From Intacct's View from the Cloud Blog:
Today's blog is a guest post from Christophe Primault, co-founder and CEO of GetApp.
Here we'll consider three of the most common accounting sins and address the underlying issues that cause them, as well as suggest solutions. Let's roll up our sleeves and start taking steps to absolve you of your sinful accounting ways.
Accounting Sin #1: Paying Late to Avoid Spending Time on Accounts Payable
You know you've got to pay the bills, you just don't want to (or simply cannot) invest the time necessary to handle accounts payable. So sometimes you let the occasional payment slip through late as you, maybe feeling guilty about your procrastination, take action to sort out accounts payable.
Whether your business is running on net 15, net 30, or some other time frame, you know that the rules are bent, and payments sometimes ...read more