Make Accounting Work for You with Automation

By Eric Mangal, CPA

November 17, 2022

Technology and automation breakthroughs in recent years have made it easier than ever before to streamline business accounting practices. Our Client Accounting Services (CAS) team continually learns new ways to automate tasks that previously would have consumed work hours — not to mention money.

Clever integrations now mesh with existing accounting programs, and artificial intelligence (AI) can automatically comb through information for mistakes. Most savvy companies now rely on dashboards to translate data to simple visuals. Thanks to these tools, we can help our clients save thousands of dollars annually in missed opportunities, errors, and wasted time. For instance, one of our clients was able to transition from three part-time accountants to one full-time accountant — a case of automation paying for itself almost immediately.

When clients seek advisory thoughts, we look at the big picture and determine which options will work for the client’s unique day-to-day operations. We typically customize solutions to fit the specific needs and time constraints of the business; however, these recommended options are both trusted and valued for their effectiveness.

Bill automates payables, corporate spending, expenses, and receivables

Bill allows users to send invoices and approve, pay, and sync bill payments. We like Bill not only because it simplifies the accounts payable and accounts receivable processes but also because it adds a security buffer when sending money. Bill disperses payments using its own bank account instead of the client’s, which adds a layer of protection from fraud. It also offers excellent internal control over how much can be paid and by whom. Plus, Bill’s direct integration into the client’s accounting system saves the hassle of double-entering information.

Like an increasing number of programs, Bill uses AI — at no additional cost to the user — to simplify processes even more. For example, Bill’s AI reads invoices to automatically identify the vendor and apply the payment terms. In other words: it’s a must for businesses still entering pages of data every month.

Our CAS team is well-versed in Bill and can coach businesses through integration into their accounting procedures. We’d be happy to talk about whether Bill is the right option for your operation, too. 

Divvy: an all-in-one spend management solution

Divvy is a Bill product — thus, they work together flawlessly. Divvy helps businesses manage expenses with just a few taps. Build a budget within Divvy and assign users to it. When expenses come in, they can be categorized within seconds. This is a considerable upgrade for businesses that dread the end-of-month reconciliation process.

Divvy also offers business credit lines and cards to make tracking even easier. We can help determine if Divvy is the solution for your reconciliation or expense processes.

QuickBooks Online is still the business accounting leader

There’s a reason QuickBooks is the gold standard of business accounting software. It’s endlessly customizable, easy to use, and makes reports a snap. QuickBooks steadily rolls out upgrades, including integrated AI, to simplify accounting further.

Our team is a big fan of the linking options, feeds, and rules available within QuickBooks. For example, a client normally must download a bank statement and then manually compare the transactions with QuickBooks. However, if the client links their business’s bank account to QuickBooks, the program will store the bank statement in the QuickBooks reconciliation. It is just one of the many options we use to tailor QuickBooks to a client’s day-to-day needs.

General ledger integration services through GC

Most payroll companies now offer general ledger integration. Our team can help clients map how their payroll should post to different departments, classes, and accounts. With general ledger integration, such information automatically transfers to the business’s accounting software every time payroll is completed.

We’re keeping an eye on Spreadsheet Sync — a beta test QuickBooks is piloting that will complete general ledger integration within the QuickBooks program. In the meantime, a payroll provider usually offers clients an Excel file with the pertinent information for general ledger integration.

GC can assist your business with this time-saving integration. Once set up, it could eliminate hours of stress.

Custom dashboard visuals for your business

Dashboards are graphics of key metrics. They are one of the easiest ways to track expenses, profit and loss, and sales — basically, anything a business needs to see regularly. They are endlessly customizable, and we often set up multiple dashboards: one for managers, one for sales, one for owners, etc.

The key to a great dashboard is simplicity. We recommend including only three to four key performance indicators and making them easily digestible at a glance (such as using red as a “danger” color in a chart or green for “good”). Dashboards are one of the easier ways to upgrade a business’s accounting practices, and we can easily create one for yours.

Rolling these solutions into a business’s accounting practices requires commitment. We advise our clients to expect a six-week learning curve. Once beyond, the time savings are enormous.

Get in touch

If you would like to streamline your accounting processes, or get advice on the best tools to use, give us a call at (209) 527-4220, or email us at contactus@gccpas.net. Our focus is on serving as a true partner; we start with a holistic look at your needs before recommending customized integrations to save time and hassle. We look forward to discovering how we can help your business run as smoothly as possible.