Accounting at the speed of light - books swiped in seconds
Swiping cards, or closing books - accounting integrations and accounting automation are here to rework and smoothen out your accounting structure. Direct integrations with some of the most popular accounting automation software, all to help you sync and reconcile expenses in real-time.
Save time by avoiding manual recoding, reshuffling, or lumpsum work. You no longer need to concern yourself with inaccurate data, redundancy, or missing information. Accounting software for accounts payable is now possible to integrate into your Volopay dashboard.
Collecting transactional information and receipts is way easier with automated expense systems. Instead of chasing for documentation, employees and admins can add supporting documents for immediate approval as soon as the transaction happens.
These are easy to access and available on the same platform - automatically attached and synced with your accounting automation software for reconciliation.
Closing books need not be a long, grueling process anymore. Accounting automation allows for most of the manual work to be digitized and set up for future convenience. The accounting automation software has the capability to streamline workflow.
You can create smart, intuitive rules to prevent data from getting lost or becoming repetitive. With Volopay’s integration dashboard, expenses are automatically synced with your software as soon as they occur.
With integration, your transactions don’t have to be manually transferred to your accounting software. The general ledger on your accounting automation software gets updated with expenses as and when they occur through Volopay (both accounts payable and cards).
Our current integrations are with MYOB, Quickbooks, Xero, Deskera, and Netsuite (along with the ability to download pre-coded files for MYOB). Visibility of all the expenses made is instantaneous.
The dashboard includes an accounting inbox for you to fully sort out all data that gets fed into your accounting automation software.
The biggest concern with automation is that accounting software for accounts payable can make exporting tedious. That’s no longer a worry. Accounting triggers allow you to auto-classify categories, label transactions, and add tax codes for easy verification and syncing.
Automatically classify all your transactions as they are made according to your chart of accounts. Create smart triggers that instantly auto-fill accounting information linked to the transaction. Get full flexibility, since you can define triggers for vendors, cards, users, and budgets.
With automation comes easy sorting. Our expense management system has the capability to auto-categorize things like vendors, transaction type, tags, and tax codes with the help of ledger organization and accounting triggers.
Accounting automation software allows you to create mapping rules for all your required accounting fields, merchants, departments, and more. All you need to do is import your chart of accounts - we will classify and sync everything in your ledger.
No more switching between multiple bank accounts and tools to run your smart business. We have combined great software with every service you are using a bank for, to produce a state-of-the-art financial platform.
Empower your employees with physical and virtual cards
Manage and track every dollar that leaves your company
Open a global account with multi-currency payments.
Manage vendors, approve invoices and automate payments.
Save hours daily, and close your books faster every month.
Integrate with the all the tools and software that you use daily.
Approvals, bill payments, reimbursements, corporate cards, and accounting automation - Volopay has it all on a single platform. It’s a one-stop-shop for all your expense management needs.
Reimbursements shouldn’t be a headache. Instead of constantly dealing with the influx of expense reports, you can equip your team with corporate cards. Usable like a regular card, they can be used for offline payments and carried with team members wherever required. Built-in controls, approval tiers, and instant reporting ensure that nothing flies under the radar.
All the benefits of a physical card without the hassle of an offline tool. Virtual Cards are secure and allow you to make innumerable online purchases. SaaS subscriptions, one-time gift cards, allowances - generate unlimited cards with set budgets and expiration dates. Empower every employee and make company funds accessible to the right people.
Manage vendors across the globe with the help of a seamless accounts payable dashboard. Establish multi-currency wallets to make payments in different countries, as well as speedy local payments. The FX rates and remittance fees Volopay offers are competitive, with some of the lowest rates in the market. Quit wasting time and bucks on wiring money across the globe.
Yes, you can use accounting automation software like Volopay to fully automate your accounting system, accounts payables, and accounts receivables included. On Volopay, for example, from the point where you receive an invoice, a payment, or when you make a transaction to the actual bookkeeping process, the end-to-end process of accounting can be automated.
Volopay helps with making accounting more efficient by automating most processes that require time and labor. With the primary dashboard, you have the ability to access ledgers and expense reports immediately, and transactions are all recorded in real-time. Additionally, all line-item data has information attached to it that is relevant to that transaction (like invoices, receipts, and statements).
Yes, it can. Any accounting integration you activate allows data to be synced in a two-way manner. This means that your accounting system gets updated with changes made in your expense management system - but any changes made in the accounting system also get updated in the expense management system.
We strictly follow all international and local standards of data protection. Our systems and fund-storage mechanisms meet ASIC standards of security. All information is stored on the cloud and can only be accessed through the dashboard. You can also add an extra layer of security by giving permissions only to specific users to be able to access certain data.
Yes, certainly. When a bill is created on Volopay, you can add the invoice associated with it. The details are filled in automatically, and the bill is then part of the automation cycle. As and when it’s paid, receipts get attached to it as do the transaction details. If you choose to set up accounting triggers, the tax codes and reconciliation information also gets automatically added to it and it syncs with your accounting software. The entire process can be automated end-to-end.
The accounting automation software can definitely manage multi-currency transactions. Whether that’s an international transfer or the use of one of your multi-currency wallets, all the information is converted into data that the accounting software can process with ease.
Using accounting automation software like Volopay, you can pretty much automate any accounting function you want. Processes like invoice management, reimbursements, expense reconciliation, accounts payables, accounts receivable, accounting integration, and bookkeeping or book closing process can all be done via Volopay.
Accurate data, enhanced data security, improved KPIs, no human mistake, quicker systems, real-time updates and reporting, simple integrations, cloud storage, increased productivity, are some of the many pros to using automated accounting.
The automated accounting system uses software to collect, process, and analyze financial data without human intervention. This system can be implemented by using automated accounting software (e.g. Volopay, Divipay etc.). When equipped with the right software, businesses can automate their entire accounting system.
Read up on snippets of the latest news and reports on accounting automation in Australia.
The global accounting software market grew from $15.73 billion in 2022 to $17.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The accounting software market is expected to grow to $27.3 billion in 2027 at a CAGR of 11.4%.
Cloud accounting software provides 1. In-depth analytics 2. Secure storage 3. Hassle-free access 4. real-time transactions 5. Centralize tasks 6. Improved accuracy 7. Faster processing speed 8. Seamless integration
With accounting automation all your finances are recorded digitally, thereby negating the need for finance teams to maintain piles of paper filled with ledgers which they have to submit to the accounting department.
The key features of vendor management software Include 1. Vendor onboarding 2 Data analysis 3. Employee engagement 4. Strategy and aid 5. Software Integrations B. Risk assessment 7. Compliance payment automation.