Data entry. The bane of everyone’s working lives. If only there were a magic wand that could take the pain of manual data entry away so that we could all focus on the tasks that add real business value… Well, an Irish company called Ocrex has been listening to our ailments and has come up with a fantastic tool to combat the problem. AutoEntry is a data entry automation tool that integrates with various accounting packages, including Xero.
Automation for manual data entry
These days, everyone is talking about automation for the modern business and for good reason. The competitive edge is no longer achieved by having business technology, but instead by how effectively you use it. With leaner processes, results are achieved faster and strategic goals are realised quicker which means time is saved and costs are reduced. This is why companies everywhere are focused on ridding their processes of tedious tasks, and automation is a very effective way of doing this. AutoEntry is one such smart automation solution for businesses that is designed to save you hours in bookkeeping.
How does AutoEntry work?
Let’s jump straight into the practicalities of using AutoEntry. You start off by simply scanning, emailing or taking a picture of your document and uploading it to the bank statement, sale or purchase module on the AutoEntry dashboard. From there, AutoEntry will work on extracting the data in the background. Once it is complete, you will receive an email notification. You can view and verify the extracted data and then publish the sales and purchases directly to your accounts software. It’s good to know that bank statements are the only item that must be downloaded from AutoEntry and uploaded to your accounts software (unless you’re using live feeds in Xero). AutoEntry will create a digital record of all sales, purchases and bank statements which means users no longer have to hang on to paper copies of their documents. You will also see a digital copy of any sales and purchases in your accounts software. The great thing about AutoEntry is that it is designed to work with your current practices. AutoEntry will remember which supplier accounts, nominal codes and VAT rates you apply, making the process quicker each time.
AutoEntry offers so many benefits
Apart from automation being cost effective all on its own, AutoEntry’s own business model is sure to make your CFO smile. You don’t have to buy a separate subscription if you run more than one company because the pricing is based on the volume of transactions, not the number of businesses or users.
Easy access for those who need it
If you’re not the person in charge of review reconciliation, you can simply invite team members, bookkeepers and your accountant to view and review items. You can also choose to share single transactions with third parties. It is very collaborative while letting you stay in control of who sees what. The actual uploading of data is also easy for everyone. You can submit PDFs of images, either scanned or snapped with your smartphone. You also get a dedicated email address, making it easy to forward files. Your suppliers can use the email address to send your invoices directly to AutoEntry if that suits them best.
Simple set up
Setting up your account is very simple, and the seamless integration with Xero means you don’t need any technical knowledge to get going. It also integrates with QuickBooks Online, Kashflow, Sage 50, Sage One, Reckon and others.
Just like how Xero learns to recognise repeat transactions, AutoEntry will remember patterns in how you assign supplier accounts, tax codes and nominal accounts, giving you smart analysis of inputs. Its intelligent system means that complicated documents are a breeze – imagine having a purchase order with 20 line items and needing to input that manually! With AutoEntry, it just happens, and you can even assign different VAT rates to different items in the same document without things getting complicated.
Your data is secure
As you would expect, data security is taken very seriously. Data encryption, backups and various fail-safe protection are in place to make sure your data is protected.
There is a mobile app
The mobile app is available for Android and iOS devices. It’s simple to navigate and makes capturing and uploading your images on the go really quick and easy. Simply snap a picture and hit the upload button to process the image. Users can also monitor the progress of their items in real time. With technology delivering solutions such as AutoEntry, it makes sense to stop manual data entry and embrace automation! It really is a great tool if you are suffering from high volumes of transactions. Now you can do more work in less time and at a minimum cost. Great stuff!