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What is the Accounting Cycle? How to Manage Workflows in Accounting

accounting cycleHere at Process Street, we’re always talking about the importance of workflows.

Workflows help you define what work you do and the order in which you do it.

According to the Powering Productivity report from Planview, poor processes and workflows are the number 1 cause of inefficiencies in organizations. Plus, the Chaos Theory report from Projectplace revealed project managers lost 2 hours 45 minutes each week due to poor workflows.

When you document your workflows and improve them, you optimize your work. This results in better work done more quickly.

It’s one of the simplest ways to improve the performance of your own work, or that of an organization. From basic workflows with only a couple of steps to company wide workflows with multiple stakeholders and variables.

This principle remains true in countless use cases and industries but is most powerful in areas where work benefits from standardized practices.

This brings us to an area of business where standardization is a true sign of quality: accounting.

Effective accounting practices require a strong understanding of how information flows throughout your business.

In this article, we’re going to look at:

  • What is the accounting cycle?
  • What is a workflow?
  • How to construct processes for your accounting activities
  • 11 accounting processes you can try today

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Task Management Techniques: 7 Lists To Get Shit Done On Time

Task Management Techniques

Maybe you’re the sort of person who sits down at their desk for 8 hours solid and hammers out as much as possible.

Maybe you use the Pomodoro method or your own task management techniques.

I don’t know what sort of person I am yet.

I used to give it no thought — wake up, lob a coffee down my throat, sit down and start typing.

Lately, my tasks are harder to define and I find myself having trouble with time management and prioritizing.

Right now I’m using Pomello, a Pomodoro timer that lives in Trello and times my work on each card. Click here to get it.

Pomello Task Management

Tomorrow I’ll probably be sick of it and defiantly hammering on the keyboard until it’s time to sleep…

In my seemingly neverending quest to get shit done, I’ve seen a ton of strange methods and lists. And, let me tell you, working at Process Street — a task management system for businesses — I’m making myself practice what I preach.

Here are some of the task management techniques I’ve come across.
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Kaizen: How to Deploy Continuous Improvement to Rocket Your Success

kaizenWe always seem to be caught up in a never-ending mission to make our businesses better.

You have to ride out crises, fight through external problems, and still improve your performance week on week, quarter on quarter, year on year.

So how do we approach this improvement to get the most from it?

The key is about making improvement part of the daily process.

This approach falls under the umbrella of continuous improvement; what Toyota call Kaizen.

This is the art of taking a million steps forward. Compounding every success and safeguarding against every failure.

In this Process Street article, we’ll look at:

  • Why Kaizen is important
  • What are the other Toyota Production System concepts?
  • Things to consider when implementing Kaizen.
  • How Samsung use Kaizen selectively to optimize production

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30 Productivity Quotes I Wish I Knew 10 Years Ago

productivity quotes - new header

Motivation is a massive factor to your productivity, but you can’t stay motivated without inspiration.

Hell, success comes from surrounding yourself with people who are better than you, so why not learn from the top of the heap?

To help, we at Process Street have put together 30 productivity quotes from the best of the best.

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How to Make Software Rollout Easier for You and Your Team

The following is a guest post from Ryan Gould, Vice President of Strategy and Marketing Services at Elevation Marketing. An expert search, social and content marketer, Ryan leads Elevation Marketing’s digital strategy department, helping brands achieve their business goals, such as improving sales and market share, by developing integrated marketing strategies distinguished by research, storytelling, engagement and conversion.

software rollout

Without software, you’d be hand-writing purchase orders, using a Rolodex for a CRM, and doing your newsletters via smoke signal.

Alright, maybe that last one is a little far-fetched, but there’s no denying that in the business world, technology is absolutely necessary and enables amazing things.

…But not everyone on your team gets enthusiastic about the prospect of learning a new tool. Even if that tool will help them improve productivity, do a better job, and escape the white-collar equivalent of hard manual labor.

IBM research on the barriers to software adoption (Source)

Your goal when rolling out software is always the same: to help your business improve operations, boost efficiency, and enable sales. These days that means staying up to date on technological trends as well.

Deciding which tool is right for you will always hinge on fundamentals, like whether it can automate your vendor payments, purchase orders, employee onboarding, lead management, etc. However, there are other considerations, such as whether your solution integrates with cloud software and is responsive on mobile devices.

But, even after you’ve selected the solution perfect for your operation and your employees – after all the sales demos, comparison docs, and review reading – you’ll find it’s that the human element that trips you up.

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Help Scout vs. Zendesk vs. Freshdesk vs. Groove: The Ultimate Help Desk Showdown

Vinay Patankar September 4, 2018

Help Desk Software

A support rep’s life becomes much easier when their help desk seamlessly fits into their workflow. Tools are simple to use. Tasks get accomplished faster. A personalized help desk lets your rep do things their way, so they can solve human problems instead of figuring out software.

The more you customize your help desk, the more useful it is to your team. While all help desks have customization options, not all help desks can be personalized to the same extent.

To spare you the trouble of perusing lengthy FAQs and comparing free trials, we took a deep dive into the features of four popular software— Freshdesk, Help Scout, Zendesk, and Groove—to decide the best help desk of them all. Here’s what we found.

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What I Learned Evolving My Startup’s Team Structure (Featuring Lego)

The following is a guest post from Brett Farmiloe. Brett is the CEO of digital marketing company, Markitors, and advisor to career resource, Organizational Leadership Degrees. He is a regular contributor to Huffington Post and Forbes, and also enjoys tending his backyard vegetable patch.

startup team structure

Workplace structure.

What popped into your mind after reading those words? A large office building with hundreds of employees and multiple layers of management? Something gargantuan and sluggish?

That is certainly how I pictured the classic workplace structure, especially before starting my own company. Now I truly understand that all businesses, no matter how small, have a set structure of who reports to who – and for good reason. While it may sound unnecessarily methodical and plodding, it adds an element of organization to your organization.

Something I learned through years of trial and error was that organizational structures are a fluid beast – they need to evolve and grow as your company does.

Below are some of my tips for ensuring the success and longevity of your business, with lessons from Lego, Zappos, and my own company.

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What is a Customer Support Engineer? And How to Know if You Need One

customer support engineerThere are so many layers to a modern support team.

Some companies will have countless reps working hard each day to champion the customer and empower them to do what they need to do.

On top of that, you might have members of the support team who double up as part of the product design team; looking for niche use cases or areas where customers don’t find the product intuitive.

Support teams may even have specialized roles which look to help customers achieve certain business goals, rather than just guidance with the software.

In this Process Street article, we’re going to look at one of the unsung specialists of the modern age: the customer support engineer.

With the rise of SaaS products particularly, the customer support engineer has become a meeting point for customers, sales, design, and development.

A Jack or Jill of all trades!

We’re going to explore exactly what a customer support engineer is, what they do, and when or why you might need one!

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Polyphasic Sleep: When Productivity Becomes Madness

polyphasic sleep

It sounds like a miracle pill or silver bullet. Polyphasic sleep. How to rest for two hours a day with no ill effects.

Imagine everything you could get done with that free time! No more rushing for work deadlines, wishing you could read that book that’s been haunting your bag for a year, or trying to find time to just relax.

Unfortunately, as with most miracle solutions, polyphasic sleep has major associated health risks and little in the way of proven benefits. Most of its good press is down to urban myths and overestimating the positives.

We don’t sleep just for the hell of it – humans need solid rest to process the information gained in waking hours and properly order memories. Unfortunately, the idea of periodically napping throughout the day to replace regular sleep is consistently brought up in productivity discussions.

gustav graves dream machine

An hour on the dream machine keeps me sane.” – Gustav Graves, a literal James Bond villain, talking about his sleep schedule and glowing light mask… thing

The idea is nothing if not persistent, however, and so below we’ll dive into the theory behind polyphasic sleep, the alternative sleeping schedules you can try, and what the best way to get more out of your day is.

Let’s get started.

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The 31 Best Marketing Books to Understand and Reach Your Customers

Adam Henshall August 21, 2018

best marketing booksMarketing is such a vital part of how we do business. So many of us do marketing-related roles, yet how many of us have really read up on the fundamentals? Not enough.

That’s why we’re going to look at some texts from across the marketing field which can help sure up our knowledge.

From advertising to PR, SEO to content, it’s all related.

As a follow up to our wonderfully received article cataloguing the 45 best sales books, we’ve decided to break down the world of marketing literature for you too!

We have some old classics like Scientific Advertising, some newer classics like Blue Ocean Strategy, and a number of this year’s must reads!

Some of these books will put you inside the mind of the customer. Others will transport you into the realm of strategy. Many of the books listed will go super specific into technical approaches.

There’s something for everyone!

Check out our Process Street list of the 31 best marketing books below!

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