5 Ways To Automate Your Accounting Processes

Bookkeeper In Office

5 Ways to Automate Your Accounting Processes

Now that you have realized accounting automation is the way you have to go you will need processes to drive this home.

The days of having massive filing cabinets filling up offices are numbered.


Start driving the accounting automation process now with these 5 easy steps:

  1. Digitize the document process. Take all manual and printed source documentation and create digital versions of them. Assign someone in the office to drive this process.
  2. Build a file naming convention for all your documents.
    There needs to be uniformity to make sure documents are named correctly. This will allow for easy identification
  3. Choose an accounting package. Choose a package that suits your business size. Quickbooks, Sage and Xero are the obvious options but there area lot of accounting packages out there so choose wisely. 
  4. Appoint a person to oversee the automation process in your staff. A natural good choice would be an admin executive/assistant.
  5. Choose an automation package.
    There are loads of options to choose from.

Julie at Backyard Bookkeeping sums up the trends of accounting happening now and one major trend is accounting automation:

“There are three major trends in the accounting industry that are critical to take note of. First, there is a general movement towards greater automation (greater use of AI in accounting processes to replace repetitive tasks usually done by people). Second, people are moving away from paper, physical record keeping, and desktop software towards cloud storage, online record keeping, and cloud based software. Lastly, there is more and more competition in the accounting software field. It used to be that accounting software was more or less static, with only minor updates each year.

But now existing software is changing rapidly, and new accounting solutions are being developed all the time. The accountant’s challenge is to keep up with the changes. But there is a huge opportunity too: accountants can take advantage of the new software, the enhanced automation, and the movement to the cloud to get more work done for more clients with less effort, while providing more advisory  and higher-level services to their clients. Instead of spending most of our time on data entry and document management, we can leverage the new technology to do that work for us and focus on adding value to our clients.

Business owners still need accountants, because they need someone who can explain the accounting and tax principles that affect their business, advise them on the best software solutions for their industry, and help them streamline and simplify their accounting processes. “

The office that we know today is going to be totally transformed.

Clutter is going to disappear and this will allow for easier management of the office than ever before. 1. It will drive down costs of office expenses and equipment. 

2. It will allow the office to be very flexible and hotdesking will be easier than ever. 

3. Peace of mind will be realized knowing your documents are backed up on securely encrypted servers. 

4. You can take a smaller office space or use your existing office space more efficiently. If you need to employ more people you will have more space to put more desks where the filing cabinets would have gone.

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