Running a business is not an easy feat. When it comes to all of the internal workings of your company it can be mind blowing to consider how important each person is. The receptionist will happily greet every one of your clients and create an instant welcoming environment. She will answer all phone calls, distribute mail and make clients feel comfortable by offering them a beverage while they relax comfortably in the lobby. She also will maintain the lobby to perfection. Administrative assistants will make their bosses jobs easier every day. They will handle faxes, emails, errands and projects so the bosses can focus on large projects and oversee the daily operations of the company. Owners must delegate work to all of the employees under them and ensure the business operations are running smoothly and their clients are pleased with all interactions.
Human resources and accounting often work side by side throughout their business days. The Human Resource staff will set up new employees and go over benefits, 401K options and settle any internal issues employees may be having. Accounting will ensure that all deduction are being properly withheld from pay checks and go over all hours and vacation, sick or personal time off. Accounting is just a large blanket term for a department that handles a wide array of functions within the business.
There are two huge functions within each accounting department. There are accounts receivable and accounts payable. These are separate entities from payroll and tax accounting. If you are looking for accounts payable or any accounts receivable management cleveland oh company, it should have many resources where professionals can be brought in from temp agencies or even direct hire solutions.
Accounts receivable handles all of the payments that are made to a business. These can include checks and money orders that are mailed in as well as online payments and cash payments. All of the payments but be marked in an approved accounting software program. This ensures payments are made on time and no late fees are charged to clients. The accounts payable department will then log in all expenses that are necessary to run the business. They will then approve payment of bills from the allocated money that was collected from the accounts receivable department. This is an easy concept to understand. Bills and statements are sent out and then payments (money) are received. When the payments are deposited and the cash in now available in the company bank accounts the bills that have come in to run the business can be paid. This constant cycle of collecting and paying keeps the business running and allows owners and upper management to carry on with their responsibilities as well.
The accounting department is the heart and soul of the business because they are solely responsible for paying the staff and keeping the business running. The accounts payable literally keeps the lights on in the building which allows for all of the other important departments and employees to effectively carry on with their daily tasks.