More and more businesses are turning to automation in order to save time, improve efficiency and enhance decision making. Accounting has seen a huge advancement, with lots of tools available to eliminate manual data entry and minimise errors. One of the most common and powerful accounting automation tools is Sage.
Accounting automation is where software is used to handle manual financial processes and is useful for things like invoicing, payroll management and financial reporting. Many small and medium-sized businesses (SMEs) still rely on spreadsheets to manage their finances, which can lead to errors and also compliance risks. Some of the benefits of accounting automation tools like Sage are:
Sage is one of the most popular accounting software solutions, providing scalable solutions to help simplify financial management. Let’s have a look at some of the key features of Sage:
Sage helps to streamline the bookkeeping process by automatically tracking income, expense management and bank transactions. Not only does this help to reduce manual data entry, it also ensures financial records are kept up to date.
Businesses can create, send and track invoices automatically, and with features such as recurring invoices and payment reminders, you won’t need to worry about chasing late payments.
Managing payroll can be incredibly time-consuming, but Sage’s payroll automation makes sure salaries, tax deductions and pensions are processed accurately and in a timely manner.
Sage simplifies tax calculations and VAT submissions as it integrates with HMRC’s Making Tax Digital (MTD) system to ensure businesses remain compliant with regulatory requirements.
Sage is an incredibly powerful accounting automation tool and is able to generate detailed financial reports automatically. At the touch of a button businesses can see real-time insights into cash flow, profit & loss and forecast future finances too.
In recent times, Sage has started to introduce AI-driven analytics to help businesses identify financial risks before they become huge issues.
As Artificial Intelligence (AI) and machine learning continue to evolve, automation in the world of accounting is only set to improve. AI-driven insights are going to continue to become standard features in accounting tools like Sage, and predictive analytics will also continue to develop.
If you are looking to streamline your accounting processes, investing in Sage’s automation tools could give your business that competitive edge and move towards a more financially efficient future. Contact our Sage experts today for more information.
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