Being able to collaborate and visualize your accounting data is essential in today’s fast-paced work environment. Features designed around visibility and collaboration provide a more proactive and effective way to track and compile critical accounting data. Let’s examine critical features you should look for.
Accounting Visibility Features
There’s a lot to see when it comes to accounting. To maximize the value of your financial data and boost efficiency, you’ll want to be able see this valuable data as quickly as possible. You’ll also want options that let pinpoint and explore specific data with ease. Make sure your accounting system is equipped with these features:
- Financial Dashboards provide a visual display of key metrics and trends of a company’s accounting. At a glance you and your team can see finances in real-time, an immense time-saver. This is highly valuable for tracking key details to gauge financial health or milestone statuses. You’ll want dashboards that are easy-to-use and responsive. Look for dashboard settings that let you customize the data and view as you need.
- Your financial reporting features should have the option to create scheduled reports for key stakeholders. The variables and finances dictating your business are always changing. Scheduled reports let your team always be up-to-date on the number to make strong decisions.
Audit Trail Functionality
- Audit trails are detailed records of accounting data going all the way back to the initial source of the transaction. Specifically, it documents the steps and outcomes of individual accounting transactions that generate debits or credits. This lets you visualize the source, timing, products, staff, and other details associated with your finances in a single view.
Platform Collaboration Tools
Seamless communication and coordination within the accounting system is very important. Key team members must be able to access, share, discuss, and validate accounting data together. Many platform-based features make the basic tasks around accounting much easier and organized.
- Chatter lets you create chat groups and leave messages to help your team understand what’s going on in various stages of the accounting life cycle. This lets staff communicate over accounting information to resolve issues fast.
- Having task functions let you assign, monitor, and complete events in the system. This is a vital tool for helping you meet key deadlines, like a monthly close. Email notifications are also sent to inform users of assigned tasks. The task tool enables managers to assign specific individuals with certain assignments to ensure workflow is clear and efficient.
- This feature automates specific steps or sequences of events that require an official signoff on a record to ensure accuracy. All leaders and key personnel will be able to review and work on relevant processes without losing track of them. This also establishes accountability and a system of checks and balances.
- Workflow rules let you create and automate internal processes and procedural steps for key accounting processes. These rules work like this: when x happens, y is the result, onto the next event in your workflow sequence. This helps avoid mistakes and structures proper workflow.
Accounting Seed maximizes your accounting by helping teams visualize and collaborate within the system to focus efforts and work productively. We empower you to spend less time on transactions and more time moving your business forward with automation. Contact us for more info or sign up for a free, custom demo today!
See Accounting Seed in action
Get a close-up view of how accounting on Salesforce can eliminate the need for costly integrations—and silos of mismatched information—by sharing the same database as your CRM.