Reducing Entry Time from 2 hr to 2 min
The course is presented in four parts.
First, the course introduces a business case of an “accounting” model that unintentionally includes all the hurdles to prevent fast data entry. The model takes a staff 1+ hour to update 1 vessel file, and what’s worse, it takes over 2 hours to generate an up-to-date Status report for a fleet of 60 vessels!
Next, the course will demonstrate how the author has overhauled the old model so that it: o Reduces the data entry and report time from 1 hour to 1 min, and o Reduces the integration time from 2 hours to 2 minutes!
Third, we draw a line between when to data entry and when not to. Generally speaking, we need to avoid data entry as much as possible, thanks to the technologies. However, if you do need data entry, only enter data at a minimum with the remaining filled in from data extracts.
Fourth, we demonstrate the 7 Dos and Don’ts in data entry, reporting, and validations. Some of the best practices are: o Do NOT enter data in a summary table, making it hard to update o Do NOT enter invoice details in a cell note, resulting in double entry o Do NOT apply accounting debits or credits in the entry form, which may confuse data entry clerks o Do NOT summarize on “moving targets”
Last, the course illustrates some advanced modeling skills on: o How to build validation and auditing checks? o How to “quickly” set up links to 60 vessel files?
Prerequisites and Advanced Preparation ● Basic Excel knowledge ● Example: be able to open one Excel file and connect to external data files, etc.
Field of Study: Computer Software & Applications
Financial Reporting Expert
Lenny is Senior Financial Analyst at Ausenco. Lenny has over 15 years combined experience in financial planning and analysis (FP&A), financial reporting and modeling, and compliance auditing. Lenny supervises Adaptive Insights system budgeting, and is a CPA, CGA, and a Certified Adaptive Insights Professional and Certified Xero Partner. Lenny is a proponent for "One-click Reporting" for analysts and "Self-service Reporting" for executives. He has strong belief that reporting and closing should be hours rather than days or even weeks. Lenny also acted as local CPA chapter board officer and volunteered for Canada Revenue Agency as a Community Volunteer Income Tax Program consultant. Education MBA, Finance : George Washington University - SBPM (School of Business and Public Management) - [1998 to 2000]
