January 5, 2010 
This entry was posted on Tuesday, January 5th, 2010 at 10:37 pm and is filed under Accounting, Accounts Payable, Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
2009 is over. Christmas and New Years parties are done. Many people are doing returns. Everyone is so busy. To top it off, for most companies, this is the busiest month. Books need to be balanced so it can be closed and accounts payables need to be settled.
There are two reasons why accounts payables need to be settled. First and foremost, a company needs to know if it will end the year in the red. Second, nobody wants to start the year with debt. If you can settle your account, settle it. There’s a certain belief that what you failed to settle this year will hound you in the next. Also, not only will it hound you, it will attract more of it. If you start the year in debt, debt will be prevalent throughout the year.