Tally Automation

11 Reasons You Should Invest In An Accounting Automation Software

August 8, 2022

Tally Automation

11 Reasons You Should Invest In An Accounting Automation Software

August 8, 2022

Automating repetitive or time-consuming tasks is key to increasing productivity. You can get a lot done in a short amount of time by eliminating unnecessary paperwork. 

Tally automation makes it easier for businesses and tax experts to maintain their accounts. Since it does not have the most user-friendly interface, managing data can be a struggle. 

  1. Saves up to 80% of the time you would normally spend on data entries

Assuming it takes 35-45 seconds per manual data entry, you will need to put in 8 hours for 1,000 entries. 

With an accounting automation software like Suvit, each data entry will require only 3-5 seconds. This will cut down the total time taken down to 50-60 minutes for the same 1,000 data entries. 

This is how you can actually save 80% of your time you would normally spend on data entries. 

  1. 100% Error-Free Data Entries 

Making errors in entering data is costly 💸

There are many hidden costs that incur when you have to go back to correct data entries. The time spent could have been used in some other productive work. 

Incorrect data entries will also lead to wrong interpretation of data directly affecting your business decisions. 

Government compliance issues, fines for missing a deadline and much more. Save yourself the hassle and choose accounting automation tools. 

  1. Single Platform to access all financial data 

You will not have to use any other platform to store or exchange data. Usually, clients share documents such as bills, receipt and bank statements over text or email. This may scatter the documents all over the place.  

Tally automation software allows you to store all your data on a single platform and keep track of your work.

It becomes the central platform for your team to upload documents and ensures nothing gets lost or mismanaged. 

Suvit has dedicated modules for different categories such as Banking, Sales, Purchase, etc where you can organize and still keep it all at one place. . 

  1.  Remote access to your data 

In Tally, you cannot remotely access data and fetch the details without the Tally Cloud.

Remote access of data will provide you the benefit of not being tied to a single device or workspace. Switching to accounting automation will give you the power of cloud access. 

Access data remotely and fetch details anytime with automation softwares like Suvit.  

Simply log in with the credentials and continue working from anywhere.

  1. Transparency between management and accountants 

Business owners can also keep a tab on all accounting processes going on. They can see the financial records and be updated about the status of work. 

Since accounting automation softwares has a user-friendly interface, you don’t have to be an expert to understand it or use it. Clear and real-time data is available for you. 

As an accountant, you can provide a better experience for your clients with such features. 

  1. Share controlled access with your team 

With a third party software, clients can directly upload documents, assess the data, view insights and more. 

You as the main user can create profiles for your team just like you would do in other productivity softwares like Google Workspace and Slack 

Any user will only gain as much access as you allow. So you can provide varying degrees of control to different members of your team. 

This feature will make it possible to not depend on someone to carry out a task. No more waiting for documents.

In Suvit, Click on the Client Module from left navigation bar → Click on Add Clients

Create separate profiles for your clients and team members. Share the necessary credentials with them.

  1. Take data-driven decisions 

Data-driven decisions help accountants and business-owners to effectively track information based on their goals and strategies. 

Automation tools generate important performance reports like 

  • Banking process updates
  • Sales/Purchase transactions Analysis
  • Total Transactions

Data will help you get a clear idea of what should be your course of action to improve your performance. 

Suvit homepage has the dashboard which shows you analytics based on the activities such as

  • Analysis of all your transactions in Banking, Sales, Purchase
  • Credit Usage
  • A graph view of transactions you have completed over the time. You can customize the time period and can generate required reports. 
  1. File taxes before the deadline 

Tax deadlines can be missed for various reasons. Documents not received on time, work overload any many such things. Missing a deadline means paying a fine and waiting for the next date to be announced.

When your data is managed and entries are error-free, filing taxes becomes really easy. 

Automation tools like Suvit can help you automate many of the tasks and send you timely notifications

  1. Keep up with legal compliances 

Compliance officers have to track all the changes to dates, deadlines, forms, penalties, duties and interests. With changing rules, it comes with a lot of changes in documentation and other work. 

Accounting automation will help you keep your data updated and compliant with new rules. 

With the help of accounting automation, tax experts  need to make changes to a few  parameter values and all the relevant data will be updated. 

  1. User-friendly interface 

It can be difficult for any non-accounting person to understand the workflow of Tally. 

Even accountants struggle with certain elements of it such as invoicing modules which are   troublesome. 

Third-party AI automated tools provide a user-friendly interface. Resulting in less stress and more productivity. 

And as a business-owner, you will not find it challenging to navigate through financial softwares like Tally. An intermediary platform like Suvit  will make the job easy. 

  1. Upload documents directly on the platform 

Traditionally, accountants have to collect data from their clients and manage the communication to make sure they have enough paperwork to push into Tally. 

With accounting automation tools, clients can upload their data into the software. Suvit supports PDFs, Excel Sheets and Scanned PDF copies. 

Accountants will get notified when their clients update or upload anything. Only after a simple verification, tax experts and CAs can push data into Tally with a few clicks. 

To Upload Documents in Suvit(let’s say you want to upload a sales sheet),

  • Go to Sales 
  • Click on Upload File

20x Return on Investment* with Suvit

So how exactly will you get your return on investment? Apart from the indirect benefits you will receive, there can be a real difference in your expenditure. 

As a business owner 

  • You won’t need to hire more people for small accounting tasks which can be automated. 
  • If you work with a smaller workforce, you will save costs on the need of investing in a larger office space 
  • Once you take data-driven decisions, you will make less unproductive decisions and your choices will be more fruitful. 
  • Save costs on fines and penalties which may occur due to late tax filings. 

As an accountant 

  • You can acquire more clients as you have more time in your hand 
  • Won’t need to hire extra help to get done with the job
  • Can gain more referrals from existing clients as a result of their amazing experience with your services. 

If you feel accounting automation is worth it, give it a try. 

Suvit has a 7 day free trial available for you. 

We also host a daily demo meeting at 16:00 IST for our potential and existing users where we solve many of their queries. You can join here!

Ankit Virani

Ankit Virani

CEO Suvit

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