Five Accounting Tasks You Should Automate to Save Hours Every Week

 By John McGowan, Founder & CEO, HubSync

You remember those older movies that made references to the future? The Jetsons had robotic maids doing housework for them, and Back to the Future had flying cars taking them from place to place. Want to know the dates these futuristic media pieces were set in? 2062 and 2015. One has already passed, and the other isn’t too far off. While we may seem a long way from the world they predicted…tax and accounting workflows don’t have to be.

HubSync is an AI-powered, end-to-end tax and accounting workflow platform built exclusively for CPA firms. It replaces outdated, manual data entry and payment pipelines with end-to-end automation of routine accounting tasks. AI can automate tasks that account for around 57% of U.S. work hours, meaning firms that use HubSync’s AI integration can easily summarize and analyze data with automated tax returns, organizers, and PBC documents.

This post breaks down the problems that keep accounting firms stuck in the past and evaluates how AI-powered tax and accounting workflow platforms, like HubSync, can help bring managing partners at top-100 CPA firms into a time-saving future.

How Are Tax and Accounting Workflows Stuck in the Past?

Right now, CPA firms are faced with a couple of manual areas in their workflows that slow down processes:

1. Transaction Categorization: When done manually, this task becomes repetitive and inconsistent, allowing errors to seep into accounting workflows.
2. Invoice and Payment Reconciliation: Manual matching leads to slow processing and missed/mismatched payments.
3. Data Entry Across Systems: Entries done by hand result in duplication and wasted time.
4. Financial Reporting Preparation: Non-automated reports are often crafted slowly, resulting in outdated/inconsistent insights.
5. Tax-Ready Data Organization: Human-controlled coordination often falls onto the back burner, leading to disorganized records and last-minute scrambling during tax season.

These manual processes are like our current routine: driving cars on traffic-jammed roads and washing dishes by hand – nowhere near what the media predicted for us. With 59% of accountants reporting that they make several errors a month, often due to low capacity, the status quo is no longer practical. Accounting firms need the time-saving technology of the future. HubSync is that future.

How Can an End-to-End Tax and Accounting Workflow Bring CPA Firms into the Future?

HubSync directly addresses the manual workflow issues CPA firms face, acting as a flying car for accounting, through these capabilities:

1. Tax Workpapers: Addresses transaction categorization issues by standardizing and organizing financial data into consistent, tax-ready formats.
2. Bill and Pay Platform: Manages invoicing and payments in one place, making reconciliation automatic and addressing manual invoice and payment processes.
3. AI Automation and Integration: Connects tools and syncs data across systems, so that accounting firms do not have to enter data across siloed platforms.
4. Planning and Analytics: Provides live dashboards and reporting based on continuously updated data, so CPA firms do not receive outdated financial reports or insights.
5. Tax Organizer (PBC): Automates client data collection and keeps everything organized for filing, so that tax and advisory professionals don’t have to hurriedly gather data during the busy season.

Automation is the future that our childhood media predicted. With AI, accountants can spend 8.5% less time on routine back-office processing and concentrate on what matters: the clients.

Ready for a Flying Car?

We’ve been predicting what the future may look like for so long; it’s time to take action towards it.

Surveyed professional service workers believe generative AI will become central to workflows by 2030. Don’t get left behind, get the tax and accounting equivalent of a flying car. Visit hubsync.com or request a demo at hubsync.com/contact-us to see how HubSync can save your firm hours every week.

ABOUT HUBSYNC   

HubSync is an AI-powered, end-to-end tax and accounting workflow platform built exclusively for CPA firms. HubSync unifies client portals, engagement letter management, document collection, e-signatures, e-filing, billing, and workflow automation into a single integrated system — eliminating the need for multiple disconnected software tools. HubSync serves mid-market and top-100 accounting firms across the United States, helping managing partners, tax leaders, and client-facing staff deliver exceptional client experiences while expanding firm margins. Learn more at www.hubsync.com.   

ABOUT JOHN MCGOWAN   

John McGowan is the founder and CEO of HubSync, a SaaS company with a next-generation tax and accounting automation platform created with the goal of changing how tax professionals work and how clients interact with CPA firms. Previously, John has over 25 years of experience driving technology innovation and investment at Deloitte and KPMG, where he served as a Partner-in-Charge of Tax Technology and the Global Chief Information Officer, respectively. John holds a BSBA and a Master of Accounting from the University of North Carolina at Chapel Hill.