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Why accounting automation is not just “accounts payable”

EXCERPT FROM ACCOUNTING TODAY

For many, the word automation simply means using software. A common misperception among accountants is that using platforms that digitize your invoicing and bookkeeping, like Bill.com or QuickBooks, means you’ve automated your accounting office. That’s not entirely true.

SUMMARY

In this article, Jason Richelson, Co-Founder and CEO of Bookkeep explains how smarter accounting automation helps address some of today’s biggest industry challenges.

In today’s world, bookkeeping has become more complex due to a proliferation of sales channels and payment platforms, which are not built on common standards, therefore causing bookkeepers to spend countless hours on manual tasks. The labor shortage is not making things any easier, and accounting firms are being forced to reduce their portfolio of clients which is limiting growth.

Jason suggests that accounting automation can help solve these challenges and outlines a few steps to help accounting professionals move forward in 2022.

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