Oct 13, 2020
Accounting is being automated as we speak, accountants no longer have to do the job themselves. All they have to do nowadays is to analyze data & advice. That wasn't the case 40 years ago when accountants used to draw spreadsheets on actual "sheets". With artificial intelligence, accounting seem to be a job type that machines will soon fully conquer. Here are 3 of those tools that are really automating accounting:
Veryfi - Replacing Bookkeepers.
This amazing Ycombinator startup was able to Extract data from receipts, bills and invoices within 3 seconds. Small businesses can audit every invoice & receipt for a small fee of $15/month. It really is the perfect auditing tool. But it's evolving to become much more than that, if used in the right way, it can save you from having to hire any additional book-keepers. It can understand any invoices you get in your email inbox and it communicates with QuickBooks seamlessly. And recently it managed to read timesheets and vehicle logs too.
Spendesk - Automating Expenses.
This solution is not as unique as the other 2 on the list, but it is doing one hell of a job. It allows you to issue multiple prepaid cards for yourself and your employees, and it keeps track of everything you spend money on using that card. You can use their mobile app to categorize those expenses as soon as you make them, and allow you to manage when and how much each employee can spend using his/her prepaid card. It links to Xero and Sage as well.
MiniAccountant - Replacing accountants.
This solution is designed for the not so tech-savvy businesswoman who doesn't use any accounting software yet, or who hopes to stop using accounting software all together. It works entirely on your mobile phone so you can skip the need to sit down behind a laptop to do your books. It will work as your accountant, you can tell it to invoice someone with a simple text message, and Mini -the assistant- will issue the invoice and send it on your behave. Also you can ask Mini questions such as: How much sales did I do last month? how much I have spent on coffee this week.....E.t.c.
MiniAccountant will link itself to your bank account & Paypal account, this way it will save you a lot of time on bookskeeping. When you receive money it will notify you on your mobile and link it to the right customer. And it will keep taps on any payments you make.
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