Automated Bookkeeping for Business Owners: Profile of a Docyt Customer

When searching for automated bookkeeping solutions, business owners may find themselves wondering who a typical user of the software might be. What challenges have they faced and how has the software helped them address those challenges. This is especially true in the age of accounting automation software and artificial intelligence. Here’s a look at a typical Docyt customer. 

A Typical Docyt Customer 

*Sam owns a retail shipping store in a small town. He spent many years away from his family driving a truck, and as he got older, he realized that he wanted a business that allowed him to remain close to his family. On the advice of a friend, Sam purchased a franchise retail shipping store rather than starting a business from scratch.

There was only one problem. Sam knew nothing about accounting. His first few months owning the retail shipping store were difficult, with Sam often staying late to finish entering all of the transactions for the day, making sure the bank accounts were reconciled, and that his vendors received payment on time. 

Another retail shipping store franchisee suggested looking into Docyt for help. Docyt uses artificial intelligence and automation to process many of the tedious bookkeeping tasks like data entry of revenue and expenses, categorizing transactions, and updating journal entries in the accounting software. Together with his bookkeeper, Sam spent a few days teaching Docyt how to accurately categorize and reconcile data. Docyt was then able to automatically match uploaded receipts to bank transactions and continuously update the ledger to produce the real-time financial data Sam needed to make informed business decisions. Since Sam no longer had to worry about back office tasks, he was free to focus on employee training and front office operations. His efforts paid off! Sam’s first location began to run like clockwork and became quite profitable. 

Sam decided to meet with his banker about expanding his retail shipping business to a second location. Right before he left the office for an appointment with his banker, Sam was able to print a current profit and loss statement and balance sheet. With Docyt’s convenient real-time data, Sam was ready for the meeting quickly with current business metrics and financial documents in hand.

Today, he owns a second retail shipping store franchise, and Docyt gives Sam visibility into both of his locations in one place. Because Docyt continuously updates revenue, expenses, and liabilities in each business’ respective balance sheet, Sam can easily track each location’s performance in real-time and make adjustments as necessary. And with Docyt’s flexible reporting options, Sam can view his two businesses’ financial health individually or see their overall performance in a consolidated roll-up report.

Finally, Sam can easily share all of this information with his tax accountant, making sure that he stays compliant and that his tax returns are filed accurately.

Now Sam can focus on his business and not on bookkeeping. And most important, on most nights, Sam is home for dinner. 

Is your story similar to Sam’s? Are you struggling to keep current with bills? Are piles of paperwork accumulating on your desk? Do you often feel overwhelmed by the entire accounting process? If so, take a few moments and schedule a free consultation with Docyt today. 

*Sam is a fictionalized example of a Docyt customer.

Sheila Kilbride
Author
Sheila Kilbride