2016-11-23 00:00:00 Running a Business English Want to improve the efficiency of your business? Consider implementing these automation techniques. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Accountant-Sets-Up-Spreadsheet-Formulas-To-Automate-Accounting-Data.jpg https://quickbooks.intuit.com/ca/resources/business/accounting-tips-automate-your-data/ Accounting Tips: Automate Your Data

Accounting Tips: Automate Your Data

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To maximize the efficiency of your business, implement automation for certain processes. Scan and optically read invoices to extract financial data into your database. These accounts payables can be routed electronically and done automatically based on the recipient. In addition, ensure your financial entry options reject coding errors that create problems requiring manual adjustment in the future.

Set up spreadsheet formulas or macros to automatically calculate financial reports or financial analysis, and establish modules in your financial system to produce periodic reports customized for your needs. This includes setting expense allocations to occur automatically, timing the reports to generate repeatedly, and having minor system updates occur as needed.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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