Managing your finances effectively is critical to keeping your business running, both now and in the future. Having accurate, well-organized financial data will only benefit you—from forecasting to completing your taxes. However, tracking and recording income and expenses throughout the year can be both time consuming and complex. So, how can you make sure your finances are in order?
The key is having the right accounting automation tools at your disposal—specifically those that harness the power of automation. With accounting automation on your side, running your small business will be so much easier. QuickBooks Online syncs your business data automatically, so tracking invoices and expenses are a breeze. Learn more about the benefits of accounting automation and how it can help your business all year round.
Even the Canada Revenue Agency is taking advantage of cost savings from automation. In 2016, the CRA was selected as a finalist in the recognition of a data automation project that resulted in a savings of $3.5 million per year . The CRA’s new financial system automates processes that were traditionally done by paper. Operationally, the automation of the CRA’s financial system allows for faster payments and provides a complete audit trail.
Data automation has revolutionized the field of accounting leaving many to wonder about the future of the profession.