Multi-Owner Permissioning for Hotel Portfolios: Reporting Without Duplicate Books
A management company we hear from often runs one hotel it owns outright alongside roughly thirty hotels it manages for other owners. Each…
The Hotel Month-End Close Checklist Most Controllers Are Missing
It’s the 25th of the month, and close still isn’t done. The trial balance is close, but not exact. Someone is still waiting on an OTA pay…
Reasons Why Your Accounting Firm Needs AI-Powered Bookkeeping to Prepare for Tax Season
Doing the same thing every year and expecting a different result is essentially what tax season is for many businesses. It’s the annual p…
Bookkeeping vs Accounting Automation: Why You Can’t Have One Without the Other
In corporate finance, accounting and bookkeeping are two sides of the same coin. While their roles are different, effective accountancy c…
AI-powered Bookkeeping Software for Accounting Firms
Managing multiple clients across various industries can be a juggling act for accountants. Suppose a tool was designed to assist you with…
15 ChatGPT Prompts for Savvy Accountants
Savvy accountants are keenly aware that keeping up with the latest technological developments is a necessary part of staying competitive…
Data Reconciliation’s Role in Accounting: Exploring AI Payment Reconciliation
Data reconciliation in accounting is not at all a backstage activity; it’s a frontline warrior in the fight for financial accuracy and in…
The Future of Accounting is Here: AI Balance Sheet Automation
Are you tired of manually wrestling over those balance sheets? Well, good news, my friend, cuz times they are a-changin’, and there’s a n…
Soft-Close Your Books Daily with Docyt
Closing the books is vital for nearly all businesses, ensuring every transaction is accounted for accurately. Traditionally, the books ar…
Unit Economics: What’s a Good Ratio, and Why?
Unit economics is the one must-know concept for any business eyeing sustainability and progress. This article is the second in an informa…
Bookkeeping vs Accounting: What’s the Difference?
As a business owner, your company’s lifeline lies in the management of its finances. However, navigating the often-confused processes of…
Introducing Docyt University: Level Up Your Accounting Skills
In today’s technology-driven world, Artificial Intelligence (AI) is at the forefront of reshaping accounting and financial management. Re…
ClosingFlow: Making Your Month-End Close a Formality
In thе еvеr-еvolving world of financе, accuracy and еfficiеncy arе paramount. Staying ahead in a competitive environment requires a strat…
AI-Powered Tax Preparation: Simplifying Tax Time with Docyt AI
Tired of the annual tax season stress? Endless paperwork, complex calculations, and looming deadlines can make even the most organized in…
AI Ethics in Accounting: Protecting Data Privacy and Compliancе
For the past several years, chatter about innovation or cutting-edge technology in the accounting field almost always includes the concep…
Is Automated Accrual Accounting For You?
As small to medium-sized business owners, we are all too familiar with the intricacies of accrual-based accounting practices and principl…
Catch-up Bookkeeping: Avoid Falling Behind with AI-Automated Software
Are you a small business owner who finds yourself drowning in bookkeeping tasks? As your business grows, keeping up with the ever-increas…
Revenue Accounting: Reconciliation vs Recognition and Why it Matters
The ASC 606 and Revenue Recognition Principle Let’s start with a quick refresh of ASC 606. ASC 606, short for Accounting Standards Rule 6…
Introducing Docyt’s Innovative Dеposit Tracking Systеm
You are about to experience a seismic shift in how you manage your finances and trust us, you are going to love it! Wе’rе thrillеd to ann…
Understanding AI-Powered Document Data Extraction
In today’s digital agе, whеrе businesses thrive on streamlined workflows and еfficiеncy, thе rolе of documеnt еxtraction cannot bе undеrs…
Comparison: Manual to Automatеd Month-End Closе
Imaginе this: it’s thе еnd of thе month, usually you are dreading the day full of time-sucking tedious tasks, but not this time. You are…
Corporate Finance Make-Over With Generative AI Accounting Software
Are you a corporate finance leader looking to transform your internal finance process? If you are in need of an innovative solution to k…
Automating Revenue Cycle Accounting & Management with Docyt
Do you feel stuck in a seemingly endless stream of numbers, receipts, and bills? You are not alone. Most of us in the accounting professi…
How to Combat the Accountant Shortage with the Power of Artificial Intelligence
It’s no secret that accounting firms and internal finance departments alike have been overwhelmed and understaffed due to a declining num…
Upskill Your Accounting Resume: Ride the AI Advancement Wave
As the introduction of AI reaches most industries, some people have felt the effect at a faster pace than others. One of the most notable…
Accounting Transformed: The Power of Machine Learning in Accounting
In rеcеnt yеars, thе accounting landscapе has еxpеriеncеd a profound transformation, drivеn by tеchnological advancеmеnts. Among thеsе, m…
Docyt’s Real-Time Financial Insights Dashboard: Get a Snapshot of Your Business Performance
July 2023 marks a special milestone for Docyt as we proudly unveil our much-anticipated Real-Time Financial Insights Dashboard. Now, our…
How Generative AI is Improving Client Communication for Accounting Firms
In the month-end close process, two things are certain to happen. 1) The accountant will need various documents from the client and 2) th…
Elevate Your Bookkeeping with Artificial Intelligence Integration
Artificial Intelligence (AI) technology has come a long way over the past few decades. Starting with advancements in algorithms that mimi…
Crush the Client Advisory Services Game with Generative AI Accounting
You didn’t become an accountant just to be chained to spreadsheets and drowned in data. You had grand ambitions of making a real impact b…
Is Artificial Intelligence Here to Stay?
Artificial intelligence (AI) in accounting Since its inception, AI has been equally hyped and feared. Some believe that AI will lead to t…
How to Optimize the Month-End Close Process
The closing of monthly financials is a critical time for businesses of all sizes. During this process, all transactions for the month are…
How to Improve Accounting Processes and Procedures to Save Time
Accounting is a field of repetition with very few one-time events. Many accounting tasks should be completed on a daily or monthly basis.…
How Can AI Help You Save Money on Accounting Costs?
Artificial intelligence (AI) accounting software can save you money by automating bookkeeping practices, intelligent reporting, documenta…
Benefits of AI-Based Bookkeeping for Small Business Owners
As small business owners know, time is limited and the work is plentiful. Fast-decision making is essential and access to key financial d…
5 Ways Artificial Intelligence Accounting Software Can Help Finance Teams Be More Proactive
5 Ways Artificial Intelligence Can Help Finance Teams Be More Proactive Incorporating automation and artificial intelligence into your ac…
AI in Accounting: 3 Reasons Why Accountants Should Care About and Adopt AI Now
Now more than ever, accountants need to care about AI. We hear it in the news. Generative AI is disrupting a multitude of industries from…
What is Credit Card Reconciliation in Accounting
Company credit cards are now arguably the most popular way to pay for business expenses. Whether it’s a casual lunch or a business trip –…
What is the Difference Between Traditional and Automated Expense Management?
A business’ success is defined by their ability to sustain long-term profitability. For a business to be profitable, their revenues must…
How Automating Journal Entries and Document Matching Brings Tax Time Relief
Benjamin Franklin once uttered the famous words, “Nothing is certain except death and taxes.” Over 200 years later, this sentiment still…
How Automating Expense Categorization Brings Tax Time Relief
The date of April 15th means one thing to most people – tax season is here. Although this time of year can be challenging, tax accountant…
Revenue Accounting – How to Increase Revenue for Multi-Location Businesses
Running a successful business can be a challenging undertaking for even the most experienced professionals. Managing revenues, recruiting…
Artificial Intelligence and Automation Work Together To Turbocharge Bookkeeping and Back Office Tasks
Although artificial intelligence (AI) is seemingly a recent phenomenon, its origins date back to the mid 20th century. In 1951, an AI-bas…
Revenue Accounting – How to Understand your POS Revenue Report
All companies have to generate revenue in order to be successful. Whether you’re a hotel, a restaurant, or a clothing store – revenue is…
What is Revenue Accounting and Why is it Important?
Earning cash and generating revenue is a fundamental aspect of doing business. Regardless of whether you’re selling hot dogs, clothing, o…
How Can Accountants Automate Data Entry?
Accountants can spend over 10 hours a week performing manual data entry tasks – this adds up to more than 500 hours yearly. Whether they’…
Complex Multi-Location Expense Management Made Easy
Many people dream of building and scaling a successful company. However, expense management can be a challenge for owners with multiple l…
How Multi-Entity Financial Reporting Can Unlock Performance Insights
Managing multi-entity companies comes with inherent financial challenges. Each location, subsidiary, or operational entity has its own un…
How Will ChatGPT Affect the Future of Accountants and Bookkeepers in 2024
If you’ve been online or active on social media in the past few years, chances are ChatGPT needs no introduction. As a mainstay of Americ…
Continuous Reconciliation Makes Month-End Closing Faster & Easier
Accounting is the job that’s never finished. As a small business owner this means preparing tax returns, reporting financial data, and pe…
Automated Financial Reporting and Statements for Your Tax Accountant
The tax season filing deadline of April 18, 2023 is right around the corner. If you’re a small business owner, that means it’s time to ca…
Unlock Your Credit Potential: How Integrating Docyt and Corporate Cards with Up to 5% Cashback Can Help Your Credit Score!
Using credit cards offers a number of benefits over cash-based payments. Better cash flow management, increased spending ability, and cre…
The KPIs You Need to Be Tracking in Quick-Service Restaurants (QSRs)
Are you a quick-service restaurant (QSR) owner or operator? If so, understanding the financials of your business is essential to success,…
How Non-financial Metrics Help in Understanding the Overall Health of a Hotel Business
As a hotel owner or manager, it’s important to keep track of both financial and non-financial metrics in order to get a complete picture…
Gain Control with Strategic Department Budgeting with Live Financial Reporting
Large corporations are highly distributed. Profit incentives, shareholding structures, and financial success metrics are jointly owned by…
Employee Cards: The Simple Way To Manage and Collect Receipts
Many businesses require employees to incur various expenses such as hotel costs, airfare, and dining. However, managing these costs can b…
How to Empower Your Business Controllers and Operators to Grow Your Gross Profits
The relationship between franchise owner and general manager can make or break an organization’s success. A foundation of mutual trust, r…
How Accountants & Bookkeepers Can Leverage Accounting Automation
Recent advancements in artificial intelligence have fueled media speculation causing people to wonder if AI could eventually replace huma…
Intercompany Transfer Reconciliation: Are Your Inter-entity Transfers All Tied Up and Reconciled?
Companies often have multiple subsidiaries or entities – and it’s probably more common than you think. Did you know Super 8 hotels are ow…
How to Protect Your Blank Check Stock Paper and Prevent Fraud
Picture this… You’re the owner of a successful deli that’s been in business for over 15 years. Every day you wake up, put on your apron,…
Are You in Control of All the Credit Cards that were Created in the Name of Your Business?
Trust But Verify All Spending As a business owner, it’s crucial to strike the right balance between trust and oversight. On the one hand,…
Learn the Benefits of a Consolidated Balance Sheet for Multiple Companies
Effectively owning and operating multiple companies requires having a team of knowledgeable individuals in place such as executives, mana…
Top 3 reasons you should run your vendor reports monthly, quarterly and annually
Many of us can relate to how stressful paying bills can be. For small to medium-sized businesses, it’s crucial that they pay on time and…
Best Bill Pay Solutions for Payments Made Via Credit Card, Check and ACH
Back in the day people only had a limited number of options when it came to paying for things. A few short decades ago cash was king. The…
Best Practices for Valuing and Selling Your Business
After careful consideration and several conversations with friends, family, and colleagues – you’ve finally come to the conclusion that i…
Applying for a Loan? Make Sure Your Personal Financial Statement is Up to Date to Get Approved!
What is a personal financial statement? A personal financial statement is a summary of your current financial health, including your asse…
The Shift to Real-Time Accounting Visibility with Accounting Automation
The technological shift towards automation is changing the way companies do business. Accounting in particular is no exception. The probl…
Will Artificial Intelligence (AI) Replace Accountants?
As the use of artificial intelligence (AI) in accounting becomes more prevalent and the technology becomes more advanced, the question on…
How to Strategically Build a Powerful Accounting Tech Stack
Technology has had a profound impact on the accounting profession. Today, several innovative technologies can help accountants streamline…
The Benefits of Accrual Accounting for Business Owners
When you own a business, one of the most important decisions you’ll make is which accounting method to use. Generally, you have two choic…