Month End Accounting Procedures Causing Trouble for Your Business?
Errors in accounting processes have a cumulative effect. A mistake early in the year that’s not caught during month end accounting procedures will roll over from one month to the next, ultimately resulting in difficulties balancing the books and filing taxes at the end of the quarter or the year.
Do you have a system of month end accounting procedures designed to catch bookkeeping errors before they become a problem? One of the best ways to catch mistakes is to have a second set of eyes reviewing your bookkeeper’s work. Having someone else review your books each month:
- Helps prevent theft and corporate fraud, since the bookkeeper knows she’s not the only set of eyes on the books
- Catches innocent mistakes of figures being entered incorrectly or entered in the wrong places
- Helps ensure your month end accounting procedures follow GAAP accounting best practices
Do You Need Financial Controllership Services?
The problem is that many medium-sized businesses can’t afford the services of a CFO or financial controller to review the books each month, especially if they don’t need a controllership services every day.
Your virtual accounting department at AccountingDepartment.com includes a financial controller to perform an audit each month and review the work of your full-charge bookkeeper. Our services are so much more affordable than hiring an in-house bookkeeper; you can afford a software specialist, controller and full-charge bookkeeper for less than the price you’re paying now for the salary, benefits, and overhead of a full-time, in-house bookkeeper.