• Tuesday Feb, 26, 2019

How To Automate Your Bookkeeping

Coronavirus Additional Support

If you’re a small business owner, you’ll know how painfully slow manual bookkeeping can be. And with VAT returns, Corporation Tax, and much more to think about, it’s a pretty boring slog.

You might think it’s a simple answer – hire a bookkeeper. But that doesn’t always make financial sense. So the solution? Software automation.

HOW IT WORKS

We’ve partnered with the online accounting software, Xero to provide digital solutions to your small business bookkeeping needs. Xero’s intuitive system saves you time whilst maintaining accurate and timely financial information. Here’s just how they do it.

Bank Feeds

This handy feature links your bank account to the Xero so you can upload information quickly and securely. By using  AI like Intuit the system can analyse receipts and payments and allocate them to their correct destination.

Data input

Use technology like receipt bank to overhaul the way you input data. Simply scan your invoices and let the software input the information into the system.

Automated accounts payable

Process purchase invoices instantly, no matter how they arrive. Scan paper invoices or upload electronically via email and be advised on the due date. Then, simply approve and pay invoices in a few clicks.

Automated accounts receivable

Speed up the process by creating and sending invoices directly from Xero. Plus, it allows customers to pay directly using Xero partnered payment services. No response? Send timely reminders to customers when their invoices are due.

Send Reports directly to HMRC

In line with Making Tax Digital, run your HMRC Tax reports straight from Xero to send them straight to HMRC.

THE BENEFITS

Automation improves productivity, but how else can it help?

Remove human errors – the Xero system will drastically reduce the inevitably mistakes with manual data entry.

Streamlining invoice approval – you can set up recurring invoices, direct debits and payment authorisation all from your phone. Just tap and go!

Know your cash flow – see the ins and outs of your cash flow in real time so you can make informed decisions on a daily basis.

Security – keep your bookkeeping secure with Xero’s encrypted platform. Every transaction is traceable so you’re protecting against fraud and human error.

Contact us to find out more about how automating your bookkeeping can help your business.

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