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Payables and receivables are key concepts in accounting that relate to a company's financial transactions. Here are some major differences between the concepts. #accountingconcepts #payables #receivables
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Beyond Costing & Inventory Business Management β’ by Encouraging Business Owners & Users to Rethink Relationships, Costing & Inventory ------- FAQs Q: How can businesses ensure sustainability in their costing and inventory practices? A: Businesses can prioritize sustainable sourcing, reduce waste, and incorporate eco-friendly practices in their costing and inventory management. Q: Are there risks associated with rapid technology adoption in costing and inventory management? A: While technology brings benefits, businesses should consider potential risks, including data security and the need for employee training. Q: How can businesses balance the need for cost reduction with the importance of maintaining quality in their inventory? A: Striking a balance involves optimizing processes, leveraging technology, and collaborating with suppliers to ensure cost-effectiveness without compromising quality. Q: What role do partnerships with suppliers play in the paradigm shift in costing and inventory management? A: Collaborative relationships with suppliers are crucial for ensuring a smooth and efficient supply chain, minimizing disruptions, and fostering long #costmanagement #costaccounting #jobcosting #costmagement #supplychain #p2p #erp #crm #payables #receivables #generalledger --- Read more---> http://simcllc.com/2024/02/29/beyond-costing-inventory-business-management/
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To improve your cash flow, managing your payables is key. Make sure to stay on top of payments, negotiate longer payment terms, and consider early payment discounts. π₯ #cashflow #makemoremoney #smallbusiness #cfo #payables
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Feeling overwhelmed by a growing mountain of bills? Don't worry, Swipey is here to make payables a breeze! Here's how to make the best out of Swipey's bill payment feature. #Swipey #Bills #Payables #BillPayment
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Projecting cash flow involves estimating the cash inflows and outflows for a specific period, typically on a monthly or quarterly basis. Here we give you a step-by-step guide on how to project your cash flow. By following these steps and regularly updating your cash flow projections, you can better anticipate and manage your cash flow, identify potential cash flow gaps or surpluses, and make strategic decisions to support your business's financial health and growth. If youβre having difficulty projecting your cash flow, contact us at [email protected] or callπ246-284-8399, let us help get you organised. #cashflow #projection #project #stepbystep #guide #manage #cash #cashinflow #cashoutflow #accounts #receivables #payables #monthly #quarterly #yearly #anticipate #financialhealth #business #surpluses #strategic #decisions #potential #WCI
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Private organizations typically bear the responsibility of making payments to various entities in the supply chain, as they require raw materials and associated services to deliver quality finished products to their end users. But the more the number of entities whose services the company avails, the more is the due payment. Keeping track of who needs to be paid and by when can be a major hassle, especially if the company is expanding. This is where #Zuron takes over and makes the process incredibly efficient. Hereβs how we help with #payables: β Processing of #Invoices: Once you upload approved invoices on the system, Zuron processes the amounts payable and automatically carries out the payment on the due date. β Intimation in case of delays: In case of any payment delays due to an unavoidable circumstance, buyers can easily update the payment date. Vendors are informed immediately of such changes, so they know when to expect the amount. β #ERP integration: Our #FinTech application easily integrates with your existing ERP software, reducing the manual efforts involved in ERP integration. β Easy-to-use interface: Our software interface is incredibly easy to use and doesnβt require any prior technical expertise. #ZuronIt #GoDigital #Digitization #DigitalIndia #SupplyChain #Finance #FinanceManagement #Bank #NBFC #Technology
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With the perception of money rapidly changing across the globe, one needs financing models that are quick, efficient, and modern. From facilitating timely payments to connecting the different stakeholders in the borrowing and lending process to one another, a #FinTech app like Zuron makes lives easy in a gazillion ways: β Payables: Private companies and factories manufacturing finished goods for their end users need to buy raw materials, equipment, etc. from spokes and other manufacturers. But managing all the #payables can become a challenge for them, especially if they are large-scale organizations. With Zuron, they can easily track their payables and ensure that they pay all the stakeholders on time. In case of delays, they can update the due dates on the app, so that the suppliers are informed beforehand. β Receivables: Conversely, spokes, manufacturers, distributors, etc. need to receive timely payments to carry on with their business efficiently. With Zuron, all they have to do is upload their approved invoices, and they know exactly when their payments would be made, making the #Receivables process extremely streamlined. β Dynamic discounting: Zuronβs #DynamicDiscounting feature allows its users the flexibility to choose how they would like to make their payments - through their treasury funds or bank funds at an invoice level, depending on their requirements. Such flexibility makes the app extremely convenient for all entities involved. Besides these direct services offered, Zuron also provides a platform for various stakeholders to stay connected to each other in real time. Being a #CloudBased platform, it ensures that suppliers, buyers, borrowers, lenders, and banks and #NBFCs can access the platform from anywhere across the globe. #SupplyChain #SupplyChainIndustry #SupplyChainSector #Supply #Demand #Finance #FinTech #Technology #Tech #Business #BusinessProcess #Digitization #DigitalPlatform #Financing #Discount #Discounting #Payable #Receivable #GlobalSupplyChain
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