The Worst Accounting Advice We’ve Ever Heard

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    There’s plenty of advice available online – some good, some bad, and some just plain awful (some people even use Wikipedia for advice...). The real challenge comes in determining what you should listen to and what’s white noise or an old wives’ tale that no longer applies in today’s digital world.

    This is especially true in the accounting industry, where the mixture of traditional and new-age employees can make paving the way forward… murky, at best.

    If Microsoft Excel has always worked, why upgrade? someone might ask. When put into a different context, it’d be similar to asking “Why use a smartphone when my home phone works just fine?” You’re missing out on efficiency, saved money and time.

    We’re here to debunk the worst advice we’ve ever heard and provide tips on taking actionable steps in your accounting processes with Robotic Accounting Automation and proper Document Management Solutions.  

    Let’s get to it!

    “If it Ain’t Broke, Don’t Fix it”

    While this saying has a place, it’s not in today’s business accounting world! Not being open to new, more efficient methods of accounts payable, for example, can mean you’re missing out on opportunities to improve your business and increase overall team happiness.

    New accounts payable processes, such as Robotic Accounting Automation, can minimize time spent on menial tasks and boost your team’s ability to accomplish higher-level (and dare we say profitable) work.

    It’s important to note that Robotic Accounting Automation isn’t replacing team member jobs; it’s merely enhancing their ability to do meaningful tasks, which comes into play frequently in accounting. With updated Document Management Solutions, you’ll minimize those annoying iterative processes and instill peace of mind that everything’s in its rightful place.

    “Submit Your Payments on Time”

    Ever heard the phrase “if you’re on time you’re late, and you’re only early if you’re exactly that – early”? The same can be said for the accounts payable process, and simply sending or submitting payments on the day you’re supposed to means you aren’t taking advantage of better options.

    Instead, consider early payment discounts and other methods you may not be aware of that can digitize your invoice approval process and make payments painless and easy.

    “Double and Triple-Check Your Work”

    While this may intuitively seem like sound reasoning, it’s not! Doing a double and triple check when you don’t have to is a time suck!

    Think about it – if you look at something multiple times and then pass it along to someone else for approval, it can go through rounds and rounds of edits that may ultimately make completing the process impossible!

    Most of your day can be lost to this needless back-and-forth process. Then, there’s the inherent why didn’t XYZ get done conversation. No one wants to have that, especially if so much time gets lost to administrative work. It brews frustration and resentment for team members who aren’t able to work at their peak capabilities.

    Did you know there are Bots that have the ability to check documents for you? Using MatchBot (for 3-way matching) and SyncBot (for automated data sync) can streamline these steps and ensure that your data is accurate.

    A Better Accounting Environment

    Just because something has worked in the past, that doesn’t mean it’s the best way of doing business. With accounting processes, you can get stuck in an iterative cycle that doesn’t leave room for growth or improvement. With Robotic Accounting Automation and Document Management Solutions, everything can be housed in a central repository, without the need for double/triple checks or missed payments.

    To learn more about the Robotic Account Automation solution and how it may be able to help you transform the way you work, check out our free RAA eBook, What Is Robotic Accounting Automation?

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