loader image
The Flag of the United States of America

Unlocking the Potential of Streamlined Operations through Accounting Integration

Over the years, you would have heard stories from people working within the accounting industry that they had found themselves lost and drown in a sea of financial data. Probably, they even ended up in a giant mess of figures when details get misfiled or wrongly inputted. These inaccuracies and other issues cost a business too much time and money, which could have been used in a more valuable and profitable task. Hence, several accounting programs that offer convenience and great benefits to businesses were launched. However, these programs cannot resolve all the existing, alarming issues. Little did the industry know that they can still maximize the benefits of these accounting tools. No, you need not fix or change your current program. All you need to do is connect your system with a reliable accounting integration solution. Easy, right?

Integrated Accounting System Defined

An integrated accounting system is self-balancing software. It can connect all crucial features of various programs in a single platform. Likewise, it can assist you with automated account reconciliation. This cuts out the need for re-entering data and human errors, while also making sure that your records are always up to date. As a result, your business receives precise financial details faster. This can significantly help you make sound business decisions and courses of action.

Benefits of Accounting Integration to Your Business

It lessens re-keying and discrepancies.

Re-keying creates two issues. First, it wastes your time and effort that could otherwise be used for other valuable tasks. Further, it gives room to errors that require more time and effort to find and fix.

A business management system with integrated accounting reduces these issues, which gives you and your staff more time to focus on sales and opportunities.

It provides real-time, accurate information.

Apart from being behind, standalone accounting is almost always not secure as it requires manual re-entering of details from the ordering system to the accounting system. That means that this process is not real-time and invites human errors. Hence, it could not help you make an informed business decision right away.

In contrast, integrated accounting offers a full, real-time picture of the business at any time since details automatically flow into the accounting system as orders are processed.

It helps automatically perform job costing.

With an integrated accounting system, you can even handle intricate accounting processes like job costing. Postings are automatically made to accounts receivable, accounts payable, and the general ledger so that the accounting system automatically stores the details it needs to calculate job costs and complete other accounting processes.

On the contrary, standalone accounting cannot “talk to” the order management system like an integrated accounting system would. Thus, it often runs into problems.

It results in an accurate commission.

Not just an integrated accounting system can automatically perform job costing, it can also automatically calculate sales commission including split commissions. As orders are processed, the system receives the information it needs to calculate the commission.

While with non-integrated or standalone accounting, you or your staff must manually take details from the company’s ordering system and enter it into the accounting system. Again, this may cause a human error and potentially faulty business decisions.

Final Thoughts

If you are considering to adopt an accounting integration solution for your business, it is important to ensure that your staff is comfortable using these tools to perform their jobs. You must make them understand that accounting software, like accounting itself, used to be only for those with long years of training in this function. In recent years, however, integrated accounting software has become less complicated and easier to learn. Thus, adapting to these advances in procedure could help you all in achieving the company’s financial goals.

Leave a Reply

inquiry

© Copyright 2020 CloudBanking Ltd. All Rights Reserved.

ACCOUNTING SERVICES

Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

 

Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

HIGH RISK

Are you in the high-risk vertical market? Getting tired of looking for a reliable payment solution for high-risk industry? Don’t worry! CloudBanking got you covered.

We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

Thus, we go the extra mile to ensure your business’ security and efficient cash flow. We provide tailored solutions and features because we understand your unique needs. You can now offer your customers a smooth and seamless journey with our innovative payment solution for high-risk industry.

HEALTH AND WELLNESS

Focus on what matters most to your business—your customers. And allow CloudBanking to take care of your payments. Our payment solution for health and wellness industry will be your trusted partner in improving your customer experience. With our innovative platform engineered to accept all kinds of payments and provide the security you need; we can guarantee you streamlined business operation.

 

In the ever-changing global marketplace, make your business at the forefront of innovation to give your customers the best customer experience. Trust that our payment solution for health and wellness is here to help you meet your customers’ expectations while improving your cash flow. Contact us today to experience the difference.

FIELD SERVICES

Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

 

Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

RETAIL

The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

 

Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

PROFESSIONAL

CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

 

We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.