Accounting is like put together a puzzle. You need to assemble a bunch of different pieces to get a complete and beautiful picture of your business. The puzzle certainly should be set team up with your colleagues, partners and customers.
Activity Stream is an information flow that is formed with records of current business processes, including sales, purchases and payments. The records are kept for the last 90 days.
An Activity Stream is formed by recording along all companies with which a user works.
Activity Stream reflects not only the document created, but also that its status has been changed, e.g. for invoice from "waiting for payment" to "paid". As for money, Activity Stream keeps track of all deposits and withdrawals on your accounts.
Activity Stream provides the following benefits:
The first is a quick overview of the clients' and colleagues' latest activities, which helps you improve the efficiency of document processing and ensures high quality accounting services.
Secondly, feed monitoring gives an indication of document processing frequency and accounting information issuance, which helps you plan your time better and distribute the workload among your colleagues.
Thirdly, Activity Stream helps to ensure control over performance of tasks and assignments. It reduces the downtime and ensures that all the documents are processed continuously.
The manager will have a flow of up-to-date information not only to keep an eye on what is going on, but to supervise the fulfillment of the assigned tasks.
The Activity Stream also allows clients to be constantly aware of an accountant's work. This is a good advantage, as the client always knows the stage of company data processing, and what period the accounting data is valid for. Thus such an approach brings harmony to the relationship between an outside accountant and his customer.
It’s important for the client to have access to the work results of an outside accountant in a simple form, not in the form of accounting entries.
And one more thing, there is a weekly digest in an Activity Stream. It provides weekly summary of the key business indicators.