Dani Hao
In any organization, procurement is one of the main departments of the company that touches and manages organizational spend. Whether it be procurement for business continuity e.g. inventory purchasing, or procuring for business support e.g. IT – if an organization does not have a strategic approach to its procurement or…
July 16, 2018 Dani Hao
What if you had to retrieve the dollar amount on an invoice that was issued a year ago? You might have to sort through a pile of paperwork for hours, going by the order of the time of filing. There may be even more problems that will occur, such as…
July 10, 2018
Procurify Staff
General Ledger – Explained
July 4, 2018 Procurify Staff
What is Cash Flow? Cash flow is the total amount of cash (in hand and demand deposits) or cash equivalents that either go in or out of a business. According to International Accounting Standard 7, the following items constitute cash equivalents:
June 15, 2018 Procurify Staff
“Accounts payable” is a phrase that’s sure to be seen and heard in any company that does business. On a technical level accounts payable is the comprehensive list, a record of a company’s liability in the form of payments owed to others. Many medium and large-sized businesses do their purchasing…
June 13, 2018 Procurify Staff
What is an ERP?
June 11, 2018 Dani Hao
Effective and efficient budget management is the cornerstone of a successful business operation. It is close to personal financial management, but more complicated due to the size, structure, and short and long-term objectives. It requires planning, commitment and discipline to the plan. It consists of planning and implementation that provides…
February 27, 2018 Dani Hao
In the course of official company assignments, employees may incur some expenses that must be charged to the company’s account. However, although these decisions were made from the employee’s end, there are ways to strategically manage these expenses proactively to save costs while still providing employees with the ability to…
February 16, 2018 Dani Hao
This comprehensive article will cover what is accounts payable as a whole, including its role in accrual accounting systems, how to create accounts payable and to facilitate a good audit trail, and will also explore the pros and cons of having a cash vs accrual-based accounting system.
February 6, 2018 Dani Hao
We have written many articles on purchase orders, but one key term that causes confusion and mixup is purchase requisitions. This article will highlight the differences between purchase requisitions and purchase orders, and why purchase requisitions are imperative in your organization.
January 30, 2018