How Accounting Automation Can Help Accountants and SMBs

We exist in an era of digitization and automation. Automation is gradually crawling in and establishing its rein in almost every industry today. It is a way to ease your redundant tasks, paving you more space for analysis and other stuff. So, if you are still leaning on ledgers and Excel, and hesitant to take your first step of automation in accounting, scroll down to be in the know.

Why you should take up accounting automation

A Quick History

Advancements are not new to accounting. Tracing back the origin of advancements in the accounting industry, we will have to remember the calculators. Calculators pulled in a massive revolution in accounting in the abacus era.

And after a few decades, Apple lightened up the industry by introducing spreadsheets as VisiCalc, which later inspired Microsoft to craft Excel. Excel still stands out as the unanimously reliant spreadsheet for accounting chores.

As time rolls on, both accounting and automation venture into new advancements as a part of their evolution. The way accounting worked a decade ago is entirely different from the way it works now. All credits to technology and automation.

Automation has always been a marvel, leaving people stunned, in the beginning. But will be an inevitable part of their life after a decade. So if you are still reliant on your primitive practices, you may miss out on many new features up in the trend that makes your work and life way easier.

Recent Trends in Accounting

Manual data entry in accounting is slowing fading out of fashion. In the recent trend, automation in accounting industry is the boon, as it has got a lot of gears up, much more than what accounting software conceives. 

The essence of accounting automation is to wipe off redundant manual labour to the maximum and to synthesis precise data in the minimal time possible.

 Most CPAs and accountants take up automation for their accounting nowadays as it eases their work to a great extent.

7 Excellent Benefits of Accounting Automation

If some sort of dilemma still hovers your mind whether to embrace accounting automation or not, here are some great insights on the benefits of automation in accounting.

Automation is fast

The purpose of the origin of computers was to steadfast the number crunching. In due course of technological advancements, today, the software performs like supercomputers, especially in accounting. Automation software can accomplish complex tasks in minutes that usually takes several hours or even days to resolve manually.

Tasks that are ardent and irksome like tax charting, payroll processing and report generation are made easy these days with accounting automation.

All that you are supposed to do with automation accounting is to harness the tools that you have and leave your data to the automation, for it takes care of all the accounting.

So, if your employees have been using the tools right, it saves you hours and hours, especially in times of financial closings.

Improved Accuracy

However experienced and vigilant the data entry person may be, there is always room for errors in manual accounting. Trivial errors like the wrong entry of values or leaving out a column can inflict your reports to a great extent. A lot of the time, accountants sit with their records at the time of tax preparation or year ends fumbling with their records. They go on a stretchy scrutiny to locate the elusive error.

But accounting automation will redeem you from the errors. Accounting software conducts a screening before it lets you glide in your data for accounting. It makes sure that you don’t miss any columns or value. There is zero possibility for errors. Error-free values in your reports add a lot to the reliability of your reports.

Instant Data Retrieval

Long gone are days of gushing into the ledger rooms and rummaging the files during the financial endings. With automation in accounting, you shall pick up any file at any time from anywhere. You need not rely upon the availability of any person responsible for records. You can just type in, search and pick the files you want in a breeze.

Fortified File Storage

You will have to stock your records for certain years according to the rules of your government. It is not always fortunate when the reports are preserved intact in papers and ledgers. It is not even suggestive to preserve crucial data in Excel. It is always a risk to keep your data out open when your business highly leans on data.

But with automation, you will have your data perpetually conserved in the software until you choose to destroy them. 

Cloud Storage for Remote and Multiple Access

With cloud storage, you are enabled to access and work with your data remotely, without being physically present at your office. Moreover, you can give access to multiple users at a time with cloud storage.

After this Covid-19 pandemic, most of the offices prefer to stretch on their work from home phase for many reasons. So, accounting software with cloud storage will greatly help if you are working from home, or if you have several branches. Also, with cloud storage, you can retrieve your data in case of any accidental loss.

Easy Integration

To enable complete automation, you may have to employ integrations with other tools. This will put you in a place where you may not need even a single click to move your data and transactions after the installation. Advanced automation tools will do the interactions with the data on its own and give you what you want to know as the result.

Easy Solution to Immense Problems

On top of everything, accounting automation is tailored to ease your accounting. It will substitute your cumbersome labour with its automation. So that you will never have to burn your midnight oil to keep track of your records. It works more than accounting. It will throw you some periodical reminders if you tend to miss something or at times unveils new strategy for your accounting.

Accounting Automation Tools

So, if you have made up your mind to take up accounting automation for your business, you are on the right platform.

You have only a few software on the web stores to automate your accounting. This automation makes your accounting super easy than ever before. You shall choose from the horde according to your fit.

Here are some of the best accounting tools striding in the industry. Hook up with our tools to automate your accounting, while sitting in peace.

SaasAnt Transactions

QuickBooks is the most adored accounting software, prominently used by small and mid-sized business accountants around the globe. Though accounting is made way easier with QuickBooks, it also has some pitfalls in terms of manual data entry.

Manual data entry is a draggy and weary task that demands several hours. This is where SaasAnt Transactions greatly comforts you with impeccable data entry. SaasAnt Transactions is an amazing software for swift, precise and seamless accounting automation.

SaasAnt does more than importing data. It renders you overall cover for moving your transactions to QuickBooks from Excel or CSV files. It can also export transactions and reports from QuickBooks. You are free to delete multiple transactions from QuickBooks in case if they are fed incorrectly.

Bulk Imports

Conveying transactions to your QuickBooks company can be simple if you have only a handful of transactions. But that is never the case and that is why you use QuickBooks. So, manually loading the data into QuickBooks takes ample time and labour. But using SaasAnt Transactions you can import your bulk data in just a few clicks.

Bulk Exports

At times, you may need to share your transaction details or relative reports from QuickBooks. Or you may need your reports and transactions in paper print. You may also want to mail your reports. In all these cases, you will need an expert exporter to handle bulk exports. With SaasAnt Transactions, you can export your bulk transactions from QuickBooks in simple steps.

Bulk Deletes

You may not need to file every transaction. Also, there are possibilities to have a list of wrong transactions added to your QuickBooks account. In such occurrences, you shall perform bulk delete with SaasAnt Transactions in minutes.

PayTraQer

PayTraQer is an incredible application, handmade for complete accounting automation. PayTraQer directly fetches data of your online payment details from Square, Stripe, and PayPal. Most importantly, it automatically syncs it with QuickBooks without any manual intervention.

PayTraQer can be of great assistance to you if you are looking for accounting automation. Our product comes up with a free trial version for 30 days. So try exploring our trial version for your accounting automation. Leave us a message at [email protected] if you have any queries.

Conclusion

Now that we come to the end of the blog post, hope you are now enlightened on everything that you needed to know about accounting automation. Learn about various products and weigh them carefully before you let them automate your accounting. 

Happy accounting!