An accounts payable audit is a powerful way of trawling your accounts and finding errors over the previous few years that have resulted in you being owed money. One of the worst of the issues it is good at showing up is that of duplicate payments: where someone raises the same payment details twice, whether […]
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Back in the good times it was easy to be a little lax about accounting and cash flow. Confidence was good, credit was cheap, business was easy. But then everything changed and even those companies that were strong on paper found it tricky to get a loan, and as the climate changed many found themselves […] Bacs software is a form of payment and documentation software which automates the paying and claiming of direct debits and direct credits across the entire financial sector. Any business receiving or paying direct debits or direct credits in the UK has to make sure that it has the capacity to receive Bacs payments, in order […] An accounts payable audit is a process that seeks to uncover any errors that occur within your accounts payable department. These can arise for a variety of reasons, but the nature of them is that they usually go unnoticed. The larger your company and the higher the number of supplier invoices you process, the worse […] It is a typical issue in most modern organisations, however large and successful they are – keeping control over financial transactions can present real difficulties. In order to pass audits and ensure cost effectiveness, it is very important that businesses can make payments securely and track the payments they collect. It is often the case […] Any accounts manager will understand that things don’t always add up as easily as they should. It ought to be simple in principle: incomings, outgoings, profit, loss – the figures should balance. When they don’t, you can be virtually certain of the reason why: human error. duplicate payments are easy to make when people are […] |
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