Managing debt in a company refers to the process of ensuring that a business borrows money in a responsible and sustainable manner, while also meeting its financial obligations. Here is the process: Evaluate borrowing needs: Evaluate the need for borrowing and the amount of debt that can be sustainably managed by the business. This helps […]
HOW TO DO BOOKKEEPING IN PAKISTAN? (ACCOUNTANT)
Bookkeeping is the process of recording and maintaining a systematic and organized record of financial transactions of a business. Here’s how a teacher would explain the process: Record transactions: Keep a record of all financial transactions of the business, including sales, purchases, payments, and receipts. This can be done manually in a ledger book or […]
HOW TO MANAGE PAYABLES?
Managing payables refers to the process of ensuring that a business pays its bills in a timely and efficient manner, while also maintaining accurate and up-to-date records of what it owes. Following are the processes involved: Record purchase transactions: Record all purchases made on credit in a purchase ledger or accounting software. This includes the […]
HOW TO MANAGE RECEIVEABLES? (ACCOUNTANT)
Managing receivables refers to the process of ensuring that a business’s customers pay their bills in a timely manner and that the business has accurate and up-to-date records of what is owed to it. Here is how you can manage your receivables: Set credit policies: Establish clear and fair credit policies for customers, including the […]