How to Capture the Right Data for Accounting and Bookkeeping

In a constantly evolving accounting and bookkeeping industry, strong client relationships are key to the success for most firms. And the best client-advisor relationships happen when bookkeeping becomes seamless: timely access to documents, with insights into your business clients’ finance operations. When this happens, you can provide monthly bookkeeping quickly and efficiently, along with business intelligence to engage your clients with their finances. 

A recent research study by CPA Advisor found that accountants are losing an hour a day manually checking client data for errors. Taken across a firm of 15 accountants, the figure equates to 3,284 hours in the year or 19.5 weeks. Firms surveyed confirmed that many of these hours are not billed to clients, impacting the recoverability of services provided. 

Accurate data capture and early data management save time on major tasks such as VAT returns and year-end accounting.

How Itemize Can Help

  • Offer accurate and quick access to accounting data. You can avoid mundane data entry by automatically capturing 30+ fields within 30 seconds from invoices, receipts, POs, and other accounting and finance documents.
     
  • Provide complete upload trail with information like document source, individual/business account, when, and how (email, scan, etc.) You will know exactly who to contact, which is particularly useful if multiple people at your client’s business send you documents. 

  • Avoid going down the rathole to chase documents trail, matching with PO, and bank details. If a receipt fails to match your client’s bank feed, you’ll be able to pinpoint exactly when and where things went wrong.

  • Eliminate guesswork with BI on merchant/vendor, past transactions, risk score, and more. 

Great Client Relationships Start With the Right Data

Itemize can be an invaluable resource for accountants and bookkeepers. Having accurate data captured from documents and document journeys gives you usable, real-time information about how you and your staff are interacting with clients, and how clients interact with you.

Learn how you can avoid wasting time on data entry mistakes with Itemize. 

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