Before diving into accounting software, there’s a crucial step called the pre-accounting stage. This is where you organise and prep financial documents like receipts and invoices. Why bother? Because the accuracy of your financial reports depends on it. If you mess up here, it can lead to mistakes in reports and ill-informed decisions later on. Getting the pre-accounting stage right sets you up for reliable financial reporting.
Now, let’s talk about the challenges accountants face during pre-accounting. Even seasoned pros sometimes overlook this step, but small mistakes here can lead to big losses. Errors in this stage can mess up your financial data, calculations, and even cause you to miss important entries. It’s like a chain reaction; one mistake leads to another. So, paying attention to pre-accounting can save you a lot of trouble in the long run.
Why do mistakes happen at the pre-accounting stage?
- Manual entry: Typing in data by hand increases the chance of mistakes.
- Lots of paperwork: Handling boxes upon boxes of documents makes it easy to miss things.
- Not enough resources: Smaller firms might not have fancy software or enough staff to handle pre-accounting efficiently.
To tackle these challenges, accountants can divide tasks, get approvals, and so on. But for those who want to take things up a notch, automation is the key. Using tech to handle paperwork can make things easier and more accurate.
Why choose automation?
- Faster work: Automating paperwork means you can get more done in less time.
- Fewer mistakes: Automation helps reduce mistakes and keeps your data accurate.
- Better service: Automation speeds up document processing and gives real-time financial insights.
- Reduced costs: Automation cuts costs. Research from KPMG suggests intelligent automation can reduce costs by between 40% to 75%, including labor costs and improving workflow efficiency.
How to automate the pre-accounting stage
If you’re tired of spending countless hours collecting and processing client receipts and invoices and are looking for a way to streamline your pre-accounting tasks, then you’re in luck. Our upcoming webinar on Wednesday, 22nd of May at 2:00 pm Easing your workload: How to automate the paperwork is designed to help you do just that.
What we’ll cover:
This webinar delves into the world of automation and how it can revolutionise your practice, exploring the power of automation in the pre-accounting stage and how it can save you valuable time and resources.
A key focus of the webinar will be on automating data extraction. We’ll show you how a data extraction tool like Dext Prepare can automate collecting client data collection process, making it faster and more efficient than ever before. We’ll also explore how integrating data extraction tools with your bookkeeping software, such as BrightBooks, you can further streamline your workflow and ensure seamless data transfer between systems.
But automation isn’t without its challenges. During the session, we’ll also discuss how to overcome potential productivity barriers and ensure a smooth transition to automated processes, providing practical tips and advice to help you make the most of automation in your practice.
And to top it all off, we’ll give you a firsthand look at data extraction software in action with a short demo of Dext Prepare. That way, you can see for yourself how automation can transform your pre-accounting tasks and free up time for more strategic activities.
Register now to guarantee your place
This webinar is a must-attend for accountants working in practice who are looking to streamline their workload and stay ahead in an ever-changing work landscape. Don’t miss this opportunity by registering now, and discover the power of automation for yourself. Register now to book your place.
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