Good record keeping is a sure fire way to keep the running of any organization smooth and efficient. And in the account department, it is almost am indispensable skill. The account department is the department responsible for the payment of salaries and benefits, giving of loans, collection of loans and balance in general. They also […]
Types of Account Receivables
Receivables are amounts owed to a company by other companies, clients, customers and other parties for good purchased and services rendered on credit, which are supposed to be paid within a specified and agreed period of time. Receivables are usually classified as current assets (assets that are expected to be converted to liquid cash within […]
What are Accounts Receivables
We live in a world of organization, and this is evident in every level of interaction we as people have with each other. From a unit as small as the nuclear family, to the wider world at large, organization is needed for survival and cohesion. In offices, this “organization” is very apparent in division of […]
Differences Between Account Payable and Account Receivable
As life goes on, we often find that we stumble upon things we need not have known earlier. Graduating from school as a science student, one might set up a business and come to the realization that knowledge in accounting and finance might be necessary. Running a business is not the only scenario where this […]
Understand a Company’s Account Receivables
Financing and running a company’s account is a big responsibility, and very appropriately, in-depth knowledge of finance and accounting is required. The daily expenses of the company, the monies being owed, the monies which are owed to the company and a host of other things have to be recorded to prevent the rundown of the […]
How could you improve your business’s account receivable efficiency?
A business will not run without the flow of cash from the suppliers and the customers. In this case, you are the business offering services or products to your customers on credit. Usually, you may have to receive the payment for a single purchase or a group of purchases after some days. This account of […]
Why should you consider using AR management software?
AR stands for Account Receivables. If you look at your accounts, the receivables will categorize themselves as asset accounts. It is because you will receive that much money from your customers or debtors who have already purchased some goods or services for debt or credit. Although AR indicates that your company has an asset receivable […]
What are the benefits of using accounts receivable software?
Account receivables mean the account containing information of the money that your debtors or customers owe to you for the purchased items or services. Usually, AR will indicate those payments for goods or services brought on credit. It plays a major role in the business’s accounts and cash flow. Any issue with this AR management […]
How One Can Effectively Manage Cash Flow
Recognize that cash flow forecasting is not just a tool. They are informed estimates that take into account a variety of variables, including your clients’ payment history, your own diligence in detecting impending expenses, and your suppliers’ patience. You should avoid giving justification that receivables will continue to accrue at the same rate as they […]
How Small Businesses Can Boost Their Cash Flow
According to the experts of business world, no company owner, and particularly no small business owner, is immune to cash flow concerns. Given the recent stock market collapse caused by the spread of COVID-19 across the United States and worldwide, small company owners’ finances are particularly precarious right now. Many firms are taking solid hit […]