5 ways Hylobiz simplifies an accountant’s workday

The duties of an Accountant vary with the size of business. In large organizations the duty may be split in different departments and among different teams. However, in general the role of an Accountant in small business is wide and the one is found to be solely responsible to make sure every process is handled perfectly for revenue to grow and for a continuous flow of fund to the business.

Accountants play a vital role in every organization as they work tirelessly behind the scenes engaged in the tedious tasks including data management, financial record keeping, payments, reconciliations, settlements and many more to help run business smoothly, help take better decisions, help the business maintain working capital efficiently, earn profit and help achieve organizational goal.

An accountant’s job typically includes-

  • Maintaining and organizing the financial records
  • Ensuring vendor payments, tax payments and ensuring payment of employee salaries happen on time
  • Invoice customers or clients, check for the receivables and ensure collection is done on time
  • Preparing journals, ledgers, balance sheet and finally check discrepancies and reconcile the differences. The journal entries should be done on regular basis to avoid errors
  • Analyse risk and help improve business efficiency

If you are an Accountant or into a related profession, then be informed that we understand the intensity of labour you need to put in and continuously upgrading the unique Hylobiz platform to give you the best support.

Sometimes the manual errors put you into additional work hours and even if you have taken the support of an Accounting ERP, you face discrepancies because of data being found in silos or in absence of a reminder and lack of complete automation in the system. Uploading and recording data manually is both tedious and risky.

Hylobiz connected banking platform through its distributed system of ledgers is the best friend of Accountants. You will feel relaxed to know that it is already a preferred tool of many Accountants in India and UAE both in small businesses and in big corporates across several industries. The Finance and Accounting professionals have often shared that the automated and integrated Hylobiz platform has made their task easy and free from errors. The innovative, well designed, transparent Hylobiz platform is a one stop automated solution for several accounting needs. The collections automation on the system can help you manage invoices, get paid on time and get reconciliations and settlements done automatically.

You being the Accountant or being into book keeping or any accounting and finance related job in any Organization or running your own farm, can perfectly understand why you need to use this platform as you start discovering through the next part of this article the several unique advantages the platform provides you.

Your work becomes simple and error free when you register on https://hylo.biz/neobank/Register or you download the mobile app from https://play.google.com/store/apps/details?id=com.hylobiz.biz&hl=en

Why shall the Accountants use Hylobiz?

Let us tell you that we are proud to let the world know that Hylobiz is the best of its kind and the Fintech platform is well recognized as a successful start up bringing in renaissance in the Business Banking System. The Neo banking platform is well tailored to support the efficient professional like you.

Once you start using Hylobiz platform you will see the magic of automation. The level of manual work you do at present will decrease significantly and will help you focus in analysing the business health with the available reports and effectively help the business see a steep growth.

The top 5 ways Hylobiz simplifies an accountant’s workday are as under:

Automated sync with your ERPs/Accounting platform

Once Hylobiz gets connected with your Accounting platform you will realize that the automated platform will help record, track, and maintain accounting data seamlessly. Maintaining and organizing financial records is no more a trouble. Manual errors will no more be a concern.

Moreover, the track of receivables and payables on the dashboard will make your work very smooth and help you understand business health and analyse risk.

Integrate your ERP now

The platform is already integrated with our ERP partners like Quickbooks, Oracle ERP, Coral ERP, ZOHO, Botree Software, Xero, and Tally.
SAP and Microsoft Dynamics 365 will be integrated soon.
Our Banking Partners are Kotak Bank, HDFC Bank, ICICI Bank and YES Bank.

Automated distribution of invoices and reminders

You may integrate your Accounting platform with Hylobiz Neobanking platform, or you can upload your invoice file. It is very easy to create and itemise invoices and send them through WhatsApp, emails, sms.

Invoice management and collection of payment becomes smoother than ever before.

Share Link Hylobiz App
Invoices and Payment Links on Whatsapp, Email and SMS

The automated reminders make you actively collect payments on time and pay out by reminding you of the dues (receivables and payables).

Online collections facility with cheque / cash reconciliation

Online (through Credit card, debit card, net banking, and UPI) and offline modes of payment are available for your customers.

Both partial and complete payments through online or cash/ cheque helps easy reconciliation which is an automated process.

Collections become transparent and easily collected in professional way with cash/ cheque reconciliations automatically done.

Easy pay out process

There is a Payable option which allows you to make single pay outs as well as bulk payments.

The EMI payments, invoice payments to vendors, tax payments, bulk salary pay outs become faster, easier and error free which will really ease your work and increase efficiency in the system.

Automated reconciliation with ERPs / Accounting / Invoicing platforms

You may deal with multiple ERPs, Accounts, and users. The automated reconciliation will help you handle complexities and support to make a smooth close.

The reconciliation report can be tracked from anywhere.

All invoices and purchase orders get populated in a single report with unique payment identity number.

Auto reconciliation for real time cash flow

You need not any more take the pain to prepare journals, ledgers, balance sheets and need not just pass hours together in reconciling and settling.

The Receivables option on the left-hand menu helps you collect payments, while the payables option helps making payments.

The distributed digital ledger (account statement distribution) on Hylobiz platform can be configured for auto distribution to the business partners. This will help you to record, track and analyse, collect, and pay out on time ensuring better working capital and helping the business to meet organizational goals and make long term plans.

You being a very important part of an organization can surely understand the huge benefits Hylobiz platform can give you and is expected to guide and help the Organization you are working for to make an exclusive and smart decision by choosing this platform.

To know more and to get connected please email at  support@hylo.biz

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