Accounting departments will always experience some level of attrition. Of course we would like everyone we hire to stay on forever, but that’s not realistic. While there are many ways to ease the transition, one of the most effective is to train all members of your team to keep their work well-documented.
There’s nothing worse than when somebody leaves a company abruptly and there are no notes or backup for any of their regular projects. This situation highlights the value of spending the extra time on notes that clarify your work. It is always easier to document your work when it’s fresh in your mind.
The accounting department will have frequent interactions with various outside entities, and most of those will be by phone. It’s amazing how much easier it is to remember conversations by taking notes not only about the issue at hand, but also about any emotions felt during the interaction. If the person on the other end of the line was frustrating, or perhaps they were more helpful than expected, make note of it. Sometimes hold music can be unusual enough to write about. Don’t worry that it may seem strange to others, if it helps your memory, write it.
For financial work papers, notes regarding unusual entries made during the month along with explanations, and references to additional backup are critical. They will be useful at year end, particularly if your financial statements are audited.
Take notes and reference assuming you will not be around to explain your work at a later time. Your work should be able to stand on its own. It shouldn’t take a committee to explain what is going on with your work papers.
It can be tempting to take shortcuts with the referencing, especially if it’s something that is prepared frequently. Never assume what you do is obvious. Think in terms of making your eventual successor’s job easier. Set a high standard they will want to uphold.
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