Strategix Admin

Accounting and bookkeeping are two of the most important activities in any business. They provide vital information about financial performance, allowing managers to make informed decisions. But these tasks can be challenging for many businesses, especially small- and medium-sized companies that lack the necessary expertise and resources. This article will look at some of the common accounting and bookkeeping challenges faced by businesses today, as well as how they can be overcome. We’ll also discuss why it’s so important to have accurate records in place, regardless of size or sector. With this knowledge, you’ll be better prepared to handle your own accounting needs with confidence.

Intercompany transactions are essential for many businesses that operate as a group of entities. However, managing these transactions can be challenging and time-consuming, especially when companies have to deal with multiple subsidiaries or business units. Without the right tools in place, tracking intercompany transactions can become a significant burden on accounting and finance teams. Why? Simply because Not tracking all intercompany activity can lead to missed opportunities, inaccurate financial reports, and even fraud.

Strategix offers the perfect solution for businesses that want to streamline their intercompany transactions and keep everything accurate and accounted for. With Strategix’s transaction solutions, companies can record every financial interaction accurately and evaluate their overall financial health with ease. Strategix provides businesses with a centralised platform to manage intercompany transactions, making it easier to track financial activity across different subsidiaries and business units.

Let’s delve a little deeper.

Payment of debts is crucial to the smooth running of a business. Late payment of debts has severe consequences for both the debtor and the creditor. In most cases, creditors charge late payment penalties to encourage timely payment and compensate for the inconvenience caused by delayed payments. This article discusses late payment penalties, how they work in financial service businesses, how they are calculated, and how Strategix can help improve the calculation of late payments.

In the financial services industry, company consolidation is a process where two or more companies combine to form a new entity, or one company acquires another. This can happen for various reasons, such as cost savings, increased market share, diversification, and access to new technologies or markets. Consolidation can also be a strategy for growth, allowing companies to expand their operations and increase their profitability.

Document management solutions refer to software systems designed to store, manage, and track electronic documents, such as contracts, invoices, reports, and other business records. These systems provide businesses with the tools they need to digitise their paper-based documentation, automate their workflows, and improve collaboration among teams.

Your warehouse is the beating heart of your distribution process. Storage, loading and unloading, inventory records, stock processing, it’s all done there, in a bustling, dynamic space that’s a vital cog in the business machine – the first step in getting your products to where they need to be.