Whether you take care of your accounts by choice or by obligation, there are rudimentary tricks that allow you to keep your accounts up to date in an efficient and relevant way while simplifying your life. What are these tricks?
Enter day-to-day accounting
Even if it seems tedious, entering the accounting documents as soon as they are received is extremely efficient. Indeed, processing documents on a day-to-day basis contributes to:
· to have an always up-to-date accounting
· to know in real time the performance and the cash position of the company
· to hold the information needed to quickly take the decisions necessary for the development of the company.
Adopt a rigorous storage method
A rigorous filing of documents is the basis of well-kept accounts. It is recommended to divide the files into six categories, suppliers, customers, the bank, the staff, the tax administration and finally the mail to be processed.
Sorting and classifying is indeed an excellent reflex to adopt which allows:
· not to leave documents lying around and to avoid taking the risk of losing them
· to save time when looking for accounting documents, these being classified and accessible immediately without searching
Do the bank reconciliation regularly
Today, bank accounts are accessible online and daily transactions can be downloaded. Some software even integrates the entries directly into the accounts, which avoids data entry. You can thus point your accounts and make your bank reconciliation in a few clicks. Reconciling your accounts regularly makes it possible to detect anomalies immediately and optimize its management:
· uncredited remittances and bank errors are noticed immediately, and complaints are made without delay
· bank transactions are posted directly to supplier and customer accounts. Missing invoices are detected immediately and can be requested from suppliers.
· accounts are updated: balances due to suppliers and unpaid customer invoices are accessible in real time, which makes it possible to know the due dates, follow up on overdue customers and improve debt collection.
opt for an accounting software adapted to your needs
There are many accountings software out there and it can be difficult to navigate. In order to choose a suitable software, it should be selected on the essential criteria, namely:
· the intuitive character: the more the functions are obvious and the less you look for how the software works, the more time you save
· practical and automatic functionalities: the integration of banking operations in a few clicks or the possibility of configuring and generating tailor-made reports, thus avoiding accounting restatements, saving precious time.
· maintenance: being able to contact the after-sales service in the event of a question or malfunction is also an important criterion to avoid wasting long hours trying to find out how to use the software and adapt the accounting statements to your needs.
Deal with anomalies when they arise
You are missing an invoice; you do not know how to account for an expense or what is a direct debit? Request missing documents or request information as soon as the case arises. This will prevent you from forgetting to deal with the problem, keeping questions pending, and you will be on time to contest an undue charge. If you need to ask an employee about an expense, you'll be more likely to get information while the transaction is still fresh in their mind.
In addition, dealing with accounting points as the year progresses makes it possible to refine the work of preparing the balance sheet and annual accounting reports.
Accounting essentially requires rigor and regularity to be properly followed and allow optimal business management. Entering and classifying day-to-day accounting documents, carrying out bank reconciliation regularly and opting for functional software saves valuable time, makes life easier and optimizes bookkeeping.
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