How Does It Work?
Real-Life Business Cases
How PayTraq can help businesses to work more efficiently and save time
Business Summary
Staff – 2 people
Accounting – a bookkeeping service provider, 1 person
Monthly average supplies (issued invoices) – 69
Monthly average purchases – 4
Other business expenses documents (average) – 25
Primary documents processing – carry out by accountant, every Monday
Sales invoices are issued with each sale
All tax reports are submitted (VAT and payroll reports) on a monthly basis
Monthly scope of work and workflow
Staff
Issuing of sales invoices – 2 to 5 minutes per invoice
Purchasing data entry – 5 to 7 minutes per invoice
Outside accountant
Business expenses and checks entry – 1 to 2 minutes per document
Bank statement import and reconcilliation – 10 to 15 minutes a week
Payroll accounting and reporting – 5 to 10 minutes
Drawing up, checking and submitting VAT return – 10 to 15 minutes
Total working hours
Staff 4 hours and 25 minutes a month on the average for issuing sales documents, incoming bills registration and inventory management
Outside accountant 2 hours a month on the average for maintaining accounting records and preparing tax reports
Business Summary
Staff – 1 person
Accounting – a bookkeeping service provider, 1 person
Monthly average bills – 10
Other business expenses documents (average) – 8
Primary documents processing – carry out by accountant, every Monday
Bills to clients – the 1st day of each month (generated automatically)
All tax reports are submitted (VAT return and payroll reports) on a monthly basis
Monthly scope of work and workflow
Staff
With PayTraq, drawing up and issuing new invoices are automated (periodic invoices) and does not require any personnel or accountant input – 0 minutes per document
Outside accountant
Business expenses entry – 1 to 2 minutes per incoming bill
Bank statement import and reconciliation – 2 to 5 minutes a week
Payroll accounting and reporting – 2 to 5 minutes
Drawing up, checking and submitting VAT return – 5 to 10 minutes
Total working hours
Staff 0 minutes a month on the average for issuing accounts of sales
Outside accountant 1 hour a month on the average for preparing and maintaining accounting records
Business Summary
Staff – 9 people
Accounting – a bookkeeping service provider, 1 person
Monthly average sales – 860 products
Average sales receipts – 400
Monthly goods purchases – 1
The average number of business expenses documents – 18
Primary documents processing – carry out by accountant, daily basis
All tax reports are submitted (VAT return and payroll reports) on a monthly basis
Monthly scope of work and workflow
Staff
Sales and payments registration – up to 1 minute per receipt
Registration of online placed orders – 0 minutes with PayTraq integration with the online store
Outside accountant
Business expenses entry – 1 to 2 minutes per document
Goods purchasing data entry – 5 to 10 minutes per invoice
Bank statement import and reconciliation – 10 to 15 minutes a week
Maintaining cash transactions and cash book – 10 to 15 minutes a week
Payroll accounting and reporting – 15 to 25 minutes
Preparing, checking and submitting of VAT returns – 10 to 15 minutes
Total working hours
Staff 3 hours and 20 minutes a month on the average for issuing sales receipts and payment registration
Outside accountant 2 hours a month on the average for preparing and maintaining accounting records
Business Summary
Staff – 2 people
Accounting – a bookkeeping service provider, 1 person
Monthly average sales documents – 10
Monthly average business expenses documents – 2
Primary documents processing – carry out by accountant, monthly basis
Payroll reports are submitted on a monthly basis
Monthly scope of work and workflow
Staff
Drawing up invoices to customers – 1 to 2 minutes per invoice
Business expenses entry – 1 to 2 minutes per document
Outside accountant
Import and bank processing – 5 to 10 minutes a month
Payroll accounting – 5 to 7 minutes a month
Preparing, checking and submitting payroll reports – up to 5 minutes monthly
Total working hours
Staff 15 minutes a month on the average for issuing sales invoices and incoming bills registration
Outside accountant 15 minutes a month on the average for preparing and maintaining accounting records
Business Summary
Staff – 12 people
Accounting – a bookkeeping service provider, 2 people
Monthly average sales invoices – 95
Monthly average received bills – 65
Primary documents processing and bank reconciliation – carry out by accountant, daily basis
VAT returns preparing and filing on a monthly basis
Monthly scope of work and workflow
Staff
All invoices generated in online CRM system automatically are forwarded to PayTraq with the use of API – so 0 minutes per invoice.
Outside accountant
Business expenses entry – 1 to 2 minutes per document
Bank statement import and reconciliation – 2 to 5 minutes a day
Payroll accounting and reporting – 10 to 15 minutes a month
Preparing, checking and submitting of VAT returns – 10 to 15 minutes
Total working hours
Staff 0 minutes a month on the average for registering sales documents
Outside accountant 3 hours a month on the average for maintaining accounting records and preparing reports
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