The chances are, you didn’t get into accounting to deliberate over messy books and waste hours trying to pinpoint a missing $1k. Your time and sanity could be much better applied to helping your clients understand their finances to make better informed decisions about their business.
Accurate financial information is the lifeline of a business. A general ledger is the core of your clients’ financials and business decisions. Since every transaction flows through a general ledger, any discrepancy will be compounded, and throw off all the books. A messy general ledger is not only time consuming for you, but can be a sign of bigger issues for your client, such as poorly managed transactions, budgets and a lack of transparency over business performance. By the time it gets to this stage, it becomes difficult to backtrack to the issues that could be causing the problems, preventing your client from taking action before they arise.
First off, let’s assume that most of the clients you deal with are not accountants. They are in business because of their strength in a particular field and not for their love of bookkeeping, or their accuracy at it.
CashManager accounting software has made it easier for non-accountants to record data, but sometimes, people need a little pointer in the right direction. End to end monitoring of financial data is essential for accurate reports, and your clients can make it much easier for you by cohesively following these three steps. This will save your sanity……and probably a good chunk of your unpaid time too.
Reconciling Daily
For the books to balance, accurately recording and verifying information is vital. When you get your clients into a habit of regular reconciliation, you will both have access to up to date and real-time information to guide the business. Any discrepancies such as double billing or unrecorded payments can be detected at the time and not a month down the line.
Reducing error with bank feeds
CashManager has made accurate reporting easier by minimalising human error with EziFeed. Data can be fed into the software directly from the bank which cuts out the tedious data entry and the mistakes that come with it. While there is minimal human interaction, your clients should be double checking that everything balances before it is periodically checked and approved by the accountant.
Track and Monitor
Accounting software allows accountants and their clients to work together more efficiently, with one set of data but viewed from two different systems. Regularly track and monitor any updates to detect problems as they happen.
You are much more to your client than a bookkeeper. Fewer data issues means that you can focus on your expertise in providing valuable business advice and less time fixing errors.
If you would like to help your clients with accurate reporting and make your life a lot easier, download a free trial.