Clarity Accounting Guidebook

Clarity Accounting Guidebook

Don't suffer from your accountants messing up your accounting again & again. Simply get the guidebook from Clarity!

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Clarity Account Guidebook is designed to help you create a detailed accounting guideline for your accounting firm in order to ensure the record keeping of revenues, costs and all other aspects are done accurately based on how your business works. It fixes the mis-alignment between you and your accounting firm by creating a comprehensive guideline for every item and saves you hundreds of hours of rework.

Why do I need an accounting guidebooks if I already have an accountant is responsible for accounting and compliance

Most founders treat accounting as a compliance activity and hence spend little or no time on this, shifting the responsibility to either an outsourced accountant or a junior resource within their team. While there is a compliance aspect to accounting, accounting is much more than JUST compliance. The financial data that you need - for MIS, Financial Projections, Financial Modelling, Investors Packs, Fund Raises, Data Room - all of it has dependence on the accounting or accounting system. The way you recognize revenue, how transaction and data flows between various tools and teams, the granularity and the account structure at which you need data is all extremely critical for you to build a data driven and strategic finance organization.

While the accountant – employee or outsourced – may be good accounting resources, they don’t have relevant industry expertise to set-up a framework to driving the function forward with a view to provide accurate data for decision making purposes.

Not having the right accounting framework is also the main reason for your business metrics not being aligned to your financial metrics. The accountants or the junior accounting resources don’t have the expertise and the insights on how some of these activities should be structured upfront to ensure you have access to accurate and timely information month-on-month.

An accounting guidebooks is expected to help your accountants with the framework that’s required to accurate accounting. The guidebook will be a working guide to your accountant on important aspects of accounting and the data required for accounting like revenue and cost accrual, data flow for booking transactions, granularity and accounting structure to be used, format of Financial Report, etc to ensure you have access to accurate and timely data for informed and data-driven decision making.

How does this help me and my business

A good accounting framework and structure means you have timely access to accurate information to make informed decisions. This accurate data serves as the foundation for creating robust MIS and financial plans, providing you with powerful tools for effective decision-making and planning. A solid accounting structure allows you to manage performance effectively by tracking financial metrics, identifying areas for improvement, and cost optimization. By harnessing the benefits of accurate financial information, you can build a business that is financially sound, sustainable, and well-prepared for future growth.

I don’t yet have a PMF, do I still need to do this

The sooner you set-up an accounting guide the better it is for you. It is much easier to set-up a framework early-on than having to build it from the scratch at a later stage. The guidebook can also help you being consistent, compliant, controlled and hence build financial prudence within the organization at a very early stage.

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