It is frustrating sometimes. Your accounting system wants a bank statement from an authorised bank but your transactions come from a different source. Or maybe your accounting system is not compatible with the BIC Planning Model.
Two recent cases I have been working with were just these scenarios. No need to manually enter data in order to transfer from one IT system to another. There are many ways to create an interface that prevents you having to enter data manually. Then there are no transcription errors and you can knock off early.
The first case was the task of interfacing Strata Master accounting software with the BIC Model for planning and forecasting an Owners Corporation’s (Strata) financial affairs. The Trial Balance from the accounting system has two entities on the one output. With a bit of programming inside the BIC Model, bringing in the data from the strata specialised accounting system now takes about 5-10 minutes each month. Then there is plenty of time to concentrate on checking the financial status and forward projecting to assist with investment and expenditure decision-making outside of the basic annual budget.
The second example was the problem of taking a complicated report from an international broking house and turning the data into a recognisable input for the Xero accounting system. Xero now thinks the input via CSV file is a standard bank statement. The client has been saved hours of manual data entry where mistakes were easy to make because the required figures needed to be captured from many sources. This work was achieved with a FileMaker database system that reads in the one Broker Report and outputs several pseudo Bank Statements ready for uploading to Xero. The interface software is just re-used every month or can be used intra month as well, if needed.
Two head aches solved.