Keep it clean folks | How to avoid the headache of bookkeeping mistakes and duplicate contacts

by XBert Team ~ 3 min read

XBert is a cloud accounting add-on that detects bookkeeping mistakes and anomalies in your data then helps you to resolve these risks.

Do you or your clients have dirty data - multiple contact records for each customer or supplier? Are your invoices not paid because you're sending them to an old or inactive address, so nobody's actually receiving them? How can you make the right business decisions if your data isn't reflecting the real picture?

Wow, all these questions. XBert could be the answer.

XBert detects bookkeeping mistakes and anomalies, so you can be confident in your data and financial reporting.

Where the bloody hell are ya? No really

Consider the following scenario. You've finally finished a job that's been ongoing for months and has stretched your cash flow the to limit. You send the invoice and expect to be paid immediately.

But, after two weeks, the bank account balance hasn't had the expected boost. Your expenses are piling up. You need that invoice paid, and paid now.

You call to follow up and get told they never received the invoice. Yeah right, that old chestnut!

Angrily, you send it again and state that it requires urgent payment. Another week passes yet still no payment.

After more cranky and stressed phone calls, you dig a bit deeper because your client is adamant the invoices haven't come through.

Oh, you are kidding me!

You've raised the invoice on a duplicate contact record. This contact is over six years old and all the details are wrong. The invoices went to an old address.

All that stress because your client records weren't clean and up-to-date.

It's not unsual to have duplicate contacts in your accounting system, especially if you're dealing with numerous suppliers and customers, or have different people managing the books.

Does it matter if you have contacts entered multiple times?

Invoices may get sent to old addresses and impact your cash flow. It may undermine your business reputation and relationships. Your reports are out and become a major headache. It's difficult to determine how much you've spent or earned with that contact.

How can you get an accurate picture of the value of that partnership if your transactions are spread across different contact records?

So, yes it does matter.

If you, or your bookkeeper, enter contact details right the first time, you'll save a hell of a lot of time and stress. Keeping new contacts unique and merging any duplicate contacts makes it easy to find the information you need - fast.

Are typos giving you a false picture?

Making even the smallest typo in a company name like incorrectly spelling the name, or using a different abbreviation, e.g. using Pty Ltd instead of P/L, or Ltd instead Ltd(.), can result in contacts getting duplicated.

Whoever enters your transactions might create a new contact because they can't find the existing record. If you've had multiple bookkeepers or finance people over the years, your contact list may have many multiples.

You should only have a single contact record for each client or supplier you deal with. Having multiple contact records means your data is dirty and can't be trusted. You'll need to manually make adjustments to evaluate your business status. Not only is this a waste of time but it leaves you open to human error.

Duplicate contacts make reporting a time-consuming and possibly inaccurate process if your business or your client's business deals with many suppliers and clients.

You want clean data so that your reports are accurate; this is important for business owners to make the right business decisions, and for bookkeepers and accountants to provide the right advice and meaningul value for their clients.

Finally, there's a simple way to ensure your accounting system contacts are unique.

XBert in action

XBert alerts you to possible duplicate contacts in your accounting system.

XBert BookkeepingRisk DuplicateContact

You can quickly check if the contact records are associated with the same business are the same. If they are, merge the two contacts. The new merged contact will then become the single contact for this business.

Peace of mind and know the details are right

Well-kept records provide the best insights.

Save valuable time by adding contacts correctly the first time, and having only one record.

A duplicate contact is just one of the many risks XBert will find reviewing your accounting data on an hourly basis. Using sophisticated algorithms, predictive analytics, and machine learning, XBert is there to detect business risks, saving you time and money.

If you're serious about business success, sync your accounting data with XBert, and in just a few minutes, you'll discover the amount of money at risk and how to prevent losing it. Book a demo or start your FREE 14-day trial now!

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