A project is a time-limited initiative that is undertaken to provide a solution. Besides planning and organising to achieve project objectives, accounting is also a key activity in order to mobilise resources and to work together for the same goal. It is important to know not only what to do and how to do it, but also how to account and report for it. Accounting is crucial to get things done smoothly avoiding mistakes and misunderstandings.
Particularly in the context of donor-funded projects, work teams are composed of people with different professional and cultural backgrounds. The teams’ interactions and project interventions, if not supported by reliable project management could cause conflicts and interruptions in the project implementation. Understanding how teams work is a crucial aspect for facilitating appropriate dynamics and getting accounting done properly. If a normal task, such as doing an invoice, is not getting done easily and reliably, other project activities might be interrupted or altered.
Projects by nature are short-term based assignments that may range from several weeks, to months or years. This challenges project accountants and managers and requires a blend of accounting skills, team building skills and project management expertise. In order to facilitate their work, not only skills but also technological solutions are needed that reduce human error and increase productivity by saving time.
Having experience of several years in accounting our projects, we want to share this with our communities because we want to make more ideas happen!
