1. Capture financial data automatically

You can do this with tools like QBO and HubDoc FetchIt Software.

If using Stripe, you can automate your payouts to your business checking account.

Check out Automating Banking Data Entry.

2. Create Bank Feeds Rules Automatically

3. Automate expense management

You can do this with a tool like Expensify.

a) Remove the manual spreadsheet expense tracking and approval

b) Removes potential duplicate data entries

c) Automatically approves expenses that don’t require a manager’s approval based on the software’s ability to memorize expense types (requiring approval or not) based on your expense policy

Make sure you add the tool you use and how to use it to your Expense Policy in your Digital Operations playbook.

4. Manage and distribute 1099 tax forms in a streamlined way

You can do this with a tool like Track1099 (for US taxes only)

a) Streamlines management and distribution of 1099 tax forms

b) Keeps submissions accurate, consistent and compliant

5. Streamline your payroll

Tools like Gusto are excellent for streamlining your payroll and ensuring compliance.

One con of using Gusto is that it does not integrate with many external tools. This means you may not be able to further automate your payroll processes due to this lack of integration with other tools via Zapier. There are some exceptions. For example, Gusto does integrate with Trainual.

Another tool Gusto integrates with is Connecteam - this is a scheduling and communications tool for teams where your team can schedule and track their time. You can integrate Connecteam with your Gusto account, which will partially streamline the transfer of hours for payroll purposes. However you still have to perform 4 manual steps to ensure your payroll is accurate.

Here is How to Integrate Connecteam with Gusto.

If you are running payroll in QuickBooks, here is how to set up automated pay runs in QBO.