Accounting of a translation agency

Date this page was reviewed:
2024-11-22

Video of accounting of a translation agency

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Even a small translation agency should keep track of translation. It is a necessary part of management. Its essence lies in the collection of data on events that are important to the activities of a particular organization. These data are accumulated, structured, and then serve as the basis for making management decisions. The main events in a translation agency are events related to the receipt and execution of translation orders. Even in a company consisting of a director and one employee, the number of actions to each request is the same as in a large agency. It also carries out standard receiving, registering, distributing, and issuing the finished result to the customer's procedures. The fulfillment of these functions needs to be fully accounted for. If the accounting is not organized, then several problems arise that lead to a decrease in profits and a loss of such a company reputation. How does this happen? Imagine an agency with a director and one hired translator. We use e-mail, telephone, and social networks to receive orders. Both the director and the translator have their own, individual ones. In addition, there is a landline telephone in the office and corporate e-mail. According to them, applications are accepted by the one who is currently in the office. Each employee has a separate Excel accounting purposes workbook, where he enters the data that he considers necessary. At the same time, the director keeps a record of the following events: the appeal of a potential client (by which he understands the first contact, even if the result was an agreement on further discussion or refusal of the agency services), the decision on further negotiations, oral approval of the assignment, execution of a service agreement, readiness translation, acceptance of the text by the customer (it is considered the moment when confirmation is received that the result has been accepted and revision is not required), receipt of the finished text payment. The hired employee keeps records of such actions as the client's appeal (by which he understands the receipt of the translation text), the oral approval of the assignment, the transfer of the translated materials to the client (the fact of sending the finished result to the client is considered). Information is exchanged regularly - how many orders have been received, how many have been completed, and within what time frame it is possible to start fulfilling new ones. The director usually has much more new calls than the translator, and the number of completed assignments is much less. The translator often refuses the assignments offered by the director, citing the completion of the already finished translations. The employee believes that the manager works slowly does not cope with the collected orders and constantly tries to shift some of them onto the employee. The manager is sure that the employee is looking for buyers of services poorly, performs them poorly, and ignores payment control. The director expresses dissatisfaction and demands better performance and a more interesting attitude to the interests of the office. The translator is silently indignant and passively resists the additional load. Mutual dissatisfaction can result in open conflict and the dismissal of the translator. At the same time, the main mutual dissatisfaction reason is inconsistent accounting events. If both parties understand that by the words ‘appeal’ and ‘transfer of work’ they mean different events and agree on the names, it clear that the number of references and ready-made texts they have is approximately the same. The main subject of the conflict would be immediately eliminated. The introduction of a good accounting program would quickly clarify the situation and solve the accumulated problems constructively. A unified repository of information about customers, orders, and the status of transfers are being formed. All the required information is well structured and conveniently stored. Information on each object is available to all agency staff. Accounting is accomplished based on solitary facilities, which minimizes odds due to incoordinationcies in the meaning of occasions. The subdivisions of account are overall to all staff. There are no nonconformities in obtained and finished tasks accounting. All work translation agency plans and the development of the agency are based on reliable information. The supervisor can provide the required manpower on time in case of a large text. It is also probable to outline vacations with irreducible disruption to operations. The program aids the option of ‘binding’ information to the picked accounting subject. To each call or each customer of services. The system affords the capability to flexibly operate mailings depending on the claimed objective. Common news can be sent by joint mailing, and a translation willingness remembrancer can be sent by a particular message. As a result, each partner of the agency receives only messages of interest to him. There is mechanically entering norm agency data into official documents functionality (contracts, forms, etc.). This retains translators and different drafting them personnel time and refines the property of the documentation. The accounting program allows assigning different access rights to different users. All staff can apply its possibilities to search for information while managing data sequence. The system grants the feature of assigning workers from different shedules. For example, from a roll of full-time workers or freelancers. This extends the resource governance possibilities. When a large volume of a translation agency appears, you can quickly attract the necessary performers. All accounting files required for execution can be attached to any specific request. The swap of both organizational accounting documents (contracts or the finished result requirements) and working materials (auxiliary texts, finished translation) is facilitated and accelerated. The automation accounting program provides accounting statistics on the calls of each consumer for a certain period. The manager is able to determine how important a particular client is, what is his weight in providing the agency with accounting tasks. The ability to get accounting information on payment for each order makes it easy to understand the value of the client for the agency, clearly see how much dollars he brings and what price it costs to hold back and assure loyalty (for example, the optimum discount degree). Performers' wages are computed mechanically. An accurate notation of the capacity and velocity of the task is carried out by each executor. The manager readily analyzes the revenue generated by each worker and able to build an effective prompting system.