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tability.ioWhat are Accounting OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We have curated a selection of OKR examples specifically for Accounting to assist you. Feel free to explore the templates below for inspiration in setting your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Accounting OKRs examples
We've added many examples of Accounting Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to enhance efficiency in meeting accounting task deadlines
ObjectiveEnhance efficiency in meeting accounting task deadlines
KRReduce overdue accounting tasks to 0% for four consecutive weeks
Review and prioritize all outstanding accounting tasks daily- Dedicate an hour each day to address overdue tasks
- Implement a tracking system for task completion progress
- KRDecrease error rate on reports and tasks to less than 2%
- Adopt effective error tracking systems
- Provide comprehensive training for staff
- Implement stringent quality control measures
- KRAchieve a 100% completion rate for accounting reports each week
- Implement a weekly reporting completion checklist
- Schedule dedicated time for reviewing and finalizing reports
- Prioritize weekly completion of all accounting reports
OKRs to streamline the accounting close process
- ObjectiveStreamline the accounting close process
- KRImplement automated accounting software with 100% staff adoption
- Monitor staff adoption, offer ongoing support
- Select user-friendly, comprehensive accounting software
- Train staff thoroughly on software usage
- KRDecrease the monthly closing cycle time by 30%
- Streamline data collection and management processes
- Implement automated financial systems for swift transaction processing
- Regularly review and improve workflow efficiency
- KREliminate 50% of identified bottlenecks in the closing process
- Implement solutions to remove identified bottlenecks
- Identify excessive processes contributing to bottlenecks
- Review and analyze current closing process parameters
OKRs to achieve full productivity in general accounting role
- ObjectiveAchieve full productivity in general accounting role
- KRComplete 100% of assigned tasks accurately and on time
- Regularly review progress and adjust plans as needed
- Allocate sufficient time daily for each assignment
- Prioritize tasks based on urgency and relevance
- KRIncrease efficiency by automating 2 routine accounting processes
- Identify two repetitive accounting tasks prone to human error
- Research and select relevant automation software
- Implement and test the selected automation system
- KRReduce error rate in accounting tasks by 50%
- Train staff in latest accounting procedures and software
- Implement a double-check system for all accounting tasks
- Regularly review and correct errors in accounting records
OKRs to improve efficiency in meeting accounting deadlines
- ObjectiveImprove efficiency in meeting accounting deadlines
- KRAchieve 100% on-time completion for end-of-month reconciliation
- Perform weekly audits to maintain accuracy and timeliness
- Assign specific roles and timelines to the team
- Implement a daily monitoring system for all reconciliation tasks
- KRIncrease early completion rate by 10%
- Streamline processes for quicker completion
- Provide efficient training to improve early completion skills
- Implement rewards for tasks completed ahead of schedule
- KRReduce late submission of reports by 20%
- Introduce penalties for late report submissions
- Regularly remind team about upcoming report due dates
- Implement strict deadlines for submission of reports
OKRs to enhance my understanding of royalties
- ObjectiveEnhance my understanding of royalties
- KRAttend two educational workshops or webinars related to royalties accounting
- Identify suitable workshops or webinars on royalties accounting
- Attend and actively participate in both sessions
- Register for two selected educational events
- KRRead and summarize five books about royalties in various industries
- Read each book carefully and comprehend key points
- Summarize each book's main arguments and findings
- Select and procure five books about royalties in different industries
- KRInterview three professionals in royalty management for unique insights
- Arrange and conduct interviews with these professionals
- List potential professionals in royalty management
- Analyze and document obtained insights
OKRs to enhance precision and productivity of tax and accounting operations
- ObjectiveEnhance precision and productivity of tax and accounting operations
- KRReduce bookkeeping errors by 20% through the introduction of automation software
- Train employees to use the new software efficiently
- Research and select suitable bookkeeping automation software
- Implement chosen automation system into daily operations
- KRCondense tax computation time by 30% via process optimization
- Implement efficient tax software to streamline computations
- Regularly update tax computation best practices
- Allocate more resources to data compilation
- KRAchieve 15% rise in overall productivity by training staff in new methodologies
- Identify relevant training programs for new methodologies
- Arrange and schedule training for staff members
- Monitor and assess improvements in productivity post-training
OKRs to achieve full productivity as a General Accountant
- ObjectiveAchieve full productivity as a General Accountant
- KRReduce weekly accounting errors by 50%
- Implement thorough double-checking procedures for all accounting tasks
- Provide additional training on accounting software usage
- Instantly address and correct identified accounting errors
- KRScore at least 90% on internal accounting knowledge assessments
- Study company's internal accounting policies daily
- Practice with past assessment tests for improvement
- Seek clarifications for any accounting concepts not understood
- KRIncrease speed of invoice processing by 30%
- Train staff in efficient invoice processing techniques
- Streamline invoice approval process
- Implement automation software for quick invoice management
OKRs to enhance the accounting, financial, and tax processes architecture
- ObjectiveEnhance the accounting, financial, and tax processes architecture
- KRImplement a new accounting system, improving data accuracy by 30%
- Implement regular data accuracy checks
- Train staff on new software operations
- Research and choose an advanced accounting system
- KRDecrease tax-related errors by 20% through updated software integration
- Train staff effectively on new software usage
- Research and identify advanced tax software solutions
- Implement selected software into company systems
- KRIncrease process automation by 25% reducing manual efforts in financial tasks
- Train all finance team members on new automated systems
- Review and adjust automation protocols regularly for efficiency
- Implement advanced accounting software for streamlined financial operations
OKRs to enhance organization skills for efficient billing management
- ObjectiveEnhance organization skills for efficient billing management
- KRComplete an advanced course in financial software systems for improved proficiency
- Research suitable advanced courses in financial software systems
- Enroll in the selected advanced financial software course
- Regularly study and complete coursework to enhance proficiency
- KROrganize weekly review meetings to monitor progress and identify areas of improvement
- Schedule weekly meetings with team for progress evaluation
- Design frameworks to monitor project advancements
- Establish metrics to identify improvement areas
- KRImplement a digital billing system to reduce processing errors by 30%
- Research and select appropriate digital billing system software
- Closely monitor error rates and make adjustments accordingly
- Train accounting staff on new billing system
OKRs to ensure precision in financial statement generation
- ObjectiveEnsure precision in financial statement generation
- KRExtend internal audit process to cover all financial transactions by 15%
- Implement extra training for thorough audits
- Add 15% more transactions to audit checklist
- Increase audit team size for additional oversight
- KRTrain accounting team on latest financial standards to enhance compliance by 20%
- Identify key updates in recent financial standards
- Conduct interactive training sessions for accounting team
- Prepare comprehensive training materials
- KRImplement innovative accounting software to reduce errors by 30%
- Research and identify innovative accounting software options
- Purchase and install chosen accounting software
- Train staff in using the new software
How to write your own Accounting OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Accounting OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
How to track your Accounting OKRs
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Accounting OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to seamlessly integrate values into community functions and relationships
- OKRs to expand e-learning opportunities for students
- OKRs to improve user retention rate and reduce churn
- OKRs to increase number of signups through referral program
- OKRs to enhance business analysis skills and strategies
- OKRs to successfully launch 20 e-services online