Benefits of Good Record Keeping

budgetAs the budget prep process begins for some of you for next year, we can reflect on our budget prep successes, as well as opportunities for improvements in 2013.  Because the devil is so often in the details, maybe you’ve added “better recordkeeping” to your list of personal goals.

Black Mountain Software (BMS) has an assortment of features that can help make your payables and receivables organized, searchable, and documented.   Why is this important? Because keeping a good record of receipts, invoices, bills, checks, and cash transactions can help you cross-reference payables and receivables against your budget, as well as help plan future budget activities.

Other benefits to good record-keeping include:

  1. True picture of debits, credits, and budget to actual at a glance.
  2. Anticipation of annual costs and average budget expenditures.
  3. Predictor of how market, societal, and environmental conditions have historically affected your budget and payables.
  4. Better decision-making on future expenditures.
  5. Reduction in time spent requesting copies of lost payables and receivables.
  6. More organized approach to finding and adopting budget-cutting measures.
  7. Ability to cross-reference statements against your general ledger for accuracy.
  8. Confidence in bookkeeping in case of an audit.
  9. Reduction in file space.
  10. Higher internal and customer confidence in recordkeeping and the ability to prove that your city, school, municipality, or company is reliable and dependable.
  11. Ability to look up contracts with suppliers, contractors, or vendors in an instant.
  12. Transparent compliance with federal  and state regulations, guidelines, accounting practices, and policies.

Best wishes for good budget preparations as we move closer to the second half of 2012.  If you are interested in learning more about how Black Mountain Software can help you with budget and record-keeping, check out this video testimonial from one of our customers.

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