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For most of us bookkeeping isn’t exactly a favourite pastime, however with the right tools and a bit of technological knowhow, you can alleviate much of the pain associated with it whilst gaining invaluable management insights.

The first hurdle in bookkeeping often involves managing what feels like a small mountain of receipts and invoices which can turn up by post, email or after shopping. Luckily you can use technology rescue you: for hard copy receipts, simply scanning or taking a picture allows you to seamlessly upload them into your accounting software. Even easier, email receipts can be sent straight to your accounting software, bypassing the need for those photos altogether. What’s more, setting up rules within the software ensures that invoices are automatically assigned to the correct expense account, saving you time as well as avoiding all that tedious analysis.

When it comes to software solutions, there’s a myriad of options available depending on your accounting software of choice. QuickBooks Online users can take advantage of the built-in app, while Xero users can use Hubdoc. For those seeking a more robust solution that also caters to employee expenses, Dext Prepare offers a powerful suite of features.

Efficient bookkeeping doesn’t stop at receipt management. Managing payments can be equally time-consuming and there’s always a risk of mistakes. How often have we inadvertently paid the wrong amount to suppliers or staff? While recipients are quick to flag underpayments, overpayments often go unnoticed. Fortunately, solutions like Wise and Modulr offer streamlined payment processes, helping to minimise errors and streamline your financial operations.

If you’re interested in learning more about any of these solutions, don’t hesitate to contact us. We’d be happy to provide a demo and help you take that first step towards more efficient bookkeeping practices.