These days, even smaller businesses will process many transactions in a day, winding up in your bookkeeping system. The more transactions there are, the greater the chance for human error if you’re using an in-house accounting team, which is why many outsource their accounting clean up and bookkeeping services to Quickbooks ProAdvisors like Accountants 2.0.

However, we wanted to shed some light on how performing an accounting clean up job and closing your books on a monthly basis is accomplished!

What is the Accounting Clean Up Process?

Many accounting clean up and bookkeeping services follow a step-by-step procedure to ensure your accounts are in order. These steps include:

  • Accounts Receivable Oversight: By employing innovative software and cloud technology, you can keep your books up to date and automatically track transactions. This also means you can have a report of your company’s financial status whenever you need it.
  • Accounts Payable Oversight: You also need to keep track of what your company is paying for each month and make certain that all of your vendor statements are paid on time to reduce late fees. Again, implementing software or cloud services can make things much easier on your accounting team by automating this process.
  • Monitoring Fixed Assets: Some assets with your business are fixed, like your property and equipment. However, it’s important to monitor these things each month as well to take note of any depreciation in value.

What Are the Foremost Benefits of Monthly Accounting Clean Up?

If you’re wondering what the primary benefits of accounting clean up are, the first and foremost one is that doing so will save you money, as well as:

  • Enable Effective Decision-Making: When your accounting books are up to date, you’ll have all the financial information you need at your fingertips to make decisions for the future. An effective account clean up takes everything into consideration including your company’s accounts payable and accounts receivable finances, and more.
  • No Rushing: Rushing to close your accounts and bookkeeping solutions at the end of the month is never a good idea, especially during tax season. It’s easy to make mistakes when you’re in a rush, which is why staying on top of your accounting solutions 24/7 is key.
  • Real-Time Data: When your books and accounts are up to date, you’ll have real-time data, making financial forecasting easier. It also enables you to catch any minor or major issues before they have the chance to grow out of control.

Contact our Quickbooks ProAdvisors today for accounting clean up & more!

If you want to keep your accounts clean and easy to reconcile each month, contact Accountants 2.0 online today or call (888) 857 5750  (Toll-Free).