Taking costs out of a business can be deceptively easy to do — at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings. However, these savings are often not...
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Paying your company debts is just as important as collecting your own accounts receivable and they need just as much management. The good thing is, you actually have a surprising amount of control over how and when your company’s debts are paid and that provides several advantages.
Segregating duties to prevent fraud and reduce weak controls is not always easy, especially when you have a small accounting department. However, there are some simple internal controls that are often over looked that you can put in place to eliminate some risk.