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No matter what accounting process you are establishing, whether accounts payable process, accounts receivable process, or financial reporting process, it can easily be done through an accounting flowchart. Having a hard time starting to create one? Do not worry because we will surely lend you a hand through our Accounting Flowchart Templates that are available in Google Docs file format. Our templates will surely provide you the convenience that you need as they are 100% customizable depending on your preferences and needs. So, make a move today and start creating your accounting flowchart now by choosing any of our excellently designed templates.
Warren Buffett highlights that accounting is the language of business. This always reminds us the importance of accounting in every industry and every business. To make us efficient and effective in our accounting, using a flowchart would help us simplify any accounting process, may it be creating a balance sheet, income statement, general ledger, inventory, among others.
One misconception about accounting is that many people would assume it is just about bookkeeping. However, it is more than that. Accounting encompasses all financial transactions of the business, including auditing and taxation. Hence, when you create a flowchart, you must specify your purpose. For example, you can create the accounting process for purchasing goods or for posting sales reports.
A flowchart must not only be presentable; it must also contain the correct and appropriate information for it to serve its purpose. So, while working on the design of your flowchart is good, it would be better if you would also focus on checking whether the step-by-step approach supports the solution in solving a task.
Symbols play a vital role in flowcharts as they represent specific actions or steps in a process, the sequence of the steps, and the relationship of the processes. Among the commonly used symbols for accounting and finance flowcharts are as follows:
Your company flowchart must be plain and simple so readers can quickly understand the process. Its purpose will be defeated when it is too complex to comprehend. Use easy-to-understand words or phrases, and avoid the excessive use of accounting jargon.
An accounting flowchart will help you in a lot of ways:
The basic flowchart types are as follows:
Yes. There are a lot of tools and apps online that would let you create a flowchart.
There are several tools that you can use, including the following:
Google Docs lets you create a flowchart with ease. Here are some tips that you can follow: