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What is Accounting Workflow Management Software and How Can It Benefit You?

A paperless world comes with many advantages. Sometimes, locating a file isn’t one of them.

And with thousands or millions of documents, endless meetings, changing user access, broken communication, and tool or task switching, your account management can quickly dissolve into chaos.

One solution to this problem is accounting workflow management software.

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Introduction: What is Accounting Workflow Management Software?

Workflow management software, also called project management software, is any platform that is used to organize, manage and create business projects and processes. The software will, among other things:

  • Fraud

  • Money laundering

  • Breach of sanctions

  • Bribery

  • Tax evasion

  • Corruption

Note that if you purchase workflow management software that is specifically meant for your industry, such as accounting workflow software, you will be able to avail helpful features that directly address your needs.

You also have the option of having your workflow software be part of an all-in-one management solution that will solve all your organizational needs.

Which Accounting Workflow Software is Right for Your Business?

It is important to understand what your company’s current workflow looks like and what your goals and requirements are.

The following questions will help you determine where in your workflow journey you are:

  • How do you keep track of tasks?

  • Are there established processes for the tasks?

  • Does your tech stack contain a workflow solution?

  • Do you require tax-specific workflow management software?

  • Is there company-wide visibility for tracking tasks?

Benefits of a Workflow Management System

How much time do you think your team spends every week managing projects?

Probably more than you’d like. It could also be hindering your business growth.

Businesses require workflows to avoid overlooking things or getting them lost in virtual spaces. With an accounting management system, your team can remain updated on the workflow with a central dashboard that contains several relevant details, such as project status, requirements, and ownership.

1. Easy Project Creation & Management

If you are working on a large, complex project, it is always a good idea to break it up into smaller, more manageable tasks.

However, organizing and managing so tens or dozens of tasks can in itself be challenging and frustrating. This issue can be solved with a workflow management tool.

  • Easy subtask creation allows you to break down complex projects into smaller tasks and assign these to the right people.

  • Task templates allow the whole team to save time.

  • It becomes easier to keep track of tasks that are ongoing, completed, or need to be done at a glance, especially with a glance at the dashboard.

2. Improved Team Coordination & Accountability

Since everyone on the team has access to the project dashboard, everyone knows the status of the project and what is assigned to whom. Hence, they are always aware of pending and completed tasks, and can hold themselves and each other accountable for completing the project on time.

3. Sending Client Organizers

Client organizers are a way to survey clients and help your company identify opportunities to deliver the best work for them. In particular, they are a crucial part of any tax company. A great accounting workflow solution can also double as a client workflow software.

Instead of sending out client organizers by mail, you can send them online, which will save you time and money, and probably also make things more convenient for your client.

With an organized system to record, store and send data attached to client files, you can save both time and money.

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4. Recording All Tasks

Accounting workflow management software will automatically keep a record of all your projects, whether complete, ongoing or to-do.

This can come in handy if there is ever a time you need to recount tasks and projects, whether for business or legal purposes.

Additionally, having all your records handy is a good way to review performance and remain prepared for client or internal work.

5. Better Time Tracking

By managing workflow, you can more easily identify bottlenecks in your process that are affecting your business.

For example, you could be spending more time on certain clients than what was allotted, which could in turn be affecting how you are managing your other clients.

However, with workflow management software, you can become more aware of employee bandwidth, project demands, and much more.

6. Project Transparency

Since you and everyone on your team will have access to project transparency, you will not have to keep following up with each other by asking about task status. You will always know if the deadline was met or if an employee finished their task. Some software even allow you to set alerts for projects so you can know when you are meant to take over.


As your business grows, investing in a good software for the accounting workflow process can help you remain organized and at the top of your game. Implementing automation and modernization wherever appropriate and practical can offer many benefits. An example of this would be Crush Errors, which is used for reconciliation.

Reconciliation is one of the most tedious aspects of accounting and can throw the rest of your processes into chaos if not done correctly. That’s why so many companies approach NextGen Accounting. We provide credit card reconciliation services, bank reconciliation services, and consulting.

Contact us now to get started!

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