Financial Projects to Take Advantage of This Summer

by Andrew Chambers 08/23/2019

Summer might be coming to a close, but there is still plenty of time to get stuff done before it’s over. Summer is usually a time when work slows down, and you end up with extra time on your hands. This means that there should be plenty of time to manage some of those financial projects you may be procrastinating about.

Some of the things that you could be doing to make the best out of time that you have available are:

Reevaluate your budget process

Look at your historical data and analyze whether it is still efficient. You might find that you need a new approach. Crunch some numbers and see if there are any ways that you can make this process more efficient. Consider running an analysis of the current year’s budget to see if everything is happening as initially predicted and planned. Are there any things that you can do to rework it and make it better?

All the efforts that you put into this reevaluation can be a great benefit to you next year when trying to develop the new yearly budget.

Learn more about your current tools

With updates always happening and technology continually advancing, you could find the financial tool you are currently using isn’t being used to its full potential. Spend a few hours and get to know it. Follow along with tutorials and guides, look up any questions that you might have and see what features you’re missing out on.

By adding software retraining to your financial projects, you may improve the value that you are receiving from your software. You never know, you might discover something that could make your daily tasks more manageable.

Take on open items from last year’s audit

After an audit is completed, one of the most natural things to do is to go back to work and sigh a breath of relief. While this is perfectly okay, there could be some open items that still need addressing a few months or years down the road. By checking out last year’s audit report, you can spot anything that might need attention and compare it to the current year. Is your company falling into a deficit or keeping with a dangerous pattern? Finding these things out now can help you to correct them before it’s too late.

Using your extra time to review your financial projects not only helps you but also helps the company.

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