If you manage your company’s accounts, you will be handling a lot of financial data, from revenues and payments to expenses. The challenges usually arise if you are still doing it manually, from organizing to analyzing data.
Using Salesforce as your CRM platform, you can implement accounting systems to monitor your income and expenses, profits, and cash flow.
The Salesforce Accounting apps are built to help you manage your accounting needs from bookkeeping, payment tracking, creating invoices, and generating financial reports. These are solutions that enable you to store and process your comprehensive financial data.
When looking for an Accounting App, you need to check if it integrates directly with Salesforce. Also, assess the capabilities of the Accounting App itself from its core Accounting functions, automation, collaboration, reporting features, and audit trail.
Salesforce has Accounting, but it can’t perform Accounting procedures on its own. It is a very flexible platform, so you can easily integrate Accounting Apps that you can find at Salesforce AppExchange.
Time to ditch the manual spreadsheets and replace them with Accounting Apps. Here’s more reason why you should be using one by today:
You get to save hours of manual work by having a streamlined process for your Accounting requirements. You don’t even need to access details from external sources because you can do it inside Salesforce already.
It also helps you generate reports without even waiting for your team to create one for you. Accounting Apps have built-in report generators to quickly get financial statements, balance sheets, or cash flow statements with just a click of a button.
You can put your data from your bank account, credit card, payroll services, and more into one single platform. It’s much easier to streamline all your billing and ordering processes.
You don’t have to update everything annually now, so automation helps lessen human error and when you are in Accounting, having the correct figures is essential.
With the power of Salesforce, you can link all of your financial solutions together in one single platform. You won’t need to rely on external applications because everything you need is already inside them. The good thing about choosing an Accounting App built for Salesforce is that it is already natively connected, meaning you don’t need to spend on costly integrations.
It’s also vital to check how effectively the Salesforce Accounting App will manage transactions and transfers. Make sure it is capable of linking it to your bank accounts and credit cards.
These types of Accounting apps can support a wide range of accounting needs. Modules can include accounts payable, accounts receivable, expense tracking, bookkeeping, invoicing, and tax management. If you own a small business, you no longer have to buy separate accounting tools to address a specific function.
These are Accounting Apps that cater to a specific accounting need. These usually help small businesses avoid paying for unnecessary functionalities. For example, if you want to automate tax calculation and reporting, you can choose to install a sales tax app that does exactly what you need.
On average, Salesforce Accounting Apps are priced around $ 420 to $ 12,000 per company/user and per month in the Salesforce AppExchange. You can find free apps also.
According to a survey conducted by Tech.co, out of 39 accountants they interviewed, 97.5% have been impacted by accounting technologies, and 75% said it made a positive impact. Almost Using.60% think that the future of accounting technology is going to be very positive. We’ve listed out some of the things that are predicted for Accounting Apps in the future:
80% increased operational efficiency when accounts payable is automated and delivered 366% ROI. RPA helps automate repetitive work, which can be used from bookkeeping to automated tax filing. This will enable you to improve efficiency and reduce workforce requirements.
Finance and Accounting functions are transforming into more analytical, and technology will further transition the Accounting and Finance department into proactive and analytical. The demand for a tech-savvy accountant who has technological skills, strong critical thinking, and problem-solving skills.
Nowadays, businesses are aligning their operations to the advancement of digital technology. Accounting and Finance teams are at the heart of every business, so we can expect to see many digital changes for these industries to support their organizations.