REALTIME Accounting

(02) 6023 5199


< Back to blog list

Are you paying for inefficient accounting or bookkeeping ?

David Rynne - Sunday, March 08, 2015

This week I have been politely asking a client to go to the bank and get an internet banking login for his credit card. He has been saying "yes I'll do it" for a few months.

Why ? So we can hook the credit card up to the bank feeds into Xero and make his accounting more efficient and timely.

Lots of people get their monthly bank statements in a paper format.  However I'm not going to have my staff manually punch the transactions into Xero. This is 2015, not 1995. It is not a good use of our time and its mind-numbingly boring. 

Data entry sucks.

How much time does it take to enter a month worth of transactions off a bank statement? Depends on the statement. If a statement has 50 lines, you can bet it would take 30-45 minutes. 3 months means anywhere from $100 to $200. And then we have to check it for any transposition errors. That's time we are not getting back. Time wasted. Time gone forever.

Hire a professional to help your business, not do things your way

With a direct bank feed to Xero we can eliminate much of the time consuming data entry. 

Data entry is the key thing that keeps business owners from not having up to date financials. Face it, who wants to do accounting on a Sunday afternoon ?

Data entry is the number 1 pain point for business owners

Data entry is bad.  Automation is good. We would rather spend our time helping business owners make better decisions and grow by providing real advice in real time. 

We are here to help our customers achieve business efficiencies through use of smart technology. If you are interested in spending less time on mundane data entry tasks, we should talk