An accounting procedure is a standardized process that is used to perform a function within the accounting department. Examples of accounting procedures are:
Issue billings to customers
Pay invoices from suppliers
Calculate payroll for employees
Derecognize fixed assets
Conduct a bank reconciliation
An accounting procedure is designed to complete a function efficiently, while incorporating sufficient controls to mitigate the risk of loss. A procedure can also be developed as a training tool for employees, who can peruse the document to gain an understanding of a new job.