Automated accounting involves the usage of accounting software to perform number crunching and the tracking of transactions. Simply put, automated accounting involves reducing most of the accountant’s manual working elements such as data entry and recording transactions. Automated accounting software contains built-in key formulae that allow businesses to create reports and makes the accounting process smoother and more efficient.
The usage of the software, therefore, helps to complement the accountant’s work by easing the accountant’s manual workload and helping to complete most of the traditional accounting tasks. Automated accounting brings about numerous benefits for companies and here are some of them.
Improves Cash Flow Management
By implementing automated accounting into your business, you can ensure reliable and consistent tracking of your business transactions and purchases. Cash flow management can be difficult if the accounting is done incorrectly. Through leveraging technology and accounting software, the chances of error and mistakes are minimal or none, as compared to human errors. You are also able to access tools from sophisticated accounting software that allows you to analyze important data and generate reports.
This allows you to better manage your cash flow and make better financial decisions about your business. You are also able to improve your business’ key performance indicator (KPI) due to gaining better insights from the accounting software.
This allows you to scale for growth, and direct your cash and investment to areas of your business that need it the most. By doing so, you are positioning your company in a better position for growth and accountability, which also improves your future and current cash flow.
This is perhaps the biggest benefit that comes with automated accounting. You can produce more and track more transactions in a shorter period via automated accounting. Automated accounting also reduces the need for the manual entry of data and recording of transactions. This allows accountants and employees to focus on the business and on areas that are more important as opposed to manual, routine tasks.
Employees and accountants thus benefit from higher productivity. Automated accounting also means that there is almost nothing for accountants to reconcile during the financial closing as most of the data in the accounting software or system has already been checked and copied.
Audits can be shifted to a self-service model and low-value activities such as physical storing of documents and copying are eliminated via the usage of automation. Accounting staff can thus be redeployed to more strategic tasks and focus their efforts on higher risk areas.
Why You Should Choose Shogo for Automated Accounting
Shogo works with leading accounting solution providers to manage your daily sales accounting through our automated accounting services. Our accounting services help to integrate seamlessly with your point of sales (POS) and e-commerce online marketing (ICOM) system to your accounting system.
We help to position your business for growth through leveraging technology and software. Our automated accounting software is also easy to set up, and your sales will constantly be synchronized to our software. We are sure that your business will benefit from our automated accounting services.