Streamline Accounts Receivable process is essential for a company to manage and collect the amount of money owed by its customers for the purchases made on credit. This process is critical for maintaining healthy cash flow and preventing bad debt, which directly...
Every business has multiple that control and optimise the business process in various ways and improves profitability. While the ultimate purpose of your business is to analyse the profitability, cost centres can help herein by centralising the function and...
Every corporate operation, including payroll, is governed by a set of rules and regulations. If you’ve been managing your employees’ payroll in India for a while, you’ve probably heard of Employee Provident Fund (EPF) and Employees’ State Insurance Corporation (ESIC)...
What Are Accounts Payable? Accounts payable represent an account within the general ledger that refers to a company’s commitment to pay off current liabilities to its vendor. In other words, accounts payable are unsettled amounts owed to suppliers for services or...
“Closing the books” is a term that will constantly circle around the accounting world regardless of digitalization. Yet, many people still get confused about this phrase. When speaking of “closing the books”, – “Books” refer to the business’ summary reports related to...
