We’ve made it easy for you to build your Accountant SOPs. Add the example SOPs to our SOPs template and then customise them to suit your specific systems & processes.
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Creating Standard Operating Procedures for your Accountant work can be difficult and take time. That’s why we’ve created these example Accountant SOPs so you can jumpstart your SOP creation process. We want to help you set up your Finance systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Finance procedures in one place, your team will have the information they need at all times. Let’s look at some Accountant SOP examples.
1. Financial Statement Preparation SOP: The purpose of this SOP is to outline the process for preparing accurate and reliable financial statements. It includes guidelines for gathering financial data, reconciling accounts, and ensuring compliance with accounting standards. The scope of this SOP covers all financial statements, including balance sheets, income statements, and cash flow statements. The person responsible for this SOP is the senior accountant or finance manager. This SOP references the Chart of Accounts SOP and the Financial Reporting SOP.
2. Chart of Accounts SOP: The purpose of this SOP is to establish a standardized chart of accounts that organizes financial transactions and facilitates accurate recording and reporting. It outlines the structure of accounts, including their numbering system and naming conventions. The scope of this SOP covers all accounts used in the organization’s financial records. The person responsible for this SOP is the senior accountant or finance manager. This SOP references the Financial Statement Preparation SOP and the General Ledger Maintenance SOP.
3. General Ledger Maintenance SOP: The purpose of this SOP is to define the procedures for maintaining the general ledger, which is the central repository for all financial transactions. It includes guidelines for recording journal entries, posting transactions, and reconciling accounts. The scope of this SOP covers all general ledger accounts and their associated sub-ledgers. The person responsible for this SOP is the senior accountant or finance manager. This SOP references the Chart of Accounts SOP and the Financial Statement Preparation SOP.
4. Accounts Payable Processing SOP: The purpose of this SOP is to establish a systematic process for managing accounts payable, including the receipt, verification, and payment of invoices. It outlines the steps for reviewing invoices, obtaining necessary approvals, and recording payments. The scope of this SOP covers all accounts payable transactions and vendor relationships. The person responsible for this SOP is the accounts payable clerk or finance manager. This SOP references the Purchase Order Processing SOP and the Cash Disbursement SOP.
5. Purchase Order Processing SOP: The purpose of this SOP is to define the procedures for processing purchase orders, ensuring accurate and timely procurement of goods and services. It includes guidelines for creating purchase orders, obtaining necessary approvals, and tracking order status. The scope of this SOP covers all purchase orders issued by the organization. The person responsible for this SOP is the purchasing manager or finance manager. This SOP references the Accounts Payable Processing SOP and the Inventory Management SOP.
6. Cash Disbursement SOP: The purpose of this SOP is to establish controls and procedures for managing cash disbursements, including check writing, electronic payments, and petty cash management. It outlines the steps for verifying payment requests, obtaining necessary approvals, and recording disbursements. The scope of this SOP covers all cash disbursements made by the organization. The person responsible for this SOP is the accounts payable clerk or finance manager. This SOP references the Accounts Payable Processing SOP and the Bank Reconciliation SOP.
7. Bank Reconciliation SOP: The purpose of this SOP is to outline the process for reconciling bank statements with the organization’s financial records, ensuring accuracy and identifying any discrepancies. It includes guidelines for comparing bank transactions, recording adjustments, and investigating variances. The scope of this SOP covers all bank accounts held by the organization. The person responsible for this SOP is the senior accountant or finance manager. This SOP references the Cash Disbursement SOP and the General Ledger Maintenance SOP.
8. Budgeting and Forecasting SOP: The purpose of this SOP is to establish a standardized process for developing and monitoring budgets and financial forecasts. It outlines the steps for gathering relevant data, preparing budget templates, and analyzing variances. The scope of this SOP covers all budgeting and forecasting activities within the organization. The person responsible for this SOP is the finance manager or controller. This SOP references the Financial Statement Preparation SOP and the Cost Analysis SOP.
9. Cost Analysis SOP: The purpose of this SOP is to define the procedures for analyzing and controlling costs within the organization. It includes guidelines for identifying cost drivers, calculating cost variances, and implementing cost-saving measures. The scope of this SOP covers all cost analysis activities, including product costing and cost allocation. The person responsible for this SOP is the finance manager or controller. This SOP references the Budgeting and Forecasting SOP and the Financial Statement Preparation SOP.
10. Internal Controls and Audit SOP: The purpose of this SOP is to establish a framework for implementing and monitoring internal controls to safeguard the organization’s assets and ensure compliance with regulations. It outlines the steps for conducting internal audits, documenting control procedures, and addressing control deficiencies. The scope of this SOP covers all internal control activities within the organization. The person responsible for this SOP is the internal auditor or finance manager. This SOP references the General Ledger Maintenance SOP and the Accounts Receivable Processing SOP
Looking for SOP templates for your Accountant work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Accountant work. Get in touch if you’ve got questions about the quickest way to build out your Finance SOPs library.
