What is Accounting Flowchart

What is Accounting Flowchart?

3-4 minutes

Flowcharts are commonly used in developing business plans, designing algorithms and determining troubleshooting steps. Many software programs are available to design flowcharts. The purpose of a flow chart is to provide people with a common language or reference point when dealing with a project or process.

An accounting flow chart is a type of diagram representing a process using different symbols containing information about steps or business processes specifically design for the area of accounting and financial department. This special type of flowchart contains the collection of standardized accounting elements and shapes which will help you design various types of Accounting Flowcharts that includes: Purchasing Process, Account Receiving Flowchart, Account Payable Flowchart, etc.

Accounting Flowchart Tool

The online accounting flowchart tool of VP Online makes it easy to create any kind of accounting flowchart online. The accounting flowchart tool features a drag-and-drop flowchart editor and comes with a rich set of flowchart symbols specialized for creating accounting flowcharts.

Account Flowchart Example – Accounts Receivable

The accounts receivable process makes sure your company collects payment for the goods or services it provides. If a sale is made by billing the customer, the customer will be sent an invoice. Usually, the customer has 30 days to pay the total. This chart shows the actions taken by the Accounts Receivable Department which gets a copy of the invoice.

They will check after 30 days and then keep reminding the customer about the invoice until it is paid.