Management Accounts Reporting Project
The Challenge:
This finance department was in the process of recoiling hundreds of pages of printed payroll reports to submit end of year accounts. The current system for reporting on a portion of this information was provided by a set of incomplete reports generated on a manual basis. Some of the information had no reports associated with it.
Two dedicated staff members were manually reconciling each account, a process estimated to take up to 80 hours for less obv ious adjustments. The client needed to provide external auditors and internal management direct visibility into key deduction and payment information for temporary and permanent staff for each tax period and session for a variety of years and for up to seven different employer categories.
The task was to create easy to use, understandable, and reusable reports that would allow all key staff to instantly access the financial information they needed.
Official Intelligence was selected to design and develop a suite of Crystal Reports that would allow all key staff to instantly access the financial information they needed. The reports were to be run manually.
The Solution:
Individual reports were designed to show contributions such as pensions, student loans, family tax credits, and maternity pay. A summary report was created to display total national insurance contributions, net pay, gross pay, and tax for the various employee accounts. These reports were designed with user-def ined parameters, keeping reusability in mind.
Starting with an initial set of prototypes to be tested by key personnel, Official Intelligence was able to design and deploy a complete suite of reports across the management accounts department in less than 4 weeks.
The Results:
With in weeks of the reports being deployed, time spent making reconciliations was cut by over 75% across several key accounts and time spent reconciling payments and deductions in-house was negligible.