Accounting starts with business processes
The accountant needs to understand how the company earns revenue, what costs it incurs, and whether it has employees, inventory, imports, exports or transactions in several currencies.
This forms the basis for agreeing document delivery, responsible contacts and matters that require consultation before a transaction is completed.
Documents to organise
The system should link each movement of funds to a contract, invoice, evidence of performance and bank transaction. The exact set depends on the transaction.
- issued and received invoices;
- contracts, orders and delivery evidence;
- bank statements and cash records;
- employee and payment information;
- documents for international transactions and transport.
Management remains responsible
Using an external accountant does not remove management’s responsibility to provide accurate and complete information. New activities, significant or unusual transactions and company-structure changes should be raised in advance whenever possible.
Regular communication prevents the accountant from learning about an important transaction only after money has moved.
Building a sustainable process
A practical arrangement uses one document channel, an agreed information calendar and clearly identified contacts. For an international company, management also needs to understand requests made by the Hungarian accountant.
Casual Style Kft. helps organise information exchange and coordinate accounting matters between the client and relevant professionals.