LearningCat: Accounts Payable Management
Accounts Payable Management
Companies all over the world feel the pressure as they are eager to increase their efficiency and reduce waste to stay consistent in the market. Working capital is a constant requirement for businesses. It is required to have a financial strategy to untrap the cash from the balance sheet, a financial strategy is required. Freeing […]
Role of Cash Flow in Accounts Payable
Role of Cash flow cannot be overlooked as it is considered as an indispensable part in Accounts payable. Accounts payable is intrinsically tied to the business’s financial durability. It involves the amounts due to vendors, suppliers, and other shareholders for goods or services. Fundamentally, it’s the remaining credit a company demands to resolve. What is […]
Fraud Prevention in Accounts Receivable Management in India
Fraud in accounts receivable (AR) management is no joke. It’s a massive problem, and if you’re not careful, it can rip your business apart. India’s business scene is growing fast, and with that comes more complexity and a higher risk of fraud. Whether you’re running a small business or managing a large company, fraud in […]
Segregation of Duties in Internal Controls for Indian Businesses
One of the main internal control principles that aids businesses in preventing fraud, mistakes, and asset abuse is segregation of duties, or SoD. To put it plainly, it implies that no one individual should be in charge of every stage of an important transaction. Businesses lessen the likelihood that someone may conduct fraud or make […]
Fraud Prevention in Internal Controls
Fraud isn’t new. It’s been around for centuries, but it’s a growing issue for businesses in India. With companies expanding, risks like financial fraud and employee scams are skyrocketing. Whether it’s a small startup or a major corporation, no one’s immune. And if a company doesn’t have strong internal controls in place, they’re asking for […]
Regular Reconciliation in Internal Audits
Internal audits play a crucial role in thoroughly examining a company’s financial status. Reconciliation, a crucial procedure in this process, involves estimating two ledgers to verify their accuracy and identify any discrepancies. Not only is this a tedious task, but it’s also one of the most crucial aspects of handling money. Given the increasing complexity […]
Days Payable Outstanding (DPO)
Any organization’s accounts payable section shows the total amount of the money that the business needs to pay to the suppliers for goods and services received but not yet paid by the business. Days Payable Outstanding shows how long it usually takes the company to settle these supplier invoices. What is Days Payable Outstanding? Days […]
Cost Per Invoice in India
In India, businesses are scaling up quickly. This necessitates that businesses closely monitor their expenses. Most of the businesses overlook the cost per invoice. Cost per invoice is the total amount that a business uses to process an invoice, i.e., the cost incurred from the moment it is generated until the time when the payment […]
Best Practices for Segregation of Duties in AR
When it comes to managing money in a business, especially in areas like accounts receivable, you can’t afford to cut corners. One simple mistake or act of fraud can cost a company big time. That’s why having proper checks in place is essential. One of the key controls to prevent both fraud and mistakes is […]
Vendor Onboarding Process
To run a successful business, acquiring the right kind of method of vendor onboarding plays a great role. For smooth business operations, this process helps suppliers meet your standards with less risk. An efficient onboarding process not only saves your time but also helps businesses to dodge the costly mistakes, develop sustainable relationships, and trust […]
Vendor Payment Terms
Negotiating payment terms with vendors is one of those things every business has to deal with, but few actually master. In India, where cash flow can be unpredictable, getting the payment terms right can save your business from financial headaches. It’s not just about haggling for the lowest price—how and when you pay vendors can […]
Mastering Vendor Relationship Management in India
The goal of vendor relationship management, or VRM, is to establish and preserve a solid working relationship with your suppliers and service providers. Managing vendor relationships is essential for a seamless supply chain, consistent quality, and long-term success in a fast-paced business climate such as India. Here’s a discussion of how to handle Indian merchants […]
Invoice Verification in India
Invoice verification is not an insignificant problem that can be left unattended. It is a very vital process that helps in safeguarding your business against fraud, controlling the financial flows, and helps dealing with the tax regulations of India, which are dynamic in nature. This means that, if you’re not good with number crunching, your […]
Matching Purchase Orders with Invoices
Matching Purchase Orders with Invoices Invoice matching is usually neglected, but it is one of the important processes in the business. In an organization, the accounts payable department established the flow of the funds. It is the obligation of the accounts payable department to be experts in the invoice matching. This blog provides you with […]
Tackling Invoice Discrepancies in India
Tackling Invoice Discrepancies in India In the fast-paced business world of today, it’s important to keep track of all financial activities to keep your cash flow healthy. Managing invoices is a very important part of this process. But in India, businesses in all kinds of fields have to deal with problems where bills don’t match […]