Introducing The New Data Automation Platform That Will Benefit Bookkeepers And Accountants

John, what is this new data automation platform that you guys created and why should bookkeepers care about it?

A couple of years ago, I was talking to an accountant who does national speaking tours across Canada. And there is an interest from bookkeepers and accountants around data automation.

Cloud computing had come out so you have Xero, Quickbooks Online, and Sage One. And they have a lot of these cool functions that allow bookkeepers to do their jobs much more quickly than in a traditional desktop application. And so, you have digital bankfeeds, auto-categorization of transactions based on vendor.

But none of these features are available to the desktop version. So what we wanted to do is create a product that brought all of the best components of cloud computing and all the advantages and brought it down to the desktop.

And so, the Data Automation platform is the result of that. It’s about a year and a half worth of work. It’s fairly sophisticated and we give all the advantages to the bookkeepers and accountants that want to use the desktop version of the accounting platform but have the advantages of cloud computing.

So, we have receipts and data extraction from receipts, data extraction from bank and credit card pdfs. And the database does not even need to be at the bookkeeper or accountant’s location. We all do it through a web interface and we can do all the coding in our cloud SAAS platform and then you simply hit the synchronization button to pull all those transactions in the bookkeeper’s database.

It allows bookkeepers to be much more efficient when they’re doing bookkeeping for clients that are using the desktop application.

How Business Owners Can Leverage Technology To Help Reduce Bookkeeping Costs

What can a business owner do to leverage technology to help reduce bookkeeping costs?

We’ve been working on solving that problem for the last year and a half. And we’ve developed this Data Automation platform that business owners and their staff can use to drive down the actual bookkeeping costs.

For example, you’re a construction worker and you’re going to have to take pictures of invoices that your staff members pick up. You can email it to us and we can extract the data and allow your bookkeeper to code those transaction much faster than waiting for the people to come back in the office daily or weekly.

Our platform works with Quickbooks Desktop Pro, Premiere and Enterprise and it allows your staff to co-transact much faster and also to memorize transactions. So if you’re getting gas receipts, they can be automatically coded to gas expenses.

So the idea is that, hopefully your bookkeepers can spend 50% last time doing data entry work and leveraging the time left over to write more value numbers to you as a business owner.

What To Do When Your Client Won’t Provide You With Their Usernames And Passwords for Their Online Banking

John, what can a bookkeeper do if their client doesn’t want to provide them with the passwords and usernames for their online banking account?

The nice thing about Quickbooks Online, Xero and Sage One, is that there’s an interface to allow the business owner to put in their banking credentials, their username and password and for those platforms to download those transactions into the platform and coding.

If you’re running the desktop version, and the client doesn’t want to give you that capability, well then you lose that ability to do coding on a weekly or monthly basis.

We built into our platform the ability to hold down those banking and credit card transactions without you having the username and password. You simply send off an email to the business owner with a link, they log in with their credentials. It’s the same one that Quickbooks online uses and we pull all those transactions down on a daily basis.

They are there in our user interface via code whenever you have the time, so everyday they are pulled out. So that’s the advantage of our platform, you get some of the advantages of Quickbooks online but for your Quickbooks Desktop application.

How Data Automation Software Pulls In Sales Information From Different Applications

John, is your software able to pull in other sales information from different applications? For example, if there was a hair salon or retail store that wanted to add their sales information to the software, can they do that?

Absolutely. We have a couple different capabilities. When you’re using our point of sales software for a hair salon, clothing store or a coffee shop, usually the software has some daily sales summary report. So all your client has to do is print off that daily sales summary report as a pdf and upload it to our platform or put it in a Dropbox folder on a local machine.

We’ll extract the data from the daily sales summary report and you create some rules to point the data from that report into various GL accounts in Quickbooks.

The other way is that if you’re using a product like Mind Body Online which is an online spa application, because there’s a public API, we can actually pull in that data automatically into our platform and then push it out to the Quickbooks Desktop software.

So any sort of web-based software application that your clients are using that has an API, we can pull that data out. If they don’t and it’s a desktop application, then we can print it to a pdf and we can pull that data out as well.

How Can Bookkeepers Leverage Cloud Computing While Using Quickbooks Desktop

Our software provides all the best that cloud computing has to offer – artificial intelligence, data extraction from receipts, digital bank feeds from bank and credit card statements as well as general ledger, vendor and customer information from their own Quickbooks database – mashed up in the cloud, wrapped in artificial intelligence to allow them to code transactions up to 50% faster.

That’s really what our platform does, so we get all the advantages of cloud accounting software like Quickbooks online, Xero and Sage One but for the Quickbooks Desktop client.

How Data Automation Software Allows You To Work When You Do Not Have Access to Your Client’s Desktop Quickbooks Software

Just like with Quickbooks online, Xero and Sage One, you can have multiple people accessing the accounting database from a browser. And so we give that same capability to any bookkeepers who have clients where their Quickbooks database is at the client’s site – maybe they are doing all the AR transactions. With our platform, because we pull in the bank or credit card data from all the AP receipts, we allow you to do all that coding within our platform and then once a month can simply do a synchronization with our platform and Quickbooks desktop and we can bring all those AP transactions right into the desktop application.

So you don’t need access to the Quickbooks desktop database to actually enter those AP transactions which can be a great if you have lots of spare time. But it doesn’t often coincide with the client because they are using the Quickbooks database for whatever reason – they don’t have a spare computer to remote into, you can at least get your work done.

How Bookkeepers Can Convert From Annual Bookkeeping to Monthly Bookkeeping.

How can a bookkeeper convert from annual bookkeeping to monthly bookkeeping?

A lot of bookkeeping professionals have ‘annual’ clients. They simply show up once a year with 12 months of receipts, 12 months of credit card and bank statements, and ask to get their bookkeeping done. With our platform, because we have the digital bank feed where we can pull in transactions daily, plus we would encourage the bookkeepers to set up scanning on either a bi-monthly or quarterly basis, it allows you to do all that work either on a monthly or quarterly basis. So, if you’re doing that, then you can start charging your client, ideally, monthly, even if you’re doing the scanning quarterly, because then that client’s now vested in leveraging and using your service because they’re paying a monthly fee, which totals the annual fee, or you can use value pricing. You have your own monthly fee, depending on the value you’re providing to the client. When the pushback from the client is, “Well, I’m only giving you the work once a year, so why would I pay monthly?” the answer is, “Well, we’re pulling all the bank transactions. We’re scanning all your receipts on a monthly, bi-monthly, or quarterly basis,” so we’re doing work throughout the year, and that’s why you’d be paying a monthly fee.”

How We Extract and Reconcile Info to Make Bookkeeper’s Job Easier

How do we make the bookkeeper’s job easier?

The way we can make it easier is that we can extract the data from the PDF to bank and credit card statements, each individual line item. We can extract the data from the receipts and we can join them together automatically. So, when their coded into our interface we’re not just adding the vendor invoice we’re adding the payment as well. It makes the job easier and faster. There’s a capability in there where we call it the memorize transaction feature. So say you upload 1000 receipts and say there’s 337 gas receipts you can do a search for “gas” and pull up all the receipts and code them all to one or multiple vendors into one GL account. You’re coding 300+ invoices in about five minutes which will save you a lot of time.

Learn About Easy Key Strokes That Help You Save Time

This training video teaches you helpful key strokes that you can use when you need to move through your folders quickly to be able to copy or cut and paste into another folder.

The Data Automation Company offers accounting software that has all the advantages of cloud computing that could be easily integrated with your desktop accounting solution. Visit their website at http://www.thedataautomationcompany.com/ to learn more about their software or to leverage their artificial intelligence platform.

Many Envelopes

Many Envelopes by James Elser
Friday April 3, 2015

This weeks scanning stats Tot Time Tot Pages Tot PDF’s
4:29:00 614 366
Name Date Start Time End Time Total Time Tot # Pages # of PDFs Notes
Client 1 4/1/2015 9:30:00 AM 12:30:00 PM 3:00:00 363 273 95% done for scanning. Lots of stapled crumpled docs.
Client 2 4/3/2015 11:15:00 AM 11:55:00 AM 0:40:00 Sort New Client for Tursa
Client 2 4/3/2015 12:00 PM 12:20:00 PM 0:20:00 222 78 New Client for Tursa
Client 4 4/3/2015 10:36:00 AM 10:50:00 AM 0:14:00 29 15 Lots of staples again
Client 2 4/3/2015 11:00 AM 11:15:00 AM 0:15:00 Video Case study

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