Did you get your free report on analytics?

https://faoblog.com/embedded-analytics-enable-collaboration/

In the post before that we had covered analytics as a focused activity for collections.

https://faoblog.com/processes-ar-collections-focused-activities-analytics/

There is a beautiful outsourcing candidate in collections, Customer  Account Reconciliations.

If you talk to an accounting student about reconciliations, he will tell you that it is an activity of comparing the same set of transaction activity recorded by two different sources and identify, map and close the differences, so that both recording sources reflect identical transactions and balances.

 

Customer  Account Reconciliations

Customer Account reconciliations is an important, critical and an ongoing activity. This comprises of comparing the transactions recorded by your client’s organization, along with those recorded by his customer, identifying the differences and collecting evidences and closing the gaps. It may involve reaching out to the client’s customers and various units like sales representatives, accounting department, material receipt filing group, agencies / departments for proofs of deliveries, policy administration groups etc.

Why do we need reconciliations?   Next post….. 🙂

 

Subscription and Guest Post:

You may subscribe to the blog from the subscription box on the opening page of the blog. We have enabled a button on the top of the first page, which will enable you share your posts. If you wish to write about any of the current streams, you can do it at https://faoblog.com/guest-post/. We will review your post and release it within 48 hours of your posting.