If you’re having trouble keeping your books in order, you’re not alone. If you’re like many of our customers, you utilise various systems for accounting and receivables, things become much more complicated. You can now sync Denarii Business Platform with QuickBooks, Zoho and Xero.
Problems with noncollectable receivables
With this functionality in mind, we looked at the three most common AR accounting pain points and found that synchronising may have the most significant effect.
Assist in tracing
Maintaining good financial health and a strong cash flow requires that you keep track of your receivables and know precisely how much cash you have on hand. Inconsistencies in your financial records might arise when you use several platforms to manage your funds, which brings us to our next problem.
Reduce the amount of time spent on pointless activities
For the sake of accuracy, you or your team may be required to do the time-consuming operation of manually entering the same data into several systems. Furthermore, mistakes might occur, resulting in further downtime as a result of the extra time needed to correct them. This loop may cause you to postpone important strategic activities, which can ultimately harm your organisation.
Consolidate accounting processes
In terms of AR tasks, reconciliation may be the most time-consuming one. Your accounts will be in balance and there will be no missed or doubled payments as a result of this procedure. An extensive amount of detective effort is typically involved when trying to link a post office check with no reference number to an overdue payment, as well as a bank transfer that is barely visible on your bank account.
The advantages of using 2-way synchronization
You no longer have to register receivables on more than one platform when your AR is synchronized between Denarii Business Platform and your accounting software. Denarii Business Platform imports all outstanding and new invoices, as well as client information, so you can conveniently submit payment requests and check their progress.
A cash flow strategy is much simpler to develop when all of your invoices can be seen on both platforms at the same time.
Payments made through Denarii Business Platform are linked to the invoices in your accounting software so that you don’t have to worry about reconciling. Human error and guesswork are eliminated, allowing you and your staff to spend more time on building your company instead of wasting time on mundane tasks.
Half Work – More Accuracy!
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