One thing small business owners don’t have a lot of is time. This is especially true when it comes to menial tasks that often take priority over the more important work of strategising to expand the business. One of these menial tasks is the bookkeeping that needs to be done to track the business’s transactions, invoices, and payments.
As small businesses grow and transition from using small accounting software to Jiwa7 to manage their entire business, one surprising drawback is the lack of automation when it comes to inputting bank and transaction data. Most ERPs simply don’t have this functionality.
This manual task is a challenge for business owners that cuts into personal and family time, costs the business money due to the time that the business owner invested in doing it, and carries the potential human error that comes with manually working with numbers.
After working with small businesses for decades, the AttKey team recognised that this process was wholly inefficient. So, we approached SISS Data, Australia’s largest provider of bank-approved data, and worked with them to develop a solution.
The result is ACSISS Connect, an automatic bank feed feature which takes account transactions from banks and maps them to Jiwa7 automatically and securely every day, using SISS Data Services.
Save time and money with automatic bank feeds in Jiwa
With ACSISS Connect, business owners no longer need to sit for hours to match up bank and transaction data into Jiwa.
ACSISS Connect has everything you need to simplify and utilise account transaction data. Connect your bank to Jiwa and unlock:
- Process automation – receive your bank transaction data each day, eliminating the traditional manual data verification process
- Improved data security – using data supply agreements, ACSISS Connect only receives data under the express authority of the account holder, never through non-approved methods
- Improved data accuracy – automatic uploading of data directly from the source eliminates manual and human error
This is especially beneficial to businesses in the ecommerce and wholesale distribution spaces which manage hundreds of daily transactions on multiple platforms, such as Amazon, Shopify, or eBay, that send through multitudes of invoices – or even just one lump figure – that need to be broken down.
Further complicating the process, all of these platforms have their own payment gateways, such as PayPal or Stripe, taking a commission. Business need to account for the percentage of the transaction that goes to the gateway.
ACSISS Connect takes all this work out of your hands, easily matching up hundreds of invoices and transactions from multiple banks or accounts into your accounting software.
It gives business owners in any industry the freedom to focus on growing and expanding their business, saving costs by automating a task that previously took hours, and providing the security of knowing that their transactions and payments are no longer at risk of miscalculation.
Get started with Jiwa with a 120% tax deduction for small businesses
If you’re a business owner who’s tired of wasting your valuable time and money on manually tracking and matching your transactions and invoices to Jiwa, you can start adding further efficiency and visibility over your financials today by contacting our team to discuss enhancing your ERP with ACSISS Connect.
The recent Budget has also provided small business owners with even further tax deductions on their software – including Jiwa7. Small businesses (with aggregated annual turnover of less than $50 million) will be able to deduct an additional 20% of the cost incurred on business expenses and depreciating assets that support their digital adoption, such as subscriptions to cloud based services.
And if you’d like any more support in getting the most out of your Jiwa system, you can join our Support Club, where you can access training videos from our expert team, get 40% off our hourly consultations rate, and receive monthly blog updates on your Jiwa system.