In this article, we outline just what an accounting cycle is, plus the 9 essential steps required to maintain accurate financial records. What is the accounting cycle? The accounting cycle is a systematic process that businesses use to record, classify, and summarise financial transactions. This cycle ensures that financial statements are accurate and complete, providing […]
Understanding the Accounting Cycle: 9 Essential Steps 阅读更多 "
Query management in accounts payable refers to the systematic handling of enquiries and disputes related to invoices, payments, and other financial transactions. These queries can come from suppliers, internal departments, or other stakeholders. They may involve issues such as payment discrepancies, missing invoices, or clarification on payment terms. In a modern accounts payable environment, query
Does query management play a role in your accounts payable solution? 阅读更多 "
The Order-to-Cash (O2C) cycle is crucial for maintaining healthy cash flow and ensuring business operations run smoothly. However, inefficiencies in this process can lead to delays, lost revenue, and customer dissatisfaction. Here are seven signs that your O2C process may be deficient and in need of improvement. 7 Red Flags To Watch For In Your
Is Your O2C Process Costing You? 7 Red Flags to Watch For 阅读更多 "
A purchase order (PO) is a critical document in procurement, formalising the agreement between a buyer and a supplier. It clearly defines what the buyer intends to purchase, including quantities, prices, and delivery terms. Here’s a breakdown of how to create a purchase order. How To Create a Purchase Order 1. Identify the Need The
Our poll results indicate a significant shift toward automation in accounts payable, with over half of the respondents already utilising automated processing. This trend reflects the growing recognition of the benefits that automation brings to accounts payable, including increased efficiency, accuracy, and visibility. For those businesses still on the path to automation or relying on
Automated Processing in Accounts Payable: Is Your Business Using It? 阅读更多 "
Accounts payable uses multiple internal control processes to verify and approve invoices. One of the methods is three way matching. This process involves matching three key documents together: the purchase order (PO), the receiving report, and the supplier’s invoice. In this blog, we look into how it actually works so that we can understand its
The Importance of Three Way Matching: A Guide for Businesses 阅读更多 "
