We Write Accounting Policies and Procedures Fast

Are you tasked with writing or updating your company’s Accounting Policies and Procedures Manual? Accounting standard operating procedure (SOP) help, whether you want to standardize your bookkeeping processes by incorporating standard best practices, or build strong internal controls to prevent waste, fraud, and abuse, you have come to the right place to account for your SOP manual

The newly updated Accounting Procedures Manual from TC comes with 39 prewritten procedures, 56 forms, 32 Example Job Descriptions, a sample accounting manual, and a free Embezzlement Prevention Guide. Altogether over 700 pages of content written by knowledgeable CPA’s and technical writers, and reviewed by experts in the field

You will get each policy procedure template, in easily editable Microsoft Word format. Customizing the prewritten content is as easy as writing and editing your everyday office documents. And, best of all, you don’t have to start from scratch.

Accounting Best Practices are Key to Internal Controls

Both the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) recognize policies and procedures as key elements of internal controls. Templates from TC help you quickly implement an effective system of financial controls to achieve compliance with Generally Accepted Accounting Principles (GAAP), using industry best practices

Every company should document its accounting process.  A well-designed and properly maintained system of accounting policies and procedures documentation enhances your accountability and consistency, while at the same time producing long-term savings from reduced duplication, rework, training, and increased focus, consistency, and productivity

The resulting accounting policy and procedure documentation serves as a training tool for your accounting staff. Communication is essential to your internal control framework, and documented accounting policies and procedures are one of the best ways to communicate essential accounting information and make sure everyone in accounting is “on the same page”.  Well-designed accounting policies and procedures documentation promotes understanding between accounting and other departments.  Well-written accounting procedures enhance your accounting audit process, as well.

Accounting Manual Considerations

There are several things we have to consider when documenting and maintaining your accounting policy and procedure manual

1. SENIOR MANAGEMENT SUPPORT

First and foremost, management commitment is the key to getting procedures used.  Your accounting policies and procedures program requires the backing and support of senior management.  Without top management’s express support, the proper control environment won’t exist and without that, compliance – with whatever regulation or standard — will be extremely difficult to achieve

2. DOCUMENT THE ACTUAL ACCOUNTING PROCESS

We start with the current state of the accounting process, not the ideal state. We document the current state of your processes and train new employees on those procedures.  As we implement a given process, always we look for ways to improve it.  We make changes to processes as needed, update the accounting procedures accordingly, and hold a training event on the updated procedures

3. EMPLOYEE PROCESS OWNERS

Are your accounting policies and procedures driving improvement and internal control?  They will…IF you use your employees to drive the improvement process.  After all, they know their jobs and they’re naturally in the best position to improve them.

4. AVAILABILITY OF POLICIES AND PROCEDURES

Your documented accounting policies and procedures need to be available at the point of use, where they’re an integral part of the process. If they’re in another room, or if they’re not readily accessible on the employee’s computer, they won’t be used.  Out of sight is out of mind

5. DEFINE EMPLOYEE RESPONSIBILITIES

Even the CFO has defined responsibilities, authorities, and metrics, contained in a job description.  Do all of your accounting employees have clearly defined metrics?  Do they know what’s expected of them each and every day?  Who has the authority to approve certain transactions?  Who is responsible for safekeeping assets and controlling records?  Your job descriptions should be more specific than “collects receivables”, for an example.  They should indicate how many transactions processed per day, or how to prioritize receivables in order of collections importance.  Job descriptions should also ensure that employees understand how their functions and responsibilities are integrated with other accounting processes

6. CLEARLY STATED PURPOSE OF ACCOUNTING POLICY

What’s the difference between policies and procedures? A policy is a guiding principle used to set the direction of an organization, while a procedure is a particular way of accomplishing something.  Your accounting procedures should explain the internal controls they utilize, in order to increase employee understanding of, support for, and proper usage of those controls.  We can address all accounting policies in the introduction of the accounting manual, or address specific policies at the beginning of each accounting procedure

7. PERIODIC ACCOUNTING POLICIES PROCEDURES REVIEWS

Are your accounting procedures effective? Scheduled process-procedure reviews, integrated with your procedure writing standards (that include the “Seven Cs” to avoid procedure writing errors and your risk assessment framework)

8. UTILIZE A DOCUMENT CONTROL PROCEDURE TO APPROVE POLICIES AND PROCEDURES

“Document Control” is a procedure required by ISO 9001 because traceability and an improvement baseline for document changes are critical.  What if your accounting policies and procedures aren’t changing?  The world is not static — your accounting procedures shouldn’t be, either.  Remember, your competitors’ accounting procedures are changing

9. ORGANIZE THE ACCOUNTING MANUAL STRUCTURE

A sample accounting manual structure should cover exclusions, the organization of the accounting department, the applicable accounting standards , your accounting cycles or processes, accounting transactions and timing, documentation standards, cost accounting methodologies, and statements of ethics or company restrictions or related party-transactions

10. CREATE A USER-FRIENDLY PROCEDURE FORMAT

Who are you writing procedures for? Accounting users, of course — but are they novices, occasional users, or frequent users?  Different users have different needs, but all users require an easy way to navigate through your accounting policies and procedures manual, or else they will not use it.  We use a table of contents, color-coded tabs, and index numbers for departments or sections.  We provide a detailed index in the back with cross references to related subjects, regulations, or standards.  We make your accounting policies and procedures manual easy to use and your users will use it.

Save Countless Hours Developing Your Accounting Manual

You can spend hundreds of hours developing your Accounting Policies and Procedures Manual and still not have the comprehensive accounting best practices you and your company need. Why reinvent the wheel when you can get and use easily editable Word templates that are thoroughly researched to greatly simplify the policy procedure writing process. For your convenience, the accounting procedures are grouped into five categories

• Revenue
• Inventory
• Purchasing
• Cash & Credit
• Administration

Combined, these practices cover major accounting cycles like revenue and accounts receivable, purchasing and accounts payable, cash receipts, assets and inventory.  Moreover, common areas like travel and expense reporting. In addition to the general accounting best practices, you also get a free Embezzlement Prevention Guide that explains how embezzlement works and what you can do to prevent it in your organization before it starts

If you are ready to buy now, place your order by sending us an e-mail and one of our specialist/counselor will contact you within 24 hours. With our money-back guarantee, your purchase is risk-free!

Buy the Accounting Policy and Procedure Manual Today!