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As technology marches on, more and more options are available to help cut down on the time it takes to maintain your accounting records.
Here at Springfords, we are always on the lookout for ways to help you (and us!) work more efficiently.
We’ve already told you about a number of accounting packages which have ways in which to automatically feed in your bank statement data or to export lists of payments to be made directly into your online banking, significantly cutting down on the amount of manual entries that need to be made and making the bank reconciliation process much quicker.
However, today we’re going to talk about the newest addition to our toolkit – AutoEntry.
AutoEntry automates data entry by accurately capturing, analysing and posting all of your invoices. In particular we’ve found in using it that this service can significantly reduce the time it takes to enter all your purchase invoices (also works with expense receipts, credit card statements and more).
The process is straightforward: you gather together your invoices, run them through a scanner (we use the one built into our photocopier but compact desktop scanners are inexpensive) and upload the scans to the AutoEntry software. You or your staff can then go and do something more productive while you wait the short time for the software to do its thing!
Once AutoEntry has finished processing (you get a notification by email), you log in and can very quickly run down the list of results, check for accuracy (we’ve found it to be extremely good) and at the push of a button the invoices are posted into your accounting software (We use it with Xero and Sage but it will work with others).
If you use software such as Xero, with the capability to hold scanned copies of purchase invoices, the scans can be automatically attached to the entry in the software. This makes it much easier to check on entries at a later date and can cut down on queries from your accountant!
The cost of all this functionality in the AutoEntry software package is relatively low compared to the savings in staff time (starts from £9 a month for up to 50 invoices).
Springfords would be happy to provide you with a demonstration of the software and to train your staff on its use.
For more information or to discuss ways in which we might be able to help, contact firstname.lastname@example.org.