With almost 30 years of experience in the accounting and finance field, Ratanak Lok has a strong foundation in the industry. After two decades as a Head of Finance in the hotel industry, Ratanak recently launched his own bookkeeping and accounting company, Goodville Business Consulting Co. in Cambodia. As a new business, Ratanak immediately saw the potential of cloud-based accounting to help his firm and its clients.
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ACCOUNTANT SPOTLIGHT
Introducing Ratanak
Lok
Discover how QuickBooks helped transform his accounting practice, empowering him to streamline operations, advise clients, and embrace cloud-based finance.
The practice and the vision
The strategic switch to QuickBooks
Before starting his company, Ratanak had exposure to various accounting systems, including a large enterprise solution that was common in the hotel industry. He also observed that many small businesses in Cambodia were using cracked, unlicensed desktop versions of accounting softwares, which presented a significant risk of data loss.
To address this, Ratanak made it a point to convince his clients to switch to QuickBooks Online, emphasising the benefits of a cloud-based platform. For him, a key reason for choosing QuickBooks was its accessibility and ease of use, which was a vast improvement over his previous systems.
The best thing with QuickBooks is that we can check everything on the app. The previous systems I used don’t have the app.
Why Ratanak chose QuickBooks
Seamless client onboarding
For Ratanak, the move to QuickBooks Online Accountant wasn't a major challenge. His team successfully transitioned their clients to QuickBooks after one training course, and now they use it with no issues.
The QuickBooks impact and tangible benefits
Ratanak has found that using QuickBooks Online Accountant has improved his team's workflow and efficiency. He especially appreciates the modern features that have streamlined their work, like the ability to upload multiple transactions at once.
I love that I can upload [multiple] transactions without the need to key them in one-by-one.
For his bookkeeping company's needs, Ratanak noted that QuickBooks is excellent overall. He also praised the customer service, calling it "very excellent, very fast response," and giving it a "10 out of 10."
Future-proofing the practice
Ratanak sees a significant change coming to the accounting industry in Cambodia. Currently, the law doesn't require small companies to keep proper accounting records, but Ratanak is confident this will change. He predicts that in the next five to ten years, all businesses, regardless of size, will need to maintain proper financial records. When this happens, he foresees a boom in demand for bookkeeping services and cloud-based software like QuickBooks.
As a QuickBooks ProAdvisor and an advocate for modern accounting practices, Ratanak is excited about the possibility of representing the QuickBooks brand and sharing his knowledge at industry events.
Ratanak Lok
Managing Director
Goodville Business Consulting Co.
Ratanak Lok is the Managing Director of Goodville Business Consulting Co. in Cambodia. He is an accounting professional with almost two decades of experience, primarily serving as a head of finance in the hotel industry. Ratanak recently founded his own bookkeeping and accounting company, which currently manages around 10 clients. He is a strong advocate for cloud-based accounting solutions and has been instrumental in transitioning his clients from traditional software to QuickBooks Online.
Hear from other accountants
Hear from other accountants
“I like QuickBooks because it's user friendly, it's accurate, and it's safe.”
Cecilia Tong – Singapore
Director (JJ Trusted Services)
QuickBooks Pro Advisor
Director (JJ Trusted Services)
QuickBooks Pro Advisor
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