Have you ever found yourself confused and frustrated when dealing with bookkeeping? Arguably the most crucial departments in a business, the process needs to be smooth.
Accounting is one of the basics in a business, and certainly one of the most important areas to master if you want to run a successful firm. Checking and analyzing your firm’s financial information can feel daunting, and can bring extra costs and stress. Among business owners, it is one of the most hated tasks! So stop dreading the accounting process, and think seriously about automating your accounting business with some or all of the tasks associated with bookkeeping.
Online accounting software is easily available, cost-effective, and accurate. Many different platforms are able to easily sync to and integrate with your current accounting software, making accounting simple and inexpensive. It’s not meant to replace accountants, but to complement their skills and help them to complete their tasks more quickly. Accountants as well as clients will gain countless advantages when a firm takes on financial automation.
There are many products out there. So how do you know what’s best for your business? Which software will have the most impact on your firm, or save you the most time?
Accounting automation is popular, meaning you can be sure of choosing innovative and efficient software that best matches the needs of your business. It also means you can benefit from competitive pricing and extra features, as the tech industry works to keep up with demand from automated financial tools. Heighten your productivity and give yourself extra time to spend with clients by considering accounting software for yourself.
Feeling stuck? Save time, money, and headaches by learning about the best ways to automate your accounting.
Increase Efficiencies
Automating your accounting will naturally reduce inefficiencies within your business, but by choosing specific software geared towards performance, increasing productivity becomes effortless. Consider the areas of bookkeeping your firm would most benefit from, and choose a software that best matches those needs. Improve overall efficiency by:
- Automate your accounts payables and receivables to improve accuracy
- Improve your budgeting and save money by automating tasks
- Reduce human error and the potential for customer disputes
- Secure your sensitive data with cloud-based accounting services
- Use accounting software to give your staff more time and flexibility to focus on other tasks
Adopt Remote Team Communication
Many of the current accounting apps allow for remote communication between team members. Take advantage of this feature and allow employees and management alike to profit from greater flexibility and ease of use.
- Streamline communication for your team and allow access for time tracking on-the-go
- Automated messaging is included in apps and means your team can be connected from anywhere in the world
- Know where your employees are by utilizing GPS features, as well as to ensure most efficient route times
- One-to-one video calls means easy remote communication
Create Customizable Emails, Forms, and Invoices
Creating sales and purchase forms is another task that can be entirely automated. Look for software that includes features to aid with all of your forms.
- Stop wasting money and paper by automating documents such as invoices and reminders
- Switch from Word to easy and accessible, pre-filled forms for your accounting needs
- Editable and customizable invoices and email reminders mean you can quickly and accurately fill in customer and service information
- Reminder emails are a great feature for chasing overdue invoices. Set and forget to gently prompt clients with outstanding payments
- Embedded payment links allow for quick and easy remittance, and your customers will love them too
Collaborate Documents and Reports
Don’t complicate things by manually revising client documents. Painless data entry is another example of how automation can quickly save hassle and frustration in an easy and accurate manner.
- Use a private cloud-sharing software for file sharing
- Enjoy a significant improvement in the quality of output
- Clients can easily access, view, and sign documents before sending them back digitally
- No need for extra meetings with clients
- Save paper and print costs
Chase Late Payments
Cash flow is crucial when it comes to the smooth running of your firm. If your clients aren’t paying on time, it can seriously hinder your business. Digitizing this piece of accounting is efficient and allows you to maintain important client relationships.
- Import statements and invoices to an accounting app
- Software can flag late payments so that you can take action immediately
- Send automated and staggered payment reminders to clients at specified times
Track Invoices
Online invoicing means getting paid faster. Automate this process to save time and ensure more prompt payments.
- Use these features from any device, from anywhere in the world, at any time of day
- Online payment tools allow for secure and simple payments for your customers
- Automatic data reports are a great way to gain insight
As you can see, the benefits of automating your accounting business are varied. Investing in a system to digitize some of the tasks of bookkeeping is well-worth it when you consider how much your firm has to gain in time, money, and security. Allow yourself and your employees the time to focus on other tasks while automating what you can.
Automation will contribute directly to future business growth. Evolve with the technology in order to retain a competitive edge!
Why wait? Take your invoicing to the next level and automate with Invoice Tracker. Easily integrate with your current accounting software and start benefiting from set-and-forget email reminders which make payments easy. Try our free, 30-day trial. No credit card required.
