GUARANTEED
GREAT IDEAS!
Six
Accounting Tips from Rebecca Cox, C&P expert
trainer
Rebecca Cox
has trained hundreds of Clients & Profits users
since joining the company in 1991. Here are her
best accounting tips:
Always print proof lists: "Sure, you work
carefully. But sometimes mistakes happen. Checking
proof lists before posting gives you a chance to
catch and correct mistakes before they affect the
jobs, clients, the G/L, etc.--which are
time-consuming to undo."
Check your trial balance every day: "The
trial balance provides an immediate overview of
account balances. It's very easy to run, and takes
only seconds. Be sure to review key accounts like
cash, A/P, A/R, income, and job costs for any
balances that just don't look right."
Lock accounting periods: "It's a good idea
to lock all accounting periods, except for the
current period, to keep people from working in
prior months that are closed."
Don't ignore accounting problems:
"Accounting problems just don't go away--they
usually reappear when you have the least time to
fix them, like at year-end. So use the G/L tools
provided by C&P, like the Auditor, to find and fix
problems when they occur."
Reconcile bank accounts monthly: "As an
accountant, it's your duty to watch the cash.
That's why it's vital that every bank account is
reconciled with bank statements every month. With
Clients & Profits, it's easy and relatively
fast, since everything is reconciled online."
While you're at it, reconcile agings with the
balance sheet: "The totals from the A/P and A/R
agings must match the A/P and A/R control accounts
in the General Ledger--if not, use the Auditor tool
to find the data-entry errors and fix them."
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