Raci Chart Template Free Download Ods Excel Pdf Csv

RACI Chart Template

The RACI chart template one can use to assign roles and responsibilities in a project or activity. It maps out which task is being done by whom, who is a reviewer, and who is accountable for a task. Ultimately, this chart eliminates confusion and helps identify the person accountable for an activity.

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Excel 2003 (.xls) OpenOffice (.ods)CSV (.csv)Portable Doc. Format (.pdf)

RACI stands for Responsible, Accountable, Consulted, Informed. Let’s understand these four responsibilities from below brief description:

#1 – Responsible

It is the person who works on and completes the task. Depending on the difficulty level and time consumption, there can be one or more persons responsible for one task.

#2 – Accountable

The person who is also the reviewer assigns various tasks to the responsible person. Therefore, the responsible person can also be held accountable for some tasks. However, a SOXSOXThe Sarbanes-Oxley Act (Sox) of 2002 was enacted by the US Federal Law for increased corporate governance, strengthening the financial and capital markets at its core and boost the confidence of general users of financial reporting information and protect investors from scandals like that of Enron, WorldCom, and Tyco.read more review nowadays is compulsory to have another person review the task completed by one person. Therefore, having just one person accountable for one task is always a good idea to avoid ambiguity.

#3 – Consulted

These people consult regarding feedback or confirmation that the project is going fine and output quality is as desired. If any, bugs or loopholes in the product or project. The parties for consulting can be internal or external, depending on the nature of the task open for consultation.

#4 – Informed

These are the parties who are informed about the progress, bottlenecks, or project completion. Most of the time, informed people are final recipients or senior leaders who want to update about the progress, changes, and any other significant amendment.

Let’s understand the RACI chart template by using the below template in which an accounting manager has delegated various tasks within his team and can take follow up with responsible and accountable people:

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About the RACI Chart Template

It is a straightforward RACI chart prepared and used by one of the accounting directors in any organization for the monthly close activity. So, we see here that there are different teams for different functions. For example, invoice booking by the accounts payable team has three members responsible for booking invoices in a particular region.One can also mention the name of the associates here. Then, Lucy’s accounts payableAccounts PayableAccounts payable is the amount due by a business to its suppliers or vendors for the purchase of products or services. It is categorized as current liabilities on the balance sheet and must be satisfied within an accounting period.read more manager is responsible for the job invoice booking. It means that if there are any issues with invoice booking or concerns from a vendor regarding payments or invoicing queries – the accounting director can always get in touch with Lucy to get the update and resolve the issue. Then for consulting, there is an oracle and group team. Oracle is a financial tool commonly used by organizations. The group team is responsible for consolidating the books of accounts from various regions and countries to present them to senior leadership, investors, and other stakeholders.So, the accounts payable team should refer to the Oracle team for guidance and support if there is any system issue. And if there is any available issue like exchange rates, a vendor’s status, or any accounting issue, they should refer to the group team for guidance. Then, the informed group is the whole accounting group so that everyone is aware that one of the departments has completed its task. We are on track to close the books on time.In the same way in the above template, the RACI chart is laid out for billing, revenue, intercompany, CAPEXCAPEXCapital Expenditure is the total amount that a Company spends to buy & upgrade its fixed assets like PP&E (Property, Plant, Equipment), technology, & vehicles etc. You can calculate it by adding the net change in PP&E value over a given period to the depreciation expense for the same year. read more, and other functions.

How to Use the Template?

It is a simple, concise, and comprehensive template explained here. Then, the person uses the RACI chart to change the attached template and update the various functions and names of the people depending on team size. Also, they can include and exclude certain members from the team depending on the information and how critical it is for the organization. For example, suppose there is an update regarding merger and acquisition, which is still in the initial stage. In that case, one should not share it with everyone in the organization; informed people can only be the senior leadership and involved associates. Similarly, accountability must be distributed so that one person is not burdened with many responsibilities, and task completion becomes difficult. Also, the same person must not be accountable to departments with conflicting interests to avoid SOX and other compliance issues.The main aim of this chart is to understand which team and person are doing what and reach out to them in case they need information. Also, in a digital world, all the departments are connected, and one is reliable at another department’s task completion. For example, the general ledger – GL team can only start working in an accounting environment after the accounts payable and receivable team has completed their task. In that way, the RACI chart provides a quick overview of the distribution of the task and responsiveness of one department to another and provides better integration and task completion.