account management

Account management begins with a  well maintained accounting system. This gives users the ability to run reports that accurately reflect the accounts payable and receivable by the business.

What can you do with this information

  • reconcile to supplier statements
  • prioritise creditors
  • create aba files to pay creditors
  • collect amounts outstanding from debtors
  • forecast cashflow
  • reconcile cash at bank and loan accounts

Gone are the days of pulling out a calculator to add a pile of paper up to see if you have enough available funds to pay creditors, or looking through your bank statement to see if an invoice you issued 3 months ago has been paid.

Effective use of accounting software used by someone knowledgeable in using it, can streamline all these processes.

 

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