Time is Money: Don’t Spend Valuable Time Inputting Data into QuickBooks

Diane Glover

Jun 18, 2014

Do you get valuable monthly data from vendors and banking partners?  How do you process that information to run your business?  Do you have someone manually input all of those records into QuickBooks?

lores_puzzle_dollar_sign_mbIf so, here is a solution for you! Recently a client came to us with a problem.  Each month they received large amounts of data from one of their vendors in an excel spreadsheet.  An employee was then spending 5-10 hours a week to manually input that data into QuickBooks.  On top of that, they were then spending a lot of time reconciling all of those inputs for errors that were made in the manual entry process.

The Solution:

When we were approached for a possible solution, we developed a solution that resulted in significant time savings and better overall record keeping.

The first step was to identify the proper third party software that would import the data the client was being provided from their vendor.  QuickBooks has several third party add-on solutions to help import the data.  Our team has worked with the third party software programs and we quickly identified the appropriate software for their situation.

Once identified, the next step was to make changes to the layout provided by the vendor to an acceptable format for the import software.  Microsoft Excel is a great tool for manipulating data into a format that is compatible with the client needs.  Our team developed an excel file with built in macro’s that properly formatted the data.

The third step was to link the re-formatted file with the import software.  Now, what once took hours and hours of manual time is done in minutes.  In addition, there are no longer concerns about manual input errors because everything is input electronically in seconds.

The Bottom Line Result

The Client’s initial solution was to hire additional accounting personnel, costing them a new salary and benefits.  With the help of the Kirsch team, our client saved thousands of dollars and gained valuable time by re-purposing current staff to work on more valuable projects than data entry.

How Do I Implement?

If your team is spending time on manually entering external data from a vendor or banking partner, there is a better solution.  Contact your bank and learn more about the process of downloading bank reconciliations, follow our steps to save valuable time or give our office a call at(513)858-6040 and we will share our experience to help you explore the options.

About The Author

As the Manager of Practice Growth, Diane focuses on the market awareness and growth of Kirsch CPA Group…

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