How to get rid of accounting chaos and take control of your money

Modern accounting of transactions on bank accounts, corporate cards and cash registers has become a real challenge for many enterprises. With the increase in the volume of transactions, managing financial flows requires not only attention to detail, but also significant time investment. After all, no one wants to find themselves in a situation where the coffee budget exceeds marketing expenses.

In conditions where every movement of funds must be accurately accounted for, companies are faced with the need to use advanced technologies and automate processes. Because only automation can guarantee that your finances will remain in order, even if the accountant decided to take a day off on Friday the 13th.

• Errors in data entry in the accounting system can have serious consequences for a business. Inaccurate reports make it difficult to manage cash and can lead to poor financial decisions.

For example, if a large transaction is accidentally duplicated, it can create the false impression that there are additional funds in the company's account. Suddenly, you get the feeling that the company can buy not one, but two new coffee machines. As a result, managers can decide on additional expenses or investments, not realizing that the company's actual financial position is much worse. Thus, even small errors in accounting data can lead to major financial problems and threaten the stability of the business. And no one wants to explain in a meeting why we got "economic focus" instead of profit.

• Consistency of transaction data from bank accounts, corporate cards and cash registers is critical for accurate financial accounting and ensuring transparency of financial transactions. When these data do not match, it can signal serious problems such as fraud, accounting errors or technical failures. Failure to quickly identify and resolve such discrepancies can result in significant financial losses and undermine the credibility of a company's financial statements.

For example, a corporate credit card transaction may show that $10,000 was spent on equipment, but the transaction is not reflected in the bank's records. It may appear that someone purchased a gold stapler for the office. This discrepancy may be a sign that an employee made an unauthorized expense or that the transaction was mistakenly not entered into the accounting system. Alternatively, if a transaction was entered twice in the cash register, it will create the illusion of excess funds. An idea to build a fountain in the office lobby may pop up. Both of these scenarios require immediate attention and correction to avoid financial losses and ensure accurate cash management. Otherwise, instead of an accounting department, we will have a gold stapler collectors' club.

• An accountant must ensure control over the movement of funds in all accounts and in the company's cash register. Insufficient control measures increase the likelihood of illegal actions, which can cause serious damage to the company or organization.

An example is the following case: in a small company, an accountant does not control the movement of funds, which allows the employee responsible for payments to transfer money to his personal account. Due to the lack of verification of statements and cash reports, the fraud goes unnoticed for several months. When the shortage is discovered, the company faces serious financial problems and the need for an expensive investigation. This case shows how insufficient control over funds can lead to significant losses and undermine confidence in the management of the organization.

• Accounting for transactions on bank accounts, corporate cards and cash registers must be carried out in accordance with legal requirements. Failure to comply with the law can lead to fines and other sanctions.

For example, in a large company, an accountant keeps accounting records of transactions on corporate cards and cash registers, but does not follow the latest changes in legislation. As a result, some corporate card transactions are not reflected in the reporting properly, as required by new regulations. During the next audit, tax authorities discover that the company has violated the accounting and reporting rules, which leads to the imposition of large fines and sanctions. In addition to financial losses, the company has to spend significant resources to correct errors and bring accounting into compliance with the law.

1. Direct integration with the bank - Smartup can automatically import bank statements, corporate card transactions and cash transaction data. Currently, this function can be used with Kapital bank.

2. Working in several currencies - Smartup provides the ability to perform transactions in several currencies. The system also offers a currency revaluation function that automatically adapts and updates exchange rates, ensuring accuracy and reliability in each transaction.

3. Smartup registers changes in any document. Based on this data, it generates a Journal of all transactions on changes.

4. Automatic creation and signing of outgoing invoices for goods accepted by the client.

5. All documents in Smartup create accounting entries when saved - this allows you to maintain management and accounting records.

6. Report generation - the system provides the ability to generate various reports on cash flow, on expenses by items, allows you to generate them in various formats, provide them in electronic format or print them out.

7. Integration with other systems – the system is integrated with SAP, CISLINK, SALESWORK, Spot 2D, DMS, Power BI, Alick BI, Asl belgisi, Facrtura.uz, ARCA, E-imzo, Verifix, Yandex, Uzum – this allows you to automate end-to-end business processes.