SSI Consulting

Project Management and Accounting Go Hand in Hand

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Proper project management within your company is vital for all departments, especially accounting. Let’s take an in depth look at 3 general accounting tasks and how project management can make or break the outcome.

Recording:

  • recording and documenting financial transactions
  • reconciling accounts on a daily, weekly, or monthly basis

Consistent project management of developing, implementing, revising, and documenting record-keeping and accounting systems is essential to producing accurate records. In addition, everyone within your company needs to be on board with the process you choose.

Analyzing:

  • examining accounting records, financial statements, and other financial reports to assess accuracy, comprehensiveness, and conformance with reporting and procedural standards
  • analyzing business functions, trends, costs, revenue, and financial obligations
  • evaluating cash flow and financial risks associated with capital-investment projects

Your accounting solution is going to give you numbers upon numbers, but do you have a process in place to define what analysis you need in order to make accurate projection and forecasts of your revenue and expenses?

Reporting:

  • reporting to management regarding finances
  • computing taxes owed and preparing tax returns

You may have access to reports showing everything you need to know, but what is the plan for preparing those financial reports for presentation to boards of directors, members of management, creditors, shareholders, and statutory bodies on a regular basis or when requested? Project management of this area is key in delivering a complete and concise message.

SSi Consulting is a Gold-Certified partner serving customers in the Mid-Atlantic area offering hosted Microsoft Dynamics® GP and Microsoft Dynamics® SL at very low monthly rates. Whether you need accounting software, job cost accounting, help with your wholesale/distribution supply chain, or business management solutions for non-profits, SSi Consulting is your total solution provider.

By Bill Aiton with SSi Consulting, Mid Atlantic Microsoft Partner

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