Once we have determined the financial structure and established processes in the business, we move on to collecting data taking into account the information received. Unified register
When constructing management accounting, we proceed from the following concept:
The accounting system must be understandable and convenient for the user (including those with minimal knowledge of the basics of financial accounting).
The system must be flexible (ability to quickly change functionality).
It should take minimal time for managers to receive information (reports should be generated in real time).
We do not set ourselves the goal of developing heavyweight software for the needs of large holdings with excessive functionality for medium and small businesses. Therefore, we use MS Excel as the main software product for building accounting. MS Excel allows you to build a fairly light, flexible and powerful management accounting system with automated preparation of the necessary reports.
Our task was to choose an accounting method that would be the easiest to maintain and would reflect data with sufficient bolivia whatsapp number database accuracy.
There are two main methods of accounting: itemized accounting and the double entry method.
The "double entry" method is necessarily used in accounting and ensures the greatest accuracy of accounting. However, this method requires good training and knowledge of the basics of accounting from the user, so we abandoned this method.
The itemized method is easy to use and does not require special knowledge. When reflecting the facts of economic activity, the user is only required to indicate which income or expense item the transaction relates to. When building management accounting, we settled on this method, since simplicity of accounting is important to us.
All accounting information is registered in one unified register of operations, and reports are generated based on this table. Therefore, all changes made to the unified register are immediately reflected in management reports.
The user can fill in the register manually or through a special form. All necessary details are set for each operation: date, amount, operation article, counterparty, CFO. The number of mandatory details can always be increased, it all depends on the analytics that top management needs to receive.
The user does not need to enter expense items, settlement accounts and other analytics manually. All static information is entered into the reference book. After that, when entering transactions, the user only needs to select the necessary items from the drop-down list.