in Your Books: A Guide for Small Business Leaders

    In the realm of software development, an implicit error is an error that is occurring, but you don’t know it. You think everything is fine and make decisions based on the reports, but they are not telling the real story. 

    This issue can be catastrophic when applied to the financial statements of a small business. Implicit errors in your books can cause you to make decisions based on inaccurate information.

    What Is an Implicit Error?

    As a small business owner, you make any number of important decisions daily, and most of them are at least partially dependent on your business’s current financial standing.

    Your financial statements must be as accurate as possible, and you should audit your books regularly for implicit errors. 

    There are two types of implicit errors: logical and semantic.

    Logical Errors

    Logical errors occur when the code runs, and no error messages occur. However, the output is not what you expected. 

    When you translate this to business leadership, you read reports showing everything is okay. You look at the Profit and Loss (P&L) statement, and the net income looks great. You look at expenses, and they are lower than expected. All seems good, right?

    But first, you have to check your balance sheet. Do you have any assets on the books that don’t exist? Perhaps inventory isn’t in the warehouse, or worse yet, you don’t have a warehouse, but you have been booking some of your purchases to inventory without consuming them as expenses on your P&L.

    Semantic Errors

    Semantic errors occur when you are syntactically correct – using the right grammar, but the meaning is off. In the case of accounting, this may mean that you booked a transaction, but not to the correct account.

    For example, a customer overpays and then you book a credit memo even though the overpayment is already represented in the books. Or you create an adjusting entry but reverse the credit and debit. Or you book the payment of sales tax or insurance to an expense account even though the liability is sitting on the balance sheet to be paid.

    Identifying Implicit Errors in Your Books

    What can you check for to identify these errors that could be causing you to fly blind? 

    Here are three steps you can take to identify implicit errors in your accounting:

    1. Gut check 
    2. Bank check
    3. Financial check

    Gut Check

    The first step to identifying an implicit error in your accounting is to look for any anomalies in your Profit and Loss (P&L) and Balance Sheet:

    • Run the P&L for a series of periods (such as 13 months). Are there any unexpected variations from month to month along any of the line items? Some accounts to pay extra close attention to accounts that are relatively consistent month to month, like payroll and utilities.
    • Run the Balance Sheet. Are there any unexpected values? If the Inventory account has a value, does that match the amount of inventory you own? Do your sales tax, insurance, and other monthly accruals approximate the monthly value of those expenses?

    Bank Check

    The next step is to ensure that the transactions in your bank accounts match those on your bank statements:

    • Match transactions – Do the transactions in your accounting software match the transactions on your bank statements?
    • Check each bank account reconciliation – Are there any unreconciled transactions from prior periods?

    Financial check

    Finally, compare your P&L and Balance Sheet, looking for discrepancies between the two.

    In conclusion

    By taking these steps, you can identify any implicit errors in your books and ensure you have the information you need to make informed decisions and guide your business toward success.

    Don’t let implicit errors in your books keep you from achieving your business goals. We specialize in workflow optimization and can provide the professional services you need to streamline your processes and improve your bottom line. 

    Contact us today to learn how we can help you prepare for year-end and set your business up for success in the coming year. Let’s make your business the best it can be, together!

  • MSP Contracts to Avoid in 2024: The Importance of Cybersecurity and Workflow Optimization

    MSP Contracts to Avoid in 2024: The Importance of Cybersecurity and Workflow Optimization

    In the ever-evolving landscape of technology, Small and Midsize Businesses (SMBs) are witnessing a significant shift in IT needs. 

    With the need for support and maintenance rapidly declining, SMBs positioned for the future are investing far fewer dollars in MSP-provided infrastructure services and reallocating that investment to workflow optimization and cyber security – both of which rely heavily on AI. 

    This article aims to guide SMB leaders in allocating their IT investment for the most value in 2024.

    The Original Need for Managed Services

    The traditional managed services model emerged in the early 2000s when operating systems were prone to unexpectedly shutting down or “blue screening.” At the time, businesses with as few as five employees like had an exchange server for email and file servers in their offices with substantial resources allocated to keep systems up and running. 

    Managed Service Providers (MSPs) automated and standardized the maintenance of these environments, creating a win-win for the small business to have stability for the technical infrastructure and for the MSP to have a profitable business providing that much-needed service.

    Decline in the Need for Managed Services

    Several factors have significantly reduced the need for Infrastructure Managed Services, including:

    • Cloud Software as a Service – Complex Servers like Exchange for Email and SharePoint for File Sharing and Collaboration are now hosted and managed by Microsoft in the Cloud. No more patching these servers on “Patch-Tuesday” and hoping they run Wednesday morning.
    • Windows 11 Stabilization – Microsoft has been working on significant stability improvements for Windows 11, which could lead to fewer system issues and lessen the need for IT support.
    • Helpdesk Automation and Self-Service – Numerous factors have empowered end users to quickly resolve far more problems independently. Just some of these are vendor-curated knowledgebases, advances in search engines, ready-access to media libraries that are content reach with how-to’s such as YouTube, and now AI’s reasoning engine and large language model are readily accessible via tools like ChatGPT and Bing.com/Chat.

    IT Spend is Still Critical

    While these factors may reduce the need for traditional managed services, they don’t eliminate the need for IT Services. Cybersecurity, workflow optimization, and other IT needs remain critical.

    Rise in Cyberthreats and Protections

    In “Harry Potter and the Half-Blood Prince,” the British Prime Minister converses with the Minister for Magic. The British Prime Minister, overwhelmed by the gravity of the situation and the threat Voldemort poses, exclaims, “But you’re wizards! You can do magic! Surely you can sort out — well — anything!” In response, the Minister for Magic, Cornelius Fudge, says, “The trouble is, the other side can do magic too, Prime Minister.”

    This is like our challenge with Artificial Intelligence (AI). It can be a great way to protect, but the hackers also have access to AI to attack. Threats are rapidly changing, and organizations must continue up their defenses.

    In response to this escalating struggle, SMB IT investment in cybersecurity is increasing. About a fifth of the IT budget is dedicated to security. 47% of SMBs planned to invest in cyber security risk mitigation in 2023.

    A primary driver for Cybersecurity capabilities is Cybersecurity Insurance. Rates and coverage are often affected by ongoing security policies in the software, MFA, anti-phishing testing and training, business-grade cloud VPN, third-party backups, and EDR.

    Workflow Optimization and AI

    Workflow optimization involves streamlining processes within your organization to increase efficiency and productivity. This can involve everything from automating repetitive tasks to implementing new software that helps manage workflows more effectively. In 2021, two-thirds of SMBs said automation allowed them to compete with larger companies.

    Some of the more common workflow optimizations we have designed and built for our customers are:

    • Task Creation – This keeps the team on the same page regarding which tasks have been completed and which still need to be done. Examples include the referral qualification process and invoice collection processes.
    • Template Creation – This standardizes document management. Examples include creating folders and subfolders to reflect process lifecycle steps along with standard Excel and Word templates for each step. Templates are implemented in all areas of the organization, including sales, operations, and back office.
    • Alerts – These are triggered when tasks are late or neglected. Examples include opportunities without defined next steps, support cases without activity in the past 24 hours, and accounts without account management activity in the past 90 days.

    Rethinking Long-Term Contracts

    Long-term contracts are not in the best interest of SMBs. 

    MSPS and software publishers often strive for high-margin profitability in the later years of their contracts. 

    However, as technology continues to change, it is critical to have the flexibility to shift that IT spend from maintenance of older stabilized technologies to critical newer strategic innovation, such as workflow optimization. These require short-term annual or even month-to-month agreements.

    In Conclusion

    The landscape of IT for SMBs is changing rapidly. 

    While annual or even 3-year managed services and help desk support were once the primary focus of IT spending, the trend has shifted away from these as they are not needed as much, and they are not flexible enough to face the rapidly changing world we are in today.

    Instead, invest in a strong SAAS foundation managed by the software publisher (e.g., Microsoft 365 Business Premium, QuickBooksOnline). Take those savings and invest them in critical areas today – cybersecurity and workflow optimization. 

    By understanding these trends and adapting accordingly, you can ensure that your organization is in a good position for the future.

  • Six New Features in QuickBooks Online for Growing Businesses ( Cloned )

    Six New Features in QuickBooks Online for Growing Businesses

    In the fast-paced business world, efficiency and productivity are key to success. As a small business leader, you understand the importance of leveraging technology to streamline operations and maximize resources. QuickBooks Online Advanced is one such tool that has proven to be a game-changer for many businesses. In this blog post, we’ll explore six new features in QuickBooks Online Advanced that can help take your business to the next level.

    1. Multi-Company and Multi-Currency

    Whether through acquisition or global reach, growing just got a lot easier.

    With QBO Advanced, you can easily switch back and forth between companies using the settings gear. Even better, you can combine data from multiple companies in one report.

    For businesses that operate internationally, QBO now supports multiple currencies. You can easily manage transactions in different currencies without worrying about conversion rates or exchange fees.

    1. Customizable Roles

    QBO now offers more built-in roles and allows for custom roles when the existing ones don’t meet your needs. Some new built-in roles include HR Manager for running payroll and Assistant Bookkeeper for handling AR and AP transaction entry. You can also limit which reports someone can view, ensuring that sensitive information is only accessible to those who need it.

    1. Fixed Assets Management

    QBO has introduced several features to eliminate the need to track fixed assets and their depreciation schedule in a separate Excel spreadsheet. Key capabilities include adding fixed assets to the register directly from transactions, support for non-depreciable and fully depreciated assets, asset disposal support, CSV import, and report export. No longer waste time with manual entry. QBO Advanced creates automatic monthly depreciation and comprehensive reports. When you look at the asset online, you can see the depreciation schedule for that asset.

    1. Approvals/Automation/Workflow

    QBO now supports multi-user sequencing approvals, from clerk to financial lead to CFO to owner. Posting to the GL happens on approval, not while waiting for approval. Printing and emailing are blocked until the approver approves the transaction. There’s also a detailed audit log, run history, and the ability to comment on rejections. Approval workflows enforces compliance with organizational policy, systemize internal stakeholder sign-offs, prevent user error, reduce the time spent back and forth to gain approval, and mitigate fraud risks.

    1. Custom Dashboard

    With QBO, you can create your custom dashboard with up to 25 charts. Custom dashboards allow you to visualize your data in a way that makes sense for your business and helps you make informed decisions.

    In conclusion, QuickBooks Online Advanced is more than just an accounting tool. It’s a comprehensive business solution to streamline operations, improve financial management, and drive growth. With features like multi-company reporting, multi-currency support, customizable roles, fixed assets management, approvals automation, and custom dashboards, it’s equipped to handle the complexities of a growing business. As a small business leader, leveraging these features can help you focus on what you do best: growing your business. In business, efficiency is not just about doing things right; it’s about doing the right things. And QuickBooks Online Advanced helps do just that.

  • Streamlining Communication with Microsoft Teams: Our Approach

    Streamlining Communication with Microsoft Teams: Our Approach

    Here at TechHouse, we consider ourselves experts in making remote-only offices work — after all, we’ve been remote from the beginning!

    Over the years, we’ve discovered that Microsoft Teams can significantly enhance internal communication when used effectively:

    • For immediate attention – we prefer a call on Teams
    • For urgent matters – a message on Teams works best
    • For non-urgent issues – an email suffices

    These guidelines help us maintain a balance between addressing immediate needs and focusing on ongoing projects, ensuring optimal productivity.

    Organizing Contacts by Skill

    We’ve found it beneficial to organize contacts by skill rather than by department. This approach allows us to efficiently address specific needs.

    However, it’s crucial to manage the creation of new Teams to prevent confusion and maintain effective collaboration.

    Prioritizing Work-Life Balance

    At TechHouse, we understand the importance of balancing professional commitments with personal responsibilities. That’s why we appreciate the flexibility offered by Microsoft Teams.

    With Teams on their mobile devices, our team members can participate in meetings from anywhere, providing them with the flexibility they need.

    Embracing Flexibility with Microsoft Teams

    Being confined to a desk all day isn’t conducive to productivity or job satisfaction. If your tech guidelines are creating rigidity, it might be time to reconsider.

    Introducing flexibility can foster trust within your team, leading to a more harmonious and productive work environment.

    Investing in technology like Microsoft Teams that empowers your team to work in a way that suits them best could be a game-changer for your organization.

    Ready to optimize your use of Microsoft Teams? Contact us today for more insights!