Routine Accounting task that might be overlooked

Daily Accounting Task

• Keep your accounting software updated and refreshed. Your organization does not want to enter any discrepancies with regards transactions

• It is necessary to reconcile all cash and receipts at the end of each business day. Running this test reveal any cash shortages or overages,

• Review and reconcile transactions immediately rather than waiting until your month's end statement. Also, check to ensure your bank feed is being synced daily.

• It is important to record and categorize all expenses daily. Often owners will allow receipts to accumulate; however, in order to make the best decisions regard the business it is essential to know the business financial health.