Accounting Policy Preparation Services Company - CapActix
For the smoother functioning of the accounts department, some information is required. Things like accounting policies and procedures provide a sequential mapping of interlinked processes along with the required checklist that helps with the proper functioning of the accounts department. There is no need of constant supervision if appropriate implementations of company policies and procedure are made once. The business will then run smoothly even in the absence of guidance. Consider an example: if you set not accepting post-dated checks as a policy, no post-dated cheques would be taken by your employees even in your absence. Drafting procedures and accounting policies for small companies might seem cumbersome, but it is beneficial in the long run.
At CapActix, we help businesses and manufacturing companies in analysing the accounting processes, exploring best industry practices, preparing suitable policies, and managing proper procedures. We also assist in assigning the job to best training team for implementation of improved policies and procedures.
Critical steps in drafting suitable policies and procedures are as below:
Organizing structure for writing
First of all, the total number of sections or processes like accounts payables, fixed assets and cash, and bank are determined by our team. For a proper understanding of documents and transparent organization, we allocate a unique reference number to each policy and procedure.
Preparing customized templates suitable for your organization
Our services are not meant for any specific business because we understand that every business has its unique arrangements and is different from others and therefore, the company’s accounting policies and procedures are also different. Keeping in mind this, we prepare customized templates for documentation to make writing easy to understand.
Providing clear and good write-ups
The company policies and procedures are read and used by a large number of people with a different set of knowledge, experience, and interests. Some of the people using these policies might not feel comfortable commerce technical jargons. Therefore, at CapActix, we provide you easy to read, bright, and concise write-ups.
Flow charts and graphics
Graphical presentation of information is always appreciated because of its direct practical impact on the mind. These are easy to understand, and the data stays in memory for longer. Therefore, the procedures are plotted as flow chart at CapActix regarding policy reference point. Flow charts are placed in the right place where they need to be present in the policies sections of manufacturing companies.
Incorporation of good internal controls
We believe that the ultimate objective of standardization is setting up an internal sound control over the accounting policies of small companies. Therefore, the goal is kept in mind while drafting policies and procedures.
According to the professionals at CapActix, it is essential to review the company policies and procedures at least once a year to check whether they are still valid or not and make changes if required.