6 Steps to Automate Your Accounting

5 min Read
6 Steps to Automate Your Accounting

The development of artificial intelligence and cloud solutions, as well as internet and mobile technologies, brings radical changes in many aspects of our lives. Accounting and finance are among the areas where the digitalization process has the most impact on business life. Companies can move their business functions to the digital world with the online and computer-based solutions offered to them. Thus, it can manage banking, finance and accounting functions faster, with less workforce, simpler methods and minimizing human error. You can automate many accounting processes with digital solutions, which are quite complex and time-consuming and labor-intensive to manage with traditional methods. We have listed for you the steps that minimize human error, reduce paper usage and automate your accounting.

Switch to e-invoice or e-archive invoice

One of the first steps you need to take in order to manage your business' accounting processes on online platforms is to switch to e-invoice or e-archive invoice. In this way, you can issue and receive invoices on online platforms, which are the basic building blocks of business life. E-invoice for purchases of goods or services from your customers who are e-invoice taxpayers; You can use e-archive invoice solutions for your customers who are not e-invoice payers.

Use the e-ledger application

The use of e-ledgers, such as e-invoices, is required by legal regulations for some companies. However, it is possible for businesses that do not have to do so to automate and digitalize their accounting recording processes with the e-ledger solution. With the e-ledger, where the journals and ledgers, which are required to be kept by law, are kept digitally, the treasury is granted a certificate with an electronic signature.

Use your pre-accounting software in integration with CRM programs

Integrating your accounting software, where you can use e-ledger, e-invoice, e-archive and other online solutions, with other CRM software in your business will help you automate the process. This way, you can more effectively manage the data process between accounting and other departments in your company.

Bring your banking transactions to a single screen with Open Banking solutions

One of the areas you need to include in order to automate the accounting process in your business is banking transactions. Being able to instantly check your different accounts in different banks or the same banks is a must for effective cash flow management. Regardless of the bank, you should benefit from Open Banking solutions to be informed about the incoming or outgoing balances in your company accounts, to control payments and collections from a single screen, and to analyze, report or archive the data produced by your bank accounts.

Make your collections through online channels

Moving the collections you make from your customers, dealers or all business partners in your business to online channels is one of the most critical steps in automating your accounting process. The collections you make based on your invoices and all the payments you receive through online solutions are transferred directly to the accounting records. While these processes are carried out automatically and instantly, you can save labor and time.

Try digital solutions in POS management, bulk payments and debt instruments

You can also move transactions such as POS management, mass payments, and debiting systems in banks, which constitute other parts of the accounting processes of businesses, to the digital world. With the solutions offered, you can control, process and manage all these transactions whenever you need, from devices with internet access. Thus, you can instantly and automatically transfer the inputs and outputs of these transactions to accounting software.

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