Performance Review checklist for Accounting Staff

In the fast-paced financial sector, accurate technical skills are only half the challenge. A trained, high-performing accounting team is fundamental for a business to succeed – and not only to be compliant, but to help inform strategic decisions and maintain the confidence of stakeholders.

But how do you determine your accounting personnel are not just ‘trained’ – but are constantly improving? Performance reviews are critical. And using a Performance Review Checklist for Accounting Staff can help make those reviews reference points that are objective.

Performance Review Checklist for Accounting Staff

Here is a simple checklist for managers to reference when assessing accounting staff performance during performance reviews:

1. Technical Competency

• Accuracy in preparing financial reports and statements
  
• Knowledge of accounting principles (GAAP, IFRS, or applicable standards)
  
• Ability to meet deadlines consistently
  
• Proficiency in accounting software (e.g., QuickBooks, Xero, SAP)
  
• Understanding of tax and compliance requirements
  

2. Attention to Detail

• Low error rate in work outputs
  
• Thoroughness in reviewing own and others’ work
  
• Proactive in identifying discrepancies or irregularities
  

3. Communication Skills

• Clear and timely communication with team members
  
• Ability to explain financial information to non-finance staff
  
• Responsiveness to emails and requests
  

4. Problem-Solving & Initiative

• Ability to troubleshoot accounting issues independently
  
• Willingness to suggest process improvements
  
• Proactive approach to learning and adapting to changes
  

5. Time Management & Productivity

• Efficient task prioritisation
  
• Consistent workload management under pressure
  
• Meeting internal and external deadlines
  

6. Teamwork & Professionalism

• Positive contribution to team dynamics
  
• Adherence to company values and code of conduct
  
• Openness to feedback and collaboration
  

7. Commitment to Continuous Learning

• Participation in ongoing training and development
  
• Staying updated on industry trends and regulations
  
• Applying new knowledge effectively in day-to-day work

Why Ongoing Training for Accounting Teams is Important

Accounting is a dynamic field. Rules change, technology advances, and the expectations increase. Thus, companies should commit to ongoing training for their accounting teams and be aware of the learning outcomes. Effective training should include:

• Technical Skills – This ranges from learning to use an accounting information system, to understanding IFRS, GAAP, or local standards.
• Soft Skills – Key elements, particularly relevant to those in client-facing roles, or in management positions, are communication, teamwork, and problem-solving.
• Regulatory Environment – Industries change constantly, as do tax updates, audit regulations, and the relevant legislation for any industry.
• Technological Awareness – Cloud accounting platforms, robotic process automation, and data analytics are becoming everyday norms – accounting team members must remain informed.

Of course training can only be effective if progress is tracked. Referrals are planned in a structured way so the “performance reviews”, along with a checklist, are valuable.

How to Organize a Training Program for Accountants

An organized training plan will ensure your accountants remain sharp, and motivated to take on the future. Below is a suggested format:

1. Training for New Staff – This training reviews company policies and objectives, how to use the accounting information system, the reporting formats, and key contact personnel.
2. Technical Refresher Training – Regular training in the area of changes from accounting standards, changes in legislation, and any new software.
3. Soft Skills Training – Specific training in areas such as communication, time management, and problem-solving, as these are key contributors to the success of an accounting team.
4. Share and Learn from Other Business Units – Collaboration with different business units allows accounting team members to broaden their perspective
5. Mentoring & Peer Learning – Establish structured mentoring relationships between junior staff and more seasoned accountants to facilitate knowledge sharing and expedite their development process.

Common Skill Gaps to Watch For

Performance appraisals also provide a great opportunity for identifying skill gaps.

Aspects our office often identifies include:

• Difficulty learning new software or automation tools
• Difficulty in keeping up with recent tax or regulatory changes
• Difficulty communicating with non-finance stakeholders
• Difficulty with confidence related to interpreting financial information for strategic purposes
• Difficulty with excessive manual processes, when they might have access to automation

Once you’ve identified these potential gaps, you can then strategically apply training to address them.

Managerial Tips: How to make a performance appraisal constructive

Having a checklist is great — but, equally important to evaluating based on a checklist, is how you deliver the appraisal. Here are some ways to ensure your appraisal maintains motivation and doesn’t create worry:

• Include specific examples of abilities vs. generic appraisal
• Strike a balance between positive feedback and what can be improved
• Set clear and achievable development goals
• Discuss ways to move into new career opportunities
• Have a two way conversation — support by asking staff what support they need

Conclusion

Training and regular performance evaluations are both essential in building a dependable, efficient, and motivated finance team. Training allows your staff to be aware of and if necessary, compliant with, the informational demands of regulatory changes, technological developments, and industry best practices.

Regular performance evaluations will allow you to identify progress, closing skill gaps and most importantly, continuous improvement. You can bring fairness, consistency, and focus to the performance evaluation period, as long as you have a shared checklist. More importantly, by investing in the growth of your accounting team, you can improve individual performance, and ultimately, better financial management and sustainable success.