QuickBooks : Online Accounting Software
QuickBooks is an online accounting software that caters to the needs of small business owners, accountants, self-employed and people starting a business. It is a accounting software that helps you create GST Invoices effortlessly; keep track of money through online banking and manage GST, inventory, staff and payroll etc. Thus offers, extensive features for your bookkeeping and accounting needs.
How QuickBooks works?
Various vendors or supplier send their invoices which can be of non-standard layouts and different formats such as pdf, jpg, png, tiff, bmp, scanned images etc. The invoices are read by an individual and after interpretation, every record is entered into QuickBooks platform manually.
How KlearStack automates QuickBook’s bill entry process?
KlearStack automated the whole process and reduced time by a great margin by increasing efficiency. Invoices of different templates sent by suppliers are downloaded in folders and uploaded to KlearStack as single/batch for processing. KlearStack using its machine learning capabilities and advanced AI technologies extracts all the data including Supplier/Customer details, tax details, line items automatically.
Extracted data shows 85% accuracy in most cases. Users can manually validate the fields, save and approve the records. If necessary, all the corrected records are sent for re-training by KlearStack at the back-end which increases accuracy to 95% for the next time after user feedback and continuous training for month.
All the approved records can be selected in Bulk and then “Export to QuickBooks” button can be clicked. All approved accounting entries can be seen in QuickBooks directly. Thus, eliminating manual entry and achieving complete invoice automation.
QuickBooks Integration with KlearStack
- No need for employee to manually enter data into QuickBooks for each accounting entry. Even if the received invoices are in non-standard layouts, KlearStack efficiently extracts data touchlessly.
- All uploaded invoices are extracted with very high accuracy. Human efforts needed only for single-click validation.
- Interpretation by human of invoices is replaced by machine learning data extraction
- QuickBooks simplifies and streamlines the accounting, tracking and reporting for end users whereas KlearStack help QuickBooks to read all the data from invoices without human intervention.
- With KlearStack integration, employees of QuickBooks just need to verify the uploaded records once, approve and click on “export to QuickBooks ” button
- Reading emails, downloading invoices, uploading bulk invoices, extraction of data from PDF files / Images – all these steps will be done by KlearStack’s RPA utilities .