How Accounting Automation Can Empower Your Accounting Practice

Advancements in technology have been a game-changer for accountants and bookkeepers, especially with the rise of automation. Being in a data-heavy industry, automating tasks like accounts payable and receivable is your ticket to working smarter, not harder. You can choose to cut down on repetitive work and instead focus on what really matters. Still curious about automation and its benefits? Let’s explore how it can revolutionize your practice and boost your efficiency. 

Return on time invested (ROTI) 

Time is money, right? For accountants and bookkeepers, managing your time effectively is key to maximizing your profits. Start by categorizing your daily tasks into low-ROTI and high-ROTI activities. Low ROTI tasks are the tedious ones—like checking emails, manual invoicing, and data entry.  

High ROTI tasks, on the other hand, are the ones that drive your business forward—think client meetings, relationship building, and providing valuable service. While low ROTI tasks offer minimal growth, high ROTI activities are where you’ll find the most sales and profit. 

Save time with automation 

With only 24 hours in a day, it’s crucial to minimize the time spent on low ROTI tasks. This is where automation really shines. By automating your accounts payable and receivable processes with platforms like Forwardly, you streamline tedious tasks and free up your time.  

Forwardly integrates seamlessly with QuickBooks Online, Xero, Zoho Books, and FreshBooks, handling invoices and payments efficiently. With payment automation, you can handle these tasks in minutes rather than hours, allowing you to focus on high ROTI activities that directly impact your business. 

Reduce errors 

Repetitive tasks, especially manual data entry, can lead to errors—typos, incorrect figures, and misreported data. These mistakes can be costly and damaging to your clients. Forwardly’s automatic reconciliation feature with 4-way sync capability reduces the risk of human error, ensuring greater accuracy in your financial management. Its automatic payment feature also helps maintain consistency and prevents discrepancies.   

Consistency and reliability 

Automation brings much-needed consistency to your workflow. Forwardly ensures your accounts payable and receivable processes are predictable and reliable. Automatic payments and reconciliation mean you always know when and how much you’re paying or getting paid, reducing the risk of discrepancies and errors. This consistency helps prevent problems and keeps your business running smoothly. 

Anytime, anywhere 

One of the biggest advantages of automation is the freedom it offers. With Forwardly, you can handle tasks on the go—manage bill payments, and collect instant payments from anywhere, anytime. Forwardly makes you more flexible and efficient, allowing you to accept and send payments instantly in just 60 seconds. This saves you time and being affordable saves your money. 

These are just a few of the many reasons why accounting automation should be part of your practice. Forwardly is the best choice for streamlining your accounts payable and receivable processes, offering the most cost-effective solution with no subscription fees. So, why keep doing things the hard way? Say yes to automation with Forwardly and watch your accounting tasks transform. Competitive edge, here you come!