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Don't let technology be your company accounting's undoing! Use these three tips to ensure success

by , 12 September 2014
Do you ever have those days when you feel like technology is out to get you? Nothing works and all your appliances refuse to play ball.

This is frustrating when your cell phone won't connect to the Internet. But when technology messes with your accounting, it becomes a real problem.

Imagine entering all your accounting records for the month and suddenly the power goes out and you didn't save.

Luckily, you can avoid disasters like this by using these three tips...


Use three these tips to stop technology messing with your accounting

If you use any digital accounting software it's possible that technology could, at some point, work against you. That's why you should:
Tip #1: Save immediately and constantly
It sounds like an obvious statement but I'm sure most of us forget to save our work until we actually finish it. If the power goes out, you'll lose all that work and  have to start again.
This is where errors find their way in because now you're frustrated, fed up and may re-enter the information carelessly.
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It includes tools, templates and checklists that'll help you save on audit fees, reduce risks, record accounts accurately and be 100% legally compliant:
Related party relationships and balances schedule;
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Fixed Asset register; and
Management account template for productive hours.
Tip #2: Have multiple back up points
When you save your completed work, do so in different folders. Also use a remote storage device such as a hard drive or flash drive. That way if something happens to one version, you can recover it elsewhere.
Tip #3: Frequently check your computer for viruses
A virus could easily wipe your records off your computer, so check it frequently. Use antivirus software so your computer doesn't pick up any nasty bugs.
Using these three tips will help protect your accounting records and save you the trouble of re-entering everything. This will go a long way to making your accounting method more effective.

PS: We strongly recommend you check out the Practical Accountancy Loose Leaf service.  It will show you how to improve your cash flow, eliminate simple accounting mistakes, analyse your financial statements, identify errors, slash your audit fees and eliminate fraud in your company.

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