Pre-accounting is an essential step in your finance process. Here's everything you need to know and how to benefit from it.
Pre-Accounting: The essential step to sustain business growth
In the ever-changing digital world, business growth is an obvious goal, whether rapid, continuous or incremental.
However, to guarantee truly sustainable growth, it is still necessary to put in place solid accounting management from the start.
This is where pre-accounting comes into play! We'll explain it to you.
What is pre-accounting ?
Pre-accounting is all the actions preliminary to the actual accounting.
It consists of organizing , entering and classifying your company's financial data before transmitting it to your accountant for final accounting processing.
In other words, it is the first step towards efficient and accurate accounting.
Why is pre-accounting important?
1. Save time and money
Pre -accounting allows you to organize your financial data and transactions in a structured way from the start.
The key word here is “ORGANIZE”. Because this step can quickly become a nightmare for any manager or finance team. It is therefore essential to organize yourself well to really save time.
Rigorous and careful pre-accounting also facilitates the work of your accountant and reduces the time necessary to finalize tax and accounting declarations.
This also allows you to more quickly access your KPIs for your daily management (cash flow, customer payments, suppliers, etc.) (see also below)
In short, mastered pre-accounting means more time to focus on growing your business.
2. Informed decision making
By maintaining accurate and up-to-date pre-accounting , you have a clear view of the financial health of your business.
This allows you to make informed decisions by quickly identifying trends and areas that need attention.
3. Tax compliance
Well-managed pre -accounting facilitates the preparation and timely submission of tax returns.
This way you avoid penalties and problems with the tax authorities.
Digital tools to facilitate pre-accounting:
Pre-accounting is clearly the most time-consuming and least glamorous step. So to really save time on a daily basis and spend as little time as possible on this step, it is essential to digitize and automate it.
Here are some of the tools that will help you.
Online accounting software
Platforms such as Pennylane , Odoo or even QuickBooks (to name only the 3 that we obviously prefer) offer user-friendly features for recording your transactions, generating invoices and tracking your expenses.
These tools automate many tedious tasks and contribute to accurate pre-accounting.
They also offer the advantage of being able to interface with other applications.
So if you already use another pre-accounting tool (including those indicated below for example), you can easily connect it to Pennylane, Odoo or QuickBooks.
READ ALSO: How to switch from QuickBooks to Pennylane?
Managing digital expense reports
Apps like Expensify , Dext , Spendesk or Pleo make it easy to manage business expenses by allowing your employees to take photos of their receipts and submit them easily for approval .
Obviously, each of these applications have their specificities and differences.
We will return to the subject in a future article.
Also note that online banks, such as Qonto also offer this type of applications, to fit seamlessly into the overall finance process.
Online invoicing platforms
Services like Jefacture or Billdu allow you to create and send personalized professional invoices, while tracking incoming payments.
Generally, these simple solutions are aimed primarily at micro-entrepreneurs or the self-employed.
Receipt Scanning Solutions
Apps like Dext in particular allow you to scan and digitally store your receipts, helping to maintain organized documentation.
How to make the right choice and put everything in place?
The answer is simple and we give it to you in a thousand words: call us!
Because yes, Blendy has specialized in digital accounting and the automation of financial processes for almost 15 years already.
We were among the first to embrace accounting digitalization , when subjects like electronic invoices were still an abstract concept for many companies.
So, to support you, we will first take stock of the tools and apps you already use, and identify which ones can intelligently complement your finance process.
Always with the aim of saving you precious time and making your financial data more reliable .
Then, we also help you to connect everything with your accounting system, to configure your elements and finally to validate that everything is correctly in place.
So, want to save time and efficiency for your pre-accounting and your accounting altogether? Now you know what to do 😉
Contact Blendy to benefit from personalized advice and find the pre-accounting solution best suited to the needs of your company and your teams.
With Blendy , French digital accountant take advantage of digital accounting to accelerate your finance process and develop your business.
Pennylane , Dext , QuickBooks and Stripe experts, we support digital and IT service companies, e-Commerce, SaaS, SMBs, in France and internationally.