
Controls Over Cash Payments
Cash may be disbursed in a number of ways and for a number of reasons. For example, a business may pay wages or rent, repay borrowings owing to the bank or purchase non-current assets.

Cash may be disbursed in a number of ways and for a number of reasons. For example, a business may pay wages or rent, repay borrowings owing to the bank or purchase non-current assets.

Because cash is the easiest asset to misappropriate, it is vitally important that the owner or owners of the business set up a good system of internal control over cash.

It is important that you can differentiate between what your profits are, and what your cash flow is… Cashflow is the life-blood of your business; it’s what allows you to pay off your bills and staff and keep the business afloat!

One of the benefits of switching accounting and financial business activity to the cloud for small to medium sized organisations is the opportunity it presents for streamlining so many operational and financial elements.