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Monthly Dose for the Monthly Close

For the Evolving Accounting Department

June 2012

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About ART

ART equips executives with striking insight into their balance sheet by transforming the account reconciliation process.  Do away with spreadsheets, crazy emailing and manual distractions.  Enjoy ART's powerful workflow management and reporting tools to automate account reconciliations and become more productive without ever installing software.

Whitepapers

Three Ways to Torture Your CFO



Redefining Management's Expectations on Quality, Productivity and Cost of Maintaining a Healthy Balance Sheet


 

We Know That...

Adopting new technology is a big change.  That’s why we offer different ways to help you decide if ART is right for your accounting group. 

FREE TRIAL
Sign up for a free trial.  In just a few days, your accounting team can test drive ART for themselves.

LIVE DEMO
Schedule a private demo for your group to see how ART can transform your account reconciliation process without breaking the bank. 

TALK TO US
See if ART can drive productivity and automation into your monthly close by lightening workload, standardizing and creating total transparency.




5 Rules to Building Checklists that Don't Suck

  Nancy Wu, Head of Client Service

Creating activity checklists is a great way to collectively download our brains and build repeatable processes at work.  But whether it's around journal entries or account reconciliations, the quality of the checklist itself can heavily affect the desired outcome.

So how does one go about building a good checklist (or at least one that doesn't suck)?  Here are five general rules to follow:
  1. One Name per Task.  Make it clear who’s on point by assigning one primary person, and only one, along with a back-up for each item.  Muddled accountability confuses the staff and frustrates management.
  2. Get the Story.  Go by chronology so that the checklist can tell the story during the close.  Where is the process getting stuck?  What’s holding up the Flash?  Are you running ahead or behind schedule?  A chronologically ordered checklist can answer those questions at a glance.
  3. Be on the Same Page.  Don’t leave it entirely up to each person to decide what needs attention.  Clearly distinguish tasks that lie on the critical path, so that everyone can focus their energy accordingly. 
  4. Technology Can Hinder.  Does the team get “locked out” of a shared checklist?  Are there version control problems?  Annoyances like this seem small, but play their part in discouraging participation.  Either adopt more appropriate tools or revert to “no-tech” alternatives if necessary.  Print a hard copy and have team members write in as things get done.  We have so few opportunities to use a pen and paper these days that it may be a welcoming change.
  5. Avoid Too Much Information.  Information that must be collected manually comes at a steep human cost.  Weigh the value of statistics against the cost of acquisition.  Avoid asking your team to produce data that is overly cumbersome to gather, as it will just guarantee inconsistent delivery and a lot of grumbling.

ART's Reconciliation Checklist Never Sleeps

The best kind of checklist is the kind that updates itself.  Whether you have hundreds or thousands of accounts, ART constantly keeps you apprised of reconciliation completion status, date, exceptions and variances in real-time, without the need to intervene manually.

Request a demo and see what ART can do for you.




Here's to an Awesome Close!


  
  


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