Part 1: Start the Digital Accounting Journey

More and more companies are moving towards digital technologies in order to simplify business processes and make them more efficient, and the same applies to accounting.

Digital accounting is changing the way companies perform administrative and financial tasks. Your office will no longer be cluttered with file cabinets and piles of disorganized papers and receipts.  Digital accounting digitizes all your documents for you, thus creating a more efficient and high-quality accounting system.

Does "digital accounting" sound too demanding and complicated to you? You only need a few steps to get into this system and leave the tedious manual work forever. Once you dare to take that step, the time and effort required for accounting processes is greatly reduced.

In the first of the four texts of our blog series, we will help you understand the steps you need to take. We will highlight the obstacles you may encounter and the solutions to overcome them. Keep reading to find out more.

What is digital accounting?

Digital accounting involves the creation, confirmation and transfer of financial information in electronic format.

Your documents, transactions and all other accounting processes become fully digital. The first step is to start digitalization.

Like most businesses, you have a financial administration consisting of receipts, invoices, bank statements, and other income and expense documents. This documentation serves as a basis for accounting and must be available for a certain time after admission.

Save time and energy!

The organization of current accounting documents does not have to be complicated and tiring anymore. You've probably filled your closets with documents and folders by now, knowing exactly where the documents from six years ago are.

How much time and effort has that taken you? How much space did this documentation take up?

A good accounting digital solution, combined with or without an accountant and/or tax professional, will save you a lot of time, space and effort. You will no longer waste your time finding documents in a sea of folders, nor will you have to archive each new document separately. Digitalization is the solution to all these problems. It will allow you to devote more time to the development of your business, your team and clients.

Digital means safer.

The transition from paper to digital invoices speeds up and makes your accounting processes safer.

The process of processing the invoice does not begin until the invoice is received. When it comes to a paper invoice sent by mail, this process can add a few days to the beginning of processing the invoice. Switching to digital invoices allows invoices to arrive in a matter of seconds, and the processing process starts immediately, which means you'll get paid faster.

Digital invoice is also more secure because it's easier to track each step, which reduces the number of errors. A paper invoice requires entering data manually multiple times throughout the process. Digitalization reduces the need for data entry, which means that the chance of human error is also reduced.

Do you think digital is the right solution for you?

Digitalization brings a number of advantages. Once you discover these benefits, it becomes a simple and smart move for every business.

The introduction of digital e-invoicing solutions is a key step towards modernizing business processes. This approach allows businesses to efficiently and quickly exchange invoice data with their partners through electronic channels, eliminating the need for manual entries and physical documents. The digital e-billing solution brings with it a number of advantages, including reducing data entry errors, accelerating workflows, better transparency and easier control over financial flows. Also, such an approach contributes to the environmental sustainability of the business, reducing the consumption of paper and resources. Given these benefits, it seems that the adoption of digital e-invoicing solutions is not only a logical, but also a necessary step towards improving business operations and establishing a modern and efficient environment.

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