Finance KPIs List

Finance KPIs evaluates the key workings of the finance department like budgetary and forecasting, payroll, tax, budgeting, and financial planning. These valuable KPIs help you track and determine the profitability and fiscal health of your business.

Accounts Payable

The Accounts Payable (A/P) office is in charge of ensuring full and prompt payment to utility companies and company vendors. They handle invoices, cut checks, and handle relationships with creditors.

Related: Accounts Payable Analyst, Accounts Payable Clerk, Accounts Payable Specialist

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  • Invoices Processed per Accounts Payable Employee – The total number of invoices handled over a specific term divided by the total number of accounts payable staff members
  • Cycle Time: Payment Processing – Average number of business days needed to accomplish an invoice from when the invoice is received to when it is validated and paid
  • Non-PO Payments per Accounts Payable Employee – The number of non-purchase order (PO) invoice payments carried out over a specific term divided by the overall number of accounts payable staff
  • PO Payments per Accounts Payable Employee – The number of purchase order invoice payments accomplished over a specific term divided by the total number of accounts payable staff
  • Percentage of Invoices Received on Paper – Total percentage of payments with purchase order invoices compared to the overall number of payments handled by the accounts payable division
  • Percentage of Payments with Purchase Orders – Total percentage of payment with purchase order invoices compared to the overall number of payments handled by the accounts payable division
  • Percentage of Invoices Received as PDFs – Total percentage of invoices received in PDF compared to the total number of invoiced received
  • Cycle time: payment processing – Average number of business days required to process an invoice from when the invoice is received to when it is approved and paid.
  • Percentage of Payments with Purchase Orders – Total percentage of payment with purchase order invoices compared to the overall number of payments handled by the accounts payable division
  • Percentage of Invoices Received as PDFs – Total percentage of invoices received in PDF compared to the total number of invoiced received
  • Unit Cost: Non-PO Invoice – The total expenditure in processing non-purchase order (PO) invoiced divided by the total number of non-purchase order invoices accomplished over a specific term
  • Unit Cost: PO Invoice – The total expenditure in processing purchase order (PO) invoices divided by the total number of purchase order invoices handled over a specific term
  • Percentage of Vendor Checks Reissued – The percentage of vendor payments that have to be reissued divided by the total number of vendor payments released over the similar term
  • Total Volume: Invoices Processed – The total number of invoices handled by the accounts payable team over a specific term
  • Vendor Invoice Error Rate – The percentage of vendor invoices containing errors submitted to Accounts Payable compared to the overall number of vendor invoices
  • Vendor Payment Error Rate – The percentage of vendor payments containing errors compared to the total number of vendor payments processed
  • Payment Error Rate – The percentage of outgoing payments that were not finalized because of a processing failure divided by the total number of transaction over a specific term
  • Accounts Payable Turnover – The total expenditure on company purchases over a specific term divided by the average actual accounts payable balance owed to dealers/suppliers at the end of a chosen accounting period, as a ratio
  • Invoices Processed per Accounts Payable Employee – The total number of invoices handles over a specific term divided by the overall number of accounts payable staff
  • Cycle Time: Payment Processing – Average number of business days needed to accomplish an invoice from when the invoice is received to when it is validated and paid
  • Unit Cost: Invoice – Total expenses associated with invoice processing accumulated by the Accounts Payable Division divided by the overall number of Accounts Payable invoices handled over a specific term
  • Non-PO Payments per Accounts Payable Employee – The number of non-purchase order (PO) invoice payments carried out over a specific term divided by the overall number of accounts payable staff
  • PO Payments per Accounts Payable Employee – The number of purchase order invoice payments accomplished over a specific term divided by the total number of accounts payable staff
  • Percentage of Invoices Received on Paper – Total percentage of invoices received on paper compared to the total number of invoices accepted
  • Percentage of Payments with Purchase Orders – Total percentage of payments with purchase order invoices compared to the overall number of payments handled by the accounts payable division
  • Percentage of Invoices Received as PDFs – Total percentage of invoices received in PDF compared to the total number of invoiced received
  • Unit Cost: Non-PO Invoice – The total expenditure in processing non-purchase order (PO) invoices divided by the total number of non-purchase order invoices accomplished over a specific term
  • Unit Cost: PO Invoice – The total expenditure in processing non-purchase order (PO) invoiced divided by the total number of non-purchase order invoices accomplished over a specific term
  • Percentage of Vendor Checks Reissued – The percentage of vendor payments that have to be reissued divided by the total number of vendor payments released over the similar term
  • Total Volume: Invoices Processed – Total number of invoices handled by the Accounts Payable Team over a specific term
  • Vendor Invoice Error Rate – The percentage of vendor invoices containing errors submitted to Accounts Payable compared to the overall number of vendor invoices
  • Vendor Payment Error Rate – The percentage of vendor payments containing errors compared to the total number of vendor payments handled
  • Payment Error Rate – The percentage of outbound payments that were not finalized because of a processing failure compared to the total number of transactions over a specific term
  • Accounts Payable Turnover – The total expenditure on company purchases over a specific term divided by the average actual accounts payable balance owed to dealers/suppliers at the end of a chosen accounting period, as a ratio
  • A/P Outsourcing Rate – The percentage of firms that contract out specific accounts payable tasks compared to the number of firms surveyed
  • Accounts Payable Transactions per Employee – The total number of transactions handled by the Accounts Payable office over a specific term divided by the total number of Accounts Payable staff
  • Percentage of Electronic Invoices – Percentage of electronic invoices handled compared to the total number of invoices handled over a specific term
  • Accounts Payable Expense as a Percentage of Total Revenue – Total cost accumulated by the Accounts Payable offices over a specific term divided by the total profit acquired by the firm
  • Unit Cost: Accounts Payable Transaction – Total transaction-related expense incurred by the Accounts Payable Division divided by the total number of Accounts Payable transactions handled over a specific term
  • Accounts Payable Employees per Billion Dollars of Revenue – The total number of accounts payable staff divided by every billion dollars of profit
  • Total Volume: Accounts Payable Transactions – Number of transactions handled by the Accounts Payable office over a specific term
  • Unit Cost: Rushed Check – Total amount of rushed checks divided by the total number of checks rushed over a specific term
  • Total Expense: Accounts Payable – The total expenditure incurred by the Accounts Payable Division over a specific term including salaries, benefits, technology, utilities, occupancy and other overhead expenses.
  • Total Volume: Erroneous Payments Recovered – The total amount of inaccurate payments that are recouped through a recovery auditing firm
  • Percentage of Duplicate Payments – Percentage of invoices that are paid two times over a specific term compared to the number of invoices paid over the similar term
  • Accounts Payable Headcount Ratio – The number of firm-wide FTEs divided by the overall number of Accounts Payable staff

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Controller Group (Accounting & Reporting)

The Controller Group is tasked to keep the company’s books and make sure that all business deals are well-documented and managed.

Related: Bookkeeper, Certified Public Accountant (CPA, Staff Accountant, Accounting Analyst, Accountant

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  • Cycle Time: Financial Close and Reporting – The average number of days needed to close the books and hand over the accomplished financial reports to management and regulatory executives at the end of the accounting term from the time the data needed to close the books is accumulated until the management and regulatory executives get the financial reports
  • Percentage of General Ledger Accounts Reconciled During Close – The percentage of General Ledger accounts that are adjusted during the financial close process compared to the total number of General Ledger accounts
  • Staff Work Hours to Close – The total number of non-managerial staff work hours needed to accomplish the financial close process and hand over accomplished financial reports to management and regulatory executives at the culmination of the accounting period
  • Journal Entry Error Rate – The total number of journal entries that contain errors over a given period of time divided by the total number of accounting journal entries, as a percentage.
  • Financial Close Activity Breakdown: Data Scrubbing & Reconciliation – The total number of days during the financial close process devoted to data scrubbing and reconciliation divided by the total number of days expended by the financial close process as a percentage.
  • Financial Close Activity Breakdown: Data Gathering – The number of days during the financial close process divided by the total number of days expended in the financial close process.
  • Financial Close Activity Breakdown: Report Construction & Development – The total number of days during the financial close process devoted to report construction and development divided by the total number of days expended by the financial close process, as a percentage.
  • Financial Close Activity Breakdown: Financial Analysis & Advice to Business Units – The total number of days during the financial close process devoted to financial analysis and advice to business units divided by the total number of days expended by the financial close process, as a percentage.
  • Financial Close Process Expense as a Percentage of Total Finance Expense – Total expense incurred during the financial close process divided by the total Finance Team expense over the same time period, as a percentage.
  • Financial Close Process Expense as Percentage of Revenue – Total expense incurred during the financial close process divided by the total revenue generated by the company, as a percentage.
  • Inter-Company Accounting Process Expense as a Percentage of Revenue – Total expense incurred by the inter-company accounting process over a given time period divided by the total revenue generated by the company, as a percentage.
  • Total Accounting Process Expense as a Percentage of Revenue – Total accounting process-related expense (includes general, fixed asset and inter-company accounting expense) incurred by the Finance Team divided by the total revenue generated by the company, as a percentage.
  • Total Accounting Employees Per Billion Dollars of Revenue – The total number of Accounting employees (includes general, fixed asset and inter-company accounting employees) divided by each billion (USD) dollars of revenue.
  • Finance Report Error Rate – The number of financial reports that contain errors divided by the total number of financial reports produced over a given period of time, as a percentage.
  • General Accounting Process Expense as a Percentage of Revenue – Total general accounting process-related expense incurred by the Finance Team divided by the total revenue generated by the company, as a percentage.
  • General Accounting Employees per Billion Dollars of Revenue – Total number of General Accounting employees divided by each billion dollars (USD) of revenue.
  • Number of Active General Ledger Accounts – The total number of active accounts within the company’s general ledger.
  • Inter-Company Employees per Billion Dollars of Revenue – The total number of Inter-Company employees divided by every billion dollars (USD) of revenue.
  • Manual Journal Entries Per Employee – The total amount of journal entries manually entered over a certain period of time divided by the total number of company-wide employees.
  • Percentage of Automatic Journal Entries – Total number of automatic journal entries (journal entries created through finance computer systems) divided by the total number of journal entries created over a certain period of time, as a percentage.
  • Total Expense: Financial Reporting – The total financial reporting-related expenses incurred by the Financial Team over a given time period.
  • Percentage of Report Pricing Analysis – Number of reports that receive formal pricing analysis over a certain period of time divided by the total number of reports produced over the same period of time, as a percentage.
  • General Accounting Expense Per Employee – Total general accounting-related expense incurred by the Finance Team divided by the total number of company-wide employees.
  • Percentage of Financial Close Data Submitted Electronically – The number of data sources used in financial close that were submitted electronically (database dump, export, or email submission) divided by the total number of data sources submitted, as a percentage.
  • Percentage of Late Report Submissions – Number of late report submissions over a certain time period divided by the total number of report submissions, as a percentage.
  • Total Volume: Journal Entries – The number of journal entries prepared by company accountants over a certain time period.
  • Chargeback Forecasting Frequency – The number of times with which chargeback calculations are conducted within a certain period of time.
  • Accounting Quality Control Headcount Ratio – Number of full-time equivalent (FTE) employees directly involved in the accounting quality control function divided by the total number of company-wide employees.

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Treasury

The Treasury team, also called Cash Management, handles all of the organization’s properties to boost liquidity and minimize liability.

Related: Treasurer, Treasury Analyst, Treasury Specialist, Treasury Operations Analyst

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  • Cycle Time: Cash Position Determination – The average number of hours needed to compute the amount of cash at hand within the firm’s books, from the moment the computation starts up to the time liquidity is calculated
  • Cycle Time: Bank Reconciliation – The average number of hours needed to adjust one account, from the instance reconciliation starts up to the time the account records are reconciled
  • Treasury FTEs per Billion Dollars of Revenue – The overall number of Treasury FTES divided by every billion dollars (USD) of profit
  • Cycle Time: Discrepancy Discovered/Resolved – The typical number of days needed to settle a bank account error, from the time the irregularity is found out during a bank account reconciliation up to the time the error is resolved
  • Assets Supported per Finance Employee – The total dollar value of the company’s properties divided by the number of Finance staff employed by the company
  • Fixed Asset FTEs per Billion Dollars of Revenue – The total number of fixed asset accounting staff divided by every billion dollars (USD) of profit
  • Fixed Asset Accounting Process Expense as a Percentage of Revenue – The percentage of total expenditure accumulated by the Finance Division that is related to the accounting process compared to the total profit gained by the firm
  • Percentage of Transaction Corrections – The percentage of transactions that are inaccurately recorded into the bank reconciliation system as a result of inaccurate cash movement ticket, human error, and so on compared to the overall number of transactions entered into the bank reconciliation system over the similar term
  • Total Volume: Trade – Number of trades carried out over a stated term
  • Total Expense: Reconciliation Systems – The total expenditure acquired by offering electronic bank reconciliation services over a stated term
  • Cycle Time: Cash Flow Between Accounts – The average number of days needed to transfer cash between accounts, from the moment the needed information is accumulated up to the time the cash is transferred.
  • Percentage of Annual Bad Debt Write Off – The percentage of overall sales that are written off compared to the number of overall sales generated over the similar term
  • Number of Exception Line Items – Number of line items in the non-conformity reports
  • Bank Reconciliations per Employee – The percentage of accounts and transactions settled over a stated term compared to the number of bank reconciliation staff members
  • Number of Trade Settlement Issues – Total number of trade breaks as a result of inaccurate routing, erroneous instructions, denied transactions, and so on over a specific term
  • Expense per Treasury Employee – The overall expenditure related to the treasury accumulated by the company divided by the overall number of Treasury Division staff.
  • Total Expense: Treasury Outsourcing – The overall expenditure related to outsourcing accumulated by the Treasury Division that over a stated term
  • Percentage of Unresolved Cash-Related Research Inquiries – The percentage of unsettled inquiries related to cash over a specific term compared to the overall number of cash-related queries accepted over the similar term
  • Total Headcount: Treasury – The total number of Treasury Office staff employed by the firm
  • Cycle Time: Actuarial Response – The typical number of days needed to answer to an actuarial request, from the instance the request is accepted up to the time feedback is delivered
  • Percentage of Account Reconciliations – The percentage of accounts reconciled over a specific term compared to the total number of accounts
  • Percentage of Cash-Related Research Inquiries – The percentage of research queries related to cash carried out over a specific term compared to the overall number of queries over the similar term.
  • Bank Reconciliation Frequency – The typical amount of time that transpired between formal bank reconciliations
  • Percentage of Non-Trade Transactions – The percentage of transaction related to the receipt principal or interest over a specific term compared to the overall number of transactions over the similar term
  • Total Expense: Treasury – Total operating costs accumulated by the Treasury Office over a stated term
  • Percentage of Uncompleted Foreign Currency Transactions – The percentage of unfulfilled foreign currency transactions conducted compared to the overall number of foreign currency deals taken up over the similar term

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Internal Audit & Compliance

  • Audit and Compliance Headcount Ratio – The number of firm-wide FTEs divided by the overall number of Audit and Compliance staff members
  • Audit and Compliance Expense per Employee – The total expenditure accumulated by the Audit and Compliance Office divided by the overall number of firm-wide employees

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  • Audit and Compliance Vendor/Consulting Expense as a Percentage of Audit and Compliance Expense – The percentage expenditure related to vendor/consulting accumulated by the Audit and Compliance Office compared to the overall Audit and Compliance expenditure over the similar term
  • Audit and Compliance Occupancy Expense as a Percentage of Audit and Compliance Expense – The percentage of expenditure related to occupancy (rent, property tax, utilities) accumulated by the Audit and Compliance office compared to the overall Audit and Compliance expenditure over the similar term
  • Total Volume: Audit Reports – Number of audit reports submitted over a similar term
  • Cost Savings due to Audit Findings – Amount of cost savings (in dollars) as a result of audit conclusions and recommendations
  • Unit Cost: Audit – The total cost per audit divided by the overall number of audits conducted over a specific term
  • Total Volume: Audits – Number of official audits accomplished over a specific term
  • Frequency of Internal Audits – The average number of instances internal audits (grouped according to audit type: financial, environmental, technical) are conducted over a specific term
  • Cycle Time: Internal Audit – The average number of days needed to conduct a complete internal audit, from the instant the internal audit starts up to the time the audit reports are generated and submitted to management and stakeholders
  • Audit Report Error/Omission Rate – The percentage of audit reports that are accomplished and then reconciled as a result of successive recognition of inaccuracies and irregularities compared to the overall number of accomplished audit reports
  • Percentage of Certified Audit Employees – The percentage of Audit staff that are formally trained and have valid certificates compared to the overall number of Audit staff employed by the firm over the similar term
  • Total Headcount: Internal Audit – The overall number of Internal Audit staff employed by the company
  • Total Expense: Internal Audit – The total expenditure accumulated by the Internal Audit Team over a stated term

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Accounts Receivable

The Accounts Receivable or A/R office collects payments from clients. Some of these customers could be eligible for credit extension.

Related: Billing Specialist, Accounts Receivable Clerk, Accounts Receivable Analyst

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  • Average Days in Accounts Receivable (A/R) – The average number of days needed for clients to pay the firm, from the instant the invoice is received by the client up to the moment the client issues full payment
  • Cycle Time: Sales Outstanding – The average number of days needed to handle a sale from the moment the sale occurs until the payment is accepted
  • Customer Accounts per Collections Employee – The total number of customer accounts handled by the Collections office divided but the overall number of staff members employed under the Collections office (including supervisory and support staff as well as collections representatives and managers) over the similar term
  • Unit Cost: Non-PO Invoice – The total expenses incurred in processing non-purchase order (PO) invoices divided by the total number of non-purchase order invoices handled over a specific term
  • Unit Cost: PO Invoice – The total expenditure in the processing purchase order (PO) invoices divided by the total number of purchase order invoices handled over a specific term
  • Accounts Receivables Beyond 60 Days – The total number of accounts receivable that are overdue for 60 days, as percentage
  • Total Volume: Checks Processed – The total number of checks handled by the Accounts Receivable office over a stated term (monthly/quarterly/yearly)
  • Late Statement Rate – The percentage of account statements that were accepted elated by clients compared to the overall number of statements delivered over a stated term
  • Accounts Receivable Turnover – The ratio of the total amount collected from the firm’s clients over a specific term to the average actual accounts receivable balanced owed to the firm from clients at the end of chosen accounting term
  • Cycle Time: Cash Conversion – The average number of days needed to turn merchandise to cash from sale, from the moment the merchandise is brought to the market up to the instant it is sold
  • On-Time Credit Collection Rate – The percentage of credit sales gathered on scheduled compared to the overall number of credit sales gathered over a specific term
  • Billing Error Rate – The percentage of bills submitted by the Accounts Receivable Team that has irregularities compared to the overall number of bills submitted over a stated term
  • Total Headcount: Accounts Receivable – The total number of Accounts Receivable staff employed by the firm
  • Total Volume: Special Checks – The number of checks needing special handling in a stated term as a result of unexpected inaccuracies
  • Number of Active Customer Accounts – The total number of current customer accounts opened with the firm at a specific date
  • Cycle Time: New Order Approval – The average amount of days the credit staff take to accomplish the new order approval processes (including credit verification, terms, and approval) from the time the order is accepted to when it is accomplished
  • Percentage of Activities Outsourced: Deductions – The percentage of tasks in the Deductions Division that are outsourced compared to the total number of tasks performed in the Deductions Division
  • Span of Control: Accounts Receivable – The average number of staff members reporting to one manager in the Accounts Receivable Office
  • Total Volume: Checks and EFT – Number of checks and electronic fund transfers (EFT) that are dealt with over a specific term
  • Unit Cost: Wire Transfers – The total expenditure on handling wire transfers divided by the overall number of wire transfers handled over a specific term
  • Wires per Employee – The number of wire transactions, both automated and non-automated, processed over a stated term divided by the overall number of staff members processing wire transactions
  • Percentage of Activities Outsourced: Collections – The percentage of tasks in the Collections Division that are outsourced compared to the overall number of tasks performed in the Collections Department
  • Percentage of Electronic Payments – Percentage of total disbursements/collectibles processed over the Internet.
  • Percentage of Internet Transactions – Percentage of transactions accomplished online compared to the overall number of transactions accomplished
  • Number of Transactions per Hour – The average number of transactions accomplished by Accounts Receivables staff over one hour. Transaction includes bill payments, vendor reports, invoice processing, etc.
  • Transactional vs. Analytical Work Time – A ratio that correlates time consumed by staff member on transaction processing to time consumed on data evaluation.
  • Unit Cost: Accounts Receivable Transaction – Total expenditure related to transactions accumulated by the Accounts Receivable offices divided by the total number of Accounts Receivable transactions handled over a specific term
  • Deductions as a Percentage of AR – The percentage of deductions (USD) compared to the total dollar amount within Accounts Receivable
  • Management Levels: Accounts Payable – Number of management positions in Accounts Payable from department chief to the lowest management position

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Budgeting & Forecasting

The Budgeting and Forecasting Team has the duty to create and evaluate a firm’s budget by measuring the discrepancy between projected and actual costs.

Related: Budget Analyst, Budgeting & Forecasting Analyst, Staff Accountant

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  • Cycle Time: Cash Forecasting – The average number of hours needed to accomplish a cash estimate, from the moment the needed data is collected up to the time the estimate is generated
  • Unit Cost: Budget Production – The total expense incurred when drawing budgets divided by the overall number of expense budgets drawn over a specific term
  • Number of Budgeting Managers – The number of managers engaged in the budgeting process over a specific term. This number could involve business unit heads as well as Finance Division managers
  • Number of Budget Iterations – The number of instances the budget is reexamined before conclusive approval
  • Cycle Time: Budget Production – The average number of days needed to generate a budget from the instance the needed data is collected up to the time the budget is authorized
  • Number of Line Items in Budget – The total number of line items in the budget, showing the amount of articles involved
  • Number of Capital Budget Iterations – The number of times the capital budge is reexamined before conclusive approval
  • Cycle Time: Annual Financing – The average number of business days needed to generate the yearly financial plan from the instant the needed information is collected the plan’s finalization
  • Number of Capital Budget Line Items – The overall number of line items within capital budget plans
  • Number of Capital Budget Schedules – The number of complementary documents/spreadsheets involved in the capital budget submitted yearly
  • Budget Variance – The variance between the forecasted budget amount and the actual operating budget amount (categorized by cost center and order of business).
  • Total Volume: Budget Adjustments – The number of budget amendments performed in a stated term
  • Total Budgeting Expense per Manager – The total costs accumulated at the time of the budgeting process divided by the total number of managers
  • Total Expense: Financial Planning – The total expenditure related to planning accumulated by the Finance Division for a stated term
  • Cycle Time: Capital Budget Completion – The average number of days needed to accomplish a capital budget, from the instant the research starts up to the time the budget is issued
  • Cash Forecasting Frequency – The frequency at which cash reserves are projected and issued by the team (weekly/monthly/quarterly).
  • Total Expense: Budgeting & Forecasting – The overall budgeting and forecasting expenditure accumulated by the Finance Division over a stated term.
  • Total Headcount: Budgeting & Forecasting – The total number of staff workers within the Budgeting and Forecasting Team employed by the company

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Payroll

The Payroll Team’s responsibility is to manage and keep a record of all employee compensations and deductions.

Related: Payroll Specialist, Payroll Clerk, Payroll Processor

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  • Finance Compensation Expense as a Percentage of Finance Expense – The percentage of expenditure related to compensation (salaries, benefits, rewards, allowance) accumulated by the Finance Division compared to the total Finance Division operating cost over the similar term
  • Payroll Taxes as a Percentage of Total Revenue – The percentage of expenditure related to payroll tax accumulated by the firm compared to the total profit gained over the similar term
  • Payroll Administration Headcount Ratio – The number of firm-wide FTEs divided by the total number of Payroll management staff
  • Cycle Time: Payroll Processing – The average number of days needed to pay employee salaries from the instant the needed data is collected up to the time the employee salaries are paid
  • Payroll Form Error Rate – The percentage of irregularities found in forms related to payroll compared to the total number of form related to payroll that are processed over a specific term
  • Total Expense: Payroll – The total costs accumulated by the Payroll team for a stated term
  • Cycle Time: Payroll Process Changes – The average number of days needed to handle an adjustment in the payroll data of a staff member, from the moment an adjustment in employee information is done up to the time the payroll data is up
  • Activity Checklist: Payroll – A benchmark showing the major tasks of the Payroll Division. They usually involve check processing, administrative tasks, company-wide accounting, business unit accounting, withholding tax processing, tax related concerns, and data charges processing.
  • Unit Cost: Form Processing – The total expense related to handling payroll forms divided by the overall number of forms related to payroll processed over a specific term
  • Payroll Headcount Ratio – The number of firm-wide FTEs divided by the total number of Payroll staff
  • Number of Payroll Backlog Items – Number of collected items when processing payroll at a stated time, items of special interest include number of checks/vouchers and number of W-2s.

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Expense Management

The Expense Management Team’s task is to keep an eye on and assess all expenses initiated by employees. These could either be travel, accommodations, entertainment, and food.

Related: Expense Report Auditor, Travel and Expense Processor, Expense Analyst

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  • Travel & Entertainment Report Payments per Employee – The number of travel and entertainment (T&E) report payments handled over a stated term divided by the number of staff members handling T&E payments
  • Unit Cost: Travel & Entertainment Report Processing – Total expenditure related to travel and entertainment report processing accumulated over a specific term divided by the number of reports processed over the similar term
  • Travel & Entertainment Voucher Error Rate – The percentage of travel and expense vouchers tendered by staff members over a specific term that has irregularities like erroneous charge code, absence of receipt, inadequate documentation) compared to the total number of vouchers tendered.
  • Percentage of Travel and Entertainment Checks Reissued – The percentage of travel and entertainment checks hat need to be reissued compared to the overall number of travel and entertainment checks released
  • Travel & Entertainment Payment Error Rate – The percentage of travel and expense compensation payments that has inaccuracies (wrong amount, not paid, given to the wrong employee, etc.)
  • Percentage of Companies with Travel & Expense Automation System – The percentage of firms with an automated Travel and Expense system compared to the total number of firms surveyed
  • Total Expense: Expense Management – The total expenditure of the Expense Management office accumulated over a stated term
  • Total Headcount: Expense Management – The overall number of staff members employed by the company who track and verify expenditure initiated by employees
  • Cycle Time: Reimbursement – The number of days required in analyzing employee expense report (and necessary documentation) and reimburse them for authorized expenses, from the receipt of employee expense report to the time the reimbursement is done
  • Number of Processing Points – Number of transitions for standard general expense voucher (e.g. from mail desk to final payment assessment, not including double payments, reissued or redeposited checks)
  • Booking & Payment Visibility – The percentage of travel bookings that are done via the right channels so they are readily available for assessment and reporting compared to the number of travel booking done through all mediums

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Tax

The Tax Group manages and plans all expenses concerning taxes.

Related: Tax Accountant, Tax Analyst, Tax Associate, Tax Preparer, Staff Accountant

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  • Cycle Time: Preliminary Tax Calculation – The average number of days needed to compute the Preliminary Tax from the moment the tax-related data is collected up to the time all the needed tax forms are accomplished
  • On-time Filed Tax Returns – The percentage of tax returns submitted by the firm that are sent on schedule and in proper form compared to the total number of tax returns submitted by the firm over the similar term
  • Effective Tax Rate – Effective tax rate calculates the average rate of taxation for a company’s pre-tax profits (revenue).
  • Total Headcount: Tax – The total number of tax management staff employed by the firm
  • Total Volume: Tax Transactions – The total number of transactions related to tax handled over a stated term
  • Total Volume: Tax Fines – The number of penalties received by the Tax Management Office over a specified term
  • Total Expense: Tax – The total expenditure of the Tax Management team over a stated term
  • Percentage of Late Tax Filing – The percentage of late and erroneous tax filings compared to the total number of tax filings done over the similar term

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Financial budgeting, planning & operational cost

Related: Sr. Accountant, Accountant, Admin Executive

  • Complying with government Regulations – Prompt adherence to all regulatory specifications

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  • Efficiency in executing assigned tasks – Prompt accomplishment of all designated duties
  • Liaising with vendors, banks, financial institutes, audit department, etc. – Successful relationship management & negotiation skills in communicating with banks, financial establishments, and different regulatory agencies
  • Accuracy and promptness in managing bookkeeping process including invoicing and tally entries – Capacity to submit invoice systematically and promptly to customers to receive payment on time

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Finance Supervisor Job Responsibilities

  • Aid in the transfer of reporting to Estimating to provide part performance reviews for Estimating with profitability and operating standard performance.
  • Assists in the preparation of the audit work papers.

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  • Assists with other duties or projects as directed by supervisor
  • Complies and analyzes financial information – Complies and analyzes financial information to prepare entries to accounts, such as general ledger accounts – includes inventory adjustments, standard cost adjustments, job cost adjustments, and other cost accounting-related areas.
  • Complies and distributes weekly sales reports to management- Updates the weekly Goal patrol.
  • Performs job according to pre-established safety, quality, and efficiency standard operating procedures
  • Prepare consigned inventory reconciliations and usage status reporting to consignment customers.
  • Prepare customer profitability reporting as required
  • Reconcile general ledger activity reports, researching and correcting any errors or omissions
  • Responsible for inventory standard cost maintenance as required and management on inventory cycle count administration
  • Review job closing and maintenance processes to ensure timeliness and accuracy
  • Review systems of recording transactions and input information into a general ledger – Review systems of recording transactions and input information into general ledger including monthly sales and manufacturing cost reconciliations within Epicor modules and sub-ledgers; the documentation of Epicor Inventory system- including the flow of information from customer order to production and inventory; verification of job cost detail/inventory valuation reports.

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Revenue Process Management

  • Claim Entry – Accuracy of claims entered
  • Claim Preparation and Submission – Preparing claims to be sent successfully to payer successfully based on demographics, provider, and facility.

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  • Claims Follow Up – Track Record of following up on unpaid claims relevant to claims sent by employee
  • Production and dependability of claim submission – Entering, preparing and sending the expected amount of daily claims each day or when covering for other employees and/or during needed situations.
  • Quality of patient accounts – Quality of patient accounts includes correctly applied EOBS including but not limited to applying “paid” ($0) to claims that could be paid, patient credits, insurance credits, medical necessity denials or any other issues that can cause inaccuracy of account.

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Financial Planning

  • Check the accuracy of own and others’ work – Check the accuracy of financial planning inputs by reviewing details in report output pages and source data. Review the big picture of the overall plan to ensure reports, inputs, and assumptions are reasonably accurate.
  • Communicate missing/unclear/notable client data to Advisor and Team – Communicate missing, unclear, or notable client data in an appropriate manner to Advisor and Team before a client meeting or preparing paperwork, as needed. Notable data include inconsistencies in beneficiaries or other information and revenue opportunities.

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  • Create reports appropriate to clients’ needs – Ensure financial planning reports are complete, accurate, contain information relevant to clients, and are according to Team standards.
  • Enter data accurately – Enter data accurately and according to Team’s standards and formats.
  • Gather information to clarify clients’ situation – Ask questions to clarify a situation. If the client doesn’t know the answer, ask permission, and come to an agreement on estimates as needed.
  • Manage and track financial planning process – Manage and track financial plans in progress including what plans are in the process, the stage of each plan, and making sure each plan is complete in time for final review before or after client meetings.
  • Possess in-depth knowledge of eMoney and other related programs – Posses and uses in-depth knowledge of eMoney. Proposes new approaches, methods, or use of eMoney and other programs used for financial planning.
  • Rate overall financial planning performance – Rate overall financial planning performance. Include examples, ideas for improvement, and other comments.

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Finance & Admin Assistant Job Responsibilities

  • Capture Invoice numbers on SAGE One.
  • Capture POP’s onto the PP Sheets.

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  • Capture Pro Forma’s on PP Sheet.
  • Capturing Purchase Orders.
  • Do Payments Sheet for Payment Runs.
  • Get documents signed by relevant Project Managers.
  • March Purchase Orders to Invoice.
  • Raise relevant Pro Forma’s
  • Raising Invoice (sometimes you need to get the relevant information to raise the invoice.)
  • Receive Invoices (Print)
  • Receive POP’s.
  • Scanning Purchase Orders.
  • Send “Payment Received” email.
  • Send POP’s to Suppliers to show payment has been made.
  • Sending Purchase Orders.
  • Update “Pro Forma’s” sheet.
  • Update PP Sheet.

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Business Operations and Finance Director job responsibilities

  • Data Management – Ensure retention of agreements, contracts, employment records.
  • Finance – Compile projections for board review.

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  • Finance – Evaluate and process intracompany transfers to ensure adequate operating funds.
  • Finance – Facilitate monthly & year-end financial closes.
  • Finance – Manage grant finances to ensure timely funding, agency compliance, and audit readiness.
  • Finance – Oversee accounts payable and receivable activities administered by Manager, Business Operations.
  • Finance – Seek opportunities for additional funding sources, including the sale of PA Tax Credit.
  • Human Resources – Facilitate talent acquisition and onboarding activities for new employees, as well as exit process for departing employees.
  • Human Resources – Oversee employee health benefits administration and PTO reporting.
  • Human Resources – Process payroll, 401k and HSA contributions, and expense reimbursement.
  • Human Resources – Provide HR consulting to supervisors and individual employees, as needed.
  • Information Technology – Ensure agency and industry security and data retention compliance.
  • Information Technology – Ensure the highest level of IT systems and support.
  • Investor Relations – Distribute investment subscription packages, review submissions for accuracy, and completeness in order to close equity investments.
  • Investor Relations – Facilitate distribution of investor communications, ensure accurate and complete investor database.
  • Investor Relations – Work with accountants to ensure accurate annual tax reporting.
  • Office Space and Administrative Support Activities – Act as the primary company liaison to ensure their compliance in providing all services stipulated under the lease.
  • Office Space and Administrative Support Activities – Oversee and support duties fulfilled by Business Operations Manager and Administration.
  • Office Space and Administrative Support Activities – Plan, oversee, and support facilities upgrades to the physical office space as well as discovery laboratories.
  • Public Relations – Support internal and external website management, and social media campaigns.
  • Public Relations – Support press release compilation and distribution.
  • Office Space and Administrative Support Activities – Support Executive Team and other staff, as required.
  • Information Technology – Manage relationships with third party support.

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KPIs or Key Performance Indicators are measured for the finance department of any organization to ensure the efficient functioning of the department. Without the real-time measurement of finance KPIs, it is impossible for senior management to determine employee effectiveness.

Therefore, core competencies that must be measured include accounts payable and accounts receivable lifecycles, verification of business deals to ensure accuracy and legality, accurate bookkeeping mechanisms to facilitate timeous and correct financial reporting, cash management, meeting internal audit requirements, collection of outstanding customer monies, financial planning including budgeting and forecasting, payroll, expense management and payment of suppliers, and income tax submission.

A guided rollout is included with all our plans. Simply send us your job descriptions and we will set up your evaluations.
Expert HR advice is available to all customers free of charge.

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