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I had a long morning session with a group of passionate business owners on setting up proper document Workflows, Authorization Matrix and Chart of Account.
Business transactions used to be either unreceipted, Unrecorded or Recorded incorrectly in wrong Codes of Accounts, or loosely Authorized.
The quality of the Accounts was extremely poor, rendering the books unreadable and not possible to be analyzed.
I presented and explained how the 5 typical business Workflows would give rise to the relevant Document flows via the Authorization Matrix, and how these approved Documents should be rightfully captured in the Accounts.
These 5 typical business Workflows are :
1. Order-To-Cash
2. Procure-To-Pay
3. Expense Incurrence
4. Capital Expenditure
5. Hiring & Firing
At the end of the long briefing session, the group of business owner clients were greatly enlightened.
They left my office with much appreciations and one of them WhatsApp me to say “Thank You Very Much! We learnt a lot Today”.
If you need help, feel free to contact us at :
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