Are you anxious that entering your invoices, receipts, and requisition for payments into QuickBooks (QB) and other ERPs will lead to unnecessary mistakes?
Do you find yourself collecting bills and receipts into an envelope at the end of every week and laboriously shipping it off to your bookkeeper? It then takes hours for your bookkeeper to get this information correctly into the ERP. Additionally, assigning the correct cost code to your projects is a problem that you and your bookkeeper both struggle with.
Issues that I described here often leave you clueless as to how profitable, or loss generating, different projects are. For contractors looking for accurate profit and loss statements, project-wise, project costs must be correctly entered into QB and other ERPs.
What is then the solution, you ask? Being Humans’ Intelligent Document Processing of course!
Intelligent Document Processing (IDP) is the use of artificial intelligence (AI) and automation technologies to extract relevant data from various types of documents. IDP is a must-have tool for contractors using QuickBooks and other ERPs as it streamlines the
data entry process, reduces manual errors, and improves efficiency.
Here’s how contractors can leverage our IDP with QuickBooks and other ERPs:
Contractors often receive various documents like invoices, receipts, purchase orders, and contracts from their clients, vendors, and suppliers. Being Human’s IDP software automatically collects and organizes these documents from multiple sources, such as email attachments, cloud storage platforms, handwritten documents, or scanned copies.
Our IDP utilizes AI algorithms to extract relevant data from the collected documents. These tools can identify key information such as invoice numbers, dates, line items, quantities, prices, and vendor details. The extracted data is then automatically populated into the appropriate fields within QuickBooks Online and for other ERPs an easy-to-use csv file is generated.
Our software cross-validates the extracted data against existing records in QuickBooks Online to ensure accuracy. For example, the system can verify if the vendor or customer already exists in the QBO database or check if the invoice number is unique. This validation process helps minimize errors and ensures data integrity.
Reporting and Analytics
By using our IDP contractors can enjoy real-time insights and analytics to help them in generating reports, track expenses, monitor outstanding payments, and gain better visibility into their overall financial performance. By leveraging our advanced IDP in conjunction with QuickBooks and other ERPs, contractors automate mundane data entry tasks, reduce errors, and improve overall productivity. It streamlines the contractor’s financial processes, enabling them to focus more on core activities and enhance their business efficiency.
If all these benefits seem like something you want to see in action, please schedule a demo at beinghumans.co and one of our experts will show you how you can use our system to increase transparency, timeliness, and accuracy of project-wise profit and loss
reports. We connect with your team to understand your pain points and personalize our services to your needs.
The Being Human’s IDP software cuts your processing time on invoices, receipts, and pay apps by a resounding 90%. Embrace the power of our advanced AI and propel your business to new heights. Start your journey today!
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