The Benefits of a Direct Integration with Quickbooks Online
Quickbooks is accounting software that was designed for small to medium-sized businesses. Although Quickbooks is a good accounting platform, it lacks robust features that fall short of other accounting software. This is especially true when your business has multiple legal entities, needs transparency and controls over the accounts payable process and is looking to make your employees more efficient. Integrating Quickbooks with Factura.ai is so simple that it will take less than five minutes to complete.
The following outlines how Factura.ai can transform your business into a modern finance department.
Multi-entity Business
Old Way:
- Quickbooks provides one instance per legal entity. If your business has multiple entities, you need multiple Quickbooks accounts.
- It is time consuming to log in and out of multiple Quickbooks accounts
New Way:
- After the integration, you never have to manually login to Quickbooks to post bills
Old Result:
- Time-consuming
- Annoying
New Result:
- Enables you to utilize Quickbooks for your multi-entity business
- Save lots of time
- Make your employees happier
Transform Quickbooks into a robust accounting system without switching accounting platforms.
The Approval Workflow Process
Old Way:
- Quickbooks does not offer a workflow approval process
- Every business has their unique approval workflow process
- AP requests, tracks, follows up to ensure the invoice gets approved.
New Way:
- Technology takes over the all tasks to manage approvals
- The system notifies all approvers and sends follow up notification if it isn’t completed within a certain time
Old Result:
- Long approval times as approvers are performing their duties, their priorities are not administrative work
- Miss cut off dates for month end closes
- Time-consuming for AP to obtain approvals
- Lowest satisfaction job in AP
New Result:
- Frees up AP time to work on other assignments
- Faster approval times
- Close your books within your cut off time.
Technology that completely eliminates tasks is the optimal productivity application. You don’t have to wait for AP to start the approval process which could take days from the time an invoice is received to the time they get around to requesting an approval. Now, the process kicks off within seconds of the invoice being received, once again saving time and money.
Eliminate Manual Data Entry
Old Way:
- Manually enter the necessary information from the invoice into Quickbooks.
New Way:
- Automated data extraction where the technology reads the invoice
- Knows which data is needed to be prepare and code for Quickbooks
Old Result:
- Excruciatingly slow
- Error-prone
- Not scalable
- One of the most unsatisfying jobs
- Good chance at some point you have double paid a vendor due to duplicate invoices
New Result:
- Happy, more productive employees can be utilized in other value-added assignments within the company.
- Eliminates data entry errors and duplicate invoices, saving the company money.
- Greater likelihood that you will pay your vendors on time eliminating any additional late fees.
Your employees want to work on value-added assignments that make them feel productive and that they are contributing members of the team. Using AP automation software saves thousands of dollars in erroneous payments to vendors including duplicate payments and late fees.
About Factura.ai
Factura.ai is digitally transforming the accounts payable process for multi-unit businesses with 10 or more locations by leveraging AI technology to automate manual data entry and the workflow approval process.
Trusted by multi-unit operators of
