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Don't let your accounting data get out of hand! Do this to keep it organised and accurate

by , 25 September 2014
If you want accurate accounting, you need accurate accounting data. This means real numbers from real sources; otherwise your accounting just becomes a lot of guesswork. And that means your books won't balance and money will go missing somewhere.

You can prevent this numerical mess from taking over your accounting records though. All you have to do is carefully manage your accounting data.

Do this to ensure it's always organised and accurate...

 

The one thing you should always do to keep your accounting data organised and accurate

 
To keep your accounting data organised and accurate, enter it in batches depending on the support documents you have.
 
What I mean by this is take documents, such as invoices, receipts and bank statements that show your transactions, and put them into batches. 
 
Organise these batches based on date, so if you have ten documents for the week, enter those ten values into your records.
 
Then file your supporting documents away and date them so you know when you entered them.
 
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Here's why this will keep your accounting data organised and accurate

 
By entering small batches of accounting data into your records, you can focus on keeping them accurate. If you enter massive amounts of data at one time, you could easily make a mistake because of the sheer volume of work.
 
Using the physical support documents also helps you ensure you enter the correct amounts instead of estimating them and getting it wrong. 
 
And filing the documents away gives you a way to double check your accounting data later on if there seem to be any problems.
 
Just by doing this simple thing you can always keep your accounting data accurate and organised. 


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