How do you automate work for the accounting department?

Accounting is an integral aspect of any business, and this job comes with a huge responsibility where you need to minimize errors and mistakes. Automation has become a popular solution to these problems, and there are several ways to optimize accounting tasks.

But how is it possible to automate this work and what tools are used for this purpose?

In this article, we'll break down simplifying your bookkeeping work and how to get started.

Types of automation

At this point, several examples in automating accounting work can be cited, such as:

Automation of accounting processes - systematizes the accounting of income and expenses. Includes automatic generation of reports, comparison of payments with statements, billing, etc.

Reporting automation - is responsible for generating reports for internal and external needs. Currently may include automatic generation of income and expense reports, tax reports, etc.

Automation of cash register management - systematizes the management of cash operations. It may include automatic generation of cash orders, automatic matching of cash transactions with statements, etc.

With the help of automation of these business processes there is a huge saving of time for the work of specialists and gives the opportunity to engage in more important tasks and helps in an accelerated format to solve the goals of documentation, accounting income, etc.

Introduction of automation

Having sorted out the types of accounting business process automation, let's find out how to start implementing it in an organization.

The first step towards automation is the transition to electronic document management (EDM). This allows you to reduce the time required to process documents and avoid errors associated with manual data entry.

Next, it is necessary to use specialized software to automate accounting operations. These utilities allow you to automatically generate reports, make calculations and control the budget.

Prominent examples of accounting automation software are:

1C:Accounting is a program for automating accounting and tax accounting in companies of various industries. It allows you to keep records of income and expenses, prepare reports, generate documents for tax authorities and much more.

SAP Business One is an integrated enterprise resource planning (ERP) system that automates all business processes of a company, including financial accounting, warehouse management, sales and purchasing, manufacturing, etc.

QuickBooks is a financial management program for small and medium-sized businesses. It allows you to keep track of income and expenses, create invoices, pay bills, and more.

Xero is a cloud-based financial management program for companies of various sizes. It allows you to keep track of income and expenses, create invoices, pay bills, track debts and more.

Zoho Books - is also a cloud-based financial management program for small and medium-sized businesses. It also allows you to keep track of income and expenses, create invoices, and more.

FreshBooks is a financial management program for small and medium-sized businesses. Like Xero and Zoho Books it allows you to keep records of income, etc.

Wave Accounting is a financial management program for small businesses. It allows you to keep track of income and expenses, create invoices, pay bills, track debts and more.

These programs allow you to automate all basic accounting operations, including accounting of settlements with counterparties, tax accounting, payroll accounting, etc.

In addition, to automate accounting, you can use special online services that allow you to perform accounting operations remotely, here are some examples of such services:

MyBuh - is an online accounting service in Kazakhstan that provides businesses with a set of tools for financial management. The service includes functions such as invoicing, inventory management, payroll processing and tax calculation.

Online services for outsourcing accounting (Buchta, BigBuh, etc.) - are services that allow entrepreneurs to hire a remote accountant and save time in reporting to the tax authorities, calculating budgets and costs. With the help of these services, you don't have to worry about filing a declaration or in the formation of accounting reports, and the introduction of cost accounting.

Online services for cost accounting (Mybuh, Uchet, etc.) - These services allow entrepreneurs to keep track of expenses and simplify the accounting process. With these services you can scan receipts and checks, automatically recognize data and keep records of expenses.

Online services for budget management (Planior, Planfact, etc.) - are services that allow entrepreneurs to keep track of their finances and manage their budgets. With the help of these services it is possible to track income and expenses, control the budget and plan finances.

This is convenient for companies that have branches in different cities or countries. It is important to note that accounting automation not only speeds up work, but also reduces the number of errors. This is especially important for companies that work with a large number of documents and conduct many accounting operations.

One way to automate accounting is through the use of artificial intelligence. AI can be used to sort and categorize transactions, create financial reports, and even provide financial performance information. Also, by automating these tasks, accountants can focus on more strategic tasks.

Difficulties in automating the accounting department

• Accounting. One of the main challenges in automating accounting business processes is the need to record a large number of different operations and transactions that must be processed and reflected in the accounting system. This requires a high degree of accuracy and reliability to avoid errors and unreliable data.
• Company Specifics. In addition, accounting processes can be very specific to each company, which can make it difficult to create a universal automation system. For example, some companies may use special programs for tax accounting or financial management that can only be integrated with certain automation systems.
• Safety. It is also important to consider that accounting processes may involve sensitive information such as financial reports or customer data. It is therefore necessary to ensure a high level of data protection and access control.
• Staff Training. Finally, automating accounting processes can require significant expenditures on staff training and system customization, which can be challenging for companies with limited budgets.

Pros of automation

When automating business processes, it is necessary to take into account many factors, such as: analyzing the company's activities, selecting the appropriate tools, staff training, etc. But do not forget about personal automation of business processes, which is becoming increasingly popular in the modern business world. And allows you to save a huge amount of time for implementation.

After all, with personalized automation of accounting processes, huge opportunities open up:

• Process Optimization. It helps to speed up work and reduce errors, which in turn leads to savings on financial accounting and tax reports. Automation also increases the productivity and efficiency of the company, allowing employees to take care of more important things.
• Reducing the likelihood of errors. In addition, automation of accounting processes reduces the number of probability of data errors and data processing, which helps to prevent wrong decisions and significantly reduce possible risks. The use of personalized automation also improves the manageability of the company's business processes to respond faster to changes in the market and improve its business performance.
• Safety. Of course, personal automation of accounting processes requires a high level of data protection and access control. And, of course, we should not forget that automation may require significant costs for staff training and system customization. But all these difficulties will pay off many times over thanks to increased productivity, reduced personnel costs and improved manageability of business processes in the accounting department.

Conclusion

Getting personalized business process automation for your accounting department is a worthwhile decision, as it can help improve company efficiency and reduce the cost of staff and resources.
If you are looking for advice on automating your accounting activities. Our team of experts is ready to help you with this.

Contact us at sailet.kz, to get professional advice on accounting automation and start working more efficiently today!