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App partner of the month: EzzyBills

Xero

EzzyBills was co-founded by Michael and Li Fitzmaurice in 2014 in Australia, after Michael had been creating tools supporting older, legacy accounting software to keep inventory and sales information up-to-date. Extracting the data. EzzyBills eliminates the need for manual data entry as well as the human error that goes with it.

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App partner of the month: Datamolino

Xero

We’re excited to announce November’s app partner of the month is Datamolino – an automated data-capture and invoice coding solution that saves small and medium-sized businesses time by reducing manual data entry. Datamolino automates data capture and processing for bills, receipts and invoices.

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Understanding ASC 606 Revenue Recognition?

Billing Platform

Say your landscaping business completes the tree trimming of a housing development and sends the client an invoice for $4,000. When: In May 2014, the FASB and IASB jointly issued Accounting Standards Update (ASU) 2014-09, which introduced ASC 606. To illustrate, let’s look at a couple of examples.

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AvidXchange Helps Hotel Operator Save 37 Hours Each Week, Cut Processing Time by 80 Percent

AvidXchange

“Within a four-month period back in late 2014, we doubled in size,” says Brian Murphy, Director of J.D. Our accounts payable (AP) department, already bogged down by time-consuming, manual tasks, was overloaded by the sheer number of additional invoices. Invoice processing times were slashed from an average of 18 days to three. “AP

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5 Key Tips to Better Manage Your Accounting Team’s Workload

Jetpack Workflow

Rather than manually typing up invoices, making phone calls, or entering data into systems, this software can automate these processes giving the team more time to focus on other aspects of their job. Since 2014, CMH Advisors has grown from a team of two to 12, servicing clients in over 40 states.

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Accounting Technologies: The 2023 Annual Guide

Future Firm

For example, a bill includes all kinds of information such as the invoice date, due date, payment terms, nature of expense, supplier name, supplier address and more. Overall, this process reduces manual data entry, which translates to less human error and better efficiency.

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The neXt Era: The Past is Prologue

AvidXchange

By 2003, their invoice approval software, AvidInvoice, was enabling companies to route invoices electronically and create intelligent workflows to automate their accounts payable processes. Piracle was acquired in 2014 to deliver a full payment suite of applications to our joint customer base, which exceeded 4,000 customers.