5 ways AI will impact accountants
How will AI soon help accountants work more efficiently? We discuss what’s on the near horizon and how your practice can take advantage of AI.
Only the right solution lets you spend less time managing invoicing and payments and more time growing your business.
Invoices are an essential part of most businesses’ finances.
A properly designed invoice helps you get paid on time, provides legal protection for you and your client and validates your company’s revenue. While invoices are undoubtedly important, you don’t need to spend time or energy manually generating them.
Manually generated invoices can often include errors that can lead to late payments and ultimately harm your business’s chances for success. A constant cash flow is necessary for keeping the lights on, paying staff and purchasing supplies. When payments are delayed, it
can create significant problems. Yet small businesses spend an average of 130 hours each year chasing late invoices and often don’t receive outstanding payments until 30 days after the contractually agreed terms.
Unpaid invoices happen for many reasons. One of the most common reasons is when statements contain errors. Invoices include crucial information about your company, your client and the services provided, and clients can refuse to pay when this information is incorrect or doesn’t match their records.
Scott and Elise Honeybrook, Owners
Grumpy Donuts, Australia
How will AI soon help accountants work more efficiently? We discuss what’s on the near horizon and how your practice can take advantage of AI.
Here are four simple ways you can avoid time-sapping tasks and free up your capacity to focus on Creating a system for client work.
While many accountants fear their changing role, there’s now more opportunity than ever to grow your practice, writes Jennifer Warawa.