What is accounting automation?

A business puzzle

When it comes to accounting, doing routine bookkeeping tasks manually is slow and painful. You don’t want to have to work out which bank payments you receive match the invoices you sent; you really don’t need the hassle of deciding which outgoing payments match up with the goods or services you bought. Entering and categorizing expense and income information manually is simply not something you want to do, neither is spending a lot of time creating end of year accounts.

In small and medium sized businesses efficiency is highly desirable. Often business owners don’t want to be burdened with low value, time consuming, repetitive and tedious admin tasks. However, often economics might mean you have to really question whether it makes financial sense to employ someone to do relatively low value tasks.

In many areas of business administration, software automation provides the answer to this puzzle.

What can accounting automation do for my business?

Accounting automation means more time, less stress and a happier accountant! Reporting enables you to get your business properly organized, letting you take the right decision in real time.

At OneUp, we view ‘accounting automation’ as having your invoicing, accounting, inventory and CRM in sync, working in harmony. There’s little requirement for human input, so when it comes to accounting, customers find that with OneUp there is really nothing much more to do.

Accounting synchronizes with your bank and does the hard work for you, validating suggested entries and does the books for you; CRM ties up quotes, sales orders and invoicing; Inventory manages stock levels and re-ordering. You can easily create an Invoice from a Sales Order and email it straight to your customer’s Inbox.

How OneUp works

  • Automated transaction retrieval uses encrypted logins to pull transaction information from your bank account. A process of sync and match compares transactional amounts in your account to automate bank reconciliation.
  • For transactions where there is no match because an expense or income has not gone through OneUp it generates accounting entries. Our powerful algorithm is built around machine learning, a form of Artificial Intelligence (AI) that generates accounts data by learning from your initial set up and inputs of OneUp.
  • Invoicing lets you create an Invoice from a Sales Order and send it with one click. Each Invoice is matched with  payment. An Invoice is automatically tied up with sales and gets matched when the payment hits your bank account, flagging up any unpaid invoices into the bargain.
  • Inventory levels are automatically adjusted for items that are sold. The number of items you have listed is automatically reduced, taken off the balance sheet and P&L updated accordingly. When items run low new inventory is automatically ordered at the same time to maintain stock levels.
  • CRM lets you stay on top of sales by tracking opportunities, providing timely reminders and tracking calls and tasks. Quotes use templates to project a professional image consistently and send them from your desk or on the road with your smartphone.

Solve the accounting business puzzle with OneUp

With OneUp you can expect up to 90% of your normal accounting work to be handled automatically. Simply get your accounting organized and done. Tax ready, dashboards to visualize results and project cashflow and get a better control of expenses. Have tools that really help you stay on the top of your finance without the burden to manually doing it.

To see more great OneUp accounting automation features and to experience the benefits for yourself, click here and take our FREE trial.

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