We love technology. We love automation! Automation is becoming a bigger and bigger component of bookkeeping and software like QuickBooks Online. We appreciate that AI can be a huge time saver, especially for routine processes and codings. But you know what? Automation isn’t perfect. And automation currently makes mistakes.
So how do we leverage the benefits of the automation available, like in QBO, but still make sure that the books are accurate?
We reconcile! Some of you may wonder – why bother? If the bank feeds in QBO are bringing in all my activity, why should we bother formally reconciling the accounts? We reconcile because the bank feed automation does NOT guarantee that there are no duplicates. They also are not a real guarantee that something didn’t get missed. For example, you may think you have duplication and “exclude” a transaction you shouldn’t have. You can also have entries that don’t match but should.
So while we are HUGE fans of the automation and rules available in the bank feeds in QBO, we still reconcile—every month. And when we reconcile, we look. We think. We notice if items are not clearing your account and ask why. We notice if there are potential duplicates that exist and dig further. Automation has changed how we invest our bookkeeping time and energy, so we spend fewer resources on data entry and more on verifying that things are accurate. So automation is a blessing to us, getting us closer and more efficient in delivering our sole goal – clean books for your business!
Automation is great, but there is still a very important role for bookkeepers to play to ensure that the automation is behaving properly. Of course, that human component will continue to shift and change as automation improves, but Zumifi will remain your smart verification system! Heck – maybe QBO will even ask us to assist with improving their tools, as we have some custom reports we run regularly that help us monitor the automation quickly and efficiently on our accounts.
Zumifi- reconciling to make sure the books are clean!