Data entry can be challenging and time-consuming, but with a little advanced knowledge, you can get the job done a lot quicker.  Bookkeeping is the art of telling the story using numbers. So lets make the story telling nice and quick so that you can get onto other things in your day.

Here are expert data entry tips that will make you more efficient when entering business details.

Using rules to make data entry quicker and easier setup rules from the bank feeds

You can set up rules from bank feeds to make data entry quicker and easier. These rules help you automatically fill in fields on your form with information from the bank feed, like date, amount and who the payment was for.  

For example, you can set up a rule that says every time you pay bank fees or transaction fees to your bank, it can be coded automatically, without you having to type anything in.

Use “contains” rather than “exact” wording in your rules.

The words you set up here will go onto every transaction you import into your account. For example, if you want to track every transaction that contains the word “credit” in it, use the phrase “contains” rather than “exact.”

Let's use paying for fuel as an example.  You might use BP as your main fuel station.  When you travel around, you might use different BP stations in different suburbs, which are noted on your bank statement.  You can set up a rule saying that if the bank statement contains the word BP then it can be coded to fuel.   

This will ensure that any transaction that contains the word “BP” anywhere on it is included as fuel, regardless of the suburb you purchased it from.

Use the company names for the bills

Use the rule Telstra = telephone, so you know which account is being coded to & can easily identify if it needs editing. When you use the company names, it will also be easier to search later on when you want to know more.

If it doesn't work

Check the rule when you get bank in bank feeds – if it didn’t work you may need to tweak it.
Sometimes the supplier will change their statement text, you can edit the rule to make it easier to find next time.  (sometimes this will be changing from exact to contains)

Want to know more about data entry for business tips? Join our bookkeeper training to learn more. This is a great way to keep on top of your business’ data and make sure you’re always recording the right information.

Register here:https://app.acuityscheduling.com/schedule.php?owner=18230665&appointmentType=36056488