4 Ways Checkeeper Helps Make Expense Tracking a Breeze

Only about a quarter of Americans review their financial statements for unauthorized activity, according to reports. It is important to review not only the occasional financial statement, but each and every bank, credit, and institutional statement you receive in order to make sure no error, unauthorized activity, or unrecorded transaction goes unnoticed. Overlooking a problem or error can take months to correct later on and will likely incur financial fees and penalties.

Business owners can track expenses in real time

Many online, automating software services are available to aid routine bookkeeping, invoicing, and payment processing so that accounts are updated and accurate at all times. Tracking your expenses lets you know where your money is going. Expense tracking is vital to small business bookkeeping because it helps owners:

· Keep track of accounts payable

· Better control cash flow

· Adhere to a budget

· Prepare tax documentation

· Pay employees promptly

· Discover places to cut spending and save money

· Spot unauthorized charges

· Reduce extraneous fees

· Forecast more accurately

If keeping meticulous track of business expenses is something you’ve let fall into neglect, consider four ways Checkeeper can help today with better expense tracking:

1. Automatic recording

Checkeeper accounts come with a secure, online check registry that automatically records and stores the details of each check created. Put an end to manual check registry updating—as well as habitually forgetting to do it—by adopting automated software that not only does it for you, but can also sync the check data with other compatible accounting and payroll software so that errors and neglect become habits of the past. Create a free Checkeeper account to get started, and log in to see all the widely-used accounting applications with which Checkeeper is compatible. No more physical check registries and paper ledgers; use Checkeeper’s automated online registry for fast, clean, accurate, real-time recording every time a check is created.

2. Search and reporting

Monitoring expenditures is an important bookkeeping task, but it is also a time-consuming one. Not with Checkeeper. The Checkeeper online registry is instantly searchable according to any check field. Don’t remember the payment details of a check issued long ago? If you know any check element: payee, date, check number, amount, or even just a rough time frame for issuing, Checkeeper can find it quickly—much faster than you could do it if you had to search through books of paper registries. Checkeeper offers powerful reporting features, as well, so that you can run reports on demand for any week, month, quarter, year, or custom time frame that you need, and download, print, or share a full record of all checks created. In addition to the pertinent payment data (payee names, amounts, dates, etc.) are also the names of the authorized users who created checks and the dates and times of each check’s creation. Checkeeper reports make it easy to compare check records with bank statements, as well as credit and other financial statements to see exactly where your money is going.

3. Bill-to-check conversion options

Checkeeper makes paying invoices even easier, faster, and more accurate with direct bill-to-check conversion options for Odoo or Xero users. Link Checkeeper to your other account and import the data from unpaid invoices into Checkeeper. The Checkeeper editor can then generate checks automatically filled in with invoice data. Checks to the same vendor are consolidated into a single check with an attached invoice table that breaks down the total. These records are saved for you in your registry so that you can review more efficiently the total amount of money that has been sent to each vendor in any given time frame.

4. Easier account reconciliation and budgeting

Compare your check spending records quickly and accurately by printing out a comprehensive Checkeeper report to contrast with other spending records, as well as with your budget, in order to make revisions that accurately reflect the real costs of goods, services, utilities, and essentials. Link Checkeeper to a compatible accounting, payroll, or payment software service, such as Gusto, Square, QuickBooks Online, FreshBooks, Xero, Patriot Payroll, and more in order to sync check data with other records and keep financial data updated in real time, accessible from anywhere you work or travel.