Free Finance Manager Handover Note Template
Finance Manager Handover Note
Prepared By: [YOUR NAME]
Date: June 21, 2050
I. Introduction
The purpose of this Handover Note is to provide a comprehensive overview of the key information and responsibilities associated with the finance management role. It aims to ensure a smooth transition and continuity in financial operations and decision-making processes.
II. Current Projects
|
Project Name |
Status |
Next Steps |
|---|---|---|
|
Annual Budget Preparation |
In Progress |
Finalize department inputs, submit draft by October 15 |
|
Quarterly Financial Review |
Completed for Q3 |
Prepare presentation for the board meeting in November |
|
Audit Preparation |
Pending |
Gather required documents, liaise with external auditors |
III. Key Contacts
|
Name |
Role |
Contact Number |
|---|---|---|
|
Elijah Chambers |
Chief Financial Officer |
318 555 7777 |
|
Liam Wheeler |
External Auditor |
319 555 7777 |
|
Amelia Hudson |
Senior Accountant |
320 555 7777 |
IV. Financial Policies and Procedures
-
Expense Reimbursement Policy: All expenses must be submitted within 30 days of occurrence, supported by receipts. Ensure compliance to facilitate timely reimbursement.
-
Budget Approval Workflow: Department heads are required to submit budget proposals by Q3 for the subsequent fiscal year. These proposals will be reviewed and approved by the CFO.
-
Invoice Processing Procedure: Invoices should be verified by the respective department, approved by the finance manager, and processed within 15 days to ensure timely payments.
V. Pending Issues
-
Finalization of the Q3 Financial Performance Review Report: This report is essential for strategic planning and should be prioritized.
-
Resolution of Discrepancies in the Accounts Receivable Ledger for Q2: It’s crucial to investigate and resolve these discrepancies to maintain accurate financial records.
-
Completion of the New Vendor Onboarding Process for the IT Department: Follow up to ensure that this process is completed to avoid delays in vendor payments.
VI. Reporting Obligations
|
Report Name |
Due Date |
Frequency |
|---|---|---|
|
Monthly Financial Statement |
1st of Every Month |
Monthly |
|
Quarterly Budget Review |
15th of the First Month of the Following Quarter |
Quarterly |
|
Annual Financial Report |
March 31 |
Annually |
VII. Tools and Software
-
ERP System: SAP - Utilized for overall financial management, inventory control, and procurement processes. Familiarize yourself with the reporting features.
-
Accounting Software: QuickBooks - Used for managing day-to-day accounting transactions and payroll. Ensure you have access to and understand its functionalities.
-
Financial Planning: Adaptive Insights - Employed for budgeting, forecasting, and financial analysis. It’s essential for strategic decision-making.
VIII. Conclusion
Your role as the incoming finance manager is crucial to the continued success of our financial operations. I trust that this handover note provides you with the necessary information and resources to transition smoothly into your new responsibilities. Best wishes for your success in this role!
