Automation of accounting processes in an accounting office - the most important information

Accounting Offices

The COVID-19 pandemic has forced a number of changes in the activities of many companies. Some of them had to start working remotely, hence the increased demand for accounting offices offering online accounting services. Is it worth focusing on the complete automation of accounting processes? What is the automation of accounting processes in an accounting office? We discuss in the article!

Automation of accounting processes in an accounting office - what is it about?

Automation is nothing more than the gradual implementation of new technologies to perform tasks that once had to be done manually. It works especially where possible and desirable, while reducing costs, improving efficiency and significantly reducing the time needed to perform a given activity.

The undeniable fact is that the automation of accounting processes progresses more and more over time. This is followed by more and more modern services, which results in growing competition on the market. Therefore, it is worth considering the appropriate preparation of your accounting office to implement new technologies, as this will allow you to stand out from the competition and at the same time gain more satisfied customers.

The automation process also guarantees immediate access to the necessary data, allowing customers to send documents to the system, as well as view the work of the accounting office. This, in turn, means additional savings on quickly consumed materials, such as paper or other office accessories.

The problem of cabinets filled with customer documents is also eliminated, as they are stored only in digital form. Recent years have shown that tax offices are also moving with the times and most often carry out checks, during which scans of documents are sent via e-mail.

Automation of accounting processes in an accounting office - why is it profitable?

Efficient document management, minimized risk of losing invoices or solving deadline problems - these are just some of the benefits of accounting automation. This solution will work great if we want to reduce the time and costs associated with invoices while eliminating paper invoices.By getting rid of unnecessary binders, you can gain additional space in the office.

Automation doesn't have to be an expensive endeavor. When using systems such as wCompany for accounting offices, the price of the accounting package includes unlimited OCR. Customers can attach documents directly to the customer panel or on their google drive or dropbox linked to the accounting system. If there are customers who still bring documents in paper form, it is enough to have a scanner for such cases.

More and more accountants are convinced of automation, because it undoubtedly improves their work and allows you to save the time spent so far on entering documents manually. Although many of them still prefer to deal with some issues on their own, they appreciate the convenience of automatic data entry and the relief from unpleasant and monotonous tasks, such as digging through documents or manual accounting of documents.

Opportunities and threats and the automation of accounting processes in an accounting office

You should be aware that the automation of accounting processes is irreversible, and people working in accounting should get used to it. New technologies can be difficult for some workers. It happens that the employees of the accounting office are brakes who do not want changes in the work patterns that are well known to them. On the other hand, the direction in which the market is heading and the expectations of the younger and younger generations of entrepreneurs show that the only solution is to raise competences in this area.

However, fans of technological innovations will certainly find themselves in this new reality - it is a great opportunity for them to develop their careers. It is also an opportunity for people who want to retrain, as the demand for individual specializations in the accounting sector will increase.

Technological advancement and increased efficiency of services may be the answer to the price of accounting services that has stood for some time. For an accounting office to be a thriving business, it is necessary to look for solutions that increase profitability. When introducing automation, it may turn out that we are able to settle the same number of customers in a smaller group or we will be able to use our free time for other important tasks, such as marketing and acquiring new customers.

Will accountants still be needed?

Automation brings new opportunities for ambitious and qualified people, but at the same time a threat to those who cling to traditional methods of work. However, technologies will not soon replace activities such as checking the substantive correctness of booked documents or advising the client, which are within the competences of an accountant.

The report of the international organization of finance, accounting and management specialists (ACCA), "Future ready: accountancy careers in the 2020s", on the future of the work of an accountant, focuses on some of the most important aspects that will soon be particularly desirable. These are:

  • business transformation,

  • management and use of accounting data for business development,

  • development of technologies used in accounting,

  • support in ensuring sustainable development (pursuit of profit and goal).

The report also indicates the progressive narrowing of specialization, and it will then be necessary to have competences in accounting, such as:

  • digital and technical skills,

  • creativity,

  • forward thinking and anticipation,

  • emotional intelligence.

Electronic document flow

An accountant in an accounting office does not need to have a desk covered with documents. Thanks to the wCompany system for accounting offices, entrepreneurs can add scans or PDF files with invoices to their panel on an ongoing basis. He can also scan them with the phone and attach to a google drive or Dropbox integrated with his account at wCompany. At the beginning of the next month, the accountant's supervisor transfers all documents to be posted by OCR and only verifies the correctness of the entries. The results of tax calculations are published in the customer's panel and you can have them sent directly from the system to an e-mail or even SMS. The entire document archive is stored electronically and always available for viewing by the accountant and the entrepreneur himself.

Automation is the future of accounting. Although not every accounting office sees the need for computerization yet, it may be the only right choice. New technologies will undoubtedly play an increasingly important role in accounting and it is worth getting into this process as soon as possible.