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It includes order management , credit management , order fulfillment , invoicing, accounts receivable, payment collection, and data management. Additionally, an optimized OTC process promotes faster payment collection, improves cash flow, and drives revenue growth.
Cash reconciliation is a fundamental accounting practice designed to ensure the amounts recorded from sales transactions accurately reflect the cash, checks, and other payment forms collected through a Point of Sale (POS) system. Recording the starting cash amount in the drawer, itemized by bill and coin types.
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