The Cost of Not Automating Your Bookkeeping

We've all heard the phrase, "time is money" since we were kids. This phrase is especially true within the accounting industry and if you've been keeping up with the current trends within the industry, you know that accounting bookkeeping is moving away from manual processes and more towards automated accounting solutions. There are so many benefits to automating your accounting processes that you are actually losing money if you still maintain your accounts manually.

1. Taxes

Taxes are the number one most tedious process that accountants help their clients work through on a yearly basis. In fact, the average SMB spends about 41 hours a year on tax preparation. Imagine if you reduce that time drastically by implementing a sound accounting software solution. Accountants will have more time to focus on client management than ever before. 

2. Track Your Processes

Automated accounting solutions practically eliminate the probability of running into human error. At the end of every fiscal year, no matter how meticulous are about tracking and maintaining your invoices, it always feels like something slips through the cracks. Manual accounting processes opens your organization up to unnecessary risk and errors.

3. Bigger Savings

One of the biggest selling points of any accounts receivable automation solution is that they pay for themselves. Rather than wasting both time and money on trying to manage all of your manual bookkeeping processes, you can purchase an automated accounting software solution at an affordable monthly subscription cost. 

Accounting software brings your organization a seemingly endless amount of benefits: ease of access, cloud-based access, reduced overhead cost, easy invoicing, security, automation, and more. When evaluating whether or not your organization should switch to automated accounting solutions keep in mind that the more manual your bookkeeping processes are, the more money you are losing.