Is it Time for a Systems Audit?

March is the perfect month for a quick financial check-in. By now, the new year rush has slowed, and tax season hasn’t yet reached full swing. It’s the ideal time to take a step back and ask: Are my bookkeeping systems working for me, or against me?

A systems audit doesn’t have to be complicated. In fact, you can start with just three areas.

1. Bank Feeds

Are your bank feeds connected properly in QuickBooks Online? Missing or disconnected bank/credit card accounts can lead you to a clean-up later. QBO should be sending the owner of the account an email when a disconnect occurs (often your accountant won’t know until they go in to do work, causing rushed communication to get it reconnected).

Pro Tip: Check your connection status for each account in QuickBooks Online and make sure all feeds are updating automatically.

2. Automations

Bank rules and recurring transactions are time-savers, but only if they’re set up right. Review your Rules in QBO for accuracy. Recurring amounts can change, causing the Rule to not work (which will increase your time spent in the Banking Center).

Pro Tip: QBO will often make suggestions on how to categorize, however we find many suggestions to be inaccurate. Verifying the transaction for accuracy before it is accepted is the key to avoiding a clean-up.

3. Reporting Setup

Do your standard reports give you the insights you need? Or do you spend time exporting data to spreadsheets and reorganizing it?

Pro Tip: Customize your QBO reports to show the KPIs you care about most, like program profitability or expense trends.

Next Steps: Ready for a deeper review? Book a Discovery call today!