advertise your website Login Registration
Submission Guidelines Recent Approved Articles Featured Articles
Submit Free Article
Home About Us Advertising GuideLines Do's & Don't T & C FAQ Contact us
  Home Computers & Technology Articles Software Articles
HostJinni Promotions
Articles Category
Arts & Entertainment
Computers & Technology
Food & Drink
Health & Fitness
Home & Family
Home Based Business
Home Improvement
Just for Women
Kids & Teens
News & Society
Online Business
Online Tickets
Real Estate
Reference and Education
Self Improvement
Sports & Recreation
Travel & Tourism
  Member Area
Author Login
Free Registration
Authors From Country
  Helpful Topics
How to Write Articles
Free Early Approval Tips
Why Article Submission
  Best of Webzine
Leader Board
Most Viewed Articles
Top Rated Articles
  WebZine Status
Total Articles -24836
Registered Authors - 4371
Featured Articles - 340
Articles added this
month - 61

Should Accounting Tasks Be Confined To The Finance Team?

Traditionally, departments within an organisation are confined by their day-to-day tasks. There were some great advantages to this, as everyone knew exactly who should be doing what. Marketing were in charge of x, Finance did y, and HR did z.

Unfortunately, the real world doesn’t work this way. With the staggering advances in technology, the world has become a busy place indeed. Information is shared and received quicker and more easily than ever before. We now demand the information we want, and we expect to get it quickly. This means each department needs to work a little differently.

Where does the problem lie?
In order to get all the information we want, we still need people to provide this. So when it comes to acquiring accurate and up to date financial information quickly, there is often a bit of a struggle.

Finance has to request expenses, updated budgets and POs from various departments throughout the organisation. Once all this is collected, it’s usually entered manually or imported into the accounting system. With manual entry, there’s always the risk of duplicate data, wrong data, or worse of all – missing data.

When it comes towards month-end, all the managers, senior managers and directors need a report to review performance over the last month or quarter. So, what happens when all this work needs to be done with limited resource? You experience a bottleneck. People get impatient, waiting for their report to come through and by the time it finally gets delivered, it may be a week or two out of date!

Devolved Accounting
This is where devolved accounting steps in. Departmental managers are already expected to update and manage their budgets, but they don’t update the finance system – that’s usually left to the finance department. But with devolved accounting, other departments are encouraged to update the system themselves.

Some people may feel intimated by accounting software, but there’s no need. There is accounting software available on the market that is designed specifically for devolved use. This means it’s easy and intuitive to use, so non-financial staff won’t be confused.

Giving other departments access to the software serves two purposes - not only can they update their finances themselves, but senior managers and directors can help themselves to the information they need.

Real-time reports, whenever and wherever you are!
Now this is where things get really clever! The biggest gain for those who adopt devolved accounting is the ability to quickly access all the information they need.

With all the departments entering their own finances into the finance system, all the data is accurate and up to date. Now all you need is a simple way to view this information.

Reporting dashboards can be set up and even customised depending on the level of the user. For example, the MD can view a dashboard with only the top-level information that he/she wants. So everything they need is available to them at a glance. For more in-depth reports, an automated service can be added to your accounting software that collects information on a weekly, monthly or quarterly basis. It then generates an automatic report and emails it direct to your inbox.

If you benefit from cloud accounting as well, then these dashboards could be seen from anywhere, on your laptop tablet, or your phone. This is especially useful if you have branches or offices based around the UK, meaning you need to travel frequently. Online accounting is already the norm with browser based accounting systems, but mobile accounting is the next step.

Hurrah! The finance team are free!
Things have moved on over the last few decades and as we’ve explained, people’s job roles are evolving as the world changes. By asking other departments to take charge of the smaller finance tasks, the finance department now have time spare to focus on more pressing issues like strategy and planning, enabling your business to be driven forward and to grow.

The world is changing, and so should businesses. By delegating appropriate tasks across the organisation, all departments could benefit, not just the finance team.
Like this article..? Rate it here:  Votes | Average: 1 out of 5  Votes | Average: 2 out of 5  Votes | Average: 3 out of 5  Votes | Average: 4 out of 5  Votes | Average: 5 out of 5     0 votes, average: out of 5    
About Author
Articles Stats
  Published Date - May 4 2013
  Total Views - 16
  Total Votes - 0
  Average Rating - 0
  Comments - 0
  Mr. Nate Rodnay
Accounting software from bluQube is a comprehensive finance & accounting software solution designed to assist your organisation solve every day financial business challenges in practical & simplified way. The solution for online accounting from bluQube comes with a range of support & value-added services including support, implementation, consultancy, disaster recovery, bespoke software development & more.
Particular Article
Author Article
  • Using Great Accounting Software to Create Quick and Accurate Finance Reports
  • [2013-05-17 ]
    OK, so it’s the end of the month, and your MD, CEO, Marketing Director, Sales Director and Finance Director are all after one thing – the finance report. Now if they all wanted the same report, with t Read More...
  • Having a Mobile Technology Strategy Matters
  • [2013-05-17 ]
    Did you know that (according to a recent survey) only 50% of businesses have the infrastructure in place to enable remote working of any kind? Read More...
  • Overview of Latest Features for IBM Ported Tools
  • [2013-05-17 ]
    IBM Ported Tools for z/OS is a program product to deliver applications and tools for z/OS platform and it is supported on z/OS 1.10 and above. Read More...
  • Mobile App development checklist to create new and noteworthy mobile apps
  • [2013-05-13 ]
    5 points to consider before you start the actual Mobile app development. Read More...
  • Mainframe SFTP – Overcome Inherent FTP Shortcomings
  • [2013-05-13 ]
    Interactive computing using the Time Sharing Option (TSO), Batch processing using the Job Entry System (JES) and controlling programs written in Job Control Language (JCL) and UNIX System Services. Read More...
  • Outlook 2010 Recovery Software Handling Recovery Outlook Project
  • [2013-05-04 ]
    The article unfolds many truths lead to causing serious damage to PST file in Outlook 2010. For the entire recovery of Outlook 2010, you can use Outlook 2010 recovery software. Read More...
  • Paperless, Online and Cloud Accounting – It’ll Do More than Reduce Your Carbon Footprint
  • [2013-05-04 ]
    Although paperless, online-based accounting will almost certainly shrink your carbon footprint, there are also other ways it can dramatically improve processes, save time and increase profits. Read More...
  • Microsoft PST Recovery Tool – Know What Gives Rise To Its Need
  • [2013-05-04 ]
    This segment lets you get familiar with one of the strongest and by far, amongst the severest causes of PST corruption that compels the need of Microsoft PST recovery software like Outlook Recovery. Read More...
  • What is Enterprise Extender?
  • [2013-05-04 ]
    IBM\'s Enterprise Extender Technology (EE) is a simple set of extensions to the existing High Performance Routing (HPR) technology used for encapsulating SNA traffic over IP networks. Read More...
  • Should Accounting Tasks Be Confined to The Finance Team?
  • [2013-05-04 ]
    Traditionally, departments within an organisation are confined by their day-to-day tasks. There were some great advantages to this, as everyone knew exactly who should be doing what. Read More...
  • Cloud Accounting Software - An Opportunity to Boost Productivity and Profit
  • [2013-04-15 ]
    By 2011, almost a third of the working population were relying on mobile communications to do their job, so imagine what it’s like now in 2013! Read More...
  • Load Balancers and Business Continuity
  • [2013-03-27 ]
    The competitive environment prevalent in the business world has provoked enterprise to expand globally. Read More...
  • Overcome Limitations of the Servers with Load Balancing
  • [2013-03-27 ]
    In today’s highly competitive business environment, ensuring business continuity is highly essential for the survival of any business enterprise. Read More...
  • The Way BYOD Impacts Security
  • [2013-03-27 ]
    Implementing the concept of “BYOD” i.e. bring your own device to work can often result in major cost-savings for organizations. Read More...
  • Accounting Software and Devolved Accounting
  • [2013-03-27 ]
    Here’s a quick guide to explain devolved accounting, and how it can help your finance team become more efficient and freed up to work on the more important strategic tasks. Read More...
      Submit Articles - Free Articles - Online Articles Submission  
      WebZine Articles ( is a registered trademark. All Rights Reserved. 2012