Accounting Software Saves Time


Time is money. Hence, businesses are required to ensure that they value time as much as they value money. One of the primary objectives of most enterprises is to maximize profits – signifying that with higher profit goals, they must save crucial business hours that would otherwise be wasted. The Japanese concept of Lean Production calls for eliminating waste or ‘muda.’ This waste can take various forms, including unnecessary time to execute a specific task. 

Lean principles dictate that lead time can be reduced by avoiding reworks. The task must be done to perfection on the first attempt so that no rework is necessary; the more rework a task demands, the higher the wastage and the lower the efficiency. Therefore, businesses must save crucial business hours and implement lean production within their organization to inseminate an efficient work environment.

Rather than manual tasking, businesses can salvage time through the implementation of accounting software—ERP (Enterprise Resource Planning). Accounting software enables various benefits that can effectively save crucial business hours that would otherwise be wasted. 

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With accounting software like QuickBooks, most of the account creation process can now be automated using built-in analysis tools and templates. Rather than manually creating ledgers and financial statements in Excel, using accounting software that includes the relevant templates is easier and saves time. Bookkeeping was initially automated to avoid human error, but automation such as this brings other laudable benefits. Now, you don’t only eliminate error; you also save time and any costs involved. 

Invoicing and Payments

Accounting software allows for automated invoice creation and updating. Moreover, payments can systematically be processed in time for both the vendors and customers from within. Creating invoices can be a tedious task owing to its repetitive nature. This repetition may effectively be reduced through automatic invoice generation for the various vendors. 

Payment runs will highlight the accounts that require payment. The system will automatically make changes to these respective accounts without manually posting a debit and credit entry within the innumerable accounts of the General Ledger. Automated invoicing and payments are yet another way to cut down on crucial business hours that may now be allocated elsewhere.

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Report Generation and Distribution

Accounting software may be configured such that daily, weekly, monthly, and yearly reports can be processed and prepared at preset time intervals. Moreover, the accounts can be integrated to feed relevant data into the reports. For instance, each employee’s daily time-in procedure will transfer data into their weekly attendance report. This will save time when preparing each employee’s weekly and monthly attendance sheets. In addition to real-time reporting, these reports can be distributed by integrating the email system with the accounting software used. This allows for timely reports to be sent to all authorized recipients. Imagine the time it would consume if this had to be managed manually.

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Inventory Management – Restocking

Stock-outs can be a nightmare for many businesses, especially ones with a well-established market reputation. For other, lesser-known ones, turning down customers for ‘out-of-stock’ products can be detrimental and may eventually lead to a diminishing customer base. Automated refurbishment can be actualized through accounting software to avoid stock falling below the safety margin or the Economic Order Point (EOC). In addition to avoiding stock-outs, crucial business hours can be redeemed. The business may as well use this to set itself apart from its competitors. Stock-outs give a very poor first impression to all potential customers.


An accounting software such as Xero or QuickBooks can be used to save crucial business hours. Every second you save may be utilized to perform other, more productive duties, thereby reducing waste and fostering efficiency. Moreover, resource allocation can be improved mainly by using accounting software. The redundant resource is an expense in itself.

ADP. Payroll – HR – BenefitsAbout Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.LastPass – Family or Org Password Vault