03/07/2020 by Beki Wallace AATQB MIAB 0 Comments
Here is a simple one, what are bills?
Bills are documents detailing money owed for goods or services provided.
A bill is also an invoice.
The term bill, is interchangeable with invoice.
Managing the bills issued is vital to ensuring a business has a steady stream of income.
If bills are not sent out, invoices will not get paid!
Paying bills received on time, will likely improve availability of credit in the future.
A list of bills is usually referred to as payables and receivables.
If using software, a list of bills can usually be easily obtained.
Bills are essential.
They make up the majority of the financial records of the business.
Keep track of bills to effectively create and maintain a healthy cash flow, ensuring the success of a business.
Be aware of bills!