OAKDALE, N.Y. - January 2, 2018 - (Newswire.com)
Working as a CPA for many medical practices and other licensed health businesses, Bonnie Cappello had fixed many mistakes made by these companies before her guidance took over. Throughout her years in billing, coding, and the accounts receivable sector of the company's financials, Cappello has been able to notice a familiar trend in these mistakes.
"Many of these mistakes can be fixed right away if caught in time," explains Cappello. "Sometimes it can be a manual error entered into a computer, or having the wrong number in a spot. If these mistakes do not become caught in time, they can lead to serious problems for the finances of the company."
Cappello adds that these mistakes can also be smart advisements from her experiences.
Error 1: Working On Unsecured Wi-Fi Network
The joy of working on computers via today's technology is the ability to work anywhere that has internet. While this can be an efficient way to work, it can lead to severe problems with the security of the information on that computer.
"If a worker goes to the local coffee shop to use the internet while working with sensitive company information, they are at risk," says Cappello. "The worker is inputting and accessing sensitive information on a public network opens up the computer to potential hackers."
Once hackers have access to the computer, they can download all the information on the computer. If they have this info, severe problems can happen in the future.
"I advise all workers to complete financial information on a secure network," says Cappello. "If you cannot work on a secure, private network, do not use another network. Wait until you can use a secure network."
Error 2: Saving financial files to a personal device
"The reasons for this happening could be an employee planning to leave the company and potentially use this information against the company," says Cappello. "There should never be an opportunity for a person to save information on a personal device. All work should become complete on the company's equipment."
Cappello adds that all files about company information should not become copied or duplicated onto a personal device. This rule allows all data to stay on company devices at all times.
Error 3: Manually inputting incorrect information into system
While this error can be just an honest mistake, it does happen more times than not. A slip of the keyboard or hitting the wrong button can lead to severe consequences at a later date.
"I always advise employees to work in a quiet setting," states Cappello. "A quiet setting allows minimal distractions while working with company data. While this won't eliminate mistakes, it will help for someone to catch an error quickly."
Also, Cappello lets workers know that if they are working on financial information, they need to not multitask during this time.
"Recent studies show that workers who are working on multiple assignments tend to make more mistakes," adds Cappello. "A worker assigned to important financial data needs to work on one task at a time."
Furthermore, Cappello says having another employee crosscheck the work can lead to fewer mistakes made. Having two sets of eyes on the same information will save headaches down the road.
"The best financial workers in coding and billing can miss something," says Cappello. "Allowing a second or third pair of eyes to run over the numbers can be beneficial for the company."
In conclusion, Cappello stresses the fact that many mistakes did not make a list. All errors when working with financial data can be resolved or caught quickly.
"The bottom line is to set a worker in a setting where they can succeed and become smart about how they work with these numbers," says Cappello.
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Original Source: Bonnie Cappello Explains Which Errors Financial Departments Make the Most During Her Long CPA Career