Improved Financial Auditing With Checkeeper Reports

Regular auditing and reviewing of the books is important for staying on top of spending and money management, and the practice alerts business owners quickly to overspending, errors, and potential abuse. Checkeeper offers powerful reporting features that can aid official and unofficial financial audits as well as assist with the regular review of records for current or previous years; reports can also aid the planning for upcoming years.

For the current or previous year:

Simplify bank reconciliation

When you need to match your check registry with your bank statement, as well as with credit card statements and other monthly financial documents, you need accurate records to get the process done expediently and properly. Checkeeper offers users the option to run unlimited reports for any month, quarter, or custom time frame desired so that they can retrieve up-to-the-day records of all check spending. Print or download a report in order to compare checks issued to checks cashed so that you can get a real-time look at cash flow and ascertain that financial balances match up.

Catch mistakes

The Checkeeper check registry greatly reduces chances for check-entering errors because it automates the recording and storing of all payment data for users and keeps check data updated in real time. Errors resulting from omission, duplication, number transposition, typos, and misrecorded names and amounts are common when data has to be entered manually, but they can be eliminated with the smart check registry that records data exactly as input. Running reports directly from the smart check registry gives users a comprehensive list of all payment data for each check—including authorized user who printed the check and date and time of check creation—so that Checkeepers can spot errors before they become headaches.

Assist tax preparation

Bookkeepers and accountants are very familiar with the benefits of online check printing and mailing, and many use Checkeeper to manage payments and run reports for clients. When it’s time to close the books and hand over records to your accountant for analysis or tax preparation, Checkeeper makes the process a simpler and more accurate affair. Generate a comprehensive check spending report for the entire year, and export it into a file to print or email. The report will contain the payment data for every check created in the account, along with details about the address, amount, authorized user who initiated the payment, and the date and time of printing.

For the upcoming year:

Adjust the budget

A good budget requires accuracy in its estimates, or the actual expenditures will not match up with the projected costs. Budgets can go quickly awry due to inflation, unexpected expenditures, and budgets that are either too narrow or too broad to offer useful guidance. When comparing projected expenses to actual expenditures, Checkeeper reports help aid the process. Search the smart check registry according to any search field, and pull up a complete list of all payments that fit the relevant term. Search according to vendor or category listed in the memo to get a list of payments that can then be compared to the budget to see where spending became excessive. Using the Checkeeper reports, users can adjust future spending and make budgets that align better with realistic prices.

Forecast more accurately

The financial reports business owners run help them make better and more accurate predictions about future revenue and the projected financial growth of their company. Those projections can be used to guide decisions regarding investing as well as hiring. Checkeeper allows gives users access to unlimited checks and snapshots of their account histories without ever touching their funds; Checkeeper keeps business owners in control of their own money.

Eliminate waste and prevent fraud

Regular audits of the finances can alert business owners to wasteful spending. Reports run through Checkeeper document all the checks paid out to various companies, suppliers, service providers, freelancers, and affiliates so that business owners can scrutinize spending to see what can be cut. You may be overpaying for certain services or inventory, or you may be subscribing to separate services that offer overlapping features.  Running regular reports can alert you to wasteful spending earlier rather than later so that corrections can be made quickly. Checkeeper reports will list all the payment fields included in each check, as well as the authorized user who initiated each payment and the date/time of each check’s creation. This helps add transparency and accountability to a payment process in which multiple users are authorized, and it helps protect financial and account security.