Cloud-based accounting solutions provider AccountantsWorld today announced its integration with Ledgersync into its Accounting Power software. The addition converts low-margin writeup work into a more profitable service while reducing accountant workload.
According to its system usage data, AccountantsWorld said after-the-fact writeup engagements consumer between 20 and 40 per cent of an accountant’s time. The Ledgersync integration should reduce workload through automatic transaction classification. Bank and credit card transactions, canceled check images and bank statements can be accessed within the Accounting Power platform. The reduction of manual data entry also makes the after-the-fact work more profitable.
“In recent years, accounting has been dominated by DIY systems created for small businesses,” AccountantsWorld cofounder and CEO Dr. Chandra Bhansali said. “This model hurts both accountants and their clients. AccountantsWorld’s focus is on putting accountants back in the driver’s seat so they can best serve their clients. The integration of Ledgersync with Accounting Power is an important step in this accountant-centric direction.”
“Until now, accountants had to close the books for most write-up clients during the peak of the tax season, which made tax season very stressful,” Ledgersync CEO Maurice Berdugo said. “We are truly excited to collaborate with AccountantsWorld as Ledgersync’s integration with Accounting Power gives accountants the ability to spread their write-up work throughout the year, making tax season far less stressful.”