The importance of having well defined accounts receivable controls.
First of all, I want to send a big greeting to all friends of steemit and especially to the members of this prestigious and wonderful #Project-Hope, today I come to share with all of you this publication related to the importance of being able to have effective control processes of accounts receivable.
The objective of accounts payable control is to keep all the company's payments up to date to take advantage of discounts for prompt payment instead of paying interest for not making payments in a timely manner, as well as having the merchandise when required by the company without setbacks so that it can continue its operations..
Achieving the objectives in this area can be accomplished by implementing a series of controls and processes, which will develop a correct and adequate control system.
Therefore, control procedures are established in order to achieve the proper authorization of transactions and activities, adequate segregation of functions and responsibilities, operational sequence, implementation of measures to ensure the correct recording of operations.
They also serve to establish security measures to protect assets, independent verifications of the actions of others and adequate evaluation of the operations recorded.
To conclude we can emphasize that it is essential for a company that the control of accounts payable is well defined, since this will improve the operation, quality, reliability and security of the processes.
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What you have said is actually true and well needed. There are actually a whole lot of accounts who does not understand the importance of this and most of the time they suffer