Question

It is important to record accounting transactions in a timely manner so that you can close out your books properly at the end of a quarter. Identify and discuss the factors that lead to a user failing to record transactions in a timely manner in accounting systems like

Answer 1

Factors which lead to ta a user failing to record transaction in a timely manner in accounting system.

1) using the wrong Accounting system:

Some time it is conceivable that product doesn't have right highlights sets for you need . You are putting yourself in danger on the off chance that you are utilizing a product .

2)Not looking at the business report:-

In the event that you don't know about your each stream reports, accounts receivables , record's payable, monetary record and salary explanation , you will have no clue about what you can spend your development potential . You won't have any thought regarding the passing of a major customer.

3) Not recording cash expenses:-

In this day and age we are advanced to such an extent that at some point it's hard to recollect each installment subtleties.

There costs are essential to record else it will prompt overwhelming overpaying in tens.

4)Lesser number of bookkeepers in a substance which overburdens the individual staff.

5 )Deferral in accepting solicitations from sellers,

A reckless bookkeeping staff.

6)Complex administration arrangements with respect to bookkeeping.

• Technical glitches like server breakdown, bookkeeping programming smashed.

• Increased truancy of the bookkeeping staff.

• Lack of gifted bookkeeping proficient in the element.

• No power to screen bookkeeping capacities.