As bookkeepers, we love to reconcile! We love to find ways to ensure that we have captured everything accurately. One of our clients is a law firm. They accept retainers that must be held in a separate trust account (IOLTA). They maintain many entries in their billing system, but we check their work regularly. Why?...
Data entry is great, but reconciliation is the test! Our newest team member, Karen, has been working hard to onboard a new client. They have very complicated Accounts Receivables that a third-party vendor processes. The client’s previous bookkeeper focused on entering the data but didn’t “have time” to ensure that data was accurate and reconciled...
As part of our work at ZümiFi, our clients’ recurring payments and expenses. While many of these are legitimate, some may be fraud or raise a red flag. Occasionally, a vendor will make a mistake and charge your card more than once. Other times, it can be more serious. Last month, a vendor billed one...
Weekly updates not only keep your numbers up to date but can help identify when something is not correct. We have a client working with their account manager, Michelle, for a few years. Michelle knows their account very well and recently noticed when a deposit was made to the wrong account. She brought this to...