How to Make a Step-By-Step Account Plan


Having a chart of accounts is essential to successfully manage a company ; as well as dealing more efficiently with customers. There are different plans that can be created according to the type of company or business, there are different strategies that can only be promoted if they are properly applied. Below we will see some tips that are essential for the creation of this.

What are the characteristics of a chart of accounts?


The account plans that are estimated in the long term and have to have a starting point and an end point. This is done to avoid confusion in the actions that will be taken. For a plan to be more manageable, it must be decided by parties, facilitating the planning and monitoring of each step. This is how those responsible for executing these plans can communicate with each other in a better way and the plan will be executed efficiently

This includes all planned strategies as possible generators of success. These can be actions related to marketing, contracts with suppliers that are profitable, deals with distributors that are of benefit; or even economic strategies related to administration. Any well-planned strategy can be included in the plan as long as they are executed accurately.

Business strategies involve planning practices that help achieve goals using the least difficult and shortest routes as possible. The strategies are usually calculated thinking about how they can interpret the business, being that they help to speed up the process of development of the company.

This type of plan, however, can only include actions and strategies that may be under personal control and not those external factors. They are, in general, things that can be done or faced while you can face potential future risks . If your person is going to carry out a plan of this type, first identify what your goals are, assess what your pros and cons are, and also consider the risks you will encounter along the way.

Depending on the type of business being managed, it may be necessary to use analysis tools such as the most traditional SWOT and PEST . These help identify the strengths and weaknesses of an organization or company. By identifying these elements, you can proceed to plan a chart of accounts that really helps to take prudential actions.

Account plans are useful for making more convenient deals with clients, as it is known with certainty what the goals are and the specific strategies for this. When a client asks about their plans; It is good to show an optimized image, which leaves no doubt that you have made the best decision when doing business with a well-established company, which knows how to move in the business world.


What are the steps to create a chart of accounts?

What are the steps to create a chart of accounts?

Before creating one, it is important to analyze the needs that need to be met with higher priority. You should focus not only on your own needs but also on the needs of your customers. Therefore, a well-planned chart of accounts maintains a balance between these factors . It can only be carried successfully if all parties are taken into account. When designing a strategy, it is necessary to describe what the objectives are and the means to achieve them successfully.

This should not only focus on the objectives to achieve for sales. Also, in retention rates. Likewise, it is necessary to think about how best to organize all work processes . It is necessary to adopt a broader mentality taking into account external factors that are alien to one’s own will or business. Therefore, the following question must be asked: which circumstances or factors can influence the organization in a positive or negative way.

In addition, it turns out to be the best tool to visualize in the future; since they dictate what the steps will be and will be put into practice. Every certain period of time it is necessary to review the plan thinking about the possibility of adding or eliminating some business strategies, which may not adapt to the current situation of the company.

Each action included in the plan should be considered as a possible consequence that does not result in the expected manner. We must try to anticipate possible economic , legal, social changes or related to the acquisition of material goods that are necessary for the business. Nothing can be considered as stable. That is why the plan of the accounts must have a margin of flexibility before any unexpected circumstance.

Once the plan is finished, we must concentrate on achieving it; not before reviewing each step that will allow you to receive suggestions. All business plans must be kept updated according to the needs and businesses that are being processed at the time. That is to say, one of the great challenges of these plans is that they can be executed . Many times very complex plans are made, the realization of which is impossible.

A plan can also include the opinions and advice of the work team . It happens that the more ideas can benefit the plan, the better the collaboration between all the parties. Only in this way will the success of the organization be assured. An important fact is not only to show in the plan those parts of trust, but also the weak points. The plan must observe all the variables, the issues to solve, the scolios that can happen. A plan must be real, not utopian, or evade the negative.

In some cases, the planning of accounts may require the help of the same clients. This is an excellent way to stimulate communication and look for new creative ways to increase sales or production. It is true that we must focus on financial benefits; But strategies must also think about how to save money, perform services, spend more efficiently and improve or maintain quality.

During the process of completing the chart of accounts it is important to understand where the company is located, how the business is conducted, if the previous strategies have worked, analyze the performance of the company and the results obtained in the last accounting period.