Do You Make These Simple Mistakes in Accounting Software?

Accounting software has created many comforts for smaller or larger business entities. Although the latest technology of accounting software with pay roll has eliminated the chances of mistakes to minimal level yet human is to err. Accountants or entrepreneurs make many mistakes and errors while using accounting software in Cambodia. There are three common mistakes given below that people usually do for accounting software in Phnom-Penh-Siem-Reap-Battambang-Preah-Sihanouk-Serei-Saophoan-Pursat-Samraong-Stung-Saen-Chbar-Mon-Doun-Kaev:

  • Hasty data entry often results in errors

When you do not complete your data entries in time, there may be bulks of errors in your accounting data. Wrong data entry is a very sensitive matter when talking about business accounts. It may put you in a troublesome situation when the input and output of your data do not match correctly.

How can a person do mistakes in entering data? Two basic factors may lead to these mistakes:

  1.  When you do not specify any time for entering data and find yourself all the time engaged in other official business activities.
  2. When you do not review your entries, there is a great margin to do mistakes.
  3. Usually, the reporting procedures are ignored

Reports play a vital role in observing the growth, management, and efficiency of the business. You can have daily, monthly or annual transaction reports as well as miscellaneous reports of expenditures and income. While using accounting software in Cambodia, people usually consider that reports can be generated any time, in this lieu no soft or hard copy of business reports is saved.  

No reports mean no documentation of your business accounting matters. Various accounting software are categorized with features where too old data gets deleted. Thus, if you will not save reports from the software in time, you may lose important information of your business matters.

  • You do not keep a record of all procedures and documentation

 Although the electronic system has made us at ease but the manual records are also essential for dealing business matters with other parties. All deals with other parties and contractors should have some written records. Accounting software in Cambodia does not mean that entering a few digits is enough for secure dealings.

Additionally, do not keep your office like a shoebox; throwing receipts of transactions and invoices in a file is useless. Arrange all transaction receipts day-to-day and categorize all receipts separately.

When you do not follow any schedule and arrangement, it may cause trouble for you during accounting audits and you may stand answerless on many questions and doubts in data entry.

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