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What are the components or materials used by Accounts receivable departments?
Ans) Accounts Receivable department is very vital department of the company. The responsibilities of the department is approval of credit limit to the customer study the past history of customer credit transfer invoices to the customer updation of the customer credit data factoring contacts with the factoring agents follow up of customers motivating the customers to give the dues intime and communicating the information to the management. Credit sales data estimation of credit sales for the future period recommened for for funds to finance department whenever they needed follow up of customers receivables management.
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
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illustrate business cycle with reference to a retail trader which does business on a cash basics
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