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Financial Controls for your Business using ApprovalMax

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  Approval automation for Xero ApprovalMax is the #1 tool to get bills and expenses approved quickly. It replaces paper and email approvals with automated multi-role and multi-tiered approval workflows. ApprovalMax integrates with our preferred cloud accounting platforms, Xero Accounting (More information at www.collectiveconsulting.ng/xero ) to unlock powerful efficiencies for approvers and finance teams.   Protect your data It is possible to perform approvals directly in the Xero accounting platform, but that only makes sense for very small organisations without any external stakeholders. The more people you have in the process, the more complex and less safe it becomes. With ApprovalMax, the approval process is performed safely from outside of the general ledger, and approvers only see the financial information related to their responsibility.   Streamline the approval workflow No matter how complex approval workflow your organisation might have, it ca...
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Get Xero Certified

  This article is for accountants & bookkeepers who use Xero
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SMALL BUSINESS ACCOUNTING ISSUES

From experience, I can conclude that most small businesses do not pay attention to their bookkeeping/accounting records in the first few years of starting their businesses. They focus on sales, marketing, operations, recruitment and other business operations other than finance. They usually say, "let's make the money first, we will do the accounting later" How most SMEs handle their accounting process   What usually happens is that the proper books of accounts are usually "on hold" until the tax authorities seeks them for tax assessment/payment or a financial institution asks them for financials and forecast when they require funds to grow/expand operations. Now, the problem begins. The timeframe for submission of financial statements to the tax authorities would be short and penalties will ultimately accrue. In the event that it is a financial institution making the request, it is at that time they would be seeking out a finance professional that ...
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ABOUT THE PTAAT PROGRAMME

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Collective Consulting Limited specializes in practical accountancy and IT workshops for those in accountancy and finance. As proponents of this vocational training , we have carefully designed and structured our workshops to simulate the work environment and to give participants the necessary practical skills to enable them to understand and prepare accounts from source document to the Balance sheet. Who needs this unique practical training? The workshops are designed for: (a)       Those that have no practical experience (b)       Those who although are working but have never prepared accounts by themselves from   actual source documents to the balance sheet (invoices, petty cash vouchers, cheque stubs etc) up to the balance sheet. Our Mission To provide vocational training for accountants, graduates and trainees enabling them to realize their full potentials, as well as secure well-paid jobs. Our Vision To merge profe...
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