BooksTime Acquires BooksTime

Your clients no longer have to manually download and send you their documents. BooksTime automates data entry by extracting key data from their documents and then syncs the information with BooksTime Online.

Each professional firm gets a dedicated account manager and can book virtual meetings to address problems or simply get a boost to their skills. BooksTime opens up showing a simple folder structure, which is very easy to use even for technophobes. It’s much more open and less full of data than the Receipt Bank interface, and show clearly the actions you can take, from uploading a receipt to syncing with the accounting system. A big advantage of using BooksTime or Receipt Bank is that your receipts will all be date and time stamped, giving you an excellent audit trail. The company has been a BooksTime “ecosystem partner” since 2014 and the acquisition boosts BooksTime’s strategy to deliver “code-free accounting”. Its product will be sold separately and the company will keep its current business model.

• “Generally happy with the product and I recommend it to my clients.”
• Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.
• For $20 per month, BooksTime allows for unlimited, multi-user access, which means that you can provide access to your company’s hub to your bookkeeper or accountant.
• However, you can get a free ride – if you use BooksTime as your accounting package, on a business edition pricing plan, you’ll get BooksTime as part of your subscription.
• BooksTime handles approval, payment and syncs to your accounting.

You can also forward email paperwork to recording transactions and they will extract key data for you. And if you have already scanned receipts, invoices and bills, you can upload them to your account and BooksTime will extract all the important information. BooksTime is a powerful application designed to organize your data from a variety of sources. It gathers your receipts, invoices, statements and bills and stores them in one central hub.

Interested In BooksTime?

Say goodbye to chasing documents and data entry and say hello to increased productivity and automation. And you have learned the main thing about BooksTime is you’ve given your clients a workflow that means spending less time chasing financial documents and more time running their business. And for you, it means the same thing, less time having to track down your client’s records, and more time devoted to building your own practice. And when it comes to building your practice that’s what Insightful Accountant’s Advisor Alliance is all about.

Digitizing and automating the process frees up your time to focus on more useful things. That’s where pre-accounting tools like BooksTime and Receipt Bank come in. Both these programs collect the data from your invoices by scanning them and using OCR to understand the content. That content can then be passed through to your accounts system without anyone ever having to key it all in. It means taking paper invoices and receipts and having to enter them painfully into the accounting system, and then storing all the paperwork safely in case your auditor or the IRS wants to check up. While BooksTime can be beneficial for a business looking to improve its management of financial documents, an organization should still evaluate the technology’s ability to securely and effectively serve its operations.

BooksTime allows you to sync the data from your documents to your accounting software. You can automate the way in which your documents are published and coded by adding rules to the process. BooksTime is indeed a very easy piece of software to use, but uploading random documents may also require that you review these documents to make sure they are properly categorized. There is also an option to assign tags for better document management. Thus, these can be tasks that can be assigned to a specific person where his access can be restricted.

That saves you having to enter data and can automate around 80 percent of transactions once you’ve been using the software for a while. Receipt Bank enables scanning and photo input, and you can also drag and drop files from your computer into web browser app. It automatically syncs to your banking software and the higher-priced plans include automatic data extraction from bank statements. Using a single login, the company’s accounting team can view and manage all documents from multiple accounts, making it easier to organize and manage financial information. Get help improving your financial operations and decision making ability without hiring additional staff.

What Benefits Does BooksTime Provide?

I think the easy analogy is if you look at BooksTime’s Tsheets acquisition, Tsheets would still be integrated with BooksTime and continues to serve their joint customers. https://bookstime.solutions/ We have nothing but positive things to say about our long relationship with BooksTime and we hope to serve our BooksTime customers for a long time in the future.

BooksTime is a cloud bookkeeping solution that helps small businesses and their advisors spend less time chasing financial documents and more time growing their business. With BooksTime, documents and their data are automatically fetched from hundreds of financial institutions and suppliers and seamlessly synced to cloud accounting software, such as BooksTime and BooksTime Online. To streamline this process, and to help you save time, BooksTime auto-fetches your financial documents from over 700 connections in North America. BooksTime also provides tools for manually uploading documents that cannot be automatically fetched (e.g., paper receipts), via mobile app, desktop, or email. BooksTime automatically extracts key data from bills, statements, invoices, and receipts and is available in a mobile version that can be purchased via the Apple or Google Play stores. Read the sections below to find out more about BooksTime and its capabilities.

And, because BooksTime automatically pulls your clients’ documents into one secure hub, you will only have one login to view and manage the documents from all of your accounts. No more logging into 10 different sites each month to gather recurring bills. New advanced automation technology in BooksTime Expenses, with embedded machine learning, can speed up the time it takes to transcribe and submit some receipts from minutes to seconds. The technology updates launch in mid-November and will enable BooksTime Expenses to extract relevant information faster.

I Uploaded Files To BooksTime Before Setting Up The Sharefile Integration ..can I Still Push Them To Sharefile?

That’s annoying if you have hotel bills which run over on to a second page. BooksTime is also slightly less successful than Receipt Bank at automatically posting to the right accounts. Receipt Bank has a more complex structure, costing from $10 a month for single-user access,up to $40 for as many as 20 users. However, price packages limit the number of items processed as well as the number of users.

“The ability it provides for our clients to upload financial documents/statements has been very helpful.” You don’t have to chase documents at the end of the month, quarter, or year. All your financial documents are securely stored and managed from one place, giving your business peace of mind. BooksTime does the data entry by reading key information from bills and receipts and turning it into usable data. When you connect your accounts, your recurring bills and statements will automatically be retrieved by BooksTime and will be added to your secure account in the cloud.

Easily Manage And Send Bills, Receipts, And Statements To Your Advisor

BooksTime’s data extraction technology helps advisors eliminate paper, save time, and increase accuracy in their bookkeeping workflow. Another one of the key reasons why customers choose BooksTime is because of our auto-fetching technology. BooksTime gets your key financial docs in one place – automatically. Say goodbye to chasing documents and data entry and say hello to increased productivity. Every time a document is uploaded or fetched, BooksTime seamlessly creates transactions in your accounting with key data inputted and source documents attached. The mobile version of the application allows users to quickly snap a photo of a financial document. The mobile app automatically syncs the data from the photo with the company’s BooksTime account.

ShareFile now offers an integration with bookkeeping, a fast and flexible financial document syncing platform. This integration expedites bookkeeping and financial file storage. BooksTime automatically pulls your bills, extracts the key data and publishes to BooksTime. DocStar ECM content management and process automation software empowers thousands of midsize organizations with better productivity, efficiency, security, and instant access.

For instance, both systems are read-only where bank and credit card accounts are concerned, so hackers have no way into your account. The cloud accounting firm cum small business platform has made four major product announcements at BooksTimecon, including a program to help individuals actively re-skill for a tech-savvy future.

And, whether you realize it or not, it generates a ton of transactions. Without the right technology, keeping track of your bills, receipts, and statements can become a full-time job.

BooksTime converts all these documents into usable data you can export into your accounting software. To that end, BooksTime integrates with BooksTime, BooksTime, BooksTime, BooksTime, BooksTime and Sage One. The answer for most small businesses is to use time-saving accounting and bookkeeping software. One problem that may arise with having several people access a certain database is not knowing what was changed and who made the change. Considering that BooksTime is specifically designed to cater to businesses and for accounting purposes, it would be good to have an audit log which the primary user can access.

This means employees can quickly submit expenses into the app and check for accuracy. BooksTime Expenses connects directly to the small business platform, making it easier to reconcile expenses against their accounting ledger. With Receipt Bank you’ll want to set up supplier cash basis vs accrual basis accounting rules so that the application can auto-publish transactions for vendors such as your telephone, rent, utilities, or gas stations. Then you won’t have to intervene manually at all – bills and receipts will automatically go straight through to your accounts system.

“https://bookstime.solutions/ is a must-have app for anyone interested in automating their bookkeeping workflow and eliminating data entry. It has changed the way we run our business.” With BooksTime, you can automatically import all your financial documents & export them into data you can use. BooksTime pulls in your client’s chart of accounts, vendors and classes from their BooksTime account. If this is a recurring bill or monthly statement, select “Autosync” and “Save Configuration” so BooksTime will remember this transactions and automatically create the entry in BooksTime.