Devil is in the Details
Bookkeepers tend to encounter errors, identify breakdowns and much more. Whether these errors are identified and corrected will be up to your financial professional.
When completing bookkeeping services, reconciling accounts and categorizing transactions, you will encounter a plethora of information. When processing this information, it’s imperative that it is processed as accurately as possible. While that may sound nice, here is what that actually means
Identifying Potential Fraud - Transactions that are out of the ordinary in amount or payee require additional investigation or clarification from the client.
Reviewing Data Transfers - When using third party tools or point of sale systems, there can be errors when transmitting information into an accounting software.
Recognizing Trends - Knowing a business’ normal is key to recognizing trends. Auto-payments, monthly transactions and payments are some key trends to recognize for a business.
Rectifying Breakdowns - So you have identified a problem, now it is time to fix it.
Making Applicable Suggestions - Knowing when to pivot from a workflow or process can support efforts in more accurate data processing.
While accounting systems and procedures have advanced past pen and paper, human error and technological error still exists. Being able to identify, rectify and prevent issues when managing finances makes the difference when hiring a financial professional.
If you are in need of financial management services and do not know where to start, click here to schedule a free consultation!
This blog is for educational purposes only. Mikaesbooks is not a tax advisor or legal professional. Seek an Enrolled Agent, EA or a Certified Public Accountant, CPA, or other tax professional for more information.
