It’s never too early to gear up for your end-of-year close. With that said, cleaning your data should be a top priority in your end-of-year plan. Taking the time for data management will not only pay off going forward but, it will support efficiency, compliance disputes, and customer satisfaction.
**Data management or data cleansing is the process of removing incorrect or outdated information.
Your business has collected a considerable amount of data throughout the year. This includes:
Communication records, sales data, costumer records, and human resource records really add-up throughout the year. During your end-of-year closing, you should ensure that this information is accurate, secure, and organized. A yearly data management plan will provide your team members with the most current information available – no more searching through outdated documents to find the information they need. Additionally, some of your data may be duplicated in records held by different departments. Cleaning it ensures that the data is accurate and consistent throughout your business. Consistency makes preparing your year-end documents for tax preparation a quicker and easier process.
Data cleansing plans fluctuate depending upon the type and size of your business. You may be cleaning data from one database or multiple ones. Here are some tips to help with your data management plan:
Remember, it’s never too early to prepare your end-of-year closing plan. Taking the time for data management will not only pay off going forward but, it will support efficiency, compliance disputes, and customer satisfaction.
If you have any questions regarding your end-of-year closing plan, contact the ACC team! With over 25+ years of experience, the ACC Software Solutions team will guide your business in the right direction.
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