Mundane tasks of reconciling your accounts, paying bills, and managing invoices never seem to end. In fact, on average small and mid-sized businesses spend 120 days on admin tasks and bookkeeping per year.
That is valuable time you could be spending finding ways for your business to generate more revenue.
If you are like most entrepreneurs, it is likely that you view financial admin tasks and procedures as necessary headaches. After all, you need utmost visibility into your cash flow to remain financially viable. However, because of data entry, you may not have the time or resources to fully leverage insights that could bring longer term savings.
As that dreaded time crunch approaches, business owners dig up their receipts from their wallets and look through their emails for invoices if they do not already have a great filing system in place. Those hours of searching and manual data entry lend themselves quickly to costly mistakes.
And now, more than ever, businesses are looking for efficient ways to keep costs down.
Accounting automation solutions, like AutoEntry, allow business owners to capture data in real-time and maintain documents in a shared cloud environment for easy collaboration across staff.
AutoEntry integrates with Sage 50cloud Accounting alleviating both accountants’ and small business owners’ manual entry aches and pains, adding valuable time and money back into the entrepreneur’s pocket. Here’s how…
3 big benefits of the AutoEntry and Sage 50cloud Accounting integration
- Keep yourself remote, mobile, and flexible with the AutoEntry app
If you have a small business with a staff that makes frequent purchases, you know how easy it is for mistakes to happen on an expense worksheet or how easily receipts can be lost over the course of time.
What’s more, cloud technology, paperless automation, and remote working have all been integral to businesses as a result of the global pandemic. In fact, 66% of employees are working from home due to the coronavirus. Scanning receipts or worse, faxing paperwork, is inefficient and archaic for remote staff.
AutoEntry diminishes these issues with its mobile app.
As easy as taking a picture, AutoEntry captures your receipt, extracts the purchase data, and maps it to Sage 50cloud Accounting. Now, you and your staff are easily empowered to store and submit receipts the moment a purchase is made.
Plus, with the ability to upload receipts from a mobile phone, you can feel confident in your ability to get your accounting done from anywhere, at any time, without the need for physical contact, and with the added benefit of a reduction of paper waste.
No more lost invoices
AutoEntry is not just useful for its seamless receipt capture, it also extracts full line item details from your bills, including product descriptions, quantities, and unit prices.
There will be no more confusion as to who gets which bill, because AutoEntry streamlines suppliers’ ability to submit invoices by creating a general email address to submit them. These documents are then easily uploaded and automatically stored to Sage 50cloud.
For bookkeepers, AutoEntry not only saves hours of manual work each week, but it is an easy adoption into existing workflows in Sage 50cloud. Because of this increase of productivity, financial consultants can focus on providing more strategic services for their clients.
Avoid data duplication and mistakes
Beyond data capture, AutoEntry cuts down on duplication and manual entry mistakes. It scans your data for errors and checks if you have uploaded the same bill twice, eliminating duplicate data entry.
With its smart analysis functionality, AutoEntry remembers how you analyze and process invoices, including which supplier account, nominal and tax codes you assign. Once uploaded into AutoEntry, it stores your documents in the cloud, making it easy for you to search for specific bills or invoices in the future.
As a small business owner, your time is valuable. AutoEntry alleviates hours of work, automating burdensome tasks, and cutting down on manual data entry mistakes. This allows you to get back to your passion, running your business as efficiently and profitable as possible.
Automate your practice
Automating data entry is not just about the technology. It's about the outcomes it delivers for you, your firm, and your clients.
Download our guide to discover the ways you can automate your practice and spend more time focusing on your clients.