Features access to finance – Project Managers should I have it?
“Nobody touches my bills!” A statement heard in the planning of integrated working implementations and cost accounting solutions for organizations that previously ran separate systems for them. Finance teams insist that anyone outside of your computer must be able to activate the ad accounts.
What at first appears to be a valid concern for the finance department, however, in many cases are already being overtaken by reality in its current procedures.
It is not an issue in which managers use budgets generate work or purchase orders, not created by its publication in the GL. But project managers often have the responsibility and to generate documents such as bills of sale and send them to your customers – rather than just the wording – with the finance department only then recording the invoices in your financial software. The details of these project managers do not actually have write access to financial software does not alter the fact that the documents submitted are legally binding documents and therefore must be recorded in the accounts. If you made a mistake in any of these bills, the bill has not yet been poorly recorded by the finance team and corrected by generating a credit memo and amended bill.
Because the reality of their current systems, is the paradox of introducing an integrated system in order to streamline workflow and reduce duplication of data entry, but then the job of administrators to restrict access to functionality , reversing the benefits. That’s why many companies decide to give your project to access the functions of HR managers as billing, having put in precautions to minimize the possibility of errors:
When the software is at first, accounts departments are capable of building the system in a way that shipments to the accounts are under complete software control and can not be overwritten by project managers. Looking again at the example of a bill of sale, usually just a case of creating a link to a GL account to debit transactions (accounts receivable or debtors) and – depending on the state – one or two Message Credit (Sales and Income Taxes *). If the bundled software does not give project managers the option to overwrite any of these codes, there is a good argument to be able to enter sales invoices.
If – in addition to the example of an invoice AR – Users are responsible for deciding what work associated with the purchases of the costs are covered by this bill, there is not much to say against giving them access to this part of the ad accounts either. In many companies using accounts and systems of work costs the finance team of project managers will ask anyway to get more details about what is and what not yet covered by the bills AR (what stays or leaves WIP). So again, if project managers are limited to overwrite the system’s audit work in progress GL Cost of sales, letting them decide on a level of work that must be transferred, will increase the workflow with minimized risk mispostings.
There are, of course, always individual cases that require users – initial – hold hands by the finance team and the finance team has to maintain overall control and responsibility. There will always be human error, but there are also errors in the accounts of departments and mistakes can be corrected.
Companies that have given this kind of access to their project managers have experienced an increase in labor economics. Financial managers can spend more time on financial management rather than data entry and project managers see an increase in job responsibility and job satisfaction.
Summarising all the points outlined above, the answer to the title question must be: It makes sense in the introduction of an integrated work and cost accounting solution to give users outside the finance department of limited access financial functions, if they have been established in the system and the system has been created under a strict control over them.
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Tags: Features access to finance, Finance, Finance Department, Financial Software, Personal Finances