You need to use it to implement and respond to change. It is vital that I teach my colleagues how to use the information once it's produced. Gette suggests accounting professionals leave behind their role as isolated providers of checks and balances and instead use their knowledge to create a system that integrates all of the subsystems to meet the focus of the business model. The real problem with communicating accounting information to non-accountants is that when push comes to shove, they would rather be doing whatever it is they do. I always have to sit people down and force them to review the information.
Companies can streamline travel and expense reports using electronic systems and pre- coded forms.
In addition, controllers can urge employees to provide key financial information on purchase orders from the outset, institute the use of corporate charge cards for travel and smaller purchases and consider outsourcing freight payment processing. Controllers can integrate fixed assets into the general ledger. GL improvements can be made by capturing tax information when source documents are processed, adopting a standard chart of accounts for the entire company and reducing the monthly closing time. Companies can set up separate codes for projects at the outset. Originally published Jan. 25, 1999.