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Managing Prepaid Expenses

Prepaid Expenses Avoiding prepaid expenses can help you in enhancing and maintaining a favorable cash flow. Prepayments generally occur when the period for which a certain payment is made, wholly or partly overshoots an accounting year. Subscriptions, vehicles licenses, all types of insurance payments, local rates and taxes, rents, leases and royalties comprise the most […]

Managing Fixed Assets

Every business needs to have some form of fixed assets to different extents. It would be at peak especially in the organizations in the transportation and manufacturing sectors. Acquisition of fixed assets is a long-term investment that causes a big strain on the liquidity of an organization. Therefore, acquisition of fixed assets should be limited […]

Managing Accounts Payable & Accrued Expenses

The fact that accounts payable represent outgoings generally regarded as disadvantageous. This does not imply that it need not receive an organization’s attention as much as accounts receivable. A properly managed system of accounts payable would ensure among others, avoidance of duplicate and erroneous payments, continuance of supplies without interruption and procurement of supplies at […]

Accounts Receivable:Use Collection Agencies if Necessary

When a creditor organization exhausts all the normal avenues open to it for collection of a debt that has fallen long overdue with no prospects of any further recovery freely and economically, the time is ripe to outsource that debt or debts. Presuming that the creditor organization is no longer interested in pursuing the collection […]

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