Finance Department Workflows & Flowcharts

Finance Department Business Process Definitions & Templates

  • Workflow Template / Finance / Accounts Payable

    Accounts Payable (End-to-End)
    Accounts Payable is responsible for keeping the lights on and ensuring that all company vendors are paid in full and on time. They process invoices, cut checks and manage relationships with creditors. This process involves the reception, processing and payment of all incoming vendor/supplier invoices, from initial arrival to final payment.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Account Reconciliation
    Account Reconciliation is the process of using two (or more) sets of records to ensure that figures within an account balance are accurate and in agreement (this often requires adjusting the recorded account balance for items apprearing in payment statements that have not been recorded). This allows companys to check for fraud and prevent balance sheet errors. The process includes exception reporting, contract examination, account information reconciliation and payment requests.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Budgeting & Forecasting

    Budgeting, Forecasting & Reporting
    Budgeting, Forecasting & Reporting is the process of producing and assessing a company's budget by calculating the variance between planned and actual costs while also forecasting future revenue and expenditures so as to make it easier to plan and prioritize spending. This process involves the creation and administration of budgets across lines of business and functional units as well as the forecasting of future income and expenditures.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Controller Function (Control Unit)
    The Controller function (Control Unit) process establishes accounting and financial procedures, makes sure they are executed correctly and ensures that the company's day-to-day transactions are allocated and documented appropriately. The process includes the initial transmission of data by the product group/area, the resulting analysis and the approval/denial of the transaction.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Treasury

    Corporate Treasury Management
    The Corporate Treasury Management process focuses on managing fixed (usually involves real estate) and liquid assets accross lines of business and functional units. The process includes transactional data reconciliation, matching and verification, ledger adjustments, and cash balance determinations.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Cost Allocation
    The Cost Allocation process analyzes and reports on company fund and expense allocation across lines of business and functional units. The process includes data gathering, allocation-related journal entry reconciliation and posting, journal entry journal entry checks and manual adjustments.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounts Receivable

    Credit & Collections
    Credit & Collections is a process involving the back office processes of new customer applications, credit checking, payment and collections performed by the Credit Department. The process includes payment submission and matching, unmatched item journal entry, customer payment and credit checks and payment collection from customers who have not yet paid.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Expense Management

    Expense Processing
    Expense processing handles invoices and expense reports from employees as well as subsequent payments/reimbursements. Essentially, this process ensures that the expenses reported by employees are correct before payment is issued. The process includes accounting information entry, invoice completeness review and resolution (if necessary), invoice sign offs and Compliance invoice review.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Tax

    Federal Tax Returns (Corporate)
    Federal Tax Returns is a process that uses various tax forms to report income and file taxes with tax authorities such as the Internal Revenue Service (IRS), for those in the U.S. Tax returns must be filed every year and allows taxpayers to calcualte their tax liability, remit payments or request refunds. The process includes data reconciliation, analysis, approval and return filing for yearly corporate tax returns.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Financial Close & Reporting
    Financial Close & Reporting is the process of closing the books (i.e., the general ledger) at the end of an accounting period and producing internal (for management, business units, etc.) and external reports (for regulatory authorities, etc.) reports summarizing financial performance and trends. This process involves data collection, data scrubbing, reconciliation, validation, report generation and report review.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Fixed Assets Accounting
    Fixed Assets Accounting is the process of acquiring, valuating and recording of assets that cannot easily be converted to cash (buildings, real estate, equipment, furniture, etc.). Fixed assets are subject to periodic depreciation (for tangible assets), amortization (for intangible assets), impairment write-downs (if the value of an asset declines below its net book value) and disposition (once assets are disposed of). This process involves asset acquisition, depreciation, reporting and tax-related reconciliation.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounts Payable

    New Contract Setup
    New Contract Setup is a process that focuses on the request, setup and documentation of new vendor contracts specific to a certain project. The process includes creating cost estimates as well as new contract inspection, setup and documentation.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Payroll

    Off-Cycle Check & Wage Garnishment
    Off-Cycle Check & Wage Garnishment is a process involving payments to employees issued outside of the normal pay cycle (usually biweekly). Off-cycle payroll checks are usually requested when an approved time/labor record is not submitted by the required deadlines, if the employee requests payment after an involuntary termination, if there was a departmental or administrative error in processing the payment or if it is required by regulation or a bargaining unit contract. This process includes the setup of automated off-cycle payroll, the reception of garnishment notifications and the subsequent setup of garnishment payments by the Payroll Department.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Payroll, Tax

    Payroll Tax
    The payroll tax is a form of taxation imposed on employers or employees, uaually calculated as a percentage of the salaries that employers pay their staff. Payroll taxes usually fall into two categories: deductions from an employee's wages, and taxes paid by the employer based on the employee's wages. This process includes payroll tax related analysis and administration for employee tax inquiries, tax jurisdictions, stock options, employee relocation and acquisition support.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Accounting & Reporting

    Plant Accounting
    Plant Accounting is a process focused on the inspection of new work orders (involves the creation, review, submission and project account setup) within production plants and the subsequent tracking of expenses and completion dates by the Plant Accounting Group. This process includes work order submissions, reconciliation of completion dates and expenses, and the transfer of work in progress to the plant.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Tax

    Property Tax (Corporate)
    The property tax process focuses on tax assessed on real estate (usually based on the value of the property, including the land, owned and is often assessed by local or municipal governments). This process involves the data collection, reconciliation, analysis, approval and preparation for a company's yearly property tax payment.
    File Formats Available: PDF, Visio, PowerPoint | See More >
  • Workflow Template / Finance / Tax

    Sales & Usage Tax (Corporate)
    Sales & Usage Tax is the process of taxation involving in-state transactions (usually imposed on the sales of tangible personal property and selected services - i.e., retail sales; it is typically collected by the seller from the purchaser and remitted to the state) and transactions made outside of state lines (imposed on transactions that would have been subject to the sales tax if both the buyer and the seller were located in the same state). This process involves the data collection, reconciliation, analysis and approval of the preparations made for yearly sales and usage tax payments.
    File Formats Available: PDF, Visio, PowerPoint | See More >

Looking for a custom solution?

OpsDog’s remote analytical team can provide custom, high quality data, reports and analysis for your organization with low cost and risk. Custom solutions include:

Questions?Call: 844-650-2888Email: info@opsdog.com

Let's find a solution that works for you. Fill out the form below and an OpsDog team member will contact you shortly to learn more about your needs...

Need help?
Call: 844-650-2888
Email: info@opsdog.com
TOTAL:
Tax will be calculated in the purchase step.
Continue to Payment
Please login to continue your purchase
Need help?
Call: 844-650-2888
Email: info@opsdog.com
Need help?
Call: 844-650-2888
Email: info@opsdog.com
Back to Top