When automating a system, those words should set off alarm bells. At the very least, it shows that the person doesn’t understand how their system is supposed to work.A project manager I knew had an impressive but low-tech approach to this issue. The accounting implementation I was involved with was a part of a much larger reorganization…
The iDatix Accounting Blog
A blog about business process improvement within accounts payable and account receivable.
Wouldn’t it be nice if you didn’t have to spend any time administering your business? Now, I’m not suggesting for a moment that you can reduce your administration costs to zero, but maybe you will be inspired by one example of a therapist who has used automation to manage his business and reduce administrative tasks.
Accounting systems are only as good as their structure. And it’s hard to make good decisions based on bad data. A big problem that I see in medium sized business is that the owners / managers don’t know what to ask for (or even stop to think that it might be available) and the accountants don’t know what the owner needs. So here is how to get started.
Arguably, our first responsibility as accountants is to inform, to communicate but when someone asks us to explain accounting, we tend to start with debits and credits. It ’s like teaching someone to drive by explaining how an internal combustion engine works. In this article iNSIDER Bill Kennedy offers 3 tips to engage in more effective and successful communications.
Computerization starts by mimicking a manual process then improving it. As the technology gets better, the computer process transforms and surpasses the manual process, as people realize that technology opens options to them that they didn’t have before. At some point, it may become difficult to recognize the original manual process in the final product. Workflow started by taking electronic documents along the same path as the old paper documents…
Personal professional development is very important for accountants, but have you noticed how often the accounting system languishes, still at the version that was installed years ago? Staying current, both professionally and with your systems, is important for continued growth and success. But how do you ensure that you get what you want out of your system and stay up to date? Bill Kennedy tells us how.
As a small manufacturer, getting your first order from a giant company like Walmart or Sears can be a dream come true. But that dream can quickly turn into a nightmare if you don’t have the right systems in place. Let’s stand back a little and look at the best strategy for your systems if you are a medium sized company swimming with sharks.
Now, most people aren’t interested in preserving historical documents for future generations of scholars. All we really want is access to the information on the documents. Still, staring at row after row of filing cabinets can give you that unpleasant sinking feeling in your stomach. When you’re faced with a mountain of documents, what do you do? Accounting iNSIDER Bill Kennedy give us are five practical tips to stop drowning in documents.
Standards consistently change, companies are downsizing, how is all of this affecting accounting departments? When manager’s are unavailable, and executives are out of town, how do processes continue? Bill Kennedy takes us through some of these concerns, as well as his own experience struggling with inefficient accounting processes himself.
Bill Kennedy explores some of the most pressing AP problems, the things that keeps accountants up at night. Anything that makes an accountant have to drop everything and scour through filing cabinets, dusty boxes and storage warehouses looking for critical documentation always keeps an AP clerk up at night. So what do you do about it?
Changing accounting standards always bring about headaches for accounting departments. What do you do when new rules and regulations require you to get back 10 years of financial documentation? Traditionally, you scour through files, folders and cabinets searching for what you need-and hopefully you find it. What if there was a better way?
nexAir, a Memphis company which specializes in distributing gasses such as oxygen and nitrogen, started going paperless in its accounting department and quickly realized the rest of the company was wasting paper and money as well. They quickly learned the benefits of the paperless way after it adopted a workflow management solution in 2008. See how a workflow management system transformed their business, and the steps you can take to go paperless as well.