Post by MS INYOFU (@theconscience)
HINT: Always perform a week-end review of your records.
Explanation: Before a new week begins, review transactions recorded during the week to confirm that sales, expenses, and bank entries are complete and accurate.
Example:
Total sales recorded N350,000
Bank deposits N340,000
Difference N10,000 — investigate immediately.
Scenario: Many accountants discover errors weeks later because records were never reviewed.
Question: Do you review your accounting records at the end of each week?
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Nneka Onyekwere: Very important for any good accounting process.
Failure to do so creates discrepancies during month end reconciliation and hence delays preparation of report
Good accounting system is all about accuracy and timeliness of reports in order to aid management decision making.👌
Failure to do so creates discrepancies during month end reconciliation and hence delays preparation of report
Good accounting system is all about accuracy and timeliness of reports in order to aid management decision making.👌