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.