In today's fast-paced accounting landscape, efficiency is paramount. The process of building financial statements for customers is time consuming, involving extensive data entry, cross-referencing, and verification. Additionally, humans are prone to errors and regulatory compliance is constantly evolving. All of this seems and is quite resource intensive, especially for a CPA firm looking to provide top quality service to its customers. What if there was accounting software that had a financial statement builder incorporated into it?  

Presenting, Stamped’s Financial Statement Builder. On top of a new way of engaging with customers with an optimized user interface and dashboard (reference other article/internal link), the Stamped app has a financial statement builder that will enhance CPA firm efficiency and change the way you complete client engagements.  

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How it Works

The first step in using the Stamped Financial Statement builder is selecting the template for your given engagement, whether it’s a compilation, review, or financial statement. The user-friendly interface helps you personalize the builder to your needs and ensures the generated statements align with your workflow. Once this is done, your statements will be generated with the given data.  

Within the app, you can modify and analyze individual line items for adjustments to financial statements, navigating and editing with ease. The app will also flag any line items that differ significantly from what they should be enhancing accuracy and compliance. The financial statement builder also allows the CPA to add footnotes to the financial statements allowing you to offer customized insights and detailed analyses enhancing the value of the reports.  

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Key Features  

Automation: With Stamped’s financial statement builder, your workflows and engagement as a CPA will change thanks to automation. Key to the financial statement builder is incorporated within the app and it allows you to automatically generate a financial statement with the data that is given to it. What about the data entry? Thanks to our integrations with QBO and Xero, all the work your bookkeepers have been doing year-round can continue seamlessly into our app plugging directly into our financial statement builder saving you a significant amount of time.  

Reduced Errors & Increased Accuracy: With data entry mostly automated, barring some adjustments, errors will significantly reduce. With less errors, you deliver more accurate engagements to your clients, and you do it even faster than you ever could before. Think of the days when you had to manually enter each piece of data and build the statements from scratch with links from all over the place such as multiple excel books and sheets. Not having to look all over the place also allows you to centralize the process of building your financial statements and helps ease the stress of maintaining compliance with the in-app compliance checks and red flag warning feature, warning you of any discrepancies and anomalies in your data.  

Customization: With Stamped’s financial statement builder, customization is at your fingertips. The app offers various templates, enabling you to tailor financial statements to meet client-specific needs seamlessly. Add notes and comments directly within the app, ensuring clarity and context for each statement. This level of customization ensures that every report is not only accurate but also personalized to align with your client's unique requirements, enhancing the overall value and professionalism of your service.

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Conclusion

Stamped’s Financial Statement Builder is revolutionizing CPA firm operations by automating the creation of precise financial statements and streamlining data entry with customizable templates. Ready to transform your accounting practice? Discover the efficiency and accuracy Stamped’s Financial Statement Builder brings to financial statement preparation. Visit Stamped.ai to learn more and see how our innovative solutions can streamline your workflows and elevate your client engagements.

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