Nanonets

MAY 8, 2023

If a customer calls you and asks about their payment, can you see the date it was received and deposited? If not, it may be time to rework your current accounting policies to implement audit trails. Audit trails should include key information such as what, who, when, where, and how to document each step of a transaction or event.

Auditing 52

Auditing Accounts Payable Accounts Payable Purchase Order 52

Spenmo

NOVEMBER 3, 2022

Employees will occasionally spend their own money to pay for work-related expenses—office supplies, sales calls, and meals and lodging during business trips and company events, among others. You can reimburse employees through payroll or direct bank deposit. Then, determine your mode of reimbursement.

Expense Reports 52

Expense Reports Budgeting Account Reconciliation Deposits 52

Nanonets

MAY 8, 2023

Accounts receivable can be used to offset income taxes owed, which can reduce a company's tax liability. Accounts receivable can also be used as a source of cash in the event of an emergency. If a company needs to raise cash quickly, it can do so by selling its accounts receivable to a third party.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52