Archives: Countly Learning
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 […]
Key Performance Indicators (KPIs) for Businesses in India
In the current dynamic business landscape, particularly in developing economies such as India, it is imperative to ascertain the level of success of a corporation. KPIs are quantitative measures of how successfully a company is accomplishing its primary objectives. These objectives may have to do with revenue, client happiness, productivity, or even worker performance. Indian […]
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 […]
Accounts Receivable Management: Meaning, Importance, Objectives, and Best Practices
Accounts receivable management is considered an integral part of the business, irrespective of its size. This function provides the surety that the customer pays for the products or services that they received within the allocated time period. It directly affects the company’s cash flow, working capital, and profitability. What is Accounts Receivable Management? Money fuels […]
The Role of Revenue Management in Accounts Receivable
Management of finances plays an important part in the field of business. Inside, there are two key elements: first, revenue management, and second, account receivable (AR) management. If these elements are not handled with care, then the company will struggle to run cash flow smoothly, which will result in numerous problems for the business. What […]
Credit policy and Procedure
What is Credit Policy? Credit administration is the nucleus of the lending organization. They are used to know about the entire credit procedure and also make certain that the loans are given only to the minimal-risk customers. It also provides help to the banks in the case of a loan overdue to recover the amount […]
How can we determine a customer’s creditworthiness?
Lending credit to needy customers is one important factor in enhancing trade and business growth. Trade credit, or the agreement between the company and customer that deals in purchasing goods and services on the basis of the pay-later method, is normal in B2B businesses. It is a method that will improve the count of sales […]
Customer Relationship Management in India
In the competitive business environment of today, having a game-changing product is insufficient. Strong client connections are essential for survival, particularly in a dynamic market like India. Customer relationship management, or CRM, may help with that. In a market with as much diversity and speed as India’s, managing customer connections is essential. CRM supports customer […]
How to Negotiate with Vendors
Vendor negotiation is all about getting the most out of your business relationships without burning bridges. Whether you’re trying to lower costs, improve terms, or just build a long-term partnership, knowing how to negotiate with vendors is a game-changer. So, let’s dive into what vendor negotiation really means, the skills you need to crush it, […]
Prioritizing Payments in India
The management of payments in any business is not limited to the payment of invoices. It is a method. Whether a business remains solvent or falls into debt can be determined by the prioritization of which payments to make, when, and why. In India, the ability to prioritize payments is essential due to the country’s […]
Everything You Need to Know About Collection Agencies in India
Debts that aren’t paid are a big problem for companies. Any company can have major money problems if they don’t pay back loans or bills that are past due. That’s where debt collectors come in. What do they do? To find the people who owe money and get it back as quickly as possible. We’ll […]
How to Deal with Discrepancies in Accounts Receivables
Managing accounts receivable may appear like a simple task: issue the invoice, get payment, and move on. However, things are rarely so easy in practice. Errors occur. Payments are made later than scheduled, invoices and payments don’t match. These are known as inconsistencies, and if you don’t take prompt action, they can negatively impact your […]
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 […]
Account Receivable Aging Report: Meaning, Importance and Its use
Running a business means keeping track of various financial numbers to stay stable and avoid chaos. One of the key things to manage is accounts receivable, especially for businesses offering credit to clients. This is where the Accounts Receivable (AR) Aging Report steps in, acting like a financial watchdog to keep your cash flow in […]