There are many methods for reducing input errors in your online accounting file. Accountants use workflow processes that they know will create more predictable accuracy. Learning about some of these and adopting them in your accounting routine is a good investment in time that will reward you for many years to come. Some of these methods are discussed below, however there are many more:
Basic review of your transaction listings
As you create transactions they will appear in your transaction list for the date period applicable. The process is usually to Add a new transaction to the List, Save and Close the transaction and then check the transaction for correctness. You cannot check all the detail for transaction but the main items such as Date, Amount and Contact can be verified. This is the most basic and quickest, but least thorough, of checks you can do.
Review of your Transactions by Account report
This is a good report for checking you have used correct tax codes and ensuring you have chosen the correct Account for you transactions. You might scan the report to ensure that (for example) all your sales appearing in an Account for Income: light fittings would have the same tax code. You might also check that there aren’t any stray transactions in this Account that shouldn’t be there.
Use the duplicate function for adding transactions
When you use the Duplicate button on any Add/Edit Transaction screen you are creating an exact copy of the transaction you are viewing with a few fields cleared like the Date for example. This helps produce consistency in your transaction adding over time as you will be using the same Account, Tax Codes and Summary as you are duplicating the information not entering it.
Use Transactions Lists to help in adding transactions
A good example of this is when you have regular periodical payments you make for things such as subscriptions, rent, bank fees that are often the same each month except for the transaction date.
- Load the Transactions for a Contact and click the plus icon next to the transaction to load a duplicate.
- Then you can include the date for this new transaction and amend any other differences (eg. Summary..”Jul08 rent” to “Aug08 Rent”) and then save the transaction.
Use the Transaction Lists to help in adding transactions
As in the above example you can create a list of transaction for the previous month (or period). Use the same process to create new transactions for the new month (or period).
Additional
Make sure you have paperwork, invoices, and bank statements to back up you data entry. Just assuming these things will happen each month (or period) doesn’t mean they actually do!