Manual Journal Entries Increase Cost and Errors

Organizations use journal entries to provide a record of every business transaction in their accounting books. While automated entries are typically imported from an internal or external source to automatically create a journal entry, a manual journal entry is one that requires a finance professional to identify a transaction, analyze that transaction, and then make an entry into the company’s books. After breaking down cross-industry data on the percentage of journal entry line items that are entered manually, APQC explains why organizations should work to avoid manual entries as much as possible in favor of automation.