What are the accounting routines?

 


A company's accounting department is made up of a series of important routines related to assets, financial transactions, the correct payment of taxes and compliance with all tax rules provided for by law.

Among the main accounting routines, we can mention:

  • the financial analyzes of the business model;
  • carrying out balance sheets;
  • the income statement;
  • cash flow control;
  • the assessment of profit and loss.

In addition, the following are also part of the accounting routines:

  • the calculation of taxes;
  • sending mandatory declarations;
  • bookkeeping;
  • monitoring the execution of the company's economic-financial plan;
  • the analysis of the economic viability of certain projects.

Yes, there are many tasks that need to be organized, defined responsible, deadlines and resources to execute them, that can be done, following an accounting routine can be of great help for your business.

Why is keeping track of accounting routines important?

For a company to prosper and remain competitive in the market, control of accounting routines is essential.

When this type of control is carried out, business productivity increases. When there is organization in the accounting sector, decisions are taken more quickly and assertively.

In addition, controlling accounting routines helps speed up internal processes, optimizing the time dedicated to certain repetitive tasks. In this way, employees can dedicate more time to other, more strategic tasks for the business.

Without proper control, deadlines and information can be lost and potentially lead to non-compliance with legislation, which can generate fines capable of compromising the profitability of the business.

5 tips on how to organize accounting routines

Keeping the accounting department and its respective assignments under control is a challenging task.

Now that you know what accounting routines are and the importance of keeping them under control, here are 5 tips on how to organize accounting routines.

1 – Divide accounting tasks

The first tip to promote an efficient control of accounting routines is to divide the tasks that involve this important sector of a company.

With each employee being responsible for specific tasks, work overload is avoided. This division also facilitates the monitoring of employee performance and increases productivity.

2 – Dispose of documents you no longer need

The organization of accounting also goes through the review and disposal of documents that no longer need storage and that are just taking up space.

Therefore, separate the paperwork that is no longer useful for your company, such as invoices and bills older than five years.

3 – Make use of a collaborative calendar

The accounting industry deals a lot with deadlines. With that in mind, to avoid missing important dates for sending declarations or paying taxes, make use of a collaborative calendar.

The goal is for everyone to be able to view important industry commitments and make changes collaboratively and transparently.

4 – Implement a methodology for organizing daily tasks

To improve the organization and productivity of accounting routines, try to implement a management methodology that has this focus.

Kanban , for example, is a method that allows the team to visualize on a panel which tasks are “ to do”, “in progress” and “completed”.

5 – Count on the help of accounting tools

Technology can be a great ally in controlling your company's accounting routines.

Through good management software , you can automate manual tasks that consume a lot of your team's time. Thus, with the help of accounting tools, efforts and time are optimized and human errors are reduced, which positively impacts productivity.

Well, what did you think of our tips for controlling accounting routines? Now that you know more about this subject, put the recommendations mentioned here into practice and improve your accounting management.

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