To efficiently run a business, it is quite important to have reconciliation process in the end of each month. The cash secured in your account is the valuable liquid asset for the business. That cash could be easily misused or theft in case it is not secured in the proper manner. In order to know how to handle the accounts book, you should analyze practices that are unbalancing or affecting the account management. Doing so ensures a flexible and better account handling through the complete month.
Following are the Points that Ensures a Flexible and Good Account Reconciliation Process for the Business –
• Removes accounting errors
• Simplifies bill paying
• Secures deposits of business
• Saves money
• Helps in analyzing not authorized transactions
• Taxes and bank fees deduction
• Disparity owing to depositing amount
Features of Cloud Arcs –
• Compliance tracking
• In-built approvals process
• System agnostic
• In-built workflow and collaboration
• Based in role work areas
• Reduced costs
• Removes spreadsheet costs
• Ensures entire data integrity
ARCS can be entirely integrated with a wide range of EPM suite. Google docs and Microsoft Office are two system requirements for this.
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