Keeping track of accounts is one of the hardest, and most important, aspects of South African business owners. Ensuring that both money that you owe and are owed goes far beyond simply paying for goods and receiving the same from customers, it’s about relationships and keeping those on track as you navigate your business to success.
While managing accounts payable and accounts receivable is critical to your business’s success many small business owners struggle to best manage them.
Managing them both starts with the basics and the following also assists in success:
- The impact of accounts payable and accounts receivable on your business
- Tracking invoices and payments;
- Identify delinquent accounts
Accounting software helps you keep track of all of the above, and simplify your operations.