Free Finance Manager Handover Note

Finance Manager Handover Note

Prepared By: [YOUR NAME]

Date: June 21, 2050

I. Introduction

The purpose of this Handover Note is to provide a comprehensive overview of the key information and responsibilities associated with the finance management role. It aims to ensure a smooth transition and continuity in financial operations and decision-making processes.

II. Current Projects

Project Name	Status	Next Steps
Annual Budget Preparation	In Progress	Finalize department inputs, submit draft by October 15
Quarterly Financial Review	Completed for Q3	Prepare presentation for the board meeting in November
Audit Preparation	Pending	Gather required documents, liaise with external auditors

III. Key Contacts

Name	Role	Contact Number
Elijah Chambers	Chief Financial Officer	318 555 7777
Liam Wheeler	External Auditor	319 555 7777
Amelia Hudson	Senior Accountant	320 555 7777

IV. Financial Policies and Procedures

Expense Reimbursement Policy: All expenses must be submitted within 30 days of occurrence, supported by receipts. Ensure compliance to facilitate timely reimbursement.

Budget Approval Workflow: Department heads are required to submit budget proposals by Q3 for the subsequent fiscal year. These proposals will be reviewed and approved by the CFO.

Invoice Processing Procedure: Invoices should be verified by the respective department, approved by the finance manager, and processed within 15 days to ensure timely payments.

V. Pending Issues

Finalization of the Q3 Financial Performance Review Report: This report is essential for strategic planning and should be prioritized.

Resolution of Discrepancies in the Accounts Receivable Ledger for Q2: It’s crucial to investigate and resolve these discrepancies to maintain accurate financial records.

Completion of the New Vendor Onboarding Process for the IT Department: Follow up to ensure that this process is completed to avoid delays in vendor payments.

VI. Reporting Obligations

Report Name	Due Date	Frequency
Monthly Financial Statement	1st of Every Month	Monthly
Quarterly Budget Review	15th of the First Month of the Following Quarter	Quarterly
Annual Financial Report	March 31	Annually

VII. Tools and Software

ERP System: SAP - Utilized for overall financial management, inventory control, and procurement processes. Familiarize yourself with the reporting features.

Accounting Software: QuickBooks - Used for managing day-to-day accounting transactions and payroll. Ensure you have access to and understand its functionalities.

Financial Planning: Adaptive Insights - Employed for budgeting, forecasting, and financial analysis. It’s essential for strategic decision-making.

VIII. Conclusion

Your role as the incoming finance manager is crucial to the continued success of our financial operations. I trust that this handover note provides you with the necessary information and resources to transition smoothly into your new responsibilities. Best wishes for your success in this role!

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