While there are some insightful businesses embracing automation solutions, others lag behind due to retaining traditional business processes such as ‘bookkeeping’.
Tasks that are involved in bookkeeping can be long, tiring and tedious because you need to make sure that the information you enter is Accurate
A startling fact from recent survey revealed that, almost half of present day’s small businesses are not using automated technology to do their accounting. Starting from tax preparation to expense reports, accountants and owners alike are spending countless hours in doing tasks they’d rather not.
Here are the four tasks that are imperative for your business, for which you should start automating so you can make some space in running your business efficiently instead of shelling out valuable time and money.
Invoicing
Oversights may happen anytime, by losing the track on paid and unpaid payments. The situation plunge to create bookkeeping headaches and cash flow problems. An automated accounting software helps you in generating invoices automatically that sustains sufficient cash flow into your business.
Payroll
Payroll taxes processing is often considered as the tedious task for business owners because of the grueling hours spent in managing payroll. Automating the payroll system can help you cut down your bookkeeping load by creating instant paychecks, calculating payroll taxes, and avoiding tax penalties.
Expense Reporting
A survey found that 40% of employees fail to submit expense reports on time, and 20% of expenses are in violation of company policy. These variables cost you not only money but also create bookkeeping and tax hassles. Hiring an automated solution can streamline the expense reporting process as it can generate reports automatically and integrates with your provided travel expense, that comply with company policy.
You are likely to encounter such scenarios if you hold a loose hand across bookkeeping tasks, automating should be right choice if you really aspire for smooth, sustainable business growth.
Why not try Nimble Accounting – It is renowned for its Innovation, Convenience and Control.
Get more info here, nimbleaccounting.com
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