Question

Why is it important for public relations and financial reasons to be sure all entries are posted to monthly statements correctly?

Answer 1

Because at the end of the year when full statements come out, you want to make sure all of the amounts match and to avoid discrepancies!

Answer 2

Posting all entries to monthly statements correctly is very essential as it leads to the preparation of accurate financial picture of the last years for help in making the necessary decisions.

Correct statement entries posting is important to make sure that all financial amounts match and there would be no discrepancies in the future.  It helps in several ways:

• prevent costly mistakes.
• prepare correct details for taxation.
• significant information about a company's financial health.
• make informed decisions.
• the monitoring process of the management.

This requires documented, and incorporated processes and procedures to regulate internal controls.

Learn more about financial statements:

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