Accounting

Controllers who neglect the importance of effective working capital management do so at their own peril, warns Judith D. Sherling, CPA, CGMA, Controller Services & Solutions, LLC (Douglas, GA).… Read More

As part of its ongoing efforts to better utilize its working capital, Walgreens is using a collaborative cash flow optimization solution that is a win-win for the retail giant and its worldwide

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AP Automation In a recent survey of more than 160 companies worldwide, the Aberdeen Group found that businesses adopting electronic channels have been able to achieve a 16 percent decrease in

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By Mircea Stanciu, Finance Controller, BIC One major objective for any company is optimizing cash flow—and having cash available in the right amount and at the right time. Your sales may be

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Whether public or private, all companies are subject to financial audits—and major headaches await those who are ill prepared. By putting a relatively simple preparation strategy in place,

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One of those horrible words every AP manager hates to hear is “audit.” It means extra work and some young hotshot going through things with a fine-tooth comb, looking for something wrong. AP can

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GRIR (goods receipt / invoice receipt): This clearing account is used to clear receipts against

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In most companies assets require additional accounting—depreciation schedules, perhaps numbering,

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The liability account reconciliation is handled outside of AP, usually by the general ledger

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For PO's received-not-invoiced, AP should be booking an accrual to the GL number for each line

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