#DiamondAcademy “Top Ten Accounting Errors to Avoid - #2 Wrong sorting of expenses”
Nard Elsman
Company Owner bij Diamond FMS / Owner and General director Elsman Group BV / President Elsman Leadsoft LLC
Cost accounting for enterprises is highly correlated with production technology and internal management system.
Accurate sorting of expenses by the bookkeeping department can help financial managers to control, regulate and manage expenses effectively. It is also important to understand that wrong sorting of expenses influence the financial data transparency and authenticity of profit.
#DiamondFinancialManagementSoftware imports data from bookkeeping system and helps to determine if sorting of the expenses is done correctly inside the bookkeeping system itself.
#DiamondFMS helps financial managers monitoring different types of expenses, plan and analyze financial data on every level. It allows to see the Difference between Forecast and Realization per each item of expense, for example, costs of purchase, operating expenses (costs of production, staff expenses, costs of furniture and fixtures, office expenses, transportation expenses, selling expenses, expenses for monitoring and control operations), etc.
By fine-tuning the conditions of your company’s management system and constantly planning its activities, you can find out how to optimize and sort expenses effectively.
It is a great possibility to manage all types of expenditures that affect profit margin of your company.
We help you to achieve better results with optimum efforts and time.
