The receivable accounts refer to the outstanding invoices which a company has or the money which the consumers owe to the company for the services or products sold. Many companies are trying to increase their profits by allowing some percentage of overall annual revenue to be on credit. A business will provide this form of credit line to frequent or special customers, who are frequently invoiced
Effective cash flow control is essential to a company of any scale. Accounts receivable management is an important task in the process. Accounts receivable services are the money that consumers owe to the business for the selling of products or services that are provided to them. They are the profits of a business and help them take care of their costs, making their management essential and required.
Although the overall act of receivable services for accounts can seem straightforward, it can become complicated, requiring invoicing and even extending credit to clients. Considering the amount of business, the number of customers and the terms of the arrangement, it might be appropriate to provide a mechanism for handling unpaid amounts of money.
A business entity may engage as a business activity in the selling of services or products. Customers buy from the company these services or products and pay the negotiated price for that service or product. Today, there are various payment solutions that a company can deliver to its customers. It may obtain cash or wired transfer from its customers and the company may, in some cases, sell its services or product on credit.
➲ For maintenance of cash flow
➲ Helps in Keeping records of creditors
➲ It helps I smooth maintenance of financial of business entity
➲ Helps in meeting or regulatory requirement like maintenance of books
➲ Helps in Keeping records of vendors account
➲ Helps in duplicate payment
➲ Helps in the maintenance of financial control
Step 1. Receiving of Soft copy of the receivable invoice
Step 2. Matching of Sell order with Invoice
Step 3. Processing of Credit memos
Step 4. Preparing and processing of the report
Step 5: Alerting or escalating of the wrong of false transaction
Step 6: Monthly, Quarterly or yearly comparative report
➲ Less costly
➲ No need for physical hiring
➲ Effective and efficient work
➲ Timely reporting
➲ Work as per your convenience
➲ Virtual books and records
We recognize that the cycle of accounts payable receivable is crucial to maintaining successful supplier relationships and cost optimization. So at Corpzo we are actively working to increase productivity and help you cut costs. Our account payable services aid in the smooth management through monitoring and recording of accounts payable process flows. We help companies make prompt receiving to help them take advantage reduction in bad debt and improve operational performance. We will provide receivable service and help you to:
➲ Fulfill your regulatory requirement
➲ Cost optimization by timely payment of bills and avoiding interests
➲ Working capital optimization
➲ Reduces duplication of payment
➲ Help you in financial control
Corpzo will help you in the conversion of your paper company into live online data to help you get as many reports as you can by concentrating on automating accounts payable process flow through people and soft goods mix. Daily aging reports can provide you with a better understanding and decision-making.
Accounting is a draconian subject and includes various sub-sets under its ambit. like financial accounting, management accounting, general accounting etc. These categories represent a specific type of activity and underlying applicable standards defining
When a business purchases on credit and that needs to be repaid over a limited period of time, it is known as Payable Accounts. It is termed as a liability and falls under the heading of' current liabilities.' Accounts Payable is a short-term transfer of
The receivable accounts refer to the outstanding invoices which a company has or the money which the consumers owe to the company for the services or products sold. Many companies are trying to increase their profits by allowing some percentage of overall
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