I often use the phrase “follow the dots” about accounting processes. Bookkeeping processes were designed many years ago and while the systems we use have changed, the fundamentals haven’t.
Once you have your accounting system set up and running for a few months, it’s mostly just doing the same as the transactions previously; hence “follow the dots”.
When you have procedures documented, your team and new team members can undertake the task by following the procedure.
Yes. There are times when they are necessary for showing information in a different way. However, they shouldn’t be used to replace your accounting system; rather as an addition to it.
I’ve recently been working with a client who has a number of extensive spreadsheets that they maintain. A new team member had been updating them and adding in new information. When reviewing the data and ensuring the numbers...