{"id":16303,"date":"2022-01-05T17:21:20","date_gmt":"2022-01-05T16:21:20","guid":{"rendered":"http:\/\/loki.cmre.fr:8002\/?p=16303"},"modified":"2022-01-05T17:21:24","modified_gmt":"2022-01-05T16:21:24","slug":"accounting-entries-5-best-practices-to-adopt","status":"publish","type":"post","link":"https:\/\/www.n2f.com\/blog\/en\/accounting-entries-5-best-practices-to-adopt\/","title":{"rendered":"Accounting entries: 5 best practices to adopt"},"content":{"rendered":"\n

Companies are legally obliged to post accounting entries. This provides the tax authorities with information about the company\u2019s finances, but it is also a good performance and monitoring indicator<\/strong> for the company itself.<\/p>\n\n\n\n

In this article, we give you three tips to help avoid surprises when entering your purchase invoices, sales invoices, bank statements, VAT declarations, tax notices or payroll journals!<\/p>\n\n\n\n\n\n\n\n

Follow a clear validation circuit for expenses and purchases<\/h2>\n\n\n\n

Following a clear and precise validation circuit for expenses and purchases is essential for posting correct accounting entries. This internal control process guarantees the compliance of your procurement processes<\/strong> and allows you to approve and then validate purchases of goods or services.<\/p>\n\n\n\n

The validation circuit for expenses and purchases comprises four steps:<\/p>\n\n\n\n

#1 – Transmit purchase requisitions to management<\/h3>\n\n\n\n

Your employees should state their requirements <\/strong>in concise specification documents. These documents provide key information about the requirement in question: short description, date required, department concerned.<\/p>\n\n\n\n

#2 – Identify approvers<\/h3>\n\n\n\n

The number and profile of decision-makers is not fixed, as it depends on the type of purchase, its amount, and the department concerned. This approval chain is simplified when it is part of a digitized procurement process<\/strong>: purchase requisitions are automatically sent to the approvers who then accept or reject them.<\/p>\n\n\n\n

#3 – Configure approval settings<\/h3>\n\n\n\n

Management should define different levels of authorization and approval conditions in the form of expenditure thresholds. These approval flows must be able to adapt<\/strong> and to redirect information to the right person \u2013 if a decision-maker is absent, for example.<\/p>\n\n\n\n

#4 – Track requests and approvals<\/h3>\n\n\n\n

Tracking the entire procurement circuit allows you to verify that the process is satisfactory and to show that a purchase is compliant<\/strong>, during audits or disputes for example. Moreover, guaranteeing the traceability of all your accounting flows and ensuring that your operations are transparent will significantly reduce the risk of errors. <\/p>\n\n\n\n

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💡 See also : Expense report management: 5 good reasons for choosing a smartphone app<\/a><\/p>\n\n\n\n

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Organize and archive accounting documents<\/h2>\n\n\n\n

Put this organization in place gradually<\/strong> so that you aren\u2019t completely overwhelmed when it\u2019s time to post your accounting entry!<\/p>\n\n\n\n

For example, use a three-part presentation for your purchase journal:<\/p>\n\n\n\n