Effectively using cash management with trade finance products brings tangible benefits to both corporates and financial institutions.Learn the various benefits of cash management process.
Effectively using cash management with trade finance products brings tangible benefits to both corporates and financial institutions.
It ensures liquidity and optimal use of cash resources by:
Having enough cash on hand at the right time in order to fund core business operations and improve working capital position
Visibility into expected cash needs and forecasted cash receipts
Ability to analyze enterprise-wide cash requirements and currency exposures
Daily cash position and projected cash forecasts to minimize idle cash
Real time cash positioning for preventing bank balance overdrafts and effectively managing liquidity
Bank statement reconciliation protecting unauthorized use, maintain accurate cash balances, identify and resolve bank errors
Cash management also helps you to implement explicit segregation of duties helping minimize frauds and misappropriations.
In the previous article we talked about the meaning of the account reconciliations. Now as you now the definition of account reconciliation, in this article let us see why it is carried out.
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Although there is no straight forward answer to the question, how to best organize a treasury function, this article provides an generic view of the way large MNCs creates departments or sub-functions within the treasury function.
Introduction to Cash Clearing Process
Unravel the mystery behind clearing accounts. Learn why clearing accounts are used in finance and accounting. Learn why so many clearing accounts are defined in ERPs and Automated Accounting Systems.
Complete Bank Reconciliation Process
Bank Reconciliation Process is a eight step process starting from uploading the Bank Statement to finally posting the entries in General Ledger. Learn the Eight Steps in Detail!
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