Accounting workflow timeline
Daily:
In their day-to-day work, accountants need to deal with various expense reimbursements and accounting processing. They need to carefully reconcile every spend to ensure its accuracy and compliance. At the same time, they also need to collect invoices and conduct invoicing operations on a regular basis according to the company's business needs. These invoices will serve as proof of the company's income and expenses, and provide a basis for subsequent accounting processing. End of the month:
At the end of the month, accountants need to carry out a series of financial processing. First of all, they need to certify and deduct VAT invoices to ensure that the company can enjoy tax incentives. Second, they need to accrue depreciation or amortization to provide data support for the company's asset impairment provisions. In addition, they are also required to accrue wages and social security expenses to provide accurate accounting for the company's payroll expenses. Finally, they need to demand payments to ensure the company's unimpeded flow of funds. At the same time, month-end inventory and reconciliation is also one of the important tasks of accountants to ensure the accurate recording of the company's assets and liabilities. Early next month: At the beginning of next month, accountants need to issue financial statements to provide a basis for decision-making by the company's management. These statements will provide detailed information such as the company's financial position, results of operations, and cash flows. In addition, they also need to carry out operations such as copying, filing and clearing cards to ensure the company's tax compliance. These jobs require accountants to have solid professional knowledge and rigorous work attitude to ensure the accuracy and integrity of the company's finances.