Docyt

What is Docyt?

Docyt is an AI-powered accounting automation software platform pronounced as "docket." It digitizes financial data, automates workflows, and continuously reconciles the books to provide real-time accounting. Docyt reduces the cost and technical complexity of bookkeeping and back-office tasks for businesses and accountants. It is designed to help businesses make faster decisions through efficient data management and workflow automation. Docyt offers various plans catering to different transaction volumes and needs of businesses, with features like RevFlow for revenue reconciliation, ExpenseFlow for expense management, ClosingFlow for month-end closing, and InsightFlow for financial reporting.

Who created Docyt?

Unfortunately, I couldn't find specific information on the creator of Docyt or a detailed overview in the documents provided. If you have any other specific questions or need assistance with anything else, feel free to let me know!

What is Docyt used for?

• Automated workflows for bill pay, reimbursement, receipt capture, credit card management
• Automated reconciliation
• Real-time financial reporting including P&L, balance sheet
• Track industry-specific KPIs and metrics
• Automated expense and revenue categorization and reconciliation
• Streamlined document collection
• Month-end close checklist
• Basic consolidated reporting for financials, income statement, balance sheet, cashflow
• Department-level P&L and access controls
• Industry-specific consolidated reporting for financials, income statement, balance sheet, cashflow
• Automated reconciliation for revenue and expenses
• Automated workflows for bill pay, reimbursement, and receipt capture
• Real-time financial reporting including P&L and balance sheet
• Customized reports and dashboards
• Tracking industry-specific KPIs and metrics
• Electronic ACH for payment processing
• Consolidated reporting for financial statements
• Expense management automation

Who is Docyt for?

• Accountants
• Small and medium-sized business owners
• Accounting firms

How to use Docyt?

To use Docyt effectively, follow these steps:

1. Sign Up: Start by signing up for a Docyt account through their website.

2. Onboarding: Complete the onboarding process by providing necessary business details and preferences to tailor the experience.

3. Navigation: Explore the various features like RevFlow for revenue reconciliation, ExpenseFlow for managing expenses, and InsightFlow for financial reporting.

4. Customization: Tailor your account by setting up Business Key Performance Indicators, choosing suitable budget settings, and configuring electronic ACH preferences.

5. Choose a Plan: Select a suitable pricing plan based on your transaction volume and specific business needs.

6. Support: Utilize the available support resources provided by Docyt, including dedicated bookkeeping experts and email support.

7. Multi-Entity Support: Benefit from Docyt's multi-entity accounting capabilities to centrally manage accounting operations for multiple businesses effortlessly.

8. Industry-specific Adaptation: Leverage Docyt AI to adapt to your industry-specific needs, track KPIs, and generate real-time financial reports tailored to your business.

9. Departmental Accounting: Access departmental financial reports to track profitability and metrics specific to each department.

10. Franchise Management: If relevant, utilize Docyt for franchise accounting and reporting to efficiently grow your empire.

11. Continuous Reconciliation: Take advantage of Docyt AI's continuous revenue reconciliation feature for accurate bookkeeping.

12. Document Understanding: Let Docyt AI read and understand your expenses by extracting information from receipts and invoices accurately.

By following these steps, you can effectively harness the power of Docyt's AI-driven accounting automation platform to streamline your financial processes and gain real-time insights for informed decision-making.