Bookkeeping can be time-consuming, especially processing journal entries. But did you know you can automate this process? This not only saves time, but also prevents errors. Here you can read how to automate purchase and sales journal entries and combine them with diaries.
Journal entries are the core of your accounting system. They show exactly what costs and revenues there are. Purchasing, for example, involves the costs of suppliers, while in sales you record your turnover.
Why automate?
Processing journal entries manually is not only time-consuming but also error-prone. By automating, you work faster, make fewer mistakes and keep more time for other important things.
How does automation work?
Many modern accounting programmes offer smart features that allow you to streamline your administration. For example, by linking your invoicing system to software such as TriFact365’s, purchase and sales invoices are automatically recognised. The corresponding journal entries are presented at the same time.
Diaries: a useful tool
Diaries are an essential part of your administration. They are a logical collection place for transactions, such as a purchase journal for supplier invoices or a sales journal for customer invoices. By combining the use of diaries with automated journal entries, you keep your administration orderly, gain quick insight into your financial situation and work more efficiently.
An example
Suppose you receive an invoice from a supplier. In an automated system, this is posted directly to the purchase journal, while the journal entry is created automatically. Here, the costs are posted to the correct ledger account and VAT is recorded separately. This works the same way for sales invoices: the invoices enter the sales journal and both turnover and VAT are immediately processed correctly.
Why wait any longer?
Automation combined with smart use of diaries allows you to work faster and more accurately. This makes your accounting easier and more efficient. See how these features can make your accounting a lot clearer today!
