Business Processes That Can Be Handle Well With Integration

With the advancement in the technology, software companies are stepping ahead with the latest and advance features build within their products as accounting software. In this day and age, accounting software has one rich feature, called integration, which act as an additional bonus for business firm to operate in the business for handling entire business operations of the firm.

The business processes for business firms remains the same only the way they have been carry on them is varied from firm to firm. Solely the utilization of accounting software is common in every firm. Merely, every second business firm in the market have employed the cloud accounting system to manage their operations in a meticulous way.

It is estimated that over 95% of businesses, all over the globe put to use of cloud accounting system in their business firms because they believe that operating cloud technology is the optimum way to administrate their business precisely. Major accounting software like QuickBooks, Xero, MYOB and more, works very well with the integration features. Combining these software powers with highly used business application make them even more powerful than ever before.

These additional accounting solutions have the capacity to send and receive the stored data directly into your accounting software. Their principle motive is to manage your business seamlessly and saving your extra time and costs by reducing manual input. They are solely designed in a way to give you maximum output in existing resources. They can enable all your business transaction in your software system within no time.

Integration is the latest function which is used by every organization these days. It is the kind of automation done in the business process. It enhances the speed and accuracy in accomplishing the accounting process. Integration can be enabled when you attach or synchronize varied business applications within your employed accounting software system.

With the help of integrations, the following business processes can be handled by the firm’s management precisely:

Inventory: It is foremost crucial for the company to keep an active eye over their inventory, so that they do not lack over any stock at any time. They must have the proper record for every specified item in the stock. And even they have to prepare themselves in advance, it they face shortage in any inventory. This record can be more effectively managed by Inventory management integrated apps. They can handle and supports the numbering of inventory even from multiple locations. Like: SOS Inventory and Woo Commerce.

Payroll: Calculating payroll is a cumbersome chore to be handled by the faculty as it consists of accurately recording of information and complex calculation. But the recording for time, pay, bonus, leaves and taxes can be effort-less by several payroll management business solutions. Applications like T-sheets Time tracking, Gusto, Sure Payroll, and Square Payroll helps the firm to record their employees’ time and make all the payroll transactions appear in your software.

Sales: Sales transactions are directly linked with managing your inventory. You need to track your sales orders as you have to keep up with your stock items. Even you need matched up all the sales orders with the sales transactions and the payment it received. It is necessary that your periodic balance must be matched with the deposits. App such as Shopify is rated higher to manage all the sales transactions and importing directly into accounting system.

Making and Accepting Payments: As Businesses are growing rapidly on online platform and even every business activity is done with the help of internet, the same is the case with payments. Every business prefers to make and accepts payment against your bills and invoices only via online mode. Business apps can aid you to make and accept payments on your behalf and even can extract all your data and export right into your books of accounts. Like: PayPal, Bill.com, and Sync with Square. 

Taxation: Taxation is the vital task to operate for any business firm. Tax is a mandatory obligation to be made for any individual or business corporate. Business solution ease to keep record of your every income and expenses and along with the tax amount levied on them. They help through your financial year and at the end you are provided with auto-prepared tax amount and report. Like: Expensify, Halon Tax, Tax Planner pro, and QuickBooks sales tax.

Data Extraction: These advance business applications assists you to import or export business transactions data in bulk. They can directly extract all your transactions or information from vendors, suppliers, banks, customers, credit card statement, bills invoices, receipts and many more direct form your business party into your accounting software. For instance: Hubdoc, AutoEntry, A2X for Amazon, Chrono Books, and Zapier.

Customer Relationship Management: Customers are the king of your business. It is important for you to establish and maintain fruitful and healthy relationship with them. And it is solely possible if you have detailed information regarding them. Apps like Method: CRM, Insightly CRM, Aero Workflow, Sales force, Zoho CRM, and iEnterprise CRM will assist you can giving proper record for all your customers and will manage them as per your need.

Financial Reporting, Budgeting and Forecasting: These three aspects come after the accounting procedure finalization. And it is necessary to view past performance by financial reporting and to decide upon the future by preparing and forecasting the budgets. Although accounting systems are very well deigned to perform these operations but business add-ons can enhance their functionality in more skilled way. LivePlan, Fathom, Float, Futrli, Budgeto are some common examples of management applications.

These above mentioned business operations are of routine nature, which require higher attention to organize them perfectly. Their perfection will results a higher success in business growth and expansion. Integration is a bonus for each business enterprise in their accounting system, which can be utilized in an optimum manner so that these basic business operations will results in higher profit and save your priceless time for concentrating on business very well.

Want any Better way to Acquire Advantage of Integration?

If you find any difficulty in managing your accounting and bookkeeping services, then You can outsource your accounting and bookkeeping services and gain additional benefits of add-ons from accounting software. We operate the major accounting software like QuickBooks, Xero and MYOB from last 7-8 years along with several integrated business applications. Our skilled and expertize staff will never let you down in your business.

Know more about our Accounting and bookkeeping services, here. Or CONTACT US!