As you enter information from transactions into your accounting software, you will need to check to be certain that it is accurate. It is much more difficult to find errors later. Here are some tips for making sure that the information you enter is accurate and complete.
- Reconcile Bank Statements
Your monthly bank statements and credit card statements should be reconciled immediately when they are received. If you find errors, follow up to be sure they are corrected. If an entry on your credit card is incorrect, call customer service. If you think your bank made an error, contact them.
- Review Credit Card Statements
Check credit card statements to be sure all charges were authorized. If you see questionable charges, call the number of the company that made the charge (usually on the statement). Follow up to be sure an incorrect charge is taken off your next statement.
