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The best way to ensure your company accounts are always 100% correct

by , 23 September 2014
It's vital to keep your accounting records 100% correct and up-to-date. Otherwise, you could run into financial difficultly when you suddenly realise you don't have all the information you should have.

Thankfully there's a simple way to keep your records in good working order...

 

Here's what you must do to keep your accounts correct at all times

 
You should have supporting documents that give you the details of all your income and expenses. These could include a bank statement showing the income that went into your account or a receipt that shows how much you paid someone.
 
These supporting documents are the key to keeping your accounts accurate and correct.
 
You must keep copies of these documents so you can check and verify all of the figures in your accounting records.
 
But this takes an effective system to get right...
 
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Here's how to create a system to manage your accounting support documents

 
Firstly, create a filing system for these documents. It can be in hard copy form if you want to print every thing or digital if you want to scan physical documents. 
 
On each document, have the date when you captured it into your account records so you don't enter it twice. Then file it away in that month.
 
Also separate income from expenses and different types of amounts in your folder dividers.
 
By doing this, you can keep a constant record of where all your accounting data came from to ensure it's always correct. 

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