Tax season can be extremely intimidating for small business owners. The weighty task of sorting through a year's worth of financial transactions, ensuring accuracy, and meeting deadlines — all while continuing to day-to-day operations — can be stressful enough.
But for businesses still relying on manual accounting processes, this time of year can be overwhelming. How can small businesses transform tax preparation from a burden into a manageable, and even streamlined, process? In a word: automation.
Automation ensures accuracy
Manual invoice management and data entry provide ample opportunities for human error, even in the best of circumstances. That’s why automation can be a true game-changer when it comes to year-long accuracy and streamlined tax preparation.
Not only can an automated software solution integrate with your existing financial systems, but it will categorize transactions, flag potential issues, and simplify your tax prep. Additionally, automated systems create a detailed digital paper trail, ensuring your books are always proactively prepared for an audit.
Financial automation helps with more than just data-entry mistakes; it’s also a huge time saver. Your team will be freed up for more high value activities when they no longer need to spend hours on redundant tasks which automation handles efficiently.
Guesswork and mistakes can be eliminated from financial transactions and tax filings, and automation can help you scale. By keeping clean records, you’ll always be positioned for current and future team members to access the latest and most accurate information.
Automation streamlines processes
Platforms like Plooto offer direct online tax payments, streamlining the process, ensuring timeliness, and helping avoid penalties. Additionally, these systems provide instant confirmation and digital records of all transactions to make tracking and management easier.
Tax preparation is a necessary function when running a company. But it doesn’t have to be more arduous than necessary. Automation is the key to simplification for small businesses, providing improved accuracy, a reliable digital record, and an easier way to keep your financial house in good order.
Instead of spending hours trying to collect information and crunch numbers, avoid the overwhelm with software designed to help companies like yours. Not only will you gain the peace of mind of more easily keeping up with new requirements in an ever-changing tax landscape, but you’ll be able to remain focused on nurturing your business—even through the demands of tax season.
Plooto helps businesses automate payments and workflows to eliminate manual data entry. Try Plooto for free for 30 days to see how much time and money automation can save.