XBert Type: Standard
Accounting Software: Xero, MYOB, QuickBooks Online
Country Restriction: All supported countries
Risk Type: Data Quality Risk
Business Function: Banking
Overview
The "Accounting system getting lonely" XBert checks whether your accounting file has had any recent activity. When a connected ledger records nothing new for seven days in a row, this XBert gives you a gentle nudge. It matters because business decisions are only as good as the data behind them, and a quiet ledger usually means transactions are sitting unentered or unreconciled.
What it does
XBert looks across the main day-to-day transaction areas of your accounting system and checks the dates of the most recent entries. It reviews activity in:
Sales invoices
Supplier bills
Payments, prepayments and overpayments
Bank transactions
Credit notes
If nothing across any of these areas is dated within the last seven days, the file is considered to have gone quiet.
How it works
This XBert counts the transactions dated in the last seven days across your sales invoices, supplier bills, payments, prepayments, overpayments, bank transactions and credit notes. If none of these areas has a single entry dated within that seven-day window, the XBert raises an alert to let you know your file has gone quiet.
Example/Use Case
Sarah runs a small landscaping business and her bookkeeper, Dan, looks after the data entry each week. Dan went on holiday and nobody picked up the work, so for nine days no invoices, bills or bank transactions were recorded. During that time Sarah approved a new job for Macks Earthworks, not realising an earlier $5,000 bill from them was still unpaid. Normally she would have asked for payment of the old bill before extending more credit. The "Accounting system getting lonely" XBert flagged the silence, Dan caught up on the entries when he returned, and Sarah could see the outstanding balance before taking on more risk.
Accounting software
This XBert runs on the major connected accounting platforms, including Xero, MYOB and QuickBooks Online.
Which countries it supports
This XBert is available in all supported countries.
Processes
This XBert sits within your Record Management and Banking processes and is aimed at keeping your books up to date. To resolve it:
Log into your accounting system and enter any outstanding invoices, bills, payments and credit notes that have built up.
Reconcile your bank accounts so recent transactions are matched and recorded.
If a bookkeeper or staff member looks after your data entry, check in with them to confirm the books are being kept current, especially around holidays or busy periods.
If the quiet period was expected (for example, a genuine break in trading), no action is needed beyond confirming nothing has been missed.
Once your records are up to date, mark the XBert as resolved.