Accounts Reconciliation Blog

We all wish we can be wise when it comes to money. It will help a lot if you know about finance. Any growing company will need an accountant to handle their books. They will need someone who knows all about finances and book keeping. I took some accounting classes in college but I will definitely not be a reliable finance person. I even get confused and sometimes have to rethink what is full cycle accounts payable. 

So what is full cycle accounts payable? A full cycle accounts payable ends when the payment is done. The cycle begins when the company avails of a service or buys a product. The payment for these products and services had not been paid yet. The supplier gives the client or the company an invoice or a quotation for the product sold or the service rendered. That invoice is the basis for the payment. The company then issues the check payment and the supplier presents the company with an official receipt.