How to be efficient in booking keeping

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By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
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By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
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21st century is called the ‘Information Age’. Be it your friend, any company functioning miles away or your daily work routine, everything today is Just a Click Away. A working individual constantly jostles between different work frames. Think about all the times when you could have used your pace to make more money instead of keeping track of what you already had done, over and over again. To your rescue, cash management services have introduced a series of solutions which not only reduce your mundane work but also help you do it efficiently.
What is Book-Keeping?
Book-keeping is a process of recording all the financial transactions ranging from purchase, sales, incomes and overheads. Book-Keeping can be done by an individual, company, corporation or organisation.
This process systematically divides each financial transaction, cash or credit, into separate ledgers which help the book-keeper quickly analyse real-time position of the company and take necessary actions. Here’s a list of some reasons which will compel you to perform book-keeping tasks:
Cash Management Services – The Bigger Picture
Cash Management Service is a key function performed by Kotak for its clients, enabling them to create efficient working capital cycle and make best use of their liquid resources at a lower cost. In India, a cash manager’s responsibilities include the following:
In order to successfully achieve the above integrated collection, payments, liquidity management and escrow solution needs, the first step required is incorporating a high performance book-keeping process. If the first step is taken effectively, the rest of the journey becomes very smooth and accuracy is maintained thereafter.
Tips to increase Book-Keeping efficiency
In order to have an efficient, updated and accurate record of the company’s transactions, below are 7 tips to increase book-keeping efficiency that must be carried out:
The banking network has reached far and beyond deposits and lending. Today, all your routine as well as complex book-keeping work is well taken care of by a well-structured mechanism and a person is dedicated only for this work. The demand for cash management services (CMS) have led to the emergence of a total new wing of employees who are dedicated to different CMS activities of which book-keeping is the most important area. So, all you need to do is connect to experts who have their best interest in your growth.
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