5 Types of Productivity Tools used by Professional Accountants

productivity tools

Productivity tools are used by accountants to continue to maintain high levels of productivity without compromising on quality. But with so many to choose from, it is imperative to identify the right productivity tools that can help Accountants address key areas of improvement. They should fit into your workflow and be effective in aiding Accounting professionals in their day to day operations.   

Here are some examples of productivity tools for accountants

1)     Time-tracking Tools

  1. actiTIME

actiTIME has multiple features aimed at boosting the productivity of accountants. This productivity tool reduces errors with automatic time tracking capabilities and helps in easy invoice generation to empower accountants with accurate information. It features highly customizable reports like billing summary, profit & loss, and cost of work reports that an accountant can leverage to improve their productivity and make their job easier.

  • TimeCamp

TimeCamp is a popular productivity tool among accountants as it is very intuitive, flexible, and has a wide range of functionalities. The tool generates detailed timesheets and invoices, saving accountants a lot of time and effort. Moreover, TimeCamp supports integration with other tools like Quickbooks, Asana, and Slack, for an uninterrupted workflow.     

  • Harvest

Harvest boosts productivity in accountants with expense management capabilities that work in tandem with time tracking. Accountants can leverage this powerful combination to automatically generate invoices and easily track payments from this single platform. It also helps streamline accounting processes by integrating third-party apps like Slack, Asana, Gmail, and many more.

2)     Expense Management Tools

  1. Fyle

Fyle is a dependable expense management software that uses artificial intelligence to streamline cost tracking and reporting. It is very beneficial for accountants as it automates the accounting workflow and removes human error from the equation. Moreover, it easily integrates with accounting softwares like Quickbooks to provide accurate expense records.

  • Zoho Expense

Zoho Expense is the perfect productivity tool for accountants looking for an efficient software that automates expense tracking without much hassle. The tool offers automated reports that can be customised to fit the needs of the organisation. It also supports integration with some of the top accounting softwares like Quickbooks and Zohobooks to streamline accounting processes and reduce errors.  

  • Expensify

Expensify can help accountants simplify their workflow by organising your receipts and tracking expenses. This productivity tool is designed to remove human error and create a clear audit trail by automating as many accounting tasks as possible and streamlining the accounting workflow. Expensify also supports integration with accounting softwares like QuickBooks, Sage, Oracle, and so on. 

3)     Project Management Tools

  1. Workzone

The feature-rich Workzone platform is a favourite among accounting teams looking to organise workflow and improve productivity using productivity tools. The platform supports cross-platform dashboards that let accountants track tasks and automate processes and approvals, allowing them to focus on more important work. Accountants can create project templates in seconds to ensure monthly, quarterly, and yearly reports are generated both without any mistakes and in a consistent manner.  

  • Asana

Its functionalities allow accountants to easily streamline accounting and bookkeeping workflows and improve productivity. It offers project tracking and reminders to ensure accounting teams are aware of upcoming deadlines. Moreover, there are plenty of templates available online for this productivity tool to make setup easier for accounting teams.

  • Zoho Projects

Zoho Projects is your standard project management tool but can be customised to fit your accounting needs like scheduling tasks, developing budgets, and tracking deadlines. The platform supports CRM capabilities and integration with Zoho expense for expense tracking ensures your entire accounting workflow is found in a single cloud-based ecosystem.

4)     Document Storage and Sharing Tools

  1. Dropbox

Dropbox’s features, like password protection and multi-factor authentication, allow accounts to store and organise all their sensitive documents confidently in a single location. They share these documents via the platform and set permissions to make sure only authorised people have access to the information found in the file.

  • Google Drive

Google Drive provides accountants with the necessary features to organise work and improve productivity. It allows the accounting team to securely share and store their invoices, payroll slips, and other important files. Moreover, Google Drive supports integration with most accounting softwares for easy accessibility and improved workflow.

  • OneDrive

Microsoft’s OneDrive offers the features accountants need to safely and securely share files with team members and clients like password protection. It allows accountants to request documents and collaborate with other teams within the organisation. Since it is a cloud platform, they can store and access these documents from anywhere.

5)     Note Taking Tools

  1. Evernote

Evernote is an excellent productivity tool to save accountants time by organising their notes and thoughts in one place. These notes can be shared with work colleagues or converted into tasks that the team needs to address.

  • OneNote

OneNote is a great platform for accountants to organise their receipts and notes regarding accounting projects and tasks. The search capabilities of the OneNote platform can save the accountants time when it comes to finding certain entries. It also integrates seamlessly with Google Drive, OneDrive, and your local storage.

  • Notion

Notion is a document sharing and notetaking platform with a wide range of capabilities. It is highly customisable and can create reliable systems to manage your finances making it a perfect productivity tool. There are a plethora of automation opportunities to make accounting processes easier for the company.

Gone are the days when a calculator or Microsoft Excel were the only tools used by Accountants to aid them in their profession. With the passage of time, the needs of the firms and the duties of Accounting professionals have evolved. Productivity tools are the way forward as they reduce the monotonous work of the Accounting staff. Automation is the key to success and in the age of Artificial Intelligence, it makes sense to automate the job processes that does not require human intelligence. By getting acquainted with these productivity tools and using these in their day to day operations, Accounting professionals can better utilize their time and effort towards more productive activities.

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