Here’s Why You Need to Automate These Top 4 Accounting Processes Now!

Accounting that traditionally has been heavily reliant on manual processes, is witnessing a surge in adopting automated solutions in recent times. To save cost and time, companies have been deploying technologies to scale operations and optimize their workflow. Technology deployment has proved to be crucial in increasing productivity, reducing human error, and enabling your staff to focus on strategic tasks. Automated solutions are replacing traditional time-consuming and manual tasks of essential accounting departments such AP/AR, payroll, tax to make the best use of their resources.

Here are the four accounting processes your business should automate to save costs and time:

Accounts Payable

Data-entry
Approval follow-up
Looking for lost or missing invoices
Filing, and resolving discrepancies

Fortunately, these challenges can all be addressed with automation. With CA Office Automation you can

process payments electronically eliminating high-cost repetitive tasks
speed up the invoice process and eliminate 83% of manual data entry
move your entire account payable process into the cloud, so that remote or geographically separated teams can all access it
reduction in errors and duplicate payments
mitigate major risks such as fraudulent payments

Accounts Receivable

For most businesses, one of the biggest challenges is receiving payments in time. This also includes some of the manual processes like preparing invoices and delivering them to clients on a custom set schedule, depositing checks, and waiting for funds to settle.

With automated tools and features, your account receivable team will be able to remove the hassles and anxiety around collecting payments in time. You can ensure everyone – including your account management and customer service team that the collections process is up to date with the real-time status of payments.

Here’s how your accounting organization can benefit from automated Accounts Receivable process:

No need to spend time updating the spreadsheets
Don’t have to hunt customer information
Easy access to key performance indicators
Removes the costs accruing from printing and posting in-house invoices

Payroll

The amount of data processing that goes into payroll can get challenging. Inconsistency and mistakes within a payroll system can have complex consequences, often resulting in deterioration of trust in the company. Payroll systems are often complicated by factors like:

Manual paycheck writing
Attendance records are processed manually
Manual computing of salary and wage deductions

Here’s how you can empower your payroll system with the right set of automation tools and features:

Computerized employee attendance management
One-click salary calculation facility with salary slips and auto-notification system
Generate paychecks enables direct deposit

Audit

Traditional methods of the audit include lots of mundane and repetitive tasks like file organization, integration of data from multiple files, audit data preparation, the performance of basic audit tests in Excel, copying and pasting data, and it goes on and on and on. All of these processes are extremely time-consuming, tiring, monotonous, and error-prone.

But now all these constraints can be overcome and turned into a benefit if the companies and their CA/CPAs deploy automated tools and features. All these traditional audit processes can be restructured and simplified to a great deal by using computerized and automated tools.

Automation technology can help accounting practices to enhance the quality of audits by automating structured audit tasks which are rule-based, repetitive, and manual.

Some of the main benefits of automating the audit process are that it helps in:

Streamlining the process
Accelerating the pace by reducing time spent on manual activities
Detecting and amending the mistakes instantly within the system
Making records and numbers highly traceable and auditable
Track evidence and financial workflows in real-time

Parting Advice

While automating these accounting processes will bring many advantages to your accountancy practice, we understand that you may feel daunted by the idea of experimenting with new tools and adopting them. So, what can you do to smooth the process of automating your practice? Here’s how we can help you! We have created a real use replicating video that shows the CAOA platform in action. Using real scenarios resembling data, the video will demonstrate all the features of the CAOA platform in detail. Watch this video now.

CA Office Automation is one of the wonderful concepts designed by the Team Aequitas Infotech for Practicing Professionals like CA, CPA & Tax Consultants. We have been using it for the past 4 years, it’s been the most effective tool in digitizing and automating the work process of the firm. They have been very responsive every time we reached out with any query, and we are delighted with their services. We will definitely recommend them. Thanks for the Great work!”.

NCS & Co.

Mangalore, Karnataka

I am happy that somebody has taken pain to understand our business process and given such a good application. Our client feels they are dealing with a world-class service provider. This is the best solution for all our requirements.

CA Manish Chulawala

Mumbai, India.

Being a CA/CS/Accounting firm, we must keep tracks of the scheduling of recurring jobs, database management of clients through their profiles, allotting tasks to the team by dividing them into sub-tasks and that too by keeping the whole team in the loop for a status of tasks, alerting clients through SMS/Emails, managing Documents into various categories like Master/Working, etc, managing costing of work, Invoices/Receipts Management (without Late or Missing Invoicing!), appointment scheduling, File labeling with locations, keeping pace with technology by using Cloud, Sharing of Job Status, Billing/Receipts with clients, and many more…

CA Bhargav Bhatt

Ahmedabad, Gujarat.

CAOA software will be very helpful to those Professionals who want to scaleup their business to the next level. Literally, It Saves Time, Energy & Build Strong relationship with Clients. Had a great experience with CAOA.

BRIDGE ROBIN & JOHN LIU LLP

Hong Kong

For the last few months we are using CAOA’s White Label solution under Hongkong Government affiliate program, which has allowed me to make some personalization to their software. They have a very good support team that will work on your White label account and within a short span of time, you’ll be up and running.The user experience & security solutions of this software are in the major spotlight.I’m very much satisfied with their White label service and recommend it to other accounting professionals.

CPA Simon Cheung (Director, CPA Global)

Hongkong

CA office automation allows us to easily manage workflow throughout the organization while increasing accountability and security measures.

They also provided excellent training on how to get the most from our system.

Baker Tilly HEM LLP ,Manjit Kothari

Kampala, Uganda

We thank the CAOA team for the wonderful job they are doing in helping us develop our internal control system by implementing the CAOA Platform. Everyone has been professional, excellent and hard-working across all our interactions with the team. Thanks to them, we were able to achieve our goal on time, and we look forward to continuing working with them in the future.

CPA Pankaj Mankani

Partner RVG Accountants. Dubai, UAE.

Hearty congratulations to the team at CA Office Automation for an excellent job! We’ve been trying to put together a functional Office Automation system for the last three years. I am happy to say we finally hired the team at CA Office Automation, and they’ve worked closely with us throughout the process, staying on task, on target, and on budget. I also appreciate their quick and courteous responses. I highly recommend their service!