Robotic process automation (RPA) for quickbooks online and quickbooks desktop


What is RPA?

Robotic Process Automation (RPA) is a technology that uses software robots or “bots” to automate repetitive, rule-based tasks in various industries, including accounting. In the context of accounting process automation, RPA plays a crucial role in streamlining and optimizing financial operations. 

Quickbook, on the other hand, is the most popular accounting software that has a market share of more than 82%  in the small-business-accounting market in the United states.

Quickbooks automation using RPA

RPA bots can effectively operate QuickBooks software, both QuickBooks Online and QuickBooks Desktop, just like a human user. These bots have the ability to seamlessly exchange information, including transactional data, with QuickBooks and other external software, spreadsheets, and emails etc. Bots ensure efficient and accurate data transfer between various systems. With the assistance of RPA bots, automating key steps in accounting processes, such as reconciliation, accounts payable, and accounts receivable, becomes effortless. These bots streamline the entire accounting workflow, saving time and improving overall efficiency.

RPA bots can efficiently operate Quickbook software both Quickbook online and quickbook desktop, the way a human operates it. Bots can exchange information such as transactional data with quickbook and other external software, spreadsheet, emails etc efficiently and accurately. RPA bots are used to automate most of the steps in accounting processes, including reconciliation, accounts payable, accounts receivable, and more. They can reconcile financial statements, match invoices with purchase orders, validate payment details, and even initiate payment processing. By automating these steps, RPA bots significantly reduce errors, improve accuracy, and speed of accounting processes. Moreover, bots can handle large volumes of data and repetitive tasks with precision, freeing up valuable time for accounting professionals to focus on higher-value activities like analysis and decision-making.

RPA for accounts payable (AP) automation

RPA bots have the capability to automate a majority of the manual and repetitive tasks involved in the accounts payable (AP) process. A bot can be specifically programmed to read incoming emails received from vendors and automatically download the attached invoices. Subsequently, the bot can seamlessly forward the invoices to an AI parser, which will extract the relevant data from them. The extracted data can then be integrated with both QuickBooks Online (QBO) and QuickBooks Desktop (QBD) through the use of another bot, enabling further processing and streamlining the AP workflow.

RPA for accounts receivable automation

An RPA bot has the ability to gather invoice data, including customer information, line items, descriptions, and purchase orders, from various sources like external software, emails, and folders. It can then automatically create an invoice in QuickBooks without any human intervention. Subsequently, the invoice, along with the collected data, can be forwarded to a human user for validation and approval. Once approved, the bot can automatically send the invoice to the customer. Additionally, a bot can perform regular follow-ups with customers for payment as per the collection process. When payment is received, another bot can update QuickBooks for reconciliation purposes.

RPA for reconciliation automation

RPA bots can seamlessly integrate with AI and OCR technologies to capture transactional data from bank statements, credit card statements, invoices, receipts, and more. They can intelligently categorize each transaction based on historical data analysis. For instance, if a transaction is categorized as “office expenses,” similar transactions in the future will be automatically categorized as such. Additionally, RPA bots possess the capability to track payments made by customers through credit cards or bank transfers. They can match the payment information with customer data and invoices, enabling the identification of which customer made the payment. Many businesses still handle these transactions manually, but RPA bots streamline and automate these processes, saving time and enhancing efficiency

QuickBooks automation using RPA brings remarkable benefits to businesses, revolutionizing the way financial processes are managed. By leveraging RPA technology, organizations can streamline and automate various tasks within QuickBooks, such as data entry, invoice processing, reconciliation, and categorization of transactions. RPA bots integrate with AI and OCR capabilities to extract and categorize transactional data, reducing manual effort and ensuring accuracy. Moreover, RPA bots enable the tracking of payments and matching them with customer data and invoices, simplifying the identification of payment sources. QuickBooks automation with RPA not only enhances efficiency and accuracy but also frees up valuable time for finance professionals to focus on strategic activities. It eliminates repetitive tasks, minimizes errors, and improves overall productivity within the financial management processes. With the potential to save time, enhance accuracy, and drive cost savings, QuickBooks automation using RPA empowers businesses to optimize their financial operations and unlock new opportunities for growth and success.

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