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⚠️ Signs it’s time to outsource your reconciliations: 1. Financial reports don’t align 2. Incomplete records 3. Lack of time to address backlogs CP Franco Accounts & Finance Ltd can take it from here—efficiently and accurately. #OutsourceAccounting #ReconciliationHelp #FinancialClarity #CPFrancoFinance #AccountingSolutions #FixYourBooks #StreamlinedFinances #ReconciliationExperts #BacklogSolutions #AccurateReports #FinancialAlignment #EffortlessAccounting #BusinessFinanceSupport #ProfessionalReconciliation #TimeToOutsource

🔵 𝐇𝐨𝐰 𝐭𝐨 𝐌𝐚𝐧𝐚𝐠𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐑𝐢𝐬𝐤𝐬 𝐢𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐑𝐞𝐜𝐞𝐢𝐯𝐚𝐛𝐥𝐞? ❖ Effective AR management is crucial for maintaining financial health. Explore the key analytics that help mitigate risks and ensure stable cash flow. ◦ Debtors Age Analysis ◦ Debtor Balances vs. Credit Limits ◦ Debtors with Credit Balances ◦ Outstanding Debtors > 60 Days ◦ Customers with No Credit Limits ◦ Changes to Customer Credit Limits 🎞 𝑭𝒐𝒓 𝒎𝒐𝒓𝒆 𝒅𝒆𝒕𝒂𝒊𝒍𝒔 𝒂𝒏𝒅 𝒊𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏, 𝒇𝒐𝒍𝒍𝒐𝒘 𝒖𝒔 𝒐𝒏 𝒀𝒐𝒖𝑻𝒖𝒃𝒆 𝒂𝒏𝒅 𝒘𝒂𝒕𝒄𝒉 𝒎𝒐𝒓𝒆: https://lnkd.in/du6yqsxT #FinancialRiskManagement #AccountsReceivableRisk #ARRiskManagement #FinancialSecurity #ReceivablesStrategy #CreditRiskMitigation #RiskInFinance #CashFlowManagement #ARBestPractices #FinanceRisk #Receivables #CreditRisk

What is account reconciliation, what benefits does it provide, and what is required to ensure an efficient and accurate process? Learn about account reconcilation in our recent article. https://ow.ly/olGr50Rjaqu #AccountReconciliation #CashFlowManagement #FinancialManagement

🌟 Daily Accounts Receivables Insight 🌟 🔍 Efficiency Tip: Regularly reconcile your accounts receivable to catch discrepancies early. This ensures your financial statements are accurate and reliable. 💡 Pro Insight: Use aging reports to prioritize collections. Focus on the oldest receivables to keep your cash flow steady. #AccountsReceivable #Reconciliation #CashFlow #FinancialAccuracy

New Post: How To Send Reminders In Business Central - https://lnkd.in/egNUVYWC Reminders are a significant help in the Accounts Receivables module. In this post, you will learn how to set up reminders, how to issue and send them manually. Also, how to create and send reminders automatically with the new update in Business Central 24. Source : Business Central Geek Read more...

💄 When you want people to listen, put on some red lipstick! Dear accountants and business owners, 📢 I need to make this loud and clear again: something that’s absolutely crucial for the health of your business is #reconciliation. ☑️Reconciliation isn’t just a box to check—it’s an essential step in your internal control processes! You might be surprised at how many mistakes you can uncover by simply doing the following: 1️⃣Reconcile your balances regularly: Compare your records with bank statements, customer and vendor statements, deposit confirmations, inventory counts and more. 2️⃣Cross-check your numbers: Use any available internal and external sources to verify other figures in your balance sheet. These practices will help you catch discrepancies early and maintain accuracy. Remember, a well-reconciled account is the backbone of a successful business! Let’s keep those numbers in check! 💪 #Accounting #Reconciliation #InternalControl #BusinessSuccess #Finance

Receivables Transaction Approval is a critical financial process ensuring accurate and timely approval of outstanding invoices and payments. It helps in maintaining cash flow, preventing errors, and improving financial efficiency. #Finance #Receivables #TransactionApproval #CashFlow #Accounting #FinancialManagement #BusinessOperations #Payments

𝑨𝒄𝒄𝒐𝒖𝒏𝒕𝒊𝒏𝒈 𝑪𝒚𝒄𝒍𝒆 𝒑𝒓𝒐𝒄𝒆𝒔𝒔. 1. 𝐂𝐨𝐥𝐥𝐞𝐜𝐭 𝐚n𝐝 𝐀n𝐚𝐥𝐲𝐳𝐞 𝐓𝐫𝐚n𝐬𝐚𝐜𝐭𝐢𝐨n𝐬: All business transactions are recorded and analyzed. 2. 𝐑𝐞𝐜𝐨𝐫𝐝 𝐚n𝐝 𝐏𝐨𝐬𝐭 𝐓𝐫𝐚n𝐬𝐚𝐜𝐭𝐢𝐨n𝐬: Transactions are recorded in journals and posted to the general ledger. 3. 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐔n𝐚𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐓𝐫𝐢𝐚𝐥 𝐁𝐚𝐥𝐚n𝐜𝐞: A trial balance is prepared to ensure debits equal credits. 4. 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐀𝐝𝐣𝐮𝐬𝐭𝐢n𝐠 𝐄n𝐭𝐫𝐢𝐞𝐬: Adjusting entries are made to ensure financial statements reflect the correct amounts. 5. 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐀𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐓𝐫𝐢𝐚𝐥 𝐁𝐚𝐥𝐚n𝐜𝐞: A new trial balance is prepared after adjusting entries. 6. 𝐏𝐫𝐞𝐩𝐚𝐫𝐞 𝐅𝐢n𝐚n𝐜𝐢𝐚𝐥 𝐒𝐭𝐚𝐭𝐞𝐦𝐞n𝐭𝐬: Financial statements, including income statement, balance sheet, and statement of cash flows, are generated.

Dear Business Owner, do you prepare schedules for key performance statements? Financial Statement Schedules: A supporting schedule is a detailed document that provides supplementary information related to specific transactions, accounts or subledgers. It serves as a kind of proof, offering detailed insights to all the numbers and data presented in the financial report. Here are some schedules you may require in preparing your financial statements 1. Trade payables schedule 2. Trade Receivables schedule 3. Related party balances schedule 4. Inventory valuation schedule 5. Bank reconciliation schedule 6. Advance payment by customers (contract liability) schedule 7. Loans and borrowings schedule 8. Contingent liability and commitment schedule 9. Fixed asset and Intangible assets register 10. Schedule of taxes paid and outstanding, and many more. These schedules of accounts ensures that the totals reported in the general ledgers, used to prepare the financial statements are accurate and supported by detailed records. Accuracy is vital for preparing reliable financial statements.   #FinancialStatementsSchedules #SupportingSchedules #Accuracy #ReliableFinancialStatements #Documentation #SCEjikonye.Co

Accounts payable - This refers to the amounts a company owes to external suppliers for goods or services it has purchased. Accounts receivable - This represents the amounts that customers owe to the company. Accrual basis (system or method) - This is an accounting method where revenues and expenses are recorded at the moment a transaction takes place, rather than when cash is exchanged. For example, if you buy a coat on credit, the store will record the sale when you leave with the coat, not when you actually pay the bill. The cash basis is generally used by individuals, while most businesses use the accrual basis of accounting. #Finance #Accounting #Fintech #FinancialPlanning #Investment #TaxTips #PersonalFinance #AccountingTips #WealthManagement #FinancialLiteracy