Accounting automation solution

At SmartSoftware, we transform your accounting operations by automating tedious tasks and eliminating manual processes like manual bookkeeping, invoicing, payables, receivables, and payroll tasks. Our advanced accounting solution seamlessly integrates with your CRM, HRMS, inventory, and asset management systems, ensuring accurate financial reconciliation, efficient asset management, and compliance with region-specific tax filing. Partner with SmartSoftware for a comprehensive, streamlined approach to accounting solutions.

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What do we offer?

Bookkeeping

SmartSoftware accounting solution automates the aggregation, processing, and recording of financial transactions across your enterprise. This leads to a significant improvement in productivity, allowing accountants to focus on strategic tasks rather than manual data entry. Our accounting solutions enhance accuracy and consistency, minimizing the risk of errors and discrepancies.

Document processing

Our document processing solution leverages AI, RPA, and OCR technologies to handle financial documents with minimal human intervention. Automated document processing enhances efficiency and allows your team to focus on higher-value activities. Using advanced technologies, financial document processing can be made 2–3 times faster and over 95% more accurate. Automation reduces the need for human involvement, ensuring precision and efficiency in handling documents.

Financial calculations

SmartSoftware accounting solutions automate the most tedious and error-prone aspects of accounting, such as calculating payment amounts and accounting metrics. This ensures instant and precise calculations, reducing the likelihood of errors and saving valuable time. Our accounting automation solutions streamline workflows and enhance the accuracy of financial data.

Payments

Our accounting solution can accelerate payment processes through automation, which improves vendor satisfaction and increases the productivity of the payment team by 40–400%. This includes automating payment scheduling, approvals, and transactions.

Reconciliation

At SmartSoftware, we streamline your financial reconciliation statements by automating the aggregation and multi-way matching of financial transactions. This accelerates the financial reconciliation process up to three times, ensuring accuracy and consistency in your accounts with minimal manual effort.

Financial reporting

SmartSoftware accounting solution can generate financial reports three times faster, ensuring full compliance with reporting requirements. By automating report creation, review, and distribution provides timely and accurate financial insights, enabling better decision-making and strategic planning.

SmartSoftware’s accounting solution: Key features

Journal entry automation
  • Automatically create, update, and approve journal entries in the general ledger and sub-ledgers for external and intercompany financial transactions, including multi-currency transactions.
  • Use customizable journal entry templates for various ledgers.
  • Schedule recurring and reversing journal entries.
  • Attach source documents (invoices, receipts, checks, payroll reports, leases, etc.) to each journal entry automatically.
General Ledger (GL) automation
  • Consolidate financial transactions across multiple intercompany ledgers and record them in the GL automatically.
  • Implement rule-based GL coding and classify transactions by category (asset, liability, equity, revenue, expenses, etc.).
  • Calculate GL balances automatically.
  • Re-allocate accumulated account balances to branch/subsidiary accounts based on predefined rules.
Automated invoicing
  • Generate template-based invoices, including recurring invoices.
  • Calculate and apply taxes, discounts (including those for early payments), additional charges (e.g., interest on late payments, insurance, carriage), and billable expenses automatically.
  • Automate the workflow for multi-department invoice approval.
  • Schedule invoice sending to customers.
Accounts Receivable (A/R) automation
  • Automatically calculate received, due, and overdue amounts, DSO, A/R turnover ratio, and more.
  • Collect payments via methods, like bank transfers, wire transfers, ACH, credit cards, checks, or direct debit.
  • Schedule collection notifications for due payments to customers via email or messaging apps.
Accounts Payable (A/P) automation
  • Automatically calculate amounts paid, partially paid, owed, DPO, A/P turnover ratio, etc.
  • Automatically capture, extract, and verify purchase invoice data against the related purchase orders.
  • Schedule payments to suppliers, vendors, and governmental entities using predefined payment methods.
  • Facilitate multi-department payment approval.
  • Notify users of upcoming payment dates.
Expense accounting automation
  • Capture, extract, and validate data from receipts for business-related employee expenses (travel, transport, telecoms, etc.) automatically.
  • Enable multi-department expense approval.
  • Generate expense reports automatically.
  • Calculate reimbursement amounts for each employee automatically.
  • Record data on reimbursable employee expenses in the expense and general ledger.
  • Schedule payments for employee reimbursements.
Fixed asset accounting automation
  • Calculate, record, and track the original and capitalized value of fixed assets across multiple locations and regions.
  • Automate fixed asset depreciation with various accounting methods (straight line, double declining balance, units of production, and sum-of-the-years’ digits) or customize your schedules.
  • Track an asset’s tax basis.
Inventory accounting automation
  • Automatically generate inventory records from purchase orders.
  • Record and track inventory values across multiple domestic locations, regions, and intercompany entities.
  • Manage inventory at various stages of development and production, such as raw materials, in-progress goods, and finished goods.
Payroll automation
  • Calculate employee salaries, overtime, bonuses, commissions, deductions, and more automatically.
  • Record and monitor payroll amounts in the payroll general ledger.
  • Schedule payments to employees.
Tax management automation
  • Calculate sales, income, and other taxes based on regional tax rates automatically.
  • Record and track calculated tax amounts in the tax ledger and general ledger.
  • Automate tax filing as per region-specific regulations.
  • Schedule tax payments.
Automated reconciliation
  • Reconcile financial data in bank statements with GL, A/P, and A/R records automatically.
  • Remove duplicate transaction records automatically.
  • Identify outstanding transactions.
  • Notify accountants of reconciliation discrepancies.
  • Automate intercompany reconciliation.
Reporting and compliance
  • Schedule and generate financial reports (monthly, quarterly, yearly) by region, entity, or consolidated reports, including income statements, balance sheets, cash flow statements, tax summaries, and more.
  • Ensure compliance with GAAP (ASC 606 and IFRS 15) and industry-specific regulations.

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Why work with us?

Expertise and experience

At SmartSoftware, we bring years of expertise and experience in accounting automation. Our team consists of industry experts who understand the intricacies of financial processes and the unique challenges faced by businesses. This deep knowledge enables us to deliver tailored solutions that meet your accounting needs.

Comprehensive solutions

We offer a comprehensive suite of accounting automation features designed to streamline and optimize every aspect of your financial operations. From journal entry automation and invoicing to payroll and tax management, our solutions cover all critical areas, ensuring efficiency and accuracy across the board.

Customization and flexibility

We recognize that every business has unique requirements. That’s why we provide customizable solutions tailored to your specific workflows and processes. Our flexible approach ensures you get the most out of our software, with features that align perfectly with your business needs.

Seamless integration

Our accounting solutions seamlessly integrate with your existing systems, including CRM, HRMS, inventory and asset management. This ensures a smooth transition and cohesive operation, allowing you to maintain continuity and leverage your current investments in technology.

Enhanced productivity and accuracy

By automating tedious and error-prone tasks, SmartSoftware significantly enhances productivity and accuracy in your accounting processes. This not only saves time and reduces costs but also minimizes the risk of errors, ensuring reliable and precise financial data.

Scalability and growth

SmartSoftware’s scalable architecture ensures that our accounting automation solutions can handle increasing transaction volumes and complexity, supporting your business’s expansion without compromising performance.

Commitment to compliance

We prioritize compliance with all relevant financial regulations and standards, including GAAP, SOC1, SOC2, SOX, GDPR, and regional tax regulations. Our software is designed to help you meet these requirements effortlessly, reducing the risk of non-compliance and associated penalties.

Dedicated support and training

We are committed to your success and provide dedicated support and training to ensure you make the most of our solutions. Our customer support team is always available to assist with any questions or issues, and we offer comprehensive training programs to help your team become proficient in using our software.

Innovative technology

At SmartSoftware, we leverage the latest advancements in AI, RPA, and OCR technologies to deliver state-of-the-art accounting automation solutions. Our innovative approach ensures that you benefit from advanced technology, and stay competitive in the business landscape.

Proven track record

We have a strong track record of completing various projects across diverse industries. Our clients rely on us for our dependable service, specialized expertise, and the measurable results we consistently deliver. Partnering with SmartSoftware means you are working with a trusted provider who is dedicated to your success.