Bank reconciliation: This is how to save time on this vital task
Bank reconciliation is a core task for business owners and finance managers. Here's how to do it properly so you have superb insight into your finances.
In a rapidly changing environment, how can you grow your manufacturing business, control costs and increase profitability?
In the past, Enterprise Resource Planning (ERP) software was very effective. Today, Sage X3 software helps you control business operations, ensure consistent quality and take advantage of new sales opportunities.
Radically simplify your operations to get the most out of valuable resources.
Manage your entire process manufacturing operation faster and more effectively.
Henry Mizrahi, president
Lester Foods
Recent legislation in many parts of the world has given government agencies greater power to intervene in manufacturers’ operations and more easily demand product recalls and withdrawals.
Moreover, consumers are becoming ever more demanding of manufacturers, ready to react as soon as their expectations are not satisfied and able to raise their concerns instantly, and very publicly, through modern communication technology. As a result of these factors, product recalls around the world are becoming more and more frequent, and manufacturers are facing major disruption, damage to reputation and overall financial liability.
Gaining detailed insight into your business can be challenging in the best of times, and manufacturers who lack complete, accurate and up-to-the-minute data face significant challenges to making timely decisions. Which product is the most profitable? Which supplier experiences the longest delays? How much cash is tied up in inventory surplus, and how much could you invest in growing your business? Without the answers to these questions, many businesses end up making poor strategic decisions and costly mistakes.
Managing supply chains is a constant challenge for manufacturers. In addition to staying on top of key factors, i.e. costs, demand forecasting, production downtime and inventory surplus, supply chain partnerships are continually changing. What happens if your supplier’s shipment has been delayed? What if supply costs increase without warning or quality changes? Without a fast, accurate method to track progress or communicate, you may be unable to avoid production downtime or plan an alternate manufacturing schedule without hurting your business.
Bank reconciliation is a core task for business owners and finance managers. Here's how to do it properly so you have superb insight into your finances.
Here’s the bottom line: If you want to get paid for any services you provide, you’re going to need to supply your customers with an invoice. Consumers expect documentation of their payment. If you’re looking for an invoicing solution that takes away all of the complexity of our more specific templates, our free simple invoice […]
How can you be sure the work and resource you’re investing into your business is having a direct impact on your growth and bottom line? You need to get visibility into your business. You need to see not just the bottom line, but everything above it. But it’s hard enough to get the information in […]
Business on mobile is a boom industry: in the first quarter of 2021, the Amazon Appstore showed a 108.98% increase in business apps. By comparison, the second biggest-growing app category—social networking—grew by just 6.86% in the same period. As mentioned above, you can do your business accounting using an app. It’s important to realise what […]
Selling doesn’t always come easily to accounting professionals, who may be more comfortable with the technical aspects of their work. But selling is a fact of life for any business, so it pays to explore techniques to make the process easier. If you have an effective sales strategy in place but your sales aren’t picking […]
