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How to Set up Your Business' Accounting Processes to Run Smoothly

When you're trying to get other departments to follow along with what you need for your accounting purposes, nothing makes the process go as easily as setting up business accounts to allow for a smooth accounting process. But how do you set up accounting processes in a way that they will run smoothly and efficiently in your company?

Here are a few tips to help get you started.

Consider the entire process. What steps are integral parts of your accounting cycle? Though you know exactly what they are, you need to consider how all the parts fit together to push the entire works into a smooth accounting process overall for your company. Look at the slow spots and form a plan of action to improve them.

  • Consider the process from other departments' perspectives. Though balancing figures and printing invoices is an everyday occurrence for your part of the operation, it may be a confusing additional workload for sales or marketing. Consider how to make things go more smoothly for departments that are not focused on accounting.

  • Look at other departments' workflows. Make your part of their workflow integrate more completely with the rest of their work. If it's easiest for sales reps to submit quotes to the accounting department at the same time as customers so those quotes can be quickly entered into the system, make it part of the process.

  • See what can be taken over. If there are aspects of your accounting cycle that simply won't happen without assistance from the accounting department, consider what you need to do to make that a part of your daily or weekly operations, such as a clerk designated to collect all invoices from service technicians on Monday morning.

By thinking through your accounting processes when setting up business accounts, you can ensure that you'll end up with a smooth accounting process that allows your company to run efficiently without a lot of extra work involved in trying to hunt down missing payments, invoices, receipts and similar documentation. But what if you're not quite sure how to set up the process? The accounting professionals at AccountRely can help. Contact us today and discover why when you're with AccountRely, you're family.

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