Controls in AP and AR

Controls in Accounts Receivable:

All documents can be reouted thro' Bank. Discounts can be extended for faster payments. Credit Limit & Credit period can be fixed & ensure beyond  that goods can be called back. L/C, Hundi, Bank Guarantee and other holding instruments can be applied.

To get rid off all these 100% payment in advance can be snsured provided if you are a monopoly.

Controls in Accounts Payable:

Payment terms has to be fixed and strictly adhere to for all the bills irrespective of suppliers.

Large credit period should be discouraged. Cash & carry can be imposed depends upon the marketability.

Payment metod can be introduced as per managemnt policy ie., 2 payments per month viz., 15 & 30the of everymonth wherein all the bills prior tothat date can be cleared. It saves a lot of man power work & paper work.

Thank you sir,

Can you please send the payment process in AP and receipt process in AR to below mentioned emaild ID.

pashad74 @ gmail.com

Thanks,

Pasha,