There is now universal agreement that, where integration is concerned, speed is everything. Concentrate on the quick wins in the deal first (for example, sales channel integration) and slowly work towards more challenging ones (layoffs and redundancy packages for surplus employees). Even if there are synergies to be achieved through a deal, the consideration paid […]
Financial synergy undoubtedly plays a crucial role in financial decisions by improving the combined value of merging companies. It can lead to savings on costs, increased revenue, and improvements in cash flow through economies of scale, tax benefits, and better financial planning. By integrating resources and capabilities, businesses can achieve greater efficiency and competitive advantage, […]
It involves estimating the actual amount that should be in the account based on the previous account activity levels or other metrics. The process is used to find out if the discrepancy is due to a balance sheet error or theft. The account conversion method is where business records such as receipts or canceled checks […]
For example, while performing an account reconciliation for a cash account, it may be noted that the general ledger balance is $500,000. Still, the supporting documentation (i.e., a bank statement) says the bank account has a balance of $520,000. Accounts payable reconciliation makes sure that general ledger balances match those in underlying subsidiary journals. It […]
It’s very difficult to deal with one-by-one check request forms manually. If you want to keep up with the submission and approval date or process invoices and checks you need to create a check request form to streamline your workflow. Online check request forms can help you to unburden the extra paperwork and smoothen the […]
Make sure to submit it in their preferred method – by hand, mail, or electronically. This not only assists in achieving a clear audit trail but also reduces errors and time delays, which in turn helps to enhance overall accountability and financial report accuracy. Usually, the receipts must be scanned or attached, and a clear […]