When checking figures, it is very easy to assume that everything is correct, once the figures balance. But sometimes this assumption can lead to serious errors. If something is left out of both sides of your figures, they may still balance, even though they are wrong.

I recently checked payments we received from a large client. In one column I wrote down everything we were owed, and in the second column I listed all the payments we had received, from the client. The figures balanced and I closed the file content that all was in order.

A little later, one of my colleagues mentioned a payment we were owed from the client. I went back to check my figures and realized the client hadnít paid for this. But my figures balanced because I hadnít included it in the column of what was owed. The figures balanced, but a helpful observation from my colleague, avoided a mistake that would have cost the company a lot of money.

Keywords: Figures that Balance,payments , client,file content , colleague,mistake , company ,money,business news, business discussion