You're facing conflicts within your accounting team. How do you resolve discrepancies effectively?

To resolve conflicts within your accounting team effectively, start by identifying the source of the issue and gathering all relevant information. Facilitate open communication by arranging a meeting where everyone can express their views. Analyze the discrepancies by reviewing the accounting records to pinpoint any errors. Work together to brainstorm and evaluate solutions, then establish standard operating procedures and provide training to prevent future issues. Implement the agreed-upon solution and monitor its effectiveness. Promote a positive work environment by encouraging teamwork and equipping the team with conflict resolution skills.

Accounting teams often disagree, and things get worse just because of one thing, we don't figure out the real problem right away. We keep defending ourselves and blaming each other instead of fixing the real problem. As an assistant manager of accounts and finance in a listed company, I directed all team members to write down the perspective of every party involved whenever a discrepancy arose. Trust me, this worked every time as it makes it easy to identify the core issue, and assists in resolving the matter quickly.

Print in your mind that the accounting department, from their desks, just by analyzing the numbers, know your every move. At least this is true you acting as general manager of a hotel/resort. So, from this perspective, keep your numbers under control. You were hired to meet your financial targets.

If you ever need to make a decision that will make you spend above your budget, you need to justify and present your reason. At the end, you as the general manager, is you who is running the show assuming you are committed to the cause and to reach your goals.

At the end of the day it all dependes on how the company is run, i.e., if the ask you to reach your monthly budget or workj around your budget on a 12 month basis to reach it. So some months you may be over budget and others below budget.

When I faced this issue, As I was in the accounting department I encouraged open communication. I did this by organizing a meeting where everyone voiced their opinion and tried to reach a resolution rather than assigning blame. I explained the reasoning on behalf of the accounting team and provided supporting documentation to help other staff members understand the point of view from accounting department which built the understanding and resolved that conflict.

In my line of business, which is hospitality/hotel management, a budget is there as a spending and cost controlling guide. We sell experiences and we deal with real PEOPLE. So things may go the other way that will force you to spend more. I always tell the financial controller that we are not selling mixers, we are selling experiences and dealing with real life issues.

Just make sure that you close the year as close as possible to your budget. If not, as explained before, have all your justifications on hand.