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For many businesses, the process for tracking and receiving payments on products or services rendered involves several steps and internal resources. In addition, documenting earnings, whether for tax purposes or management reporting, often results in valuable hours wasted trying to compile the necessary information from multiple data sources. When it comes to accounting tasks such as these, automation is the key to efficiency. In our latest Financial Suite release, we expanded on our accounting automation to address these dilemmas by adding the following three features:
- Built-in Payment Processing– Tracking your debit and credit card transactions should not require multiple websites, apps or double entry. Through our seamless integration to Stripe, customer payment processing can be performed directly within Accounting Seed. By using this feature, you can also securely submit card information using any commonly used browser and from any preferred desktop or mobile device. Not to mention, card information in Accounting Seed will remain PCI compliant.
- 1099 Export- No longer do you have to calculate and report contractor earnings outside of Salesforce. With Accounting Seed, you can easily create and export a 1099 report in CSV format. Simply, set your parameters by year and threshold amount. Finally, when you are ready, upload and submit your 1099 report to the IRS through any recognized e-filing program.
- Enhanced Multi-Entity Support- How do you keep track of financial data shared among company divisions? This process can be streamlined using Accounting Seed and its multi-entity support. Now, in our Financial Suite, we have taken our multi-entity support one step further by giving Salesforce users the ability to automatically tag data associated with business transactions to multiple profit centers and business units. Through this enhancement, you can establish a simple default workflow that will pre-populate relevant information on transactions such as invoices, cash receipts and sales orders across all offices.