This article, Continual Improvement, is the final phase of the process improvement project I began outlining in May. This phase represents a time to review the progress your staff has made and plan for additional improvements. You have begun the transition to create a mindset of continual improvement in accounting. Take a step back andContinue reading “The 2 Day Close, Phase 8 – Continual Improvement”
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The 2 Day Close, Phase 7 – Audit Preparation
As a government contractor, your company may be subject to both financial statement audits and DCAA audits. In this article, I discuss preparing for an audit throughout the year to reduce audit stress, refocus staff on analysis and identify areas of improvement. If you have followed the phases outlined in my last six articles, youContinue reading “The 2 Day Close, Phase 7 – Audit Preparation”
The 2 Day Close, Phase 6 – Data Integration
The true power of the cloud is delivering enterprise software as a service (SaaS) in manageable and affordable components to companies of all sizes. Companies have the opportunity to select specialized software tools from multiple vendors to create a solution that best fits their needs. As the business grows and changes, software services can beContinue reading “The 2 Day Close, Phase 6 – Data Integration”
The 2 Day Close, Phase 5 – Continually Monitoring Data
Achieving a 2 day month end closing requires a paradigm shift in traditional accounting processes. A shift in process and approach not only within the accounting department, but throughout your organization. In this post I outline how to introduce, implement and manage this shift in your organization. A traditional accounting department spends a largeContinue reading “The 2 Day Close, Phase 5 – Continually Monitoring Data”
The 2 Day Close, Phase 4 – Simple Changes
In this posting I outline a few changes that every organization should consider to simplify accounting processes, improve accuracy and timelines of their financial information. Changing any process is never simple; however, the decision to make these changes are straight forward. Logical & Standard Chart of Accounts (COA) The value of timely and accurateContinue reading “The 2 Day Close, Phase 4 – Simple Changes”
The 2 Day Close, Phase 3 – Initial Process Review
You are ready to meet with your accounting staff to launch a process improvement project. How will you recognize areas for improvement and how will you over come push back from staff, especially if you are not an accountant? This post will cover those questions as well as developing your project plan and creating processContinue reading “The 2 Day Close, Phase 3 – Initial Process Review”
The 2 Day Close, Phase 2 – Approaching Your Staff
How do you tell your accounting staff you are going help them be more productive? You realize your company should be closing the books faster, managers should have access to accurate information sooner and you expect more from your ERP system. Process improvement in accounting is long over due, but accounting seems like a mystery.Continue reading “The 2 Day Close, Phase 2 – Approaching Your Staff”
The 2 Day Close, Phase 1 – Defining Your Approach to Closing
In my last post, Closing Your Books Faster and Maximizing the ROI on Your ERP Investment, I outlined an 8 phase approach to create a culture in accounting to accelerate month end closing and recognize a greater ROI. This article, Defining Your Approach to Closing will help you develop your expectations and goals, and helpContinue reading “The 2 Day Close, Phase 1 – Defining Your Approach to Closing”
The 2 Day Close for Government Contractors
Why can some companies close their books faster than others? Why do some ERP implementations deliver a much higher ROI than others? In short, these companies have changed the mind set in accounting to continually strive for process improvements as part of their daily operations. Insufficient staff size, lack of proper training and project planningContinue reading “The 2 Day Close for Government Contractors”
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