The control of accounts payable and receivable is one of the main functions of an accountant. This process consists of recording all the company's financial transactions, both those involving the payment of expenses and those that generate revenue.
To carry out this control efficiently, it is necessary to have a good organization and an adequate accounting system. The first step is to record all accounts payable, that is, all expenses that the company has to pay, such as rent, salaries, suppliers, among others.
For this, it is important to have a financial management system that allows the registration of these accounts and the definition of deadlines for payment. In this way, it is possible to avoid delays and fines due to late payments.
In addition, it is necessary to record all accounts receivable, that is, all revenues that the company has to receive, such as installment sales, receipt of rent, among others. For this, it is necessary to have a sales management system that allows the recording of these revenues and the definition of deadlines for receipt.
With this information recorded, it is possible to have complete control of the company's accounts payable and receivable. This allows the accountant to make a cash flow forecast, that is, to know how much cash the company will have available in each period.
Continue in our app.
You can listen to the audiobook with the screen off, receive a free certificate for this course, and also have access to 5,000 other free online courses.
Or continue reading below...
Download the app
In addition, the control of accounts payable and receivable is also important for the company's financial decision making. With this information, it is possible to identify which expenses can be reduced or eliminated, as well as which revenues can be increased.
Finally, it is important to emphasize that the control of accounts payable and receivable is one of the main functions of the accountant, but it is not the only one. The accountant is also responsible for other activities, such as preparing balance sheets and financial statements, issuing invoices, calculating taxes, among others.
