Accounts Receivable and its importance for business success.
First of all, I want to send a big greeting to all friends of steemit and especially to the members of this prestigious and wonderful #Project-Hope, today I come to share with you all this publication related to the importance of being able to have control mechanism on accounts receivable and payable in organizations, determinants for the success and future of the same..
The management of accounts payable is of vital importance, because through them, it is possible to make decisions that help to face the economic and financial changes that companies face today.
Consequently, it also allows us to expand a range of processes, including accounting, which are precisely those that would help establish guidelines focused on efficiently and effectively managing the financial information of any organization regardless of its purpose or profit-making purposes.
However, if there are any weaknesses in the management of accounts payable, the various control policies and accounting procedures are the most effective and efficient way to be able to apply the necessary corrective measures.
In such a way that a chronological record and control of invoices not paid on time can be kept and the customer and supplier portfolio can be evaluated for effective compliance with the times that allow granting and benefiting from discounts for prompt payment..
To conclude, it is necessary as well as fundamental that every company can count on a work tool that allows to maintain a rigorous control of the internal procedures of the administration of the accounts payable, using sometimes improvised schedules to carry out the supervisions and internal revisions.
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