Why enterprises need cash management. What is the purpose of having a well defined cash management process?
Cash is a company's most important liquid asset and controlling and managing cash is one of the most important areas that a company needs to focus on.
It is very important that it is properly controlled, managed and available for the company to meet its obligations.
Effective cash management ensures the timely provision of cash resources necessary to support the company's operations.
Controls are built for cash management to optimize enterprise-wide liquidity and ensure that cash is accounted, safeguarded and reported correctly.
Many different accounts are used in finance. Understand the representation and nature of clearing account in context of accounting, finance and ERP Systems.
Cash Management - Integrations
Cash Management integrates cash transactions from various sources like Receivables, Payables, Treasury and creates reconciliation accounting entries after matching transactions with Bank Statements.
What is Invoice to Cash Process
In this article, we will explore the business process area known as; Invoice to Cash; Also known as I2C. Learning objectives for this lesson are: Meaning of Invoice to Cash Process; Sub Processes under Invoice to Cash; Process Flow for Invoice to Cash; Key Transactions Fields; Key Setups/Master Data Requirements.
What are the various sources of cash in an organization. Which sources increase the cash available with the enterprise and which sources results in outflow of the cash? Let us explore!
The Cash Clearing process enables you to track amounts that have actually cleared your bank. Till reconciliation happens the amounts are parked in 'Cash Clearing Account'.
In the previous article we talked about the meaning of the account reconciliations. Now as you now the definition of account reconciliation, in this article let us see why it is carried out.
Before we dive into cash management, let us fist understand what we mean by cash and what constitutes cash in context of cash management process.
Bank Reconciliation is a PROCESS to Validate the bank balance in the general ledger With Bank Statement. Learn the bank recon process.
Have you ever wondered what is actually a Bank Statement and why it is needed. What is the information that is available in a bank statement?
Disbursement Float is the time taken from payment creation to settlement. Collection float is the sum total of time taken by Payment Float; Mail Float; Processing Float and Availability Float. Learn more!
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