ACCOUNTS PAYABLE MANAGEMENT AND PROFITABILITY IMPACT

Hello there,

When you are a bookkeeper who is working with a business owner who doesn’t pay attention to the financials, you need to be extra cautious. The first thing I prioritise during my daily tasks is the payment of bills. It means that I have look at the purchase orders match them with the invoices received and send them for approval. Once I get the approval, I make the payment before the due date so that the business does not have to face penalties of late payment. Also, I make sure that I have a good rapport with the suppliers so that they offer cash discounts which help in improving cash flow. Here is an article that will tell you all about accounts payable management and profitability impact.