Reducing Bookkeeping Errors

Errors in the financial record can wreaks havoc; bookkeeping errors can: throw off a budget, cause late and penalty fees to be incurred, create inaccurate financial forecasting, impact cash flow, and make tax preparation complicated and stressful—not to mention waste staff time and resources tracking down those errors and correcting them. If the bookkeeping has fallen into recent neglect or is starting to become error-prone, consider taking some corrective measures:

Get a system

Lack of a dedicated, consistently-followed system is often at the heart of the problem—especially when more than one person has access to the books or is responsible for issuing payments. While delegating some of the bookkeeping work can be helpful, having everyone do things their own way will inevitably result in errors, miscommunications, omissions, and duplications. A standardized bookkeeping process that everyone involved understands and follows leads to greater accountability and efficiency. And even you are doing it all yourself, you still benefit from having a consistently-followed system that can alert you to problems as soon as they occur—not months later. Automating software for better financial management has come a long way in giving entrepreneurs, solopreneurs, and small business owners access to professional guidance that both costs less and requires very little tech expertise. It is worth the time to research accounting software products for small businesses that fit your budget and handle your needs. Automating much of the payment, payroll, invoicing, and revenue-recording work can help free up time and reduce errors dramatically. Checkeeper has worked as a stand-alone service, as well as a software add-on, to help thousands of business owners get control of the finances. Add Checkeeper to one of your accounting or payroll software services to get customized business checks printed on demand, with payment data automatically synced across all channels.

Get a schedule

Saving the routine bookkeeping tasks for when there’s “more time” means they will likely never get done. Small business owners and entrepreneurs are busy people, and routine administrative and clerical work does not always feel like the highest priority. But putting off important financial management tasks can cause inconvenient—and costly—problems later. Having as designated time each day or a specified day and time each week, month, or quarter to pay bills, update invoices, reconcile accounts, and run reports from within the accounting software can go a long way in keeping busy business owners organized and efficient. A little time dedicated on a regular basis means fewer headaches and time-draining mistakes to correct later. If sticking to a dedicated schedule is becoming more and more challenging as your business demands grow, consider looking into professional help in the form of a part-time, full-time, or virtual bookkeeper who can take some of the work off your desk.

Get control

Developing a standardized financial management system in which executed tasks are subject to authorizations, oversights, and audits leaves less room for errors or fraud. Automating tools for businesses include a wide array of accounting, payment, and payroll software that can give even the smallest of operations some professional-quality guidance while enhancing both efficiency and accuracy. Online check printing and mailing through Checkeeper offers templates for customizing checks and includes automated features that help business owners stay in control. Authorize additional users, when necessary, and limit their access to only the features needed; implement workflow approval processes whereby certain payments must be approved before being issued; have all check data integrated with other widely-used financial software services for businesses, including QuickBooks Online, FreshBooks, Gusto, Square, and more.

Run regular reports

Tracking expenses and reconciling check records with bank statements and other financial documents is an important step in maintaining accurate records. Checkeeper offers users the ability to run check registry reports at any time, from anywhere. Search the check registry according to a check field—payee, date, amount, check number, etc.—or run a list of all checks created within a designated time frame. When it’s time to close the books for the year, export a complete check history of every check created. Running regular check registry reports helps reduce opportunities for recording errors and can keep business owners informed about where their money is going.

Outsource

When the bookkeeping becomes too laborious, complicated, or time-consuming, it may be time to consider a professional. Professional bookkeepers are well-aware of the benefits of online check printing, and many use Checkeeper already. For those business owners who prefer to handle the books themselves, Checkeeper can still be a great outsourcing option for check printing and mailing. Checkeeper can print and mail checks used for:

· routine bill payments to vendors and suppliers

· payroll checks for the entire staff

· customer rebates or refunds

Have a high-volume check order that needs prompt attention? A call or email to Checkeeper can get you a custom quote to have all your check printing and mailing handled promptly.