Results of working outside the system. How much are you actually wasting?
Inefficiency
There is no time to process day-to-day accounting transactions when you are working outside of the system.
Lack of Financial Information
Though much of the transactional data might be in the software it has not been pulled together because that is how the software is being used. Reporting is being done in Excel so there is no timeliness, visibility or drill-down capability, and the nature of the reports are very limited.
Every Man For Themselves
Each employee is working with his or her own silo of information that he or she has exported, manipulated, and saved to his or her hard drive. There is no consistency in the numbers, and there are hundreds of spreadsheets located on hard drives, networks, and flash drives that are difficult to index.
Errors
Excel is NOT error-proof, and so many of these spreadsheets become overly complicated with users that are not overly sophisticated. Links get broken, formulas don’t make sense, and data is not updated as it should be.
Stacks and Stacks of PAPER
Because processes are not being followed in the system, accountants have this built-in need to generate their own audit trail of everything that is being done — files, binders, reports — you name it! It’s NOT necessary — not in today’s digital age.
The Result Of Working Outside Of The System
If your accounting system is guilty of any of these, it may be time to consider outsourcing your accounting function. For a complimentary accounting review, visit our website at www.WVCrubixcloud.com