With various free tools available, modern SMEs are able to communicate and collaborate like big enterprises. Efficient work leads to happier customers - your customer contact is more personalised, your response time is reduced and your internal processes become faster. However, there is a big part besides the marketing and sales process which is often underestimated - your accounting.
We’ve all been there. Working with numbers and invoices takes too much time and you don’t seem to have enough time for the actual business. It makes sense to contract an accountant to help you, but that’s just the first step. You need to collaborate with your accountancy office like with the rest of your team.
Your accountant is very close to the operative side of your business seeing all the orders, numbers and transactions. However, there’s still a barrier between your business and your accountant’s work. We’re talking about time and hours available. Some days a week you are just too caught up in serving your customers. You keep your invoices for a specific weekday and handle them in bulk. While this works for a while, it can lead to outdated data in your accounting and unnecessary muddle with your bookkeeper. Automation is key.
To make the best of it, you should automate everything you can on this matter. Integrations can help you to synchronise for example your webshop with your accounting software. An automated transfer of order data from your eCommerce platform like WooCommerce, Magento or Shopify creates invoices in apps like Xero or Sage One and books the correct amounts to the right ledger accounts. All of this happens in real-time while your customers shop online. These low-priced integrations save you a lot of time and prevent typos.