Accounting Tools

JUNE 8, 2023

Another control is to reconcile the balances in accounts to the supporting source documents to see if either some documents have not been recorded, or if some transactions recorded in the accounts do not appear to have any supporting source documents.

Petty cash 76

Petty cash Invoicing Bookkeeping Reconciling 76

Accounting Tools

JUNE 8, 2023

Customers generally prefer to receive invoices from a supplier on a consistent date, which makes it easier for them to plan their outgoing cash payments. Consequently, the choice of billing cycle must balance improved cash flows against customer service.

Billing 40

Billing Accounts Receivable Account Receivables Accounts Receivable 40

Accounting Tools

MARCH 5, 2024

An extreme scenario is that the company maintains no inventory at all, and instead only places orders for inventory from suppliers after it has received payment from customers. A high level of customer service can correspond to a substantially higher investment in inventory.

Customer Service 40

Customer Service Reconciling Accounting Accounting 40

Trade Credit & Liquidity Management

APRIL 25, 2025

The department touches on processes involving sales, operations, customer service, accounting and finance, and treasury. There is a definite return on the customer visit travel investment. Let the customer meet you face to face. If you are able, include the staff member responsible for the customer.

Collections 52

Collections Customer Service AR Reconciling 52

Nanonets

APRIL 12, 2023

However, there is no one-size-fits-all definition for tail spend across different businesses or within the same organization. Tail spend can have various definitions, ranging from maverick spend to misclassified purchases.

Petty cash 52

Petty cash Invoicing Reconciling Customer Service 52

Nanonets

SEPTEMBER 22, 2023

Sales orders are used for goods and services, while invoices are typically used for services but can also be used for products. Sales Order Meaning and Definition A  sales order  is a document filled out by a customer, typically indicating their intention to purchase goods or services from a business.

Invoicing 52

Invoicing Deposits Record Keeping Financial Records 52

Nanonets

JANUARY 17, 2024

Handling exchange rates, compliance with foreign regulations, and reconciling multicurrency transactions require specialized tools and expertise. Dealing with multiple vendors for expense management software, payment processing, and other related services can be complex. This might seem elementary, but ambiguity leads to confusion.

Expense Reports 52

Expense Reports Budgeting Data Entry Auditing 52