Six Accounting Tasks that We Can Quickly Automate for Time Saving

The process of sending and receiving invoices can also be easily automated with many benefits derived.

If you go for software designed for cloud accounting for small businesses that integrate invoicing software, you can create and edit invoices easily for emailing. Besides, the software will monitor if invoices have been paid or not and send automatic reminders making the process of invoicing faster, easier and more accurate. As data recognition and data upload are automatic, there is no need for manual data entry.

For tax filing, accountants usually send clients a tax form for filling out tax details. Clients then take a printout of the tax form, fill and scan and then mail the filled-in form in a PDF format involving many embarrassing manual steps. Once the information reaches, the info is manually checked by the accountant for storing in a shared file.

We can easily avoid this manual and time-consuming task by replacing it with web forms and collecting information electronically. Templates from web forms can help you customize client information and allow clients to attach digital files that can be securely stored on an online platform. Easy integration with your emailing system is also possible with a web form software that can keep you posted on client’s tax information submission.

For many companies, much has changed over the last decade and a half about expense reporting for accountants. Previously these reports used to be handwritten or printed-out spreadsheets with receipts attached and submitted manually.

However, it is now possible for employees to automatically fill out and route expense reports without attaching supporting receipts as software is generally integrated with the payment platforms able to capture and store data.

Not only the accounting department but a great deal of administrative work is also taken away from the busy schedule of HRD.

Many accountants still demand tax paying clients to print the form, put signatures, scan and email it back to the accountants causing a huge discomfort and time wastage for the clients as they don’t have ready access to a printer or scanner most of the time.

Making use of eSignature technology in place of physical signatures with a pen and paper can be a much convenient and easy way to obtain customer signatures only needing the software provider to be compliant with the regulatory authority for eSignature.

Payroll can be time-consuming and a real nightmare for accounting professionals. Automated payroll software can take the burden off their shoulders by automatically calculating wages and applicable deductions such as TDS, PF, Gratuity, Bonus etc.