Did You Know? The first accounting software was developed in 1978 when Visicalc and Peachtree Software were introduced. Visicalc was the first spreadsheet software that enabled financial modeling on the computer, while Peachtree Software was an accounting software package for the early personal computer.
Working capital is a critical aspect of any business for the smooth running of its operations and is an indicator of the financial health of a business.
Chasing unpaid invoices can be a time-consuming, stressful and frustrating process for any business. In addition, mounting debt and unpaid customer invoices can cause cash flow constraints for the company as it will be unable to meet its working capital needs.
Optimizing of accounts payable processes can enhance the accuracy of your cash flow forecasts, improve liquidity, mitigate potential funding gaps, and realize higher profits as it increases the efficiency and effectiveness of operations, facilitates reliable financial reporting, and ensures compliance with laws and regulations.
Did you know: The first written text in history was done more than 5,000 years ago and is believed to have belonged to an Accountant who was making a record of supplies. It read, “A total of 29,086 measures of barley were received over the course of 37 months. Signed, Kushim.”
Would you like to stand out from your competition, cut costs, improve your cash flows, or take advantage of strategic opportunities available to your business?
Outsourcing involves contracting a third party, specialized in a particular field, to take care of certain tasks in your business, so that you can focus on your core activities.
The coronavirus pandemic has caused much disruption in business, pushing organizations to drastic action to survive and thrive. Firms in face-to-face service industries and the transport industry have especially been affected due to stay home and social distancing measures put in place by governments around the world.
Financial reporting is a very important aspect of running your business. When done properly, the figures presented are useful in analyzing the financial performance of your business, thus becoming more successful.
Internal controls are policies are procedures put in place to ensure continued accuracy and reliability of accounting systems. They are put in place to enhance financial integrity, control errors, and prevent fraud.