Top 5 Reasons To Use Automated Bookkeeping

Ajay Singh

Top 5 Reasons To Use Automated Bookkeeping

Most businesses started with manual bookkeeping. Before the internet comes in, accounting and bookkeeping were done using pen and paper. Accountants and bookkeepers had to write down the transactions on a sheet of paper and manually calculate the result of each purchase and sale. When technology was invented, a lot of businesses became efficient. Thanks to artificial intelligence, small, medium, and big enterprises could save their costs and other expenses related to accounting.

If you haven’t integrated automated bookkeeping into your business process, here are the top 5 reasons why automated bookkeeping is worth the money.

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1. Saves time and money

The ultimate reason why almost all businesses embrace automated bookkeeping is that it saves time and money. Imagine using manual bookkeeping despite technological advancements. You would need a bookkeeper to record and account for all business transactions, pens and paper to use for the record, storage to keep your files, and additional security for the safety of your physical documents. There would be monthly costs for keeping these things in your business.

But, if you choose to integrate automated bookkeeping, you will only spend one time on the software, which you can use for years. It saves you from spending on a full-time bookkeeper. You won’t have to purchase pens and paper anymore. You can store your documents electronically, which keeps you from paying physical storage fees.

You can also save time by using automated bookkeeping. How? By just inputting your transactions, the software can already do the work from there, such as computing the total purchases, sales, and profit. You can also use financial report templates, which means you don’t have to start from scratch. By saving time, you can focus on the core aspects of your business, such as marketing and operation.

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When was the last time you enjoyed manually entering hundreds of records in your bookkeeping software? The problem starts to become apparent as it grows and has to process thousands of invoices and bills each month. The process consumes vital time that could be utilized elsewhere and there’s always the risk of human error. We already use OCR every day as Google has baked this feature into Google Lens and Google Photos apps. You can then sort, share or integrate the content with other software according to your needs.

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Introduction to Automation of Finance and Accounting with RPAAutomation through Robotic Process Automation (RPA) may be the answer. With RPA, you can create a digital workforce that will support your finance and accounting operations. Best Practices for Deploying a Digital WorkforceTo stay competitive, companies need to create a digital workforce. Creating a Digital Workforce with RPA is an effective way to support finance and accounting processes. Creating a digital workforce through RPA solutions brings numerous advantages to finance departments and organizations as a whole.

Business, Finance, Accounting Software & Bookeeping Service

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Multiple surveys on consumer psyche and behaviour state that around 70% of customers tend to make repeat purchases when they get satisfied with the products and the apt customer support services of the brands. Therefore, companies, especially the ones which have global customers living in diverse time zones, are required to make their customer service team/s available 24×7, so that no customers get unattended. Besides, companies which do not practice cross-border trade also need to offer round-the-clock customer support services these days. This is because the constantly-changing work culture, lifestyle and priorities of people all over the world have created the need for 24-hours customer support services. If not solved on time, the customer might order through a different app the next time, as there are multiple options out there.

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Make sure that they're paid the right amount, with the correct deductions, EVERY SINGLE PAY PERIOD!It's no less crucial for a successful enterprise than it is for an army.Now the Payroll Process isn't that complicated, but it's time-consuming and tedious work that no one wants to do- unless that's your job!

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