No matter how big or small your franchise is, it can be difficult to keep business matters afloat all on your own. Bookkeeping is often of lesser importance to business owners on a day-to-day basis – until it’s time to cut some paychecks. An unprepared accountant might cave under financial pressure, making him more prone to errors and mistakes. And when it comes to your company’s finances, that’s not something you want to have a margin of error for. Now, let’s look at the top reasons why automation reduces errors.
5 Reasons Why Automation Reduces Errors
There are a lot of reasons why automation reduces errors for bookkeepers, accountants, and business owners trying to operate their own local companies. Accounting automation may seem like a technologically advanced strategy that is inaccessible by those who are less experienced, but that is why our Indevia experts want to review the biggest benefits of this process with you. Today’s rapidly-changing world actually makes it easier than ever to get set up with accounting services that can help you and your profits greatly. Take a look at all the ways you can reduce your own accounting errors when you get set up with a secure bookkeeping system today!
Keep Your Books in One Place
Financial disorganization can cause the downfall of your entire franchise. Whether due to high turnover rates or a recent grand opening, your accounting system may not be completely cut and clean. An automation system can help you keep all of your accounting needs, services, and accessible features in one safe place. You never have to worry about losing secure information or forgetting to update certain files when it’s all done for you.
Ensure 100% Compliance
Unfortunately, small businesses and local franchises are the biggest victims of accounting fraud in the United States. This is because they often hire inexperienced accountants who make too many errors for their own good. Or perhaps the company owner does not stay appraised of daily accounting needs, which allows the accountant to get away with constant bookkeeping fraud. An automated accounting system offers protection against that kind of bad behavior.
Prevent Extra Hires
You need to have someone with solid skills whom you can trust to handle accounting matters. Besides yourself, you shouldn’t look for more than one or two other people to handle your company’s financial needs (depending on the size of your company, of course). Studies show that only half of CFOs trust their own accountants because they may make a costly mistake or engage in foul play. Investing in an automated bookkeeping system with advanced tools for management and security can help you reduce the number of people looking at your business financials on a daily basis.
Optimize Your Workflow
Financial closes can put a huge strain on your company, especially if you are trying to manage end-quarter numbers all on your own. Indevia’s accounting software can take a huge load off of your shoulders, helping you create more efficient ways to ensure good workflow. You’ll have a lot more time to think about what types of accounting processes you want to automate because once you automate them, you’ll be set for the rest of your company’s life!
Having to manually count money and record your earnings at the end of the day leaves you prone to many errors. Not to mention, you can’t free up time to focus on other important work tasks. Using an automated bookkeeping and data entry system can help you generate a daily expense receipt automatically at the end of the day. This will also be a great aid in catching mistakes or errors that might otherwise go unnoticed. These systems can greatly increase the visibility of all monetary actions without you having to put in the extra work yourself.
Reduce Your Work to Improve Your Workflow with Indevia Automated Bookkeeping Solutions
There are many capable and helpful accountants out there that can reduce your company’s financial stress with ease. But if you are looking for extra security against hackers or additional buffers against human error, invest in automation to greatly improve the health of your business. Whether you are a new franchisee or a small business owner opening a new brick-and-mortar store, it’s important to have all of your financials in one place. Check out the unique ways that Indevia’s accounting software can optimize your payment process while keeping your bottom line secure for years to come. Contact us today to get started.