Photo credit: Patient Care Technician
A fully-documented Client Procedures Manual is one of the benefits you’ll receive from outsourcing your bookkeeping and accounting services to Consultance Accounting.
From our many experiences with onboarding small and medium-sized organizations, we understand documenting how things are done behind the scenes takes a back seat to the more pressing items, such as obtaining funding and growing and serving your members, customer and other stakeholders. Initially, most new clients do not have clearly articulated accounting procedures and policies.
As you grow, it’s important to clearly document your core back office processes. This is especially true if you currently rely on one person to do most of this work. Without such information, things can easily slip through the cracks if that person is unable to do the work due to unplanned events.
Five Key Benefits to having a Policies and Procedures Manual:
- Structure and Accountability – It’s easier for things to work successfully when the rules are clear and they’re easy to find. An up-to-date, central location for your policies and procedures facilitates smoother operations by promoting clear and consistent expectations.
- Internal Controls – Give your stakeholders the peace of mind that you’ve addressed one of the basic building blocks in a strong internal control system: having policies and procedures that are designed to provide reasonable assurance of the achievement of business objectives.
- Business Continuity – having written policies and procedures allows you to efficiently cross-train staff and allows you to scale up more effectively as you grow.
- Increased Efficiency –When there’s a clear understanding of who does what, you’ll avoid duplication of efforts among individuals and minimize micro-management.
- Continuous Improvement – In our fast-paced environment, businesses must regularly assess and improve their operations. Formal policies and procedures facilitate this process by providing the basis for assessing your current state, so that you can move on to envisioning your desired future state.
The Path Toward Better Accounting Operations
As part of Consultance Accounting’s onboarding process, we analyze each new client’s current operations and assess its needs, to identify and implement the most effective and efficient workflows for core processes. Core accounting processes cover, but are not limited to: Accounts Payable (i.e., processing all bills and payments), Accounts Receivable (i.e., processing all invoices and receipts), Payroll and the monthly Closing Process, which culminates in the issuance of meaningful financial reports. Once we’ve reengineered a client’s business processes and optimized the design of their accounting system, we create a formal Client Procedures Manual. The following provides a high-level overview:
Our client procedures manuals allow us to provide exceptional client service by facilitating a thorough and consistent approach based on strong internal controls to protect the organization’s resources and ensure accurate and timely financial statements. Contact Us if you’d like us a Demo.
Consultance leverages exceptional talent, proven processes, and top technology platforms to deliver timely & accurate financial solutions that help small and medium-sized organizations improve productivity, increase profitability, and achieve their goals.
If you have any questions, feel free to contact us here.
