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Career Building and Development, Employement, Job Search Tips

Tuesday, April 11, 2006

Second Step in Building a Business

Accounting procedures.

After a sales agreement is made, one other thing that is equally important is collecting the money from the sales. In order to manage your cashflow, you should have strict procedures for;

1. Accounts payable,
2. Expenses and accounts receivable

Neglecting these will result an otherwise profitable company to go into bankruptcy due to insufficient cash reserves. You should have regular weekly and monthly meetings to align the efforts of accounting and marketing groups. Tension between marketing and accounting is a common bureaucratic happening; so don’t be surprised.

Gain an Unfair Advantage in Career Development using the tips in this Interview Guide

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