Save Time on Bookkeeping and Improve Margins with PayTraQer

Modern software continues to play an important role in changing the business landscapes. Most accounting firms, though are experts in number-crunching fumble with their manual bookkeeping process. The most painful and labour consuming exercise in bookkeeping is manual entries. Manual keying is a draggy process that devours up solid days and weeks.

This read will throw light on how you can scale your margins by saving time on your QuickBooks-keeping.

What is Bookkeeping?

Bookkeeping is a part of the accounting process that involves the recording of a company’s financial transactions on a regular basis. This involves preparing source documents for all transactions and operations of a business.

Prevailing Challenges in Bookkeeping

The most time-consuming affair in bookkeeping is the manual entries. You have to be informed that manual entries are 19th-century tasks that are considered redundant and obsolete in this 21st century. There are a lot of points to stand by this fact. 

Eats Up Time

Manual entry means manually keying each digit of each transaction for every record, by checking at the record that you have at hand. It is genuinely surprising that many small scale businesses still rely on columned paper-based receipts and ledger books for their bookkeeping. Even after you endure through this whole tiring process, you are yet to start your accounting. You have just been doing the data entry part, importing your transactions into your accounting software, which is a prerequisite for your accounting. A time-effective software would be of great assistance to you.

Demands Ardent Labour

When you choose to import your data into your QuickBooks account manually, you will need solid manpower to accomplish it. You shall either choose to do the data entry in-house or outsource people. If you are doing it in-house, you may need to add more people to your crew. If not this manual entry will throw up a big burden on your employees’ shoulders and they will have to use up considerable working hours in it, which may affect the other tasks of your employees. Software that eases your labour would be a smart choice.

Inevitable Inaccuracy

However vigilant the data entry clerk is, there is a high chance for errors in manual entries. Inaccuracy is not a joke when it comes to earnest tasks like bookkeeping and accounting. Errors are not only annoying in bookkeeping, but also have immense potential to inflict a greater mess during reconciliations and tax seasons. Inaccuracy also affects the credibility of your records and may pull you into a greater mess in times of financial endings. Bookkeeping software that can reap accurate results might help you better.

Costs You More

Errors are not just irking in bookkeeping, but are also costly in terms of identifying and rectifying them. Errors will cost you more money, labour and time to locate and fix them. This is again a draggy process and there are high chances for cluttered records, while will affect the plain sailing of your accounting process. Efficient bookkeeping software will take you out of all miseries in bookkeeping and let you learn how to build a budget for small business?

How Auto-Entry Helps You Out

Manual entries may apparently be the easiest and most accessible way to get along with bookkeeping in small-scaled businesses and small accounting firms. But as the business grows, so must its methods to stay alive in today’s competition. Manual entries are fading out of practice in most small and mid-sized businesses. And it has already been obsolete in big businesses years ago. So it is already high time to embrace automation for your bookkeeping. 

Most small businesses and accounting firms greatly lean on QuickBooks for their accounting process. QuickBooks runs a gamut of tools and features to make your accounting easy and mess-free. But there is a missing piece in QuickBooks that is costing you more. 

Manual keying, that is how your transactions from your POS machines and payment gateways are imported into QuickBooks. As elaborated earlier, manual entries have their inefficiencies, which further hamper your margin growth. 

But things do not have to roll out this way. So how to automate bookkeeping?

Why Opt for small business budgeting software?

PayTraQer

PayTraQer is a powerful auto-entry tool that can automatically sync the transactions from your payment gateways into your QuickBooks account, without any manual intervention. With PayTraQer, you will have clean and fresh books all the time. It would just take minutes to sync a horde of transactions to QuickBooks, which would otherwise stretch days if done manually.

How Saving Time with Auto-Entry Improves Margin

The saying time is money always works for business and accounting processes. We will run through how you can make more profits with the help of automated online bookkeeping.

Faster Turnaround

 As the process of bookkeeping is automated, the tasks that would usually drag up to two to three days can be concluded in a split second. Bookkeeping software will offer you more time than you can invest in making business decisions. 

Amplified Productivity

One of the main reasons for switching to automated bookkeeping services is the increased productivity it reaps. In automated bookkeeping, the software takes up the record scratching and importing transactions, while you can focus on things that need manual interpretations. 

Unlike humans, the software can work round the clock, throughout the year, even when you are off. You won’t require a human to push and pass on the process.

Flawless Records

When you take up automated bookkeeping, there is zero chance of errors. As the software does the interactions among themselves and brings authentic and accurate transaction details to your QuickBooks account, you always get accurate records. These software have zero tolerance to errors and give you error-free records. 

Mess-free Reconciliation

As you have clean and decluttered records, the reconciliation part rolls out super smooth. You will not face any misfortunes at the time of financial closings and tax seasons as you have transparent and accurate records. 

Clear-cut Analysis

With automated bookkeeping, every inch of the process is transparent. You can cross-sect the flow of the process at any stage and you will be getting a clear picture of the process. Most such small business budgeting software offers you apprehensive reports, which will pave way for a progressive analysis. You will not have to set up a meeting with accounting professionals each time to get a piece of information. You can simply log in and get reference anytime. 

Secured Process

When you take up automated accounting, you will have minimal manual intervention. This will ensure the safety of your confidential financial records. You have everything end-to-end protected, with no complacency to unauthorized access. This makes small business bookkeeping more secure.

Wrap Up

Having told everything, we can conclude that automated bookkeeping will make your process easier, faster, and more accurate to a great extent. Elimination of repetitive tasks paves way for easy conclusions and steers you to achieve targets faster. So, if you are looking out for tools to automate your bookkeeping with QuickBooks, you should try using PayTraQer with a 30-day free trial. It will wipe off manual labor from your bookkeeping process and leaves you with a clear headspace to focus on making business decisions. Drop us a line at [email protected] if you have any queries.