Automating Accounting and Bookkeeping (Zoho Books Fun)

strategy zoho Oct 05, 2021

Accounting and Bookkeeping Automation Ideas

As we continue our journey through some great automation ideas, this week the focus shifts to finance.

Yes, there are things in your bookkeeping and finance software to automate and make your life easier. Since we use the Zoho Finance Suite, most of the automation ideas here will reference those apps. However, many of these can be done in other platforms or by using tools such as Zapier.

If you missed the previous articles in the automation series, you can catch up. The first article was about Automations for your Sales Team.  That one provides useful CRM Automation Ideas to help your sales team close deals faster. The second article talked about Email Sequences and Email Automations where we shared clever Email Automations to engage both prospects and customers.


Avoiding Double Data Entry

Connect your bookkeeping software with your CRM to match up sales and reduce work. In  Zoho Books, for example, the integration with Zoho CRM automatically updates your Account and Contact records. Just be sure to have it all connected correctly.

If you can find an option to update particular fields, then even better! You can setup workflows in your CRM such as creating a new invoice from a won Deal / Opportunity. Or create a new customer from a won Deal / Opportunity.


Speeding Up Monthly Close

The monthly accounting close process can easily become tedious and lead to stress. Sending invoices to clients, receiving payments, updating accounts, and following up with those who haven't paid yet are among the tasks. Automating the monthly close process can ensure more accurate data and make your life easier. 

Retainer Clients are ideal for automations. There's an option in many bookkeeping software platforms that allows you to auto-generate invoices each month. In Zoho Books, we use the Recurring Invoices to achieve this. 

If you use a project management or time tracking software (such as Zoho Projects), then you can connect it with your bookkeeping software to auto-generate (preferably as a draft) invoices from the time clocked on each project. 

Email reminders can be set up to automatically follow up with your customers regarding payments. Make sure to personalize the email reminder copy and define the schedule for when the automatic emails (based on when the invoice is due).


Bank Transaction Import and Rules 

Auto-Import from your bank, if you aren't already. Look for the option to import your bank transactions directly from your bank, rather than having to manually import your bank statements.

Take it a step further by using rules to save more time. You can automatically match and categorize your recurring transactions such as your monthly expenses.


What else are you automating in your accounting practices to make things run smoother? 

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