Hire Freelance Chart of Accounts Experts
A chart of accounts is a financial organizational tool that gives a complete list of all accounts of an organization that are used for transactions. These accounts are broadly classified into balance sheet accounts and income statement accounts. They are further subclassified into assets, liabilities, operating or nonoperating revenues, and operating or nonoperating expenses. Accounts may also be classified on the basis of business functions, product lines, and company divisions. A chart of accounts usually provides the name of the account, an identification code, and a brief description of the account. The purpose of representing a company’s accounts in this way is to give an overview of transactions taking place in different functional areas of the company. In case of mismatch of accounts at the end of a financial year, a chart of accounts will help identify where a possible error has occurred. If you wish to hire chart of accounts experts for your workplace, you can connect with freelancers on the top online freelance marketplaces, like Guru.
What Is a Chart of Accounts (COA) and What Do COA Experts Do?
A COA serves as an important link in a company’s accounting system. It provides a simple way to add new accounts and delete old accounts from the company’s account list. It also helps in segregating income, expenditure, assets, and liabilities. This enables managers and accountants to quickly get an overview of a company’s financial status. When you hire chart of accounts expert for your company, they begin by understanding the extent of financial activities taking place in your workplace. After this, they study the company’s accounts and understand the financial reporting procedures of the company. Following this analysis, they help you develop a chart of your accounts such that it is relevant to your financial practices and needs.
If you are looking for online freelance services to help you build a chart of accounts for your company, you can check out some of the top freelance marketplaces, like Guru. Before you do so, you must ensure that the person has:
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A clear understanding of common financial terms used in a company’s financial records and accounting documents.
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Capability to analyze the company’s financial activities and provide suitable recommendations to make a chart of accounts most pertaining to the client’s requirements.
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Capability to empower the company’s employees to make use of the chart for updating the account list regularly.
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Several years of experience in creating charts of accounts for different clients.
Qualifications of COA Experts
A COA is a standard form of representation of a company’s accounts and it needs to be developed using best practices. Here are some of the qualifications you need to look for when hiring a COA expert:
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Professional education and training in business finance, business management, and accounting
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Familiarity with widely used COA development tools such as AvidXchange, Merchant Maverick, and NetSuite
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Prior experience in handling large amounts of financial data efficiently
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Extensive portfolio of several charts of accounts developed for companies of different sizes and functional areas
Benefits of Freelance COA Experts
Hire COA freelancers to get your work done and they can:
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Help you organize all accounts used in different departments of your organization in one location.
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Segregate your transactions based on your company’s accounts so that you can examine the transaction records of a particular account.
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Make updating account details easier and make this information available to all the concerned people easily.
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