FeaturedKnow and Grow Your Business

Accounting Automation Myths

By July 19, 2018February 26th, 2019No Comments

When it comes to new technology and cloud computing, many small businesses are adopting new processes and technology to keep up in an ever-changing, competitive market.

And change can be scary at times. We’ve all been there; when construction causes you to have to take an unfamiliar route to work, when you’re already having a rough morning and your go-to Starbucks sandwich is sold out, or even when you move across the country for work.

Change is even more impactful when you have a routine in place for specific work tasks, like your bookkeeping. For small business owners, adopting automation may sound like a complex, expensive, and perhaps unnecessary undertaking, especially if you rely heavily on your bookkeeping or accounting to guide your business’ finances and keep your books in order.

However, the contrary is true. In reality, embracing cloud accounting software like Kashoo can bring numerous benefits for your small business, including increased visibility and control over your accounting workflows, and a higher degree of customization.

Still fearing change? Don’t worry—here are a few common myths about accounting automation softwares that we’re going to clear up for you:

Myth #1: Automation Defeats the Need For Accountants and Bookkeepers

It’s true that many processes in accounting and bookkeeping workflows are being automated; however, it doesn’t mean that accountants are heading the same way as telephone switch operators! Like we talked about in our previous article, using automation for your accounting doesn’t deduct from its value. In fact, automation increases the value of accountants and the bookkeeping process. With accounting automation tools, accountants are more empowered to work on the tasks that truly matter, and that help propel the business forward. They are likely to spend less time on redundant transactional tasks (i.e. document collection and data entry) and more time uncovering insights that focus on helping their clients’ business thrive.

Myth #2: Automation Scales Down Visibility and Control of Your Accounting Workflows

Your current accounting workflow with your outsourced accountant works just fine. Your business financials are organized and you have full visibility and control over with process. Why bother with a solution that might take away some of that control?

What most people don’t know is that accounting apps actually help increase visibility and control over accounting and bookkeeping workflows. You can view your entire business’ financials at a glance, track income expenses at home or even on-the-go, and have a much higher degree of customization when it comes to your bookkeeping. With Kashoo, users are even able to customize invoices to send out to their clients!

Myth #3: Automation Only Works In Organizations of a Certain Size

Maybe you’ve gone through the trouble and researched cloud accounting technology, considered it for your small business, and concluded that automation tools are only beneficial for larger organizations. Or perhaps the cost and expenses associated with moving your data to the cloud has deterred you from investing in new technology.

In reality, the opposite is true. Cloud accounting is for every business, regardless of size, industry, or available resources. By 2017, the cloud accounting technology ecosystem has doubled in size over the past year. This means that the variety of capabilities that cloud accounting technology can provide has also increased. More options are available for small business owners to leverage to build an affordable, secure, and modular technology stack (front end and back-end) that can be tailored accordingly to meet your business’ needs. For example, Kashoo enables you to create and send out branded invoices directly to your clients and allows you to take direct credit card payments—which makes getting paid that much more efficient. Kashoo also keeps our dashboard and language simple and easy to understand. We speak YOUR language, not accountant.

The Verdict Is Out: Automation Isn’t The End of Accounting

In fact, it’s helping reshape the industry!

Automation isn’t a fad or a passing accounting trend. Organizations of all sizes will eventually adopt these processes to keep up with their competition, especially when countless firms are building smarter software and systems as we speak.

Get started with Kashoo’s 14-day free trial. See how convenient it is to log everything in the cloud and have it on-the-go while also reducing redundant tasks to make room for more important goals: like connecting with your customers.