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11 Key Month-End Tasks to Include in Your Checklist A period-end process refers to the end of every accounting period, monthly or annual, when a business generates financial reports to help analyze its financial health. For this to happen, it must organize and perform accountreconciliations for the period.
Users can categorize expenses, reconcileaccounts, and generate reports all from QuickBooks. Supporting your accounts receivable team starts with getting the right tools for success. With Chaser, AR experts can conduct customer credit checks, track key AR metrics like AR turnover , and even recover late payments from customers.
BILL, which used to be known as Bill.com, is a financial operations platform that gives businesses the tools to manage AP, AR, spend, and expense automation all in one place. The platform is geared toward AP and accounting professionals, so for vendors or other users, it can be confusing and hard to use.
Your vendor’s AR team must also spend time getting the money back to your company in the form of a credit. Since duplicate payments cause more work for your vendor’s AR team, this mistake can strain vendor relationships. Increased visibility also simplifies accountreconciliation. Strained Vendor Relationships.
Accounts payable (AP) is a challenging job that demands professionals to juggle numerous tasks simultaneously, from data entry to accountreconciliation to monthly reporting. It requires meticulous record-keeping, effective communication and project management skills. But prior to that, I was a customer for 20 years.
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