Making MONTH END ACCOUNTING easier - South Africa
Month end accounting is an important aspect of a business, but it tends to take you away from growing the business. Chances are that you are currently still processing the bank statements by hand and need to prepare each invoice every day or have been putting your feelers out by testing modern accounting programs.
On a daily basis, I sit with small business owners, discussing the wonderful new functions of online accounting programs. Most are still very scared or sceptical about the modern versions of accounting. The facts are simple. You can save a l lot of time, measured in hours, by opting into a more AI like accounting program.
The time saved on accounting can be used in building your business. Both admin and sales are equally important, and both need proper attention to grow a business.
I mentioned AI like accounting programs. Let’s deconstruct this for a moment by looking at amazing features of accounting programs of the modern age. For the purposes of this list, I will focus on Sage Online Accounting as we are one of the ambassadors for them.
- With the mapping function you can create rules on Sage Accounting for specific entries from the bank account to be allocated to a specific account, with or without VAT. The bank statements can be important via an OFX file or with a live bank feed important with your internet banking details. This process can be automated for the most part, with NO PROCESSING, and very limited allocations of entries.
- In cases where you need to send regular invoices to the same clients, you can set up recurring invoices to be send out in various time frequencies. This can be sent out automatically or be saved as a draft that can be edited before sending out.
- If you need to do recurring journals for something like depreciation, I will be able to setup recurring journals to prevent this to be done monthly.
- Sage Online Accounting has a mobile app that allows you to manage your accounting on-the-go. You can take pictures of receipts and invoices, track expenses, and create invoices from your smartphone.
These are just a few ways to automate Sage Online Accounting. With a bit of creativity and experimentation, you can find many other ways to streamline your accounting processes and save time.
Automating your accounting processes using Sage Online Accounting can save you valuable time and effort, allowing you to focus on growing your business. By taking advantage of integrations, bank feeds, recurring transactions, the mobile app, and Sage Intelligence Reporting, you can streamline your accounting tasks and reduce the risk of errors. With automation, you can also gain insights into your finances and make better-informed decisions. So why not explore these options and see how you can optimize your accounting workflows with Sage Online Accounting today?
If you are looking to start the process of evolving your current accounting program to a new modern version in Sage Online Accounting, feel free to be in contact with our team.
Looking forward in meeting you soon on a Zoom call!
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