8 Accounting Automation Tools That Should Be On Your Holiday Wish List

The world is a much different place than even five years ago, and the key is to put things into your own hands… or hand it over to a robot!

No, seriously. We know you already have a lot on your mind during the holiday season. You’ve got a tree to trim, lights to string, a nice list to buy presents for, and a naughty list that needs a good talking to.

Investing in accounting automation tools is an easy, affordable way to streamline your business. If there is one thing we know, having your finances in order during the holiday season is critical. How else are you going to sleigh it in the new year?

There are so many options out there, and you can find accounting automation tools for basically any of your bookkeeping needs. And on top of it all, they are super affordable. You’ll be able to find a ton of automation that is entirely free (with upgrade options, obviously). Let’s Judy Jetson your life so you can free up time during these very demanding times.

WHAT ARE ACCOUNTING AUTOMATION TOOLS?

Well, well… so glad you made it over to this section. We’re glad you are interested in bettering your business (because so are we). Now, let’s get down to it. What exactly are accounting automation tools? Accounting automation includes programs, software, apps, etc. that do the manual labor of a small business accounting company.

Say goodbye to ledger files and rows of data! No more crunching numbers and watching the hours go by. Now with this off the table, small business owners have more time to analyze and strategize. This next-level process copies data from one sheet to another, identifying discrepancies and errors while minimizing data entry, so you have all the information you need without lifting a finger. Well, you’ll have to lift it to press a button or type in a number here or there, but that’s not so bad.

WHY ARE ACCOUNTING AUTOMATION TOOLS GOOD?

First of all, they aren’t good—they’re great! Everything is in one place, so there’s no need to chase or search for what you need. Virtually at your fingertips, you can pull up any file, categorize, and safely store away whatever you will need for later. Plus, they are accessible from the cloud. What does this mean? Ditch the paper and digitize your documents.

And let’s not forget the elephant in the room. Due to COVID, many companies have accountants who can’t physically go to the office. As work culture is redefined, your team members can access the same files and dashboards anywhere—whether it be sipping fresh coconut juice in your fancy Airbnb in the Bahamas or sipping boxed wine in a mug from the comfort of your own home. But why else, though?

Accounting Automation Tools Save Time

Time is money, and money is time. In the most sluggish hours of the day where we struggle against demands and become unintentional workaholics, it’s possible to get even more work done by making the automated switch. And if you are fortunate to have a balanced work-life scenario, make the best of it and go out for the ultimate brunch with your mom and her beloved chunky poodle, Maxie. Such a cute dog, but ferocious (shudder).

Accounting Automation Tools Are Deadly Accurate

Ugh, the glare of the screen got you making simple mistakes? That 9 was a 6 this whole time? Have to spend double the time to fix everything you’ve worked on all day? No human errors with these programs. The calculations are done by your atomtronic colleague. Using automation leaves no room for mistakes. Because nobody has time for all that.

Take Over the World

Want to get in on that Japanese yen? Have a headache from figuring out how to navigate Mexico’s working regulations for your up and coming swimsuit brand? Accounting automation tools allow corporate finance structures to comply with regulations in different countries. Not only that, but they also provide multi-language and multi-currency support, as well as automatically supporting accounts from local subsidiaries. This could be just the thing you need to cross borders, so get your passport ready.

Be the Professional You Dream Of

Continually learning is an important skill, especially in light of the future. Not only is it a bonus to remove tedious parts of the job, but you will also have more time for business strategy and facilitating good communication.

THE GIFT OF GIVING

You, your team, your family, your dog… you all deserve some love and holiday cheer. That’s why adding accounting automation tools to your holiday wish list is the perfect. There is nothing more important than your time. Not only can you build that shed you’ve been meaning to, but you can also grow your business in your new-found free time.

Instead of investing hours on reports, you can develop new marketing strategies or have a little Zoom happy hour with your suppliers. Network, baby! More importantly, no more burnout, especially during the end of the year. So, let everyone know you want accounting automation tools in your virtual stocking this year.

Imagine all the possible ways to spend your extra time… you can actually take your dog to the park while you flirt with the Steve/Stefan/Stephanie with the cute golden retriever.  As you bat those eyelashes, your reliable automated workhorse will be burning the midnight oil. But wait, you don’t have one of those workhorses yet. At least not yet!

Well, here is our gift to you (because you’ve been so good this year). Below, we’ve listed a variety of top picks you can choose from to help get your holiday groove on. Plus, you’ve only got so much time left to make Steve/Stefan/Stephanie your New Year’s kiss.

Xero 

What’s popping? Hint: It’s not the Xerox machine. Say hello to Xero, a cloud-hosted accounting software popular with small business accounting firms. It’s easy to understand with its comprehensive platform so join the party! Non-finance people and finance people, internal and external staff, reports, and records are accessible to all, so everyone is on the same page.

QuickBooks

Think fast! Check out QuickBooks, one of the most popular platforms on the market used by smaller companies and designed for non-finance pros hustling the hustle. QuickBooks uses invoice and receipt tracking tools and works with major payment providers such as PayPal, Square, and Stripe, giving instant access to customer, vendor, and employee information. And if you’re looking to grow, QuickBooks has its sister software, QuickBooks Enterprise, built for larger businesses. So, for all my budding businesses and visionaries out there, you may want to consider this.

Wave 

If your team consists of you and your fluffy homebound pals, you’ve met your match. Wave is ideal for all the freelancers, sole traders, and small new companies that need a place to keep accounting, invoicing, and receipts in one place. And best of all? It’s free, and who doesn’t like free in this day and age?

FreshBooks

For all the mom and pop shops and the online stores specializing in customized embroidered jackets ethically sourced in Australia, FreshBooks is designed to make your life easier. With simple and intuitive functions, you can generate financial reports, integrate bank accounts, process your payroll, and keep track of your timesheets. If you’re tired of dealing with machines and only machines, FreshBooks keeps you covered with their quality person to person customer service.

NetSuite

Go big or go home. This is for the larger sharks out there. NetSuite suits larger companies, integrating accounting with core tasks overseen by CFOs. It’s also one of the most popular ERP solutions available. What is an ERP? Glad you asked. ERP stands for Enterprise Resource Planning and is a management tool with features galore, from accounting to sales, payroll, e-commerce, etc. It’s your company’s central nervous system where all lines intersect, and you can watch everything play out in real-time.

Deltek Vision  

Deltek is designed for professional service companies. This bad boy, *slaps car*, is a hybrid that combines accounting, project management, resource management, and client management all in one, and different departments would have different features. Essentially, this is another ERP, so it’s great for businesses looking to expand and organize their finances.

TSheets

Nothing beats TSheets when it comes to time tracking accounting tools, at least according to over 2,000 positive online reviews on their app store. With TSheets, you’ll know how and where your money gets spent and can verify expenses. Employees can punch in from anywhere with any device, and you can manage shift-based schedules according to your needs. Not all accounting automation tools have this function, and it can be used as an add on to your leading accounting software that doesn’t offer time tracking or expense recording capabilities.

BlackLine

Black, Gold, Silver, Sapphire, Platinum… Whatever! Blackline, a software used for reconciling and credit card management, will deal with them all. Rather than looking for fraud and error during close, Blackline will continuously work around the clock to ensure lower fraud and error rates, and *ding ding ding* it automatically reconciles credit card payments, so you don’t have to.

Treat yourself. Treat your team. Treat your clients.

Make the switch from manual accounting to accounting automation tools. It’s the ultimate hookup, thus cutting the filler work, saving time, and producing more accurate results. We want your life to be easier while you grow your business. It’s the help we could all use.

But if this is all a little too Elroy Jetson for you, Alchemy Accounting can come to your rescue! Sometimes, machines don’t cut it, and we have the qualifications to lend a hand that’s not made from machines. While embracing the future is something we must do, we also need a human dose every now and again. And hey, welcome to the digital age of accounting! Now go call Steve/Stefan/Stephanie. We’ll be over here handling your accounting.