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All the time it takes to track your transactions isn’t worth it if you don’t periodically test to be sure you’ve entered those transactions accurately. If the numbers you put into your bookkeeping system are garbage, the reports you develop from those numbers will be garbage as well.

Proving out your cash

The first step in testing out your books includes proving that your cash transactions are accurately recorded. This process involves checking a number of different transactions and elements, including the cash taken in on a daily basis by your cashiers and the accuracy of your checking account. Book IV Chapter 3 covers all the steps necessary to take to prove out your cash.

Testing your balance

After you prove out your cash, you can check that you’ve recorded everything else in your books just as precisely. Review the accounts for any glaring errors and then test whether or not they’re in balance by doing a trial balance. You can find out more about trial balances in Book IV Chapter 5.

Doing bookkeeping corrections

You may not find your books in balance the first time you do a trial balance, but don’t worry. It’s rare to find your books in balance on the first try. Book IV Chapter 6 explains common adjustments that may be needed as you prove out your books at the end of an accounting period. It also explains how to make the necessary corrections.