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App of the Week – AutoEntry

With every task we do, we always ask the question “Is there a better way?” And with day to day bookkeeping – YES, there is! That’s why AutoEntry is our choice of The App of The Week.

AutoEntry simplifies your business’ bookkeeping. It eliminates manual data entry for accountants, bookkeepers and small businesses. It automates the extraction and processing of bills, invoices, expenses and receipts and inputs them directly into your accounting solution.

It is perfect for small and medium businesses across all industries where volume of invoices and receipts is high. No more manual data entry of invoices, receipts, bills or statements. Simply email, scan and upload, or snap with your mobile app.

Features

  • Submit Documents – No more manually inputting invoices, receipts or invoices. AutoEntry extracts the data you need and publishes to your accountancy package.
  • Data Security – AutoEntry employs best practice security policies including encryption across the platform.
  • Full Line Item Capture – AutoEntry captures full line items, including the description, unit price and quantity for each line, with verified accuracy.
  • Item line settings – Apply rules to allow AutoEntry to ‘remember’ specific line item descriptions, or certain words within a description.
  • Purchase Order Matching – AutoEntry syncs captured invoices to matching open purchase orders.
  • Document Storage – Once AutoEntry has posted your data, it creates digital records, so users no longer needs to hang on to large quantities of paper documents, with client data stored securely in the cloud.
  • Integrate seamlessly – It integrates with your accounts software including Xero, QuickBooks Online, Kashflow, Sage 50, Sage One, Reckon, Freeagent and others.

 Additional Features

  • Data extracted & verified – Remove manual errors and rely on quickly searching secured stored, digital copies.
  • Smart analysis – Easily submit invoices, expenses and receipts as you get them, on the go.
  • Auto-publish – Seamless automatic publishing of verified data into your account software.

 How it works

  • Capture and submit documents – Forward emails from suppliers, snap receipts on the mobile app, or scan and upload to the website.
  • Accurate, automated data extraction – Data is processed and verifies before applying remembered Supplier, Tax Code and Category rules.
  • Seamless integrations – The add-ons ensure the seamless automatic publishing of verified data in your account software

Benefits

  • Save time – No more manually inputting invoices, receipts, expenses or statements. AutoEntry extracts the data you need and publishes to your accountancy package.
  • Paperless – With data stored securely in the cloud, there’s no need to store, file, print and copy paper documents anymore.
  • Integrations – Seamless automatic publishing of verified data into your accounting software.
  • Mobile app – Submit invoices, receipts and expenses on-the-go via the mobile app for iOS and Android devices.                                                                                                                       

Pricing

Powered by AI, AutoEntry is becoming increasingly sought after, due to its accuracy, speed and impressive range of in-built features. And, as well as being the smartest solution out there, with its flexible, pay-as-you-use pricing plans, AutoEntry also offers the best value for money. Users only pay for the documents they upload onto the platform, as needed month by month. Adding more companies or employees incurs no extra fees, meaning the whole team can make use of the solution without any fuss or extra expense. Advanced pricing plans available for firms with a large volume of documents.

By using AutoEntry, your businesses gain the following benefits:

  • Reduce the time and cost spent on manual data entry
  • Eliminate human error
  • Improve service turnaround times
  • Submit receipts and invoices on-the-go with its mobile app
  • Drive employee engagement
  • Store data more securely in the cloud

 AutoEntry + Xero

AutoEntry works by capturing and analyzing details from paper documents, before posting this information into a user’s Xero account. By leveraging the solution’s in-built intelligence, the data is entered into the correct fields every time, so there’s no fuss or room for error. 

 

Getting started

  1. Log into your AutoEntry account and go to ‘Company Setting’
  2. Click on the ‘Integrations’ tab and select Xero

Link your Xero with AutoEntry so that when you Publish your receipts or statements, they will directly be uploaded into Xero.

 With AutoEntry, you can say goodbye to piles of paperwork and hours spent typing up data, and get back to what really matters, serving their customers and growing their business. If you need help with setting up AutoEntry or integrating it with Xero we, at Cloudit Bookkeeping, will be happy to assist you.

4 Easy Steps to Profit Success

Small Business Profit Success

Do you find yourself working long hours with not much profit to show for it? Do you want to see more money in the bank account just like you imagined when you started your own business?

Then it is time to take action and make the business work for you.

Start your journey to profit success with these 4 easy steps right now and enjoy leaner and healthier businees.

  1. Evaluate every expense which goes through your business and cut out anything that is not vital to generate and support sales. Be ruthless. Find and cut out those subscriptions for services you haven’t used in a while, extra stationery and gadgets which don’t improve sales. Look at your rent, insurance, utilities, mobile contract – can you find a cheaper alternative?
  2. Shop around for better deal on your direct costs. If you can buy in bulk to achieve better gross profit margin, do it. Or change suppliers to save cost. Don’t get stuck with the same old because it’s easier.
  3. Calculate your gross and net profit margin percentages. Once you’ve followed step 1, your overheads are stripped to bare essentials and staying fixed month on month. To increase your net profit figure work on your gross profit margin and turnover. And that’s the part you are good at.
  4. If you were to increase your product or service sale price by 2, 3 or 5%, calculate how much more net profit this will bring you with current customers and current overheads. The amount would be worthwhile and it is money in your pocket.

Make these changes today and you will see an immediate effect on your bottom line. And if you need to talk to a qualified bookkeeper to get your financial reports together and make sense of them, we are here to help.

We wish you small business profit success!