Key Points for Organisation to Close their Monthly Accounts
Setting up the Reporting Mechanism & Process of Monthly Closure of Accounts.
The Problem
Management are not getting suretly on the closing of accounts, they always worried whether accounts are written correctly, all compliances are following up, payment of Taxes and returns filing on time, Monthly Reports of their Financials, whether accounts are closed each month or not.
The Solution
The Challenge
They have team of >25 people in their accounts and no proper Reporting was set by management for employees.
We Made
We have draft the SOP, Control points, Monthly Key Reports, Employee monthly closure Reporting, etc. We have provided 25 Key Report lists to management with one accountable person. That Accountable person collects the monthly report from each concern person, report to management on 5th of every month. And also review the SOP and update it quarterly basis or when required.