There are three ways of creating and sending invoices – 100% manual, QuickBooks and 100% automated CONSULT-driven. Invoices can be dispatched by postal services, email or hand delivered (if convenient). Email is the most preferred dispatch method because delivery is instant and the possibilities of a missing invoice are rare. Technology driven software such as CONSULT even make it possible to schedule invoice generation and dispatch.
Which one is best – manual, QuickBooks or CONSULT (integrated with QuickBooks)?
Little we need to tell why manual invoicing is not a preferred mode these days; even accountants will not want it because it is slow to create and prone to errors. QuickBooks invoicing too is outdated in the IT staffing industry because it is, like QuickBooks, does not meet the speed and accuracy levels that staffing business firms want. The preferred method is therefore to choose QuickBooks-CONSULT combo (integrated) for the highest level of invoicing accuracy, productivity and speed delivery by email (automated).
QuickBooks Vs QuickBooks with CONSULT Integration
Approximately 70-80% of account software users prefer QuickBooks for all their accounting automation needs. IT staffing companies are no exception to this general rule; but the problem that they face is that QuickBooks doesn’t offer any solution for specialized requirements of the staffing business for increasing productivity, direct timesheet entry and vendor management. Most operations have to be done manually without offering any advantage to the accountant.
CONSULT Invoice Automation Software was developed to offer enhancements to QuickBooks so that firms don’t have to give it up. By integrating their existing accounting software with CONSULT it is possible to multiply invoicing productivity, accuracy and automatically dispatch invoices to get paid faster. IT is a total automation combo from timesheet recording up to paying vendors. It is a 100% automation software combo available at a competitive price.
CONSULT offers real-time AI invoicing processing up to full-level vendor management. IT staffing companies get direct timesheet entry from consultants, discount allowance is calculated based on intelligent algorithms, and vendor payment is optimized for taking maximum credit period advantage.
How CONSULT Cuts Down Invoicing Processing Time?
In CONSULT all information is centralized in its database – contracted prices, perks and benefits; customer addresses – billing address and dispatch details; conditional and non-conditional discount allowances; billing date and dispatch date; and any other information that is critical to invoicing processes. One of the highly time-consuming tasks that CONSULT eliminates is manual tax calculation. It is replaced by a complex tax categorization process that can instantly include the right tax rate in the invoice and reduce it to a zero-time-consuming task.
In CONSULT all data is updated as and when an event occurs. For example, a consultant is not required to wait till the last date of the project to make a timesheet submission; he can do it each day or at convenient intervals to reduce his last-minute pressure on his time. Since all data for invoicing is available many days before the actual billing date, invoice generation becomes just a matter of keying in the appropriate command to get invoices generated.
IT staffing companies report that invoice generation productivity has gone up by 10X times with 100% accuracy rate.