Tag Archives: limited resources

What are accounts payable? – part 2

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Structured similarly to A/R, ACCOUNTS PAYABLE is another subledger that feeds the general ledger with summaries of more detailed information. Information about disbursements flows through the ACCOUNTS PAYABLE system from sources both within and outside the company and travels up to the general ledger to become part of your company’s overall financial picture. A well-designed [...]

guidelines your collection staff should follow when dealing with debtors – part 3

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Elicit a promise to pay by a certain date. Debtors, like everyone everywhere, work better with a deadline. If it’s a due date mutually agreed to by the company and the debtor, the joint ownership often will elicit greater allegiance toward the company than it will for others waiting for payment. If the debtor’s resources [...]

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