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5 steps to becoming a truly digital accounting practice

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The race to become a digital practice has arguably already been run. Firms across the world, and their clients alike, have been making significant steps into the digital world for the last decade, even if a full migration onto ‘the cloud’ hasn’t totally materialised.

Desktop accounting software, for example, has evolved to the point where it no longer sits separately from more digital-first platforms (a development that inspired Dext Connect). As consumers, almost 60% of our transactions are now online (McKinsey, 2020). The digital age is no longer around the corner; now, we’re in the thick of it.

The question is no longer about your firm going digital – that shift has already begun. The question is, with digital technology so readily available, now what?

Starting simple

Digital accounting technology starts with the simple things. Uploading client documents via smartphone capture. Storing them in the cloud for security and anytime access. Auto-generating monthly reports to help clients keep on top of their business finances. 

These are cornerstones of any modern accounting practice, but they’re just the tip of the iceberg. Unlocking greater value for your clients, saving your firm even more time (and money), and distributing resources effectively – these are the areas you need to build towards to become truly digital. 

Here’s how Dext can help you do it in just five easy steps.

Maximise the value of your apps with in-app chat

A major pain point for accountants and bookkeepers, even in the digital age? The time it takes to address minor issues with documents submitted by clients. You can now resolve bookkeeping issues in-app with targeted comms, enabling you to comment directly on items in the web app and send messages directly to a client’s mobile. Once received, they can respond instantly via a chat interface. No more email chains, phone calls or costly waiting.

Automate the unnecessary with Invoice Fetch

How often are you requesting the same recurring invoice from your client, usually from an online supplier portal – think Amazon, PayPal and the like. With Invoice Fetch, you can eliminate forgotten invoices, connecting Dext straight to your clients’ suppliers in an instant. More than 1,400 suppliers are on our approved list, and this is growing all the time – meaning you can move as much billing as possible online, and avoid the paper chase for good. 

Boost your efficiency with Outstanding Paperwork

Still missing documents? We’ve got you covered. With Outstanding Paperwork, Dext Prepare can scan through your general ledger auto-generate a list of all transactions with missing documentation – and then share it directly to your client’s mobile app. One use case? Share with a client every Friday, they can submit their paperwork over the weekend, and then you’re free to process everything on Monday. Up to speed, seamlessly. 

Client bank data at your fingertips with Bank Fetch and Bank Statement Extraction

Get reconciliation-ready with Bank Fetch, a feature that collects all bank statements from your client’s banking portal and stores securely within the Dext dashboard. Within a few clicks, you can process all relevant data – without having to manually enter any of it yourself. Then, you can transform the data into a .csv file with bank statement extraction, ready to import into your client’s accounting platform of choice.

Streamline sales invoices with the Sales Invoice function

Paper receipts and invoices are messy and often don’t follow a standard layout. Dext Prepare goes beyond simply converting documents into digital text – one quick photo from your client and the app intelligently analyses, understands and organises the data for you. All of the information can be managed within the Sales Workspace, and then moved across to their integrated accounting software.