7 WAYS ACUMATICA HELPS YOU IMPROVE YOUR MONTH-END CLOSE
The end of the month can be stressful for accounting team members. They devote hours to finding data from disconnected systems and amending spreadsheet entries. Even with careful preparation, the month-end close can take days to complete. Even worse, executives might not have current and reliable data until well after the month has ended. This time-consuming, and expensive process that prevents business leaders from having precise financial data can be avoided when using Acumatica.
Acumatica's ERP platform automates and streamlines your company's month-end close. No more manual data entry and reconciliations. Below are seven ways that Acumatica can optimize your month-end close:
#1 – Real-time financial information keeps your entire team informed – Acumatica provides you with instant access to financial data so you can always monitor how your company is doing. This eliminates the need to wait until the end of the month to reconcile your books and receive updated financial data. Under Acumatica's unique pricing structure, there is no additional charge for adding additional users. The role-based security of Acumatica makes sure that only people with the right authorization can access sensitive data.
#2 - Acumatica digitizes and routes transactions. There is no longer any paper to manage or manual data entry to be concerned about. Accuracy and effectiveness are enhanced as a result. For instance, Acumatica can generate AP documentation immediately from scanned vendor bills thanks to artificial intelligence (AI) and machine learning (ML).
#3 – Customized processes lead to consistently applied procedures across all the business's operations. Acumatica's configurable workflows and processes automate document assignment and routing for all required approvals
#4 – Automated bank feeds and file attachments are features that let you reconcile your books on a daily basis rather than solely at the end of the month. Real-time transaction matching and swift discrepancy resolution are made painless.
#5 – Multi-dimensional financial reports provide the real-time financial data that is essential. Acumatica can create customized financial reports that are tailored to the needs of each team member.
#6 – Data can readily flow across systems thanks to third party integrations, which make it simple to communicate data between Acumatica and other programs. By doing so, manual data re-entry is eliminated and it is assured that everyone is using the same data.
#7 – Automated transaction entries eliminate the requirement for manual tracking, recording, and posting. Automated adjustments replace the need for manual entries.
The month-end close procedure is streamlined and automated by Acumatica. You can avoid dealing with tiresome manual data input and reconciliation tasks. With precise financial reports, Acumatica will save your firm both time and money and help you make wise business decisions. Contact DimeSoft to discuss all the features that Acumatica has to offer.