“Removing Roadblocks on Your Path to Success”
Improving Year- End Closing Procedures
Happy Holidays! It is that time of year again. The daylight hours are getting shorter and nights are getting longer. We have more family obligations and seemingly endless time commitments. On top of all this, every business with a calendar year-end must close its books and prepare annual financial statements now.
Closing the books is a process that should be constantly improved. What are the major stumbling blocks? What is consuming the most amount of time? Below are three suggestions for helping you increase the efficiency of your annual accounting closing procedures.
Foster an Attitude of Making Continuous Upgrades
Involve your employees in improving the closing process. When more people take ownership, there is greater accountability in the undertaking. Discuss what worked, what did not work and areas to improve. Innovation and reinvention are essential here.
The more open you are about the systems and roles you have in place the more commitment you will receive from your staff. Greater transparency yields more collaboration.
Set Goals for Advancements
What gets measured gets done. Create benchmarks for process refinements that clearly define success for your team. What types of improvements are you looking for? How would they increase performance levels, raise effectiveness and shorten time requirements?
There is a very comprehensive “Annual Checklist” in the Pacific Crest Group’s posting “End of the Year: Time to Close the Company’s Books” to help you enhance your current closing procedures.
Special Event: Pacific Crest Group is a founding member of the Marin Business Forum. Our next meeting is Thursday, January 21, 2016 from 5 PM to 7 PM at a location to be announced soon. Dr. Robert Eyler, Chief Economist with the Marin Economic Forum, will provide a brief overview of the global, national, state and regional economy as 2016 unfolds. Please go to the Events page to register for this event.
Pacific Crest Group (PCG) provides professional services that keep your business focused on your critical objectives. We provide strategic Accounting and Human Resource (HR) services created specifically to help you meet your goals. Through exemplary customer service, clearly defined policies and procedures as well as a forward looking perspective, we provide the outsourced solutions that your business needs to grow. A PCG professional is happy to meet with you to discuss solutions for your unique requirements designed to maximize all of your business opportunities.
About PCG Accounting Services:
Pacific Crest Group helps small and mid-sized businesses throughout the San Francisco Bay Area change their bookkeeping and accounting from a hassle to a strategic resource. We bridge the gap between your books and your business, so that you can intelligently manage your company.
About PCG HR Services:
We’re the most trusted company when it comes to outsourcing your HR functions. Whether it’s creating onboarding materials and employee development programs, or dealing with toxic employees, we ensure that your business is set up for short and long-term growth.
If you have any questions about how Pacific Crest Group can help make 2015 a success for your business, drop us a line or call us at 415-461-2586!
Until next month, we wish you the very best and much success in your business.
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This newsletter is intended to provide generalized information that is appropriate in certain situations. It is not intended or written to be used, and it cannot be used by the recipient, for the purpose of avoiding federal tax penalties that may be imposed on any taxpayer. The contents of this newsletter should not be acted upon without specific professional guidance. Please call us if you have questions.
Copyright 2015, Pacific Crest Group, All rights reserved.