Does your company have a complete set of accounting policies and procedures? If so, when was the last time you reviewed them?
Whether you’re required to have documented accounting policies and procedures with appropriate internal controls or simply want to document your internal processes and implement best practices, your small business can benefit from this accounting policies and procedures template built by accountants, for accountants.
Pre-defined Microsoft Excel Template
Creating and maintaining an accounting policies and procedures manual requires an investment of time and attention. There is no “one size fits all” method, so you should tailor your policies and procedures to the size of your organization and complexity.
Even if you’re just starting in business with only a few accounting department team members, you can create a basic accounting policies and procedures manual and add to it as your needs change.
To begin documenting your organization’s accounting practices, start by listing out all of the accounting and financial processes completed by each member of your team. Then use our sample accounting manual template to document the following:
Documenting each of your organization’s policies and procedures may require working with several departments beyond accounting, including human resources, legal, etc.
Having documented accounting policies and procedures can benefit your organization in several ways.
Many small- to medium-sized companies and nonprofit organizations have limited accounting staff, and information and responsibility may be controlled by one or two employees. Without documented policies and procedures, replacing these employees becomes nearly impossible because no one else in the company knows what needs to be done or how to do it.
Creating a detailed accounting policies and procedures manual can also help you:
To simplify the process of creating your accounting process manual, download the free Microsoft Excel template above so you don’t need to waste time setting up your worksheets.
While this manual template is helpful, to save even more time on your monthly close, organize and automate your monthly close in the cloud with FloQast.