The recent coronavirus outbreak in China led millions of workers to a never-before nationwide experience of working from home. During the outbreak, many companies resorted to remote control functions to allow their employees to perform their duties while at home. For business owners, however, managing company operations remotely is a necessity. It does not always entail working from the comfort of home. Business owners and managers who are often out of town need to maintain direct oversight of their company, especially in times of inevitable circumstances.
Have a look at our previous article about How to Improve Oversight of Business Operations
Entrepreneurs on the go, or traveling outside of China, or simply practicing social distancing may find the remote-control set-up very convenient. But how does a business owner achieve this sort of control? Let’s take a look at some company “paperwork” that requires your attention and how you can manage them effectively anywhere, anytime.
3 major paperwork to manage with remote control
An expense report is a list of costs submitted to the employer (or sometimes the client) that details the reimbursable and/or allowable expenses incurred by the preparer (i.e. employee). Employees may inevitably incur expenses when completing certain tasks for the company or client. But that does not mean that they can spend on anything under the sun. Thus, it is important for management and business owners to be able to review these kinds of expenses. Indeed, those who are directly running a company must make sure that funds are spent wisely.
Expense reports not checked properly and regularly may give way to possible corruption and fraud in the company. Since these documents are also maintained for tax purposes, details encoded to your respective accounting system must also be correct.
Suppliers or merchants provide vendor bills to companies for the purchased goods and services. Much like after having dinner at a restaurant, bills from vendors are more likely expected to be paid upfront, and usually immediately. But it is not uncommon for vendors to extend credit to their buyers. Credit purchase is a common business practice especially to establish a good buyer-seller relationship. Moreover, having a reliable and organized supplier list is essential for payables monitoring as well as efficient inventory purchasing. The management personnel must also review and approve charges on the supplier’s bill to ensure accuracy.
Take note that unchecked vendor bills may let slip overcharging, excess, or lacking inventory items or other unauthorized charges. Therefore, businesses are expected to provide proof and the basis of transactions with accurate data input of vendor bills.
An invoice is a time-stamped commercial document that itemizes and records a transaction between a buyer and a seller. The invoice usually specifies the terms of the goods or services purchased on credit. It also provides information on the available methods of payment.
Invoices also need review and approval from the management personnel. However, in a reverse point-of-view, businesses also need to issue invoices that are professional and presentable. Thus, it is beneficial for business owners to be able to customize their invoices the way it fits their clients’ needs. Invoices issued do not require individual monitoring by management but customers and government agencies expect accuracy as they rely on this document for official use or legal matters.
Kwikdroid – a remote control tool for your business
Manage your business on the go with Kwikdroid’s modular apps within the Cloud from anywhere, anytime. Kwikdroid is a Cloud-based accounting and management platform that is secure and fully compliant with Chinese regulations. Thus, it can conveniently cater to entrepreneurs and businesses in China and even on-the-go business owners from anywhere in the world.
Kwikdroid has multiple company functions ranging from creating quotations, managing vendors to generating supplier lists. Furthermore, it sends and receives internal documents, reports, and media with ease. Kwikdroid also eliminates language barriers with its multilingual and multicurrency innovations.
With Kwikdroid, teams situated in China can input data including expense reports, vendor bills, and invoices with just a click away. Besides, foreign managers can review, and approve or reject these in their language of choice remotely, anytime, and anywhere!
Managing vendor bills and invoices
Kwikdroid’s AI and OCR technologies enable accurate input of documents. Just take a picture of your documents such as expenses, vendor bills, and receipts, and the system will automatically fill in the appropriate information. At last, you can save and keep all these documents safe through the Cloud. To be sure, our certified accountants will review expense claims and also approve all appropriate actions. What’s more, the internal chat system will give you a direct line with our accountant to promptly address your queries and concerns.
Chat with your accountant
Technology allows us to deal with paperwork without actually having to submit and receive physical papers. A business owner in China can achieve effective remote control of his or her company by depending on reliable technology that is fully compliant with Chinese laws. Moreover, effective remote control tools such as Kwikdroid helps you achieve transparency, accuracy, and standardization incidentally in the process.
Moving your business to a Cloud-based system such as Kwikdroid gives you the power to be more accurate in managing your reports within China’s stricter rules. Thus, it is a step toward a much safer and more profitable business operation.